Our Solutions
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.
Complete Business Solutions
Features & Benefits
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:
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:
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:
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:
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:
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:
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:
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:
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:
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