E-POs provide greater accountability and visibility into spend. They also lessen the likelihood of errors.
No. You can pick and choose which modules you need. Add on at any time.
Keep track of spending without paper
By adding the Nexus purchase order module, you can create, manage, and track electronic POs – all within your NexusPayables account. In no time, you can:
- Eliminate surprise purchases
- Plan and budget better
- Have an audit trail
View electronic purchase orders directly from your NexusPayables dashboard.
Easily compare any electronic PO in Nexus to your budget and actuals.
Create electronic purchase orders and compare to budget
With just a few keystrokes, create an electronic purchase order and send it for approval(s). You can also easily compare the expenditure to budget and actuals – before you purchase – because budgets are imported directly to NexusPayables from your accounting system. Compare to the fiscal period and year.
Plus, you can add any budget overage notes to the electronic PO.
Flip electronic PO to an invoice
Once the goods and services are delivered, flip the PO into an invoice right within NexusPayables. The name of the supplier, price, quantity, and items ordered will be auto-populated into the new invoice. You can also choose the line items you want to include in the invoice.
Flip a PO to an invoice with a few clicks in Nexus.
Keep your purchase orders open
Didn’t receive all the goods and services you ordered? No problem. Keep your PO open – and create an invoice just for the goods received. Include only the line items you want.
Mitigate risk with three-way matching
Configure Nexus to automatically match an electronic PO to an invoice and to a receipt, safeguarding your business against incorrect or fraudulent invoices.
Authorized users can order products and services within NexusPayables
Use Nexus catalog and PO modules together for greater accountability
Embed your suppliers’ online catalogs into your NexusPayables account with the Nexus catalog module. Then, you can select items from your catalogs, create electronic purchase orders, and route for approval(s). Everything happens within the same system – using your workflow rules, pre-negotiated pricing and discounts, and purchasing guidelines.
Pull purchase order reports
Pull reports specifically related to your electronic purchase orders. For example, monitor if individual line items in a PO have been released, received, canceled and/or invoiced, track POs by vendor, and/or pull purchasing summary reports.
Run PO reports by selecting PO from the ‘Report Type’ dropdown.
“Before using Nexus Purchase Orders and Catalog, spending was maintained on a spreadsheet and there was no real workflow if you will. Now it’s built into the system so when somebody tries to order something, the system knows ‘OK, this person is either not allowed to order that or, if they do order or try to order that stuff, it’s going to go to the next level’, depending on what we’ve set within Nexus.
I would really recommend to companies that aren’t using Purchase Orders and/or the Catalog, to use both. It’s a win-win.”
Richard Bonney, IT Director
R.A. Snyder Properties
Nexus electronic purchase order FAQ
What are the benefits of electronic POs?
How do e-POs work with 2-way and 3-way matching?
If you're interested in performing 2-way or 3-way matching to protect your organization from fraudulent invoices, e-POs can help. E-POs - offered as part of an AP automation platform - can be automatically checked against their corresponding invoices (for a 2-way match), or against their corresponding good receipts and invoices (for a 3-way match).
Is it difficult to implement e-POs if we don't already use them?
No. And you can always start small and require e-POs for just certain parts of your overall spend, such as for office suppliers.
Can I have separate approval workflows for e-POs and invoices in Nexus?
Yes, you can have distinct approval workflows for each. You can also set it up so that if an e-PO is approved, its corresponding invoice is automatically approved (if they are an exact match).
Do we need to use e-POs if we want to use Nexus?
