iReckoner Purchase Management

Purchase Function in any organization has to maintain an uninterrupted flow of materials while at the same time it has to reduce inventory obsolescence without a reduction in consumer satisfaction. It must have an accurate specification of materials required and a clear understanding of their cost and importance.

iReckoner Purchase Management

Purchasing signifies much more than simply buying. The purchase department must find the description and details of the materials needed, send enquiries, obtain quotations from the reliable suppliers, negotiate the price and contractual conditions of the supply, place the order, and follow up with the supplier to ensure timely delivery of the material. iReckoner Purchase makes it simpler for the organization to handle these wide ranges of activities.

iReckoner Purchase consists of the following documents: Indent, Request for Quotation, Quotation Registration, Purchase Order and Invoice.

In an organization, procurement of a different type of product follows different processes. iReckoner Purchase Management handles the purchase of Raw material, Packing Material, General Stores and Capital Goods. iReckoner Purchase maintains Vendors information with their details.

Raw Material and Packing Material procurement process typically begins with an indent against which a purchase enquiry is raised. When suppliers submit the quotation, the best-suited quotation is selected and a Purchase Order is generated alongwith a delivery schedule.

In case of Raw Material and Packing Material procurement, it could be on the basis of a contract or standalone. In a contract the delivery schedule is specified.

Unlike Raw material procurement, the process of procuring a General stores item and Capital goods generally is standalone and begins with raising an indent, sending a RFQ, registering a quotation, raising a Purchase Order and follow up.

Often the Purchase Order needs to be revised. iReckoner Purchase provides the functionality for PO Revision allotting a unique serial no. with every revision. In case of purchase of services there is no Good Receipt stage as services are deemed to have been consumed the moment they are bought. Thus their bill passing can be directly initiated after purchase order has been authorized.

The role of the purchase does not end with acceptance of quality goods; payment has to be made for the same. iReckoner Purchase has a formalized bill passing procedure. The System validates, the invoice with the charges from the Purchase Order and quantity from the Goods Receipt. Once this Invoice is authorized, the system automatically generates a Purchase Voucher in iReckoner Financials.

iReckoner Purchase interacts with iReckoner Inventory. Purchase Order is associated as the reference document in GRIN.

iReckoner provides unique features whereby different charge components can have different accounts associated with them and thus debit these accounts accordingly. iReckoner Purchase further interacts with Accounts Receivables and Payables for Payment Processing and Analysis.


Vendor management

  • Maintenance of source list of vendors for each of the materials and services with automatic updation and amendment.


  • Document registers for maintenance of day-to-day transactions.
  • Comprehensive Purchase Information System to facilitate decisions on supply and delivery schedules
  • MIS reports for periodic review.
  • Line item tracking of each material in the procurement chain.

Managing Purchase Life Cycle

  • Creation of Purchase requisition documents manually as well as automatically by the Material Requirement Planning Process.


  • Comprehensive bill passing procedure through invoice document enabling amount verification and payment processing.
  • Automatic creation of Purchase Voucher on authorization of an invoice, and its payable entry mentioning due date.
  • Multiple Units of Measurement for single item specifying primary and secondary UOMS with definable conversion factors.

Purchasing Management

  • Document based management of the entire purchase cycle starting from Purchase Requisition to Bill Passing.
  • Minimises data entry work using reference documents and menu dropdowns.
  • Online Authorization of Documents in a workflow based system.
  • Documents and Reports can be printed and saved in various formats.

Standard iReckoner Features

  • Online Authorization of Documents
  • True Workflow based system.
  • In built Mail system.
  • Alerts can be set in the system to monitor exception activities or events.
  • Ensures people access only the information they need and are authorized to access

Sub-Modules & Reports List

Sub Module

  • Purchase Management
  • Pricing
  • Vendor Management


Request For Quotation
Quotation Registration
Purchase Order
Delivery Schedule


Indent Registers
Request for Quotation Register
Quotation Register
Purchase Order Register
Invoice Register