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National Australia Bank Limited has released new GST ready software for National Purchasing System - a sophisticated, electronic, purchasing solution for businesses with small-value, high-volume transactions.
National Purchasing System is a flexible way for businesses to automate the purchasing process and save money. Under the system, Visa Purchasing Cards are used to make business purchases, and the software component, FlexiPurchase, generates expenditure reports so businesses can monitor and control their expenditure.
FlexiPurchase software has been updated and features a number of enhancements, including Goods & Services Tax (GST) management functionality. The new software calculates GST on all appropriate purchases and enables a range of different reports to be produced to assist businesses with GST management.
The purchasing system has been specifically designed for Australian and New Zealand business conditions and their respective regulatory and tax regimes. The software has been developed by Melbourne-based Inlogik Pty Limited.
Commenting on the newly released software, Mr George Beatty, National's Head of Global Cards, Australia, said: "With the GST now completely incorporated into the expenditure reports generated by the National Purchasing System, businesses will find the system an even better way to manage their business purchases and control costs.
"By using the National's Purchasing System, up to 80% of an organisation's day-to-day business purchases can be processed more efficiently. Businesses also save time and money, through lower administration costs, fewer suppliers, strategic sourcing and improved supplier relations.
"Past studies* have shown that businesses who switch to an automated purchasing system can actually reduce their purchase transaction costs by 73%," Mr Beatty said.
Medium and large businesses can benefit from the National Purchasing System. The system provides a choice of sophisticated software solutions, best practice implementation support and the choice of two cards - National Purchasing Card (Silver) and National Gold Corporate Card.
FlexiPurchase Business is a desktop version of the software, specifically designed for medium businesses.
Businesses interested in finding out more about the National's GST ready Purchasing System can do so by, visiting the National Purchasing Systems Website, or by telephoning the National on 13 10 12 (select option 2).
*Deloitte Touche Corporate Purchasing Best Practices Study (1998)
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