Purchasing can be a time-consuming and inefficient ordeal, especially when requests for goods and services have to be processed manually using a combination of phone calls, emails, paper catalogs and faxes. NetSuite’s procurement solution 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.

Features:

Source- Use NetSuite to manage your vendors, process RFQ’s, establish contracts and enforce procurement policies.

Purchase- Automate your requisitioning and purchasing processes from our user configurable Procurement dashboard.

Pay- Easily match purchase orders, item receipts and vendor bills with configurable workflows to optimize cash flow.

Benefits:

Streamline procure to pay- Automate business processes to reduce your average procure to pay timeline and increase cash flow.

Achieve cost certainty- Use NetSuite’s many costing methods to improve your costing accuracy and stabilize gross profit.

Improve Product Quality- Use our native requisition and RFQ tools to manage vendor selection and improve product quality.