Oracle NetSuite
Procurement
Helps your business control spending by effectively managing vendor relationships and automating purchase processes
Effectively Manage Vendor Relationships, Source-To-Pay Processes and Control Spend
Oracle NetSuite Procurement is designed to streamline the purchasing of goods and services for businesses, ensuring cost-effective and timely procurement through the routing of purchase orders to approved suppliers and negotiated contracts.
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. The goal is to help companies buy goods and services at the best cost and in a timely manner.
Oracle NetSuite helps to achieve this goal by:
- Saving employees’ valuable time with more automated process.
- Reducing costs by channeling purchases to approved suppliers and pre-negotiated contracts.
- Improving visibility by rendering real-time information on company spend and vendor performance.
Oracle NetSuite Procurement Management
Vendor Management
Provides a centralized repository for all vendor information, including contact details, performance history, and contract terms. This allows for better vendor relationships, streamlined communication, and improved vendor selection.
Vendor Portal
Provides a hub for buyers and suppliers to collaborate on new and existing projects. This not only eliminates email tag, it keeps all communications, documents and proposals in one place and associated with the correct vendor record.
Item Management
Maintains a comprehensive catalog of items offered by vendors, including descriptions, pricing, and availability to ensure accurate ordering and help control costs.
Request for Quote
Enables businesses to solicit competitive bids from multiple vendors for specific goods or services to secure the best possible pricing.
Purchasing Contracts Payable (AP) Aging
Tracks outstanding vendor payments and provides insights into payment schedules to manage cash flow and avoid late payment penalties.
Blanket POs
Allows for the creation of pre-approved purchase orders for recurring purchases over a specified period. This simplifies ordering and reduces the need for individual POs for routine items.
Requisitions
Facilitates internal requests for goods or services from employees. This ensures proper authorization and helps control spending.
Purchasing Order
Generates formal purchase orders based on approved requisitions or direct requests to create a legally binding agreement with the vendor.
Workflow Approvals
Routes purchase orders through a defined approval process based on predefined rules and hierarchies to ensure proper authorization and compliance.
Procurement Dashboard
Provides real-time visibility into key procurement metrics, such as purchase order status, spend analysis, and vendor performance.
Item Receipt
Records the receipt of goods or services from vendors, ensuring accurate inventory management and reconciliation with purchase orders.
Vendor Bill
Captures and processes vendor invoices, including matching them against purchase orders and receipts to ensure accurate payment and prevent discrepancies.
The Three-Way Match Vendor Bill Approval
Compares the purchase order, item receipt, and vendor invoice to ensure accuracy and prevent fraud.
Billing Payments
Facilitates the payment of vendor invoices through various methods, such as electronic funds transfer or checks.
Download Datasheet
Contact Us
Fill up the form and we will contact you immediately
Explore other Oracle NetSuite Solutions
Oracle NetSuite offers a variety of solutions tailored to meet the specific requirements of different industries, functions, and business needs.
Healthcare and Clinic Services
Optimize Healthcare Processes and Manage Patient Records efficiently.
Get in Touch
Your system requirements are important to us! Call us to schedule a consultation and get faster assistance.
Phone Number
+65 6859 0320
inquire@ogis-cloudtech.com
Map Street