NetSuite SuiteProcurement Indirect Procurement Software Solution

What is NetSuite SuiteProcurement?

NetSuite SuiteProcurement is an indirect procurement application embedded in NetSuite that provides an efficient, cost-effective, and transparent process to purchase indirect goods and services. SuiteProcurement lets buyers shop directly from a supplier’s online store, giving them access to volume discounts on goods and services by centralizing purchasing power with a select set of vendors. Whether you’re automating item procurement, creating purchase orders, managing approvals, or processing bills, SuiteProcurement helps improve the entire buying process and bolsters compliance with organizational policies.

Indirect purchasing directly from NetSuite

Visibility and Control Over Every Purchase

Easily keep track of all procurement costs, including tail spend, with details such as item description, manufacturer name, and item number included in the purchase request.

Automate Accounting Processes

Items are automatically costed to the appropriate general ledger (GL) accounts with no manual intervention from the accounting staff thanks to predefined category mapping, saving staff time and greatly improving accuracy.

NetSuite SuiteProcurement Benefits

Reduce Costs. Get more competitive prices on goods and services by centralizing your purchasing power with a smaller group of vendors and lower overhead costs by cutting the number of suppliers your team manages.
Increase Efficiency and Accuracy. Eliminate manual processes by automating approval processes and managing documents electronically.
Better Spend Oversite and Controls. Track and control every purchase, from request to payment, to execute more compliant and effective procurement.
Understand Financial Impacts. Gain visibility into how purchases affect maintenance, repair, and operations (MRO) inventory budgets.

NetSuite SuiteProcurement Features

NetSuite SuiteProcurement brings the indirect procurement experience inside of NetSuite, providing visibility into purchases and their impacts on budgets SuiteProcurement supports the entire lifecycle, from procurement to payment.

Consumer-Like Buying

The software leverages Oracle Business Network (OBN) to establish trading partner relationships and facilitate all electronic document exchanges. Businesses can punch out to vendor ecommerce sites, shop for items, and check out, and the application then automatically creates a purchase request within NetSuite and initiates the approval process.

Approval Routing

Purchase requests are automatically routed to the right leaders for approvals. Set up approval workflows tailored to your specific needs by location, department, amount, and more.

Purchase Order Creation

Once approved, purchase orders are automatically transmitted to the vendor. Other communications such as order confirmations, shipping notifications, delivery notifications, and vendor bills are all tracked in NetSuite so you can take action right away.

Accounting

Automatically cost purchases to the correct GL accounts to track that spend comes from the appropriate budget and avoid manual accounting adjustments.

Challenges NetSuite SuiteProcurement Solves

Rogue Spend. SuiteProcurement enforces purchasing from approved vendors and provides full visibility into what items are being purchased since the whole process, from start to finish, happens in NetSuite.
Manual Processes. The system automatically generates purchase requests with the selected items and routes them for approval, eliminating manual processes that often cause delays.
Multiple Disconnected Systems. As part of a single, unified solution, SuiteProcurement automates much of the accounting related to purchasing and lets you see purcahsing’s impact on budgets across the organization.
Slow End User Adoption. SuiteProcurement is an intuitive solution with a familiar user interface designed for all NetSuite users.

Faster Time to Value

NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.

How Much Does NetSuite SuiteProcurement Cost?

Companies of every size, from prerevenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules, and the number of users. There is also a one-time implementation fee for initial setup. As your business grows, you can easily activate new modules and add users—that’s the beauty of cloud software.

NetSuite SuiteProcurement is an add-on module.

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Resources

Data Sheets

Data Sheets

Access specifications, features, and benefits of NetSuite SuiteProcurement.

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