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.