How to Improve Management of Your Business Purchase Orders

Purchase Order Management

Regardless of whether you are a small or medium-sized business, as long as it involves selling products or services, you need to have a good purchase order (PO) management system. POs play a significant role in your transactions, and failure to organize them properly can lead to problems.

This is where investing in high-performance cloud-based purchase order management software such as SourceDay comes into play.

Breaking down purchase orders

One of the primary roles of POs is to serve as a guideline for the merchant or seller (the party receiving the purchase order document) on the specific requirements of the buyer (the party issuing the PO). From the buyer’s side, this serves as proof of order and evidence that detailed specifications have been made. The paperwork contains not just the type of product, but also the quantity, specific product details, and the price agreed upon by both parties.

Preventing legal complexities

When a merchant fails to meet everything indicated in the PO but has already received the payment, legal problems may – and in most cases will – arise. The buyer can file a complaint, or worse, sue the other party for not meeting their legal responsibilities.

The problem with manually managing purchase orders is that since these are physical documents, you or your employees can easily misplace, lose, or damage them. As such, it is better to have a backup that you can easily access – and the cloud gives you exactly this.

Custom PO management solution

Well-designed and intuitive PO management software allows you to tailor it based on your specific needs. It lets you utilize the Internet as your safe and secure storage space for organizing such critical documents. Their robust platforms also make it easier for you and your employees to handle orders much more efficiently, helping minimize risks of errors when meeting customer demands.

No-Nonsense Tips for Investing in Rental Property

a rental property

Do you want to diversify your investment portfolio? Consider going for rental property investments. With the help of, you’ll find yourself profiting from your investments for years to come.

Depending on your level of engagement, rental property investments can offer long-term and short-term income, as well as tax breaks. In order to make big returns on your investments, consider the following:

Obtain funding

Getting a loan from a bank or private lender allows you to purchase property for a small percentage of the property’s selling price. The lender would take care of the rest of the cost, and you can pay the remaining balance to your lender at a price that is more feasible for you over a few years. This way, you can start renting out earlier than if you had saved up to buy a place at full price.

Have emergency funds

Before investing in a property, make sure you have a sizeable amount of funds set aside for emergencies. You will need them to make short-notice repairs and renovations on the property. You’ll also be the one responsible for the monthly mortgage payments and upkeep of your rental property if no one’s renting it.

Compare market prices

Talk to renters, property managers, and real estate agents around your area to see how much you should charge for your rental property. This is to make your property more attractive to potential tenants.

Choose properties in great locations

Location is key for most tenants. Check out a property’s proximity to the city, jobs, public transport, schools, etc. More importantly, if you’re planning on managing the property yourself, make certain that you live close to it. If not, consider hiring a property manager.

Hire a professional inspector

While an inspector might seem like an unnecessary expense, it’s actually crucial to determining the property’s real condition. This way, you’ll see how much repairs you need or don’t need to make. This will also help you determine whether you or your tenant is liable for any damages that occur during their stay.

Investing in rentals can be a lucrative source of income, but investing your money the wrong way can lead to disastrous consequences. To get the best results, consider working with a professional agency to show you the ropes.


Just How Beneficial Temp Agencies are for Your Business

Team collaborating for a projectAs an employer, you want to make sure that you do not leave any job unfinished or hanging. In fact, it is a must that you have every job position filled from day one, or you risk the wrath of your customers, the reputation of your organisation, and of course, the significant financial losses.

For this reason, you should not put off the hiring process when you suddenly find yourself dealing with a vacant position. The good news is, you do not have to spend a lot of time and resources in the search for the best person for the job, given that you work with an Auckland temp agency.

The primary reason you should work with a temp agency

Keeping your business intact and productive, especially after a sudden loss of an employee, is the main reason you should seek the services of a temp agency. No job position is too small to leave unfilled, regardless of how short the time you think you can afford to. This will only lead to numerous disruptions, which will not just affect the workplace’s overall productivity, but the morale of your existing employees too.

Loss of productivity can result in major losses, so before this happens, have someone highly qualified temporarily fulfil what needs fulfilling.

Minimising resource allocation for the employment process

Whether you need a long-term or part-time employee, you need to spend the right amount of resources in securing someone well-suited and qualified for the job. You cannot just hire someone without even checking his/her background, work experiences, qualifications, and of course, trustworthiness. Because you need to conduct the same level of investigation for a part-time employee as you would with a long-term one, it will consume just as many resources.

With a temp agency, you can reduce the steps necessary to find the perfect person for the job. These staffing firms already have conducted many of the essential pre-employment procedures, so all you have to do is conduct the final interviews to and select the talent most appropriate for the position.

3 Things You Need to Know About Hospital Utilization Review

Hospital admission reviews help protect both patients and hospitals from unnecessary medical treatments, admissions, and costs. If you are about to have a utilization review in your hospital, here are some things you need to know about the process.

What is Utilization Review?

Case Management Innovations agrees that a hospital utilization review is something that healthcare providers do to protect patients against “unnecessary and inappropriate medical care”. In this process, healthcare providers review documents on patient care by focusing on the quality of care provided, medical necessity, correctness of the decision-making, patient’s length of stay in the hospital, and more.

Why is Utilization Review important in healthcare?

Other than protecting patients against unnecessary medical treatments, URs help hospitals reduce costs and avoid fines. They also ensure that the hospital was able to provide patients with the appropriate treatment that matched their needs. In addition, the reviews make sure all the protocols set were followed during the treatment.

How can UR help outpatient care?

Utilization reviews help determine if there are any improvements that can be made to speed up the treatment process. It can also help healthcare providers look into the possibility of the treatment to be delivered through outpatient care so that patients don’t need to be admitted to the facility. This can greatly assist both hospitals and patients in reducing healthcare costs.

URs are created to help improve the healthcare system from both sides of the fences. Keep these things in mind if you are about to have URs in your own medical facility. It’s one of the steps you need to take to improve your hospital operations and patient care ratings. It can also help improve your ratings for customer satisfaction.

Reasons Behind the Growing Popularity of SaaS

Saas concept shot

More companies are using software as a service (SaaS) for data management as they realize that the benefits extend beyond reducing operational costs. When used in combination with stringent policies for accessing data, this technology can take businesses to the next level.

While SaaS is secure, companies should be aware that threats regularly exist for data security. Software providers create robust security protocols to protect businesses’ data. Find out why SaaS is becoming more popular these days.

Big Advantages

By now, it’s common knowledge that SaaS helps your company reduce costs by subscribing to a certain software. Unlike before, businesses now have the flexibility to choose the type of service based on their needs, as software providers have offered more options.

As a result, you only pay for what you use and you avoid unnecessary expenses. Automatic software updates also make SaaS popular among business owners. Several web-based packages eliminate the need to update manually.

Remote Work

SaaS also paved the way for telecommuting, which allows employees to work anywhere with an Internet connection. Companies that offer this arrangement as an added benefit for workers should be aware of certain risks to data protection.

As 43% of Americans worked away from the office in 2016, managing risks associated with telecommuting should be a priority. Some of these risks can be evident on how your company regulates the use of the BYOD (bring your own device) scheme. An employee’s device may not have the same security software or features compared to an office computer, so a clear policy should be enforced to avoid a data breach.

The growing popularity of SaaS further highlights the changing landscape on how companies handle their data. It’s better to adopt the technology as early as now, since your competitors may have already begun to use SaaS to improve their IT management.