Features

The Dashboard is equipped with a range of features designed to enhance your understanding and management of procurement activities. These features include:-

Access to Critical Data

The dashboard provides immediate access to critical financial data, highlighting spending in various categories:

1. CAPEX (Capital Expenditure): This represents the funds used by a company to acquire or upgrade physical assets such as property, industrial buildings, or equipment. It is often used for investments or expenditures that contribute to the company’s long-term growth and productivity.
2. OPEX (Operational Expenditure): These are the costs for a company's day-to-day operations and maintenance. OPEX can include rent, utilities, and payroll. Unlike CAPEX, these expenses are fully deducted on the income statement in the year they are incurred.
3. Products for Resale: This refers to the goods that a company buys with the intention of selling them to customers rather than using them within the business. It's a typical category for retailers and distributors.
4. Materials for Manufacturing: These are the raw materials and supplies used in the production of finished goods. They are crucial for manufacturing businesses, where the control of these costs directly affects the production efficiency and cost of goods sold.
5. Materials for Project: Expenses in this category relate to specific projects and can include both direct costs like raw materials for a construction project and indirect costs such as the utilities for the project site.

The dashboard visualizations and tables provide insights into spending across these categories, offering users the ability to make strategic decisions based on comprehensive financial data.

Interactive Reporting

Interactive elements like graphs and pie charts offer users the ability to engage with the data visually:

Buy Module Bar Graph

The Bar Graph: The graph is used to display procurement data over a certain period. This visualization is helpful for quickly understanding spending patterns and making informed decisions based on procurement activities.

In the graph, we will see different bars representing categories like CAPEX, OPEX, and other types of expenses, each bar signifying the amount spent in that category over a specified timeframe, such as month-to-date or year-to-date.

Top 10 Purchased Item

The "Top 10 Purchased Items" pie chart on the XFlow Buy Module dashboard is a visual tool that provides a quick and clear understanding of your most significant procurement expenses. It breaks down the proportion of spending allocated to your most frequently bought items or services.

Below the pie chart, you may find additional details, such as:

• Total Spending: The aggregate amount spent within the period displayed.
• Total Net Spending: The total spending minus taxes, showcasing the net expenditure.
• Total Tax Payable: The cumulative tax amount for the purchases, giving insight into tax obligations.
• Total Delivery Charges: The overall cost of delivering the purchased items, an important factor in total procurement costs.

This pie chart, along with the detailed financial data, equips you with the necessary insights to assess procurement performance and make informed decisions moving forward.

Actionable Insights

Analyzing Purchase Orders (PO) Details

This section of the dashboard gives a detailed account of recent purchases made with or without purchase orders.

1. Itemized Purchase Review:

• Each row represents a specific item purchased with its corresponding PO.
• You can view the net amount spent on the purchase, the applicable tax, and the total quantity purchased.
• The last column indicates the value of the last purchased item, providing a quick reference for recent costs.

2. Navigating Purchase Details:

• Clicking on an item reveals a popup with an in-depth view of the associated vendor invoice and transaction details.
• This popup provides critical information such as vendor name, status of payment, detailed financials including tax and delivery charges, and the categorization of expenses (CAPEX or OPEX).

Purchases with PO

"Purchases with PO" refer to transactions where a purchase order was issued. This guide will walk you through understanding and managing these purchases.

1. Vendor Invoice: Review the detailed invoice provided by the vendor, which can include item descriptions, quantities, prices, and terms.
2. Purchase Order: View the related purchase order details, which typically include the items or services ordered, quantities, agreed prices, and order date.
3. Purchase Requisition: Access the initial request that initiated the procurement process, showing what was requested, by whom, and for what purpose.
4. Make Payment: Proceed to the payment processing section where you can complete the transaction and settle the invoice according to the payment terms agreed upon with the vendor.

These options provide a comprehensive view and control over the procurement process, from the initial request to the final payment, ensuring that all procurement activities are tracked and managed efficiently.

Purchases Without PO

"Purchases without PO" represent transactions made without a prior purchase order, often for quick or unplanned procurements.

Managing Purchases without PO

When you click "View" for an item without a PO, you'll see options like:

1. Vendor Invoice: Verify invoice details against your records for accuracy.
2. Create Goods Received Note: Document the receipt of goods or services to maintain accurate records.

Detailed Procurement Tracking

This component of the dashboard provides a detailed ledger of recent procurement actions, capturing the nuances of each transaction for comprehensive tracking and management.

Transaction Overviews

• Requester Information: Displays who initiated the purchase, along with the department and date, giving you context for the transaction.
• Purchase Justification: Offers reasoning behind the procurement, aiding in spend analysis and budgeting.
• Approved Amount vs. PO Amount: Compares the pre-approved spending limit to the actual amount ordered, highlighting any discrepancies.
• Vendor Selection: Indicates the vendor chosen for the transaction, providing insight into supplier diversity and spend distribution.
• Invoice and Payment Details: Lists the amounts invoiced and paid, along with the status of each transaction, whether pending goods received note (GRN) confirmation or payment completion.

Utilizing this information helps maintain transparency in procurement processes, ensures compliance with internal controls, and assists in accurate financial forecasting.