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Oracle NetSuite Procurement – Streamline procure to pay operations

Solution Advantage

Helping organisation better manager procurment controls, month-end-close, reporting and compliance.

Fast & Accurate

Oracle NetSuite’s procurement capabilities helps companies buy goods and services at the best cost and in a timely manner by saving employees’ valuable time with easy-to-use capabilities, reducing costs by channeling purchases to approved suppliers and pre-negotiated contracts, and improving visibility by rendering real-time information into company spend and vendor performance. NetSuite also streamlines and improves the accuracy of the procure-to-pay process by automating and linking key procurement transactions and providing approval and matching workflows to support internal controls and compliance requirements.

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Complete Business Solutions

Features & Benefits

BLANKET POs

While purchasing contracts manage the commercial nature of vendor relationships, blanket POs allow users to establish and track specific delivery schedules. When used in conjunction with purchasing contracts, blanket POs allow complete control over when to receive products and how much the business as agreed to pay for them.

Key Capabilities:

  • Enter and track delivery schedules
  • Updated automatically from transactions
  • Reduced workload for your buyer

PURCHASE ORDER MANAGEMENT

Creating and managing purchase orders is one of the simplest aspects of the system. The order items screen is the main place a user goes to monitor the list of items to be replenished, whether they are generated from the supply planning process, blanket POs or re-order point parameters. NetSuite allows you to order a mix of inventory, expense and service items on the same order. If there is a purchasing contract in place, the appropriate pricing will be applied automatically. Reminders can be customized to let you know when orders are expected to be received. Simple lists in NetSuite help to automate and expedite the purchase order management process.

Key Capabilities:

  • Order inventory, expense and service items
  • Simple but powerful order processing
  • Reminders for due or late orders

APPROVALS

NetSuite offers two approval processes out-of-the-box. The first is a simple approval process based on a dollar amount assigned to the employee. For more advanced approval processes, businesses utilize the SuiteFlow approval routings that come with customizable sample workflows. Workflows can be modified to consider aspects such as department budgets, location, item type or project. The graphical nature of the workflow tool makes it easy to create, monitor and maintain.

Key Capabilities:

  • Graphical interface
  • Interacts with all areas of the system
  • Reminder or email-driven notifications

Vendor Management

CRM was one of the pillars that NetSuite was built on and those key features also apply to the ability to manage vendor relations. Vendors can be easily onboarded and then audited on a regular basis using workflows. Every transaction is tracked, analyzed and then included in the vendor scorecard, letting users easily keep track of vendor performance. The vendor portal is an additional free feature that allows users to quickly and easily collaborate on current and future projects.

Key Capabilities:

  • Centralized vendor management
  • Free collaboration portals
  • Vendor scorecard

REQUEST FOR QUOTE

Gathering quotes for new items or updating pricing on existing quotes can be time consuming and complicated. NetSuite’s RFQ feature allows users to easily manage everything from one screen. This includes: gathering requirements, selecting vendors, communicating specifications, receiving bids and updating pricing. Once the vendor is selected, all information is automatically updated in the vendor and item records. Users can also create purchasing contracts and workflows can be utilized where approvals are required.

Key Capabilities:

  • Track multiple vendors
  • Flexible pricing scenarios
  • Track terms and condition

PURCHASE CONTRACT

Establishing commercial terms and ensuring compliance is a critical part of maintaining a business’s cost control. NetSuite allows users to do this using our purchasing contracts feature. Contracts can be established manually or automatically from the RFQ process and can also be created for future dates with automatic activation. Minimum and maximum spend can be defined, and NetSuite also keeps track of the total amounts purchased, billed and received.

Key Capabilities:

  • Ensure commercial compliance
  • Updated automatically from transactions
  • Automatically created from RFQ’s

ITEM RECEIPT

Clearly communicating ordered items, expected delivery dates, quality requirements and specifications is critical in maintaining operational efficiency. With NetSuite, sharing information with all parties is simple. Using the vendor portal, suppliers can log in at any time and get the latest relevant information. Confirmation- and update-related communications are automated and the actual receiving process can be performed with barcode scanners using NetSuite’s Warehouse Management Solution.

