We previously explored how purchasing in the cloud can be used for credit unions to eliminate the need for a purchasing department that is tasked with keeping the credit union stocked with all necessary items and equipment that are needed to successfully run a credit union. Today we will explore how purchasing in the cloud can streamline the inventory and purchase order process for smaller credit unions that employ a dedicated individual who is specifically tasked with keeping an eye on inventory and keeping the credit union stocked with all of the essential items that are necessary in order for business to run smoothly.
Small credit unions often look for ways to reduce and eliminate costs while continuing to provide a high level of customer service for their customers and clients. Using procurement to pay services in the cloud may not immediately stand out as a way to save money, but it is actually a great way to reduce costs overall. The following information will explain how credit unions can utilize cloud-based software and services in order to keep track of their inventory and to place purchase orders well in advance of a shortage of materials or supplies.
Purchase to Pay Services Streamline Procedures for Small and Large Credit Unions
Whether you are operating a small credit union or a large credit union, there are some things that remain the same. For example, both small and large credit unions need to have a supply of pens, paper, printing equipment, computer terminals, banking software and a host of other essential items in order for operations to run smoothly. In addition, both small and large credit unions may have the issue of individuals placing multiple orders for the same thing simultaneously if there is not enough communication between individuals or departments. The task of ordering supplies may fall to a receptionist, a teller or someone else. Without a direct chain of command that specifically assigns purchasing duties to certain individuals, it is likely that a situation will arise where there is a shortage of certain key items and an excess of other essential items.
If you are the owner or operator of a credit union and you are already using purchasing to pay software, you may not know that you can save even more money and time by using purchase to pay software in the cloud. Cloud-based procurement to pay software streamlines the process tremendously while lowering costs even more. You no longer have to install purchasing software on your server or have an individual who is specifically trained to use the software because the software is maintained on the vendor’s server instead. This eliminates the need to maintain or update software, as all such tasks are taken care of in the cloud instead. Best of all, with cloud-based procurement to pay software, the process is fully automated so that you never run out of supplies. Whenever you are low, the system will automatically order more as you see fit. So if you are looking for ways to lower costs while streamlining procedures at your credit union, purchasing in the cloud is definitely the way to go.