The Purchase Requisition Approval Process is the official procedure by which any requests for goods or services are vetted and approved. It’s a crucial part of running a business, allowing for transparency, accountability and maximum efficiency when it comes to procurement.
It begins with a request from an individual or department to purchase something, which is then routed through the appropriate channels. The requester’s superiors review and approve the request, before it is sent to the purchasing team for evaluation. If the item requested meets their criteria, it is approved and moved to the next step of the process. At this stage, budgeting, contracts and terms are all negotiated to ensure that the best deals are secured. Finally, the item is delivered or picked up as outlined in the contract, while invoices are sent out and payments made accordingly.

The Purchase Requisition Approval Process allows businesses to ensure they get value for money while simultaneously protecting the interests of their own organisation. It’s an important part of ensuring that your company runs smoothly!