Hospitality purchasing companies wanting to streamline the process of receiving and managing vendor invoice submissions will benefit from Sigma Sourcing’s recent software update. A new Vendor Invoice Submission feature allows purchasing staff to submit invoices to accounting through the Sigma Sourcing hospitality-focused, cloud-based system.
The system provides a button to purchasing staff -- and vendors should the client desire -- to post invoices against the PO. As the very first step, the system compares the invoice number entered with prior invoices and warns if a duplicate invoice is being submitted. Then the system captures the amount of the invoice, the date it was prepared, its due date, and the desired method of payment. The final step before submission is to attach a PDF copy of the invoice. From there, the accounting staff can access the system to run a report showing all invoices across all active projects to see what is in the queue for payment and the amounts, review the invoices, and quickly submit them for payment without needing to communicate with the original submitter of the invoice. If desired, invoices that conform to payment terms can be fast tracked and sent straight to the payment queue.
"The Vendor Invoice Submission feature simplifies the process by taking out the middleman or woman," says Sigma Sourcing President and Founding Software Engineer Ben Gripka. "Several of our clients have commented on how much time this feature has freed up for their accounting staff to focus on other areas while simultaneously gaining transparency on amounts pending payment."
Look for news detailing how our Budget Report brings budget, variance from budget, PO committed, and expected numbers into focus for client projects.
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