Key Capabilities:

  • Simple but effective receiving processes
  • Quickly verify item specifications
  • Automate receiving with barcode scanners

VENDOR BILL MANAGEMENT

Receiving and entering invoices from suppliers is the first step in the process of completing the procure to pay cycle. When a vendor is submitting an invoice against a purchase order, NetSuite lets users select the order it was based upon and pre-populates all of the relevant information for verification. Vendor bills can also be manually entered, imported from a CSV file or automatically imported through web services in cases where tighter integration is desired.

Key Capabilities:

  • Pre-populate based on purchase order
  • Automatic verification
  • Options for importing, updating automatically.

3 WAY MATCHING

Once the purchase order, receipt and bill have been entered into the system, the formal process of comparing and matching these documents begins. NetSuite has standard fields to determine the typical matching criteria that should be used along with several SuiteFlow-based workflows that allow you to handle exceptions while automatically approving those that comply based on pre-defined specifications. Once approved, the accounts payable department can determine which bills to pay and in which timeframe to optimize cashflow.

Key Capabilities:

  • Ensure compliance with matching criteria
  • Workflow driven approvals
  • Schedule payments for optimal cash flow

THIS IS WHY WE DO WHAT WE DO

  • AVT team have always gone that extra mile to give us superior service and timely support.

    James Vallejo
    James Vallejo TRT
  • I've been working with AVT since 2009 on integration project and other IT related tasks. The team at AVT is extremely professional, quick, reliable, effective and confidential. Project has been completed in time manner as per scheduled. It's a pleasure to work with AVT and looking forward for future cooperation.

    Phuong Nguyen
    Phuong Nguyen ABOUT LIFE
  • AVT played an integral part in our integration project where they developed many complex solutions to meet our unique business needs and their assistance with integration of Netsuite with our existing business systems was invaluable.

    Mary Wong
    Mary Wong LEXIS NEXIS
  • Our experience with AVT has been very positive. AVT has enabled us to deliver advanced business solution to Rockridge Group. We have circa 150 Netsuite users across our partner companies and AVT has effectively implemented our most complex customisations.

    Leon Condon
    Leon Condon FRESH PRODUCE GROUP
  • AVT have become a key partner to our business through their ability to provide peace of mind when it comes to our Netsuite requirements. AVT played an integral role in our Netsuite implementation and subsequent projects including our Webstore. AVT’s ability to quickly understand our unique needs, develop and then implement a complete solution in a coordinated and timely manner was invaluable to our business.

    Michael Barnes
    Michael Barnes AUTOLAC
  • Mint Wireless is a global business, listed on the Australian Securities Exchange. We were looking for a NetSuite solution provider who could help us optimise NetSuite and address our growing business needs. We choose AVT in this endeavour and found them to be very professional in delivering to our business requirements. AVT trained our staff, assisted in optimising our sales process and help us introduce a new subsidiary into our NetSuite OneWorld account.

    Alex Ng
    Alex Ng MINT WIRELESS
  • Linkup is an innovative consulting business bringing Instinctive Drives® tools and services to Tier 1 markets. Our trademark tool is the I.D. System®. AVT team has played an integral role in providing an integrated solution for the I.D. System® with our ERP, NetSuite. They worked closely with us to understand our requirements and are very responsive to requests for ongoing maintenance and management of the system. We recommend AVT for systems Integration and ERP transformation services.

    Michelle Elliott
    Michelle Elliott INSTINCTIVE DRIVES
  • Our NetSuite Implementation required multiple points of integration with a third party Government application. AVT provided us with a complete solution and the confidence that our business needs would be achieved efficiently and costs effectively.

    Rimma Levin
    Rimma Levin STARKEY HEARING TECHNOLOGIES
  • Thanks to AVT’s integrated solution between IFS SmartFreight® and our NetSuite system, we have increased our order processing from 200 orders a day to 300 orders a day, without strain. Our shipping process is now highly automated, which is easier to use and more accurate – leaving us with happier customers and more pleased employees.

    Michael Simms
    Michael Simms CELL BIKES

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