A NetSuite-connected solution for procure-to-pay processes
To make smart purchasing decisions and improve cost management, procurement professionals need a comprehensive tool to ensure they secure the optimal pricing from the best vendor. Discover Rand Group’s procure-to-pay solution built on NetSuite that helps create greater efficiencies with easy-to-use automation tools, reduce costs by channeling purchases to approved suppliers and pre-negotiated contracts, plus gain visibility via real-time insights into company spend and vendor performance.
Manage vendors, control payment processes, and control spend
Procure-to-pay, available natively in NetSuite ERP, is a cloud-based solution to help companies buy goods and services at the best price and in a timely manner by routing purchase orders to approved suppliers and pre-negotiated contracts. It helps improve visibility by generating real-time views into company spend and vendor performance, and enables clear communication throughout the procure-to-pay process. With an all-in-one procurement solution that integrates with your ERP, purchasing managers can negotiate better contracts and capitalize on economies of scale, vendors and buyers can collaborate in real-time, and cost controls can eliminate the impact of unexpected price increases.
Rand Group is your Oracle NetSuite Solution Provider and technology partner to implement the procure-to-pay solution that will help you gain a 360-degree view of purchasing operations. Our software engineers will implement NetSuite and its procurement capabilities tailored to your unique business and supply chain processes. We also offer extensive training to ensure user adoption and long-term return on investment from your business solutions.
Avoid unnecessary spending with approval workflows
Automate the requisitioning process to ensure compliance with quality and cost guidelines as employees enter requests to purchase materials or services from vendors. Require the approval of requests before they can be processed into purchase orders.
Monitor key information with the procurement dashboard
Quickly track all outstanding transactions, vendor performance, expenditure across segments within the organization, and more in an easy-to-read dashboard with reports, reminders, and tables.
Use an online portal for vendor communication
Allow vendors to review order information, submit quotes, stay connected, and reduce back and forth emailing with an online portal. Enter unique information for each vendor such as approved items and pricing, financial data, relationship information, contracts, and more.
Set clear cost controls with NetSuite ERP
With NetSuite ERP delivered with a tailored procure-to-pay model from Rand Group, you can ensure all necessary information to submit an RFQ, including price, quantity, and data is readily available to all parties, automate processes to make it easier to submit a project to multiple vendors, and use purchasing contracts and blanket purchase orders to save time.
Procurement features in NetSuite ERP include:
- Workflows to manage requests for quotes (RFQs)
- Ability to apply contracted terms, pricing, and delivery schedules
- Configuration of minimum and maximum spends
- Blanket purchase orders
Get increased visibility with a vendor management portal
An effective method to boost supply chain resilience is to prioritize vendor relationships. NetSuite ERP delivered by Rand Group makes this process effortless for users by increasing visibility and centralizing data.
Vendor management features in NetSuite ERP include:
- A portal to centrally manage all aspects of supplier communications
- Ability to track which purchase orders are outstanding and completed
- Built-in reports on vendor performance and what projects are in progress
- A vendor scorecard to track key KPIs such as on-time deliveries, defect rates, and prices
- Ability to review all quotes together and negotiate optimal terms
Discover other business solutions offered by Rand Group
Rand Group offers numerous solutions for supply chain optimization that we tailor to each client to transform your operations. Our team of NetSuite-certified software engineers will ensure your solution integrates with the rest of your technology stack and can accommodate unique processes and facilitate data flows. Explore other solutions below to compliment procure-to-pay.
Supply & Demand Planning
Ensure you always have the right amount of inventory on hand to fill orders by accurately forecasting needs based on historical demand, seasonality, open opportunities, and sales forecasts. Calculate and generate both demand and supply plans, plus execute orders using a comprehensive supply and demand planning solution.
Product Data Management
Manage all information and processes related to your products from the beginning of its lifecycle to its end across supply chains networks. With a product data management solution, unify processes for faster decision-making, reduce the time from innovation to launch, improve quality, and enforce product compliance.
NetSuite ERP
NetSuite’s ERP software includes everything your business needs – from financial management to inventory, supply chain, and warehouse management. With powerful procurement capabilities, you can ensure you buy the right goods at the best price from the best vendor.
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