Sachin Sharma of ProcureDesk shows how a controller doubled invoice volume without hiring. The three moves: consolidate purchase orders, requisitions, and invoices in one system; use real-time budget controls to stop overspend before it happens; auto-approve small purchases while routing larger ones to managers.
With a controller of a growing company where their invoice volume doubled in one year and they've been able to manage it without hiring an additional headcount. Interested in how to do that? Then this video is for you where I'm going to show you how you can scale your procurement process without hiring an additional headcount. If you're joining me for the first time, welcome. My name is Sachin Sharma. I am the founder of procuredesk. We where we help growing companies with spend control and without hiring additional headcounts. So here are the three things that you need to do and that's what that controller did, right? So number one is they avoid the manual data entry trap, right? So today if you are processing purchase orders or invoices manually, you probably are doing double data entry. You're creating a purchase order somewhere, then going to your accounting system like QuickBooks, NetSuite, putting the data in. When the invoice comes in, you're again entering the data. You might have a separate process for doing the matching and so on. And that caused lot of headache, right? You might have a spreadsheet to maintain what is invoice against a purchase order and so on. So to avoid all that, what they're doing is they're bringing it all together in one single system, but that system is then talking to their accounting system. So either it's you are implementing a better process in your ERP if you have a larger ERP, or you're using a system like ProcureDesk to automate your requisition to invoice matching process. So your team is not doing double data entry and they're leveraging technology to automatically create invoices so you don't even have to do the data entry to begin with. Right. So that's number one. Number two is they are avoiding spending in the dark. So what I mean by that, a common problem with spending is if you have budgets, you have to wait for your books to close before you know where you are as compared to that budget. By that time it's too late. We see this very common in schools where you have a budget for supplies and they have to wait for a month end to know, oh geez, we went over budget, what do we do now? Let's adjust the budget and so on. Right? So a simple solution to that, what they are doing is they're implementing proactive budget controls so that when the person is putting in a request to buy something, a system checks against the budget and say do you have the money or to buy or not. And if you don't, the process stops there, right? So you don't go over budget. So you spend not spending a lot of time, post the books closed to say, all right, why this happened and so on, or avoid all those awkward conversations. Number three is that avoiding the approval bottlenecks. So a very common problem with growing companies when they want to implement a spend control process and is they implement a approval process which is very bureaucratic, right? So everything needs a manager approval, large purchases need CFO approval or owner approval and so on and that slows down things. That means there is more friction in the process, your teams lose momentum, there's a lot of noise that is happening and as a result of that, your customers suffer. So to avoid all that, you need to define a approval process which considers the small purchase that can automatically get approved so you don't have to worry about setting up a process which is causing bottleneck in the whole process. Right? So those are the three simple strategies that you can implement to scale your procurement process without hiring a headcount. Just a quick recap. Avoid the manual data entry trap. Don't spend in the dark. Have budget controls. Number three is set up approval processes so that they don't become bottlenecks for your teams. Right? So if you like this video found this helpful, go and hit the subscribe button so you get notified next time when we release videos like this. Thank you for joining me today and I'll see you in the next video.
