Having tried a number of purchase order systems from manual paper-based methods to Access databases, Tishman Speyer recognized the need for a single solution to consolidate their purchase order information.

Outcome

Open Box introduced a web-based Purchase Order System (POS) featuring approval alerts for managers on the Tishman Speyer management dashboard.

Business Case

Having tried a number of purchase order systems from manual paper-based methods to Access databases, Tishman Speyer recognized the need for a single solution to consolidate their purchase order information. The execution of large numbers of purchase orders across over 45 offices necessitated a move away from manual entry into the back-office accounting system and the resultant payment delays.

It became apparent that comprehensive order records needed to be stored centrally and made easily accessible to certain users. Management also required the ability to view outstanding commitment information at any point in time and approve expenses before the obligation to pay them was incurred.

Solution

Open Box introduced a web-based Purchase Order System (POS), featuring approval alerts for managers on the Tishman Speyer management dashboard. Integrating with Management Reports Incorporated (MRI) and SharePoint (for invoice images), it facilitated richer data capture, approval processes, budget checks, cost allocation and accruals. Over time, the system has been evolved to meet the changing needs of business, from new tax and audit requirements, to integration with automated payment processing services.

Benefits

The ability to manage purchase orders centrally through a fully-automated system created a reduction in accounting headcount. Used across a number of countries in Europe, as well as the USA, the POS system integrates with MRI, to streamline and provide greater control over the purchase order process. Management also now have the added benefit of control over costs prior to commitments being incurred.