Multi-Company & Inter-Company
Consolidate purchasing across the entire organization, eliminate duplicate purchases, and take advantage of your buying power with volume discounts.
Centralizing the purchasing functions of an organization is good for business. You gain buying power, better positioning with vendors and improved communications across all departments and cost centers. Procurement and spend management software is the place to start centralizing your purchasing functions. With all direct and indirect spending routed through the same system, you can leverage your buying power, minimize waste and drive efficiency into the process.
Companies operating with multiple entities and/or multiple locations will benefit from centralizing their procurement functions, consolidating purchasing across the entire organization, eliminating duplicate purchases, and taking advantage of buying power by negotiating volume discounts.
Paramount WorkPlace simplifies multi-company and inter-company procurement with powerful, yet easy-to-use functionality.
Features and Benefits:
- Gain visibility:Enterprise-wide data is centralized for detailed analytics, dashboards, and performance metrics
- Speed invoice processing:Single session invoice processing capabilities regardless of payment location
- Inter-company transfers:Ability to transfer inventory among companies
- Central repository:Central repository for multiple AP ledgers
Terms & Definitions
What is Intercompany accounting:
Intercompany accounting is the process of recording financial transactions between different legal entities within the same parent company.