To keep a society up and running, there are a lot of requirements that the Management Committee needs to shell out money for. And with a new need emerging every day, keeping a track of society expenses can become overwhelming and tricky at the same time.
Most of the time, there is no accountability of the expenses incurred in this kind of system – who brought it, who authorized it or how much money is actually spent. And where there is no accountability there is no responsibility. Therefore, we have added a new feature called Purchase Request & Purchase Order.
Here, a management committee member can create or raise a purchase request, get it approved by other members in the hierarchy and process the purchase order easily without having to worry about mismanagement or over-spending of society finance.
Benefits of Purchase Request & Purchase Order Feature:
Create Purchase Request and Order Process:
Society aims to buy some equipment/goodsThe procurement process starts with an aim to fulfill a requirement for the society. This process is done from our admin dashboard. Making a Purchase Request(PR) requires details such as ‘Request name’, ‘Description about the purchase request’, ‘Priority’ and ‘Due Date’.
Get quotations from vendors
The next step is to get quotations from vendors. Here you can navigate to the PR and add multiple quotations from vendors. Here you have the option to add various files for a quotation. Once all quotations have been received then the procurement committee can deliberate on these quotations and approve or reject quotations according to the predefined hierarchy.
Create a Purchase Order (PO):
After a quotation has been approved by the committee for requisition then a Purchase Order is to be created with details such as ‘Purchase Request’, ‘Particulars’, ‘Units’, ‘Rate per Unit’, ‘GST Rate’, etc. This order can be given to the vendor as a confirmation of procurement. Before giving the final order to the vendor a review process is undertaken by the procurement committee which approves or rejects the PO according to the hierarchy. This ensures that the correct order is being placed by the society.
At this point an order has been placed with the vendor and all that is left now is the delivery of the goods.
Below is the detailed flow of the process on our dashboard:
On the NoBrokerHood admin dashboard,
With this new feature, now also available on the Administration title of the Resident App, committee members can easily access, manage and respond to society’s purchase requests from the comfort of their homes.
Write to firstname.lastname@example.org or go to www.nobrokerhood.com and ‘Enroll your society’ for a free demo.