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How Buying Policies and Approvals helps drive compliance
With a wealth of benefits, like saving money and creating more transparency, Buying Policies and Approvals is a solution that can enhance your purchasing environment.
Maintaining compliance with your organisation’s purchasing policies and procedures can be tough. But, it doesn’t have to be. Whether you are an administrator at a small business or a large enterprise, our comprehensive solution, Buying Policies and Approvals, helps your teams stay compliant. Here are some of the main benefits:
Reduce rogue spend
Set spend limits on orders to help your organisation keep a lid on maverick spend. This direct buyers in your organisation to stay within those limits or seek approval for orders exceeding those limits.
Simplify VAT Invoicing
Set up a policy to easily identify products with a downloadable VAT invoice. Once you enable VAT invoice policies, users will see a 'restricted' or 'blocked' flag in search results and product pages for products without a downloadable VAT invoice.
Encourage purchasing of recommended products
Identify your organisation’s preferred products or sellers, and restrict or block product categories to guide buyer behaviour across your organisation. This direction encourages buyers to purchase items from categories or sellers that your organisation prefers and discourages them from buying those that are restricted or blocked. They will be unable to purchase an item from a blocked category.
For items you have classified as restricted, you can identify the right approvers to evaluate and approve such orders whenever a buyer initiates a purchase. This feature is part of Guided Buying, available to all Business Prime members. If you are not a Business Prime member, sign up for a free trial to take advantage of Guided Buying.
Standardise purchasing
Guided Buying helps you avoid the inconsistency that comes with individual buying preferences, and helps you align the way your company purchases.
Manage purchasing and avoid bottlenecks
Driving adherence to buying policies does not have to slow down the purchasing process. You can identify the right approver for each policy, or assign multiple approvers to a policy to facilitate faster turnaround. Functionalities such as batch approvals allows approvers to approve multiple orders at once, enabling buyers to get what they need, when they need it.
Foster transparency
Approvers can provide comments for buying policies that clarify why they approve, reject or ask for adjustments to requests. This communication helps increase transparency and empowers buyers to purchase what they need while helping you maintain purchasing control.
If you are an Amazon Business customer, get started by visiting Buying Policies and Approvals, under Buying Policies in Business Settings. If you are not an Amazon Business customer, create a free account and learn more about how you can empower your buyers and manage spending.
“The rules incorporated in the new approach to using Amazon Business means that people are forced to think harder about mandatory contracts and about procurement rules.”
— Anthony Midgley, Category Manager and Procurement Systems Lead, University of Leicester
