Procurement

What is NetSuite Procurement?

NetSuite Procurement helps companies buy goods and services at the best price and in a timely manner by channeling purchase orders to approved suppliers and pre-negotiated contracts. Save time and money by centrally managing vendors and the procurement process. Improve visibility by generating real-time views into company spend and vendor performance, and enable clear communication throughout the procure-to-pay process. All procurement-related information — from transactions and records to vendor performance and expenditures by department — is consolidated in the procurement dashboard.

NetSuite Procurement Benefits

• Increased Profitability. With readily accessible information of all items a vendor is supplying, purchasing managers can negotiate better contracts and capitalize on economies of scale.
• Better Visibility. All vendor information and related projects are located within a single place, ensuring buyers can easily access complete, relevant data.
• Improved Vendor Relationships. Vendors and buyers can collaborate in real-time via the vendor portal, allowing them to easily share documents and ideas.
• Cost Controls. Purchase orders define costs for items requested and eliminate unexpected price increases and invoices that don’t match what was ordered.
• Identification of Variances. Three-way matching highlights variances between the PO and receiving and billing records.