Last Modified: May 25th, 2023
2 min read
Unlock the Power of the NetSuite Advanced Procurement Module for Improved Business Efficiency
Overview of the NetSuite Advanced Procurement Module
NetSuite Advanced Procurement enables companies to take full control over their spending and the overall procurement process, resulting in significant cost savings and improved efficiency. Its user-friendly interface simplifies requests for goods and services, while its real-time visibility provides transparency across the entire supply chain. With reliable insights into performance, companies can make smarter purchasing decisions and better manage their inventory.
NetSuite Advanced Procurement has all the features companies need to create an efficient, cost-effective procure-to-pay process. It simplifies the requisition process with pre-approved suppliers and product catalogs, while its automated workflows enable users to streamline the approval process. Companies can also manage their budgets, reduce maverick spending, and track progress in real time.
With the NetSuite Advanced Procurement Module (APM), you can:
- Integrate with other NetSuite business applications to streamline the purchase order process.
- Automatically generate Purchase Requisitions and automatically convert them into Purchase Orders.
- Create multiple PO types such as Stock Orders, Non-Stock Order and Special Order based on your organization’s needs.
- Connect with suppliers via the Supplier Network to easily manage supplier relationships and gain visibility into their performance.
- Track real-time purchase orders, invoices and payments securely via an always-on dashboard.
- Monitor key purchasing metrics such as spend analysis, budgeting, supplier performance and quality management to ensure accurate and timely delivery.
- Utilize advanced tools such as analytics and reporting to gain better insights into procurement trends.
- Streamline the Approval Process with built-in approval routing capabilities that enable users to easily approve or reject requests quickly.
- Improve efficiency by leveraging automated workflows, rules-based alerts and notifications that help to ensure that tasks are completed in a timely manner.
Tips for optimizing your use of the module
- Utilize the NetSuite Supplier Network to manage supplier relationships and gain visibility into their performance.
- Leverage analytics and reporting tools to gain insights into procurement trends.
- Automate workflows, rules-based alerts, and notifications to ensure that tasks are completed in a timely manner.
- Utilize the Purchasing Dashboard to track purchase orders, invoices, and payments in real-time.
- Take advantage of budget management capabilities to reduce maverick spending and ensure better compliance.
- Ensure accuracy by utilizing quality management tools for supplier performance evaluation.
Are you ready to get started with NetSuite Advanced Procurement Module (APM)?
Overall, NetSuite Advanced Procure is an effective solution for seeking to simplify their requisition process while improving visibility into the procurement process. By leveraging its capabilities, organizations can reduce maverick spending, ensure better compliance and increase overall efficiency in their purchasing process.
Are you ready to get started? Contact us today and start to benefit from a streamlined, efficient procurement process!