Precoro

??Simplify your industrial procurement with the new Precoro & McMaster-Carr PunchOut! Precoro’s new PunchOut integration with McMaster-Carr is finally here. Say goodbye to manual order entries and enjoy an effortless purchasing experience! Shop for tools, fasteners, and other industrial supplies at McMaster-Carr, then seamlessly import order details into Precoro for quick approval and hassle-free PO management. With our latest integration, you can: ? Make ordering quick and easy for requesters with direct access to McMaster-Carr’s catalog ? Maintain budget and policy control with built-in approval workflows in Precoro ? Save time with automatic PO creation and order processing No more back-and-forth—just smooth, efficient purchasing. Ready to enhance your workflow? Click here to learn more: https://hubs.la/Q03cJm6X0

?? Would you say you’re managing your cash flow effectively? In business finance, two terms often come up: ? accounts receivable (AR) and ? accounts payable (AP). While they may seem similar, they actually represent two different sides of the financial process and both play critical roles in maintaining healthy cash flow and financial stability. ?? AR refers to the money a business is owed by its customers—for goods or services provided on credit. Essentially, it’s the amount of revenue that has been earned but not yet collected. Efficient AR management ensures timely customer payments, which helps maintain a healthy cash flow. ?? AP, on the other hand, refers to the money a business owes to its suppliers or vendors—for goods or services purchased on credit. Proper AP management ensures that bills are paid on time to maintain good supplier relationships and avoid late fees. While AR boosts cash flow when customers pay invoices, AP helps maintain favorable payment terms with vendors and avoid disruptions in the supply chain. ?? The key to successful cash flow management? Clear processes. ?? Explore the topic in-depth here: https://hubs.la/Q03cjjxV0 #AccountsReceivable #AccountsPayable #AccountsReceivableVsAccountsPayable #APvsAR #CashFlow101

Even if $100 might not seem like a big deal at first, remember what Ben Franklin said back in 1758: “Beware of little expenses. A small leak will sink a great ship.” In 2025, the saying is more relevant than ever! Would you say you are in full control of you company’s spending? ?? It can be a tricky task, as maverick spend—while seemingly insignificant—could be quietly eating away at your budget. Think about indirect procurement and tail spend, which are especially vulnerable to rogue spend. Unapproved transactions often easily slip through the cracks and lead to the following: ??Budget overruns that set you back from your financial goals ??Lost saving opportunities such as bulk discounts or fixed rates ?Wasted time spent procuring goods from off-contract suppliers ??Compliance risks that lead to contract breaches ??Missed ESG objectives, such as sourcing from unsustainable vendors But don’t fret—there are ways to stop maverick buying before it takes a toll on your organization! If you want to dive deeper, we’ve covered mitigation strategies and ways to identify rogue spend in this article ???? https://hubs.la/Q03bX7tS0 You don’t want to lose any Benjamins, do you? ?? #MaverickSpend #MaverickSpending #RogueSpend #Procurement

Let’s talk about integrations! ?? At Precoro, we offer a great variety of integrations, both out-of-the-box and custom, that can boost your P2P process. One of integrations is with Xero and today we’d love to share the guide to creating a purchase order in Xero. ?? Managing procurement efficiently starts with a well-structured purchase order. A PO process in Xero helps reduce errors, speed up approvals, and ensure better financial tracking. Here’s how to create a Xero PO: ?? Select the correct supplier: Choose from your saved contacts or add a new one. ?? Define order details: Enter precise item descriptions, quantities, and pricing. ?? Set delivery terms: Include addresses, timelines, and any specific instructions. ?? Review & finalize: Double-check all details before approving or sending the PO. ??Get the full guide on creating a Xero purchase order here: https://hubs.la/Q03bw76p0 #Xero #PurchaseOrders #Procurement

How do you feel about your company’s accounts payable process? Have you ever felt like struggling to keep up with the growing demands of AP management? ??In this case, accounts payable outsourcing may be the solution you’ve been looking for. ?? By partnering with an experienced provider, you can offload tedious tasks like invoice verification or payment processing and focus on more strategic activities — for example, cash flow management and cost-saving initiatives. ?? However, it’s not all smooth sailing. Outsourcing accounts payable does come with its own set of risks. Giving up some control over your processes and relying on third-party providers can lead to serious challenges like: ??processing delays, ??communication hiccups, ??and security gaps. So, before making a decision, it’s crucial to weigh these risks against the benefits of AP outsourcing and confirm what’s the right fit for your company. ?? If you want to learn more about benefits and downside of accounts payable outsourcing, we’ve got something for you! Let’s discuss when outsourcing makes sense, and when it might be better to keep AP in-house and implement accounts payable automation software. ?? Check out our latest article for insights: https://lnkd.in/eFYB2yvx #AccountsPayableOutsourcing #APOutsourcing

