Making 'No PO, No Pay' Work for Your Organization
- 3.5
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Brief Introduction
This course explains what “No PO, No Pay” means and why companies are moving to this model.Description
In this purchase order training course we learn what “No PO, No Pay” means and why companies are moving to this model. We explore the benefits of using Purchase Orders (PO) for goods and services and identify how Purchase Orders can be created for facility, utility and telecommunication costs and identify the key components of a Purchase Order and how they can be used to post costs more timely and to track spend.
We also explore the difference between 2-way and 3-way match and learn how to leverage Purchase Orders to monitor spend and when to determine if budgeted amounts can be or need to be adjusted. In addition we learn the benefits of “Return to Vendor” policies and procedures.
Change management is key in implementing any new policy. We discover the steps needed to communicate a “No PO, No Pay” policy to vendors and to any employees who may place an order with a vendor.
A “No PO, No Pay” policy comes with strong terms and conditions. We explore these together to ensure ongoing compliance and success in your Accounts Payable organization.
Requirements
- Requirements
- No advanced preparation or prerequisites are needed for this course.
Illumeo Learning
3.5 Raiting
Making 'No PO, No Pay' Work for Your Organization
- 3.5
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