Imagine this scenario: you’re an accounting manager and your company has just expanded into three more locations. You are in charge of keeping an accurate record of your capital project budgets for your CFO and investors; yet, you don’t have an easy way to track all those purchases in Microsoft Dynamics GP to a single project. You are struggling with the unwieldy Project Accounting module or, even worse, contemplating setting up mind-numbing Analytical Account codes. Yes, you have your work cut out for you this summer; you might as well just kiss goodbye those summer vacation days sipping your mojito on the beach. Better luck next year.
Luckily, will restore your sanity and time by simplifying expense tracking for capital projects or vendor contracts with seamless . Use Ariett to track all of those vendor contracts that are piling up; route requests for approval, receive automatic notifications on expiration dates, quickly view documents, report on the calculated available budgets, and keep tabs on vendor insurance obligations or milestones in one centralized, electronic solution. Need to revise your budget estimate? No problem – with Ariett’s Contract Change Order feature, simply submit the change order into a workflow, and upon approval, your contract or capital project budget is updated.
One customer recently selected Ariett precisely because Ariett’s Procurement solution will help the customer to keep tabs on IT capital expenditure projects for each of the company’s 1700 restaurant locations. Businesses like this are increasingly adopting purchasing solutions with integrated contract management that allow them to easily track purchase commitments to a vendor contract or internal project.
How exactly does Ariett help your organization to keep a close eye on your and spending? When employees submit a requisition or approve an invoice, they can tag it to the appropriate contract and, subsequently, the purchase order and invoice will be tracked against the initial contract value. What does this mean for your purchasing and accounts payable teams? Basically, they don’t have to worry about chasing down all purchase orders and invoices associated with a project because the information is right there in one centralized location.
In real-time, your CFO, auditors and other contract stakeholders can access and view vendor contracts and capital projects from Ariett’s Contract Search screen. With Ariett’s HTML5 and CSS3 designed user interface, your employees can view contract details and search for specific contracts, comments, vendors, etc. from their smartphone, tablet or laptop. To locate upcoming contract expiration dates, you can sort expiration dates by descending order at the top of the column. To keep your CFO up-to-date on contract budget statuses, you can also generate reports on contracts that can be exported to an Excel, CSV or PDF file.
So, don’t worry – the summer has only just begun, and there’s plenty of time to find an integrated purchasing and contract management solution. To see a live demonstration of Ariett Procurement with Contract Management, just sign up here for our next webinar on Thursday, June 25th at 4:00 pm EST: .
By Ariett