“One common reaction of our clients is sheer amazement when they find out that invoices can be processed ten times faster,” — shares our CEO Andrew Zhyvolovych talking about AI in #Precoro. ? Check out this insightful onversation hosted by Andrew Bartolini from Ardent Partners: https://hubs.la/Q039Rp7f0 Procurement is inherently complex, with teams managing massive amounts of data, dynamic market conditions, and supplier relationships while mitigating risks. At Precoro, we focus on using #AI to empower people, not replace them. We see AI as a tool to cut through the noise, automate repetitive tasks, and amplify human decision-making. ??How can AI enhance procurement productivity? ??How are we at Precoro ensuring accuracy and reliability of AI models? ??Is the company’s data safe with AI? For all the answers about AI in procurement, follow the link to read the interview in CPO Rising ???? https://hubs.la/Q039RkW70 #ArtificialIntelligence #AIinProcurement

#AI is revolutionizing #procurement and definitely shapes its future! But can we see the real impact already? ? We are excited to say — absolutely! With Precoro, the future is already here. ?? Precoro offers a comprehensive AI-powered AP automation module designed to ensure effortless and impressively accurate invoice processing — and all that in compliance with the highest standards of data privacy and security. With Precoro’s automation module, AP teams save 80% of their time. ??How exactly does AI play into that? ??And how can your company benefit from AI-powered procurement right now? Follow the link to read more ???? https://hubs.la/Q039lmDJ0 #AccountsPayable #GoogleAI #OCR

?? Have you ever thought where procurement and project management overlap in your organization? ?? #Procurement refers to obtaining materials, vendors, and contracts to support business operations at the best cost and time possible. ?? #ProjectManagement refers to planning, executing, and delivering projects within budget and on time. Both teams focus on similar objectives, such as time and money, but only when synced, they deliver truly impressive results. Efficient cooperation between procurement and project management prevents budget overruns, project delivery delays, and quality issues. Here’s where this complementary relationship manifests: ??? In strategic planning: project management focuses on seamless execution and procurement enables efficient sourcing of everything required for it. ?? In risk management: both functions contribute to risk prevention and mitigation. While procurement concentrates on supplier reliability, project management focuses on itinerary and budget compliance. ???? Stakeholder satisfaction: both procurementa and project management teams provide stakeholders with invaluable insights into the business operation. Let’s talk more about integrating these two business functions for streamlined operations and enhanced project outcomes! ?? Get the full breakdown in our newest article: ?? https://hubs.la/Q0392vf40 #ProcurementStrategy #ProjectExecution #BusinessOptimization

We are thrilled to share the conversation with Google where we discuss how #GoogleAI revolutionizes procurement process efficiency! ?? At Precoro, #AI is not a buzzword, but the best-in-the-market technology that brings real tangible results! ?? “This exciting partnership is more than just technological, it is a commitment to staying ahead of the curve and leading innovation especially in procurement. As a partner, Google brings the biggest value to help us enhance the user experience by providing customers with cutting-edge OCR technology, faster logins and better reporting capabilities,” says our CEO Andrew Zhyvolovych. ?? Read more in the case study by Google for Startups: https://lnkd.in/eYzhTEgt

?? An ERP procurement module or a dedicated procurement platform? Both have their pros and cons, so we’ve put together some ideas on how to decide! ?When preparing to digitize procurement, the first question often is: what type of system should we choose? The basic idea is: ? If you have a simple procurement process, an ERP module may work just fine. ???? However, if you require complex approvals, multi-entity management, or strategic sourcing, an ERP alone may slow you down. ?For organizations already using an ERP, the question is different: do you need a separate procurement tool? ?? Many companies realize that while their ERP excels at integrating various business functions, it often lacks features specific for procurement efficiency — like intuitive intake management, custom reporting, or multi-entity management. ???? A dedicated procurement platform can fill those gaps while still integrating with your ERP for smooth operations. So, what’s the best choice for your business? There’re a few things to consider before making a decision. Read our newest article, where we weigh the pros and cons of ERP procurement and discuss how to choose the best solution: ???? https://hubs.la/Q038rBKH0 #ERPProcurement #ProcurementSoftware #ProcurementAutomation #ERP