Procurement budget management is the analysis and oversight of costs and expenditures for an organization. Managing a procurement budget requires adhering to strict internal protocols on planning and approvals on procurement spend. Our Budget management allows a well-managed procurement planning and budgeting for continued smooth operations and growth.
- One click understanding of the budget used and availability
- Better planning of the spend
Features and Functionalities
- Allocates specific spend of money to various items that require funding.
- keeps track of fund utilization and available balances.
- Allows blocking and releasing of the allocation based on functional flows in terms of acceptance and rejection of PR’s and PO’s.
- Allows transfer of funds within department between good & services and intra-department transfers with adequate approval workflow.
- Enhance the control by verifying the availability in all PR, RFQ and PO generation levels and approvals.
- Utilization reports based on Departmental, project, goods and service levels.