Procurement
Optimise Your Procurement with
Workflow-Driven Approval Routings for Cost Certainty
Procurement or purchase 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 catalogues and faxes.
Oracle NetSuite’s procurement solution helps companies to purchase goods and services at the best cost and in a timely manner by saving valuable time for employees with easy-to-use features, reducing costs by channelling orders to approved suppliers and pre-negotiated contracts, and increasing transparency by making real-time information accessible to business spending and vendor results.
Oracle NetSuite also streamlines and improves the accuracy of the procure-to-pay system by automating and connecting main procurement transactions and offering workflow authorization and matching to support internal controls and compliance requirements.
Features
- Source
A Request for Quote (RFQ) is a request sent to one or more vendors asking them to provide specifics about their pricing, terms and conditions related to a purchase contract for a product they provide. Usually, the pricing request is tiered, which means that by purchasing larger quantities of an item, the price per individual unit goes down. A vendor may also opt to provide additional discounts when a specified total amount has been spent across all items purchased within a specified time frame. - Purchase
Oracle NetSuite can help create purchase orders for the appropriate items and quantities, help track special orders, and enable drop shipments. Vendors can access a business’s account through the vendor portal, which allows all purchase orders placed for them. - Pay
Easily match purchase orders, item receipts and vendor bills with configurable workflows to optimize cash flow.
Key Benefits for Procurement
- Streamline Procure to Pay
Automate business processes to reduce your average procure to pay timeline and increase cash flow.
- Achieve Cost Certainty
Use Oracle 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.
Oracle NetSuite Services Resource Planning (SRP)
Oracle NetSuite SRP provides a comprehensive, end-to-end SRP solution that supports an entire services business.
Talk to our Oracle NetSuite Experts
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