Upon successful completion of this Workshop, participants will be able to:
OBJECTIVE 1 Participants will understand the intent and purpose of purchase orders, including how they support more business-like relationships with major suppliers, budget-to-actual variance analysis, cash flow forecasts and stronger controls over the approval of purchases.
OBJECTIVE 2 Participants will understand how proactive management of open and unfulfilled purchase orders impacts the ability of managers to deliver services on budget and avoid unnecessary surpluses at year-end.
OBJECTIVE 3 Participants will gain an understanding of concerns prevalent to Indigenous communities with respect to the purchase orders procedures and procurement cycle.
OBJECTIVE 4 Participants will understand the impact of not using purchase orders on forecasting, budgeting, audit procedures and in-year financial reporting.
OBJECTIVE 5 Participants will be aware of both the benefits and costs of electronic purchase orders & approvals, and how to reduce the impacts of such a change.
OBJECTIVE 6 Participants will be aware of the common approaches and system modules that can be employed to automate the creation and approval of purchase orders and the management of accounts payable.
OBJECTIVE 7 Participants will be aware of some of the more common software solutions employed by organizations for electronic purchase orders and automation of accounts payable processes.