How Oracle is Giving More Control of Indirect Procurement
Oracle NetSuite has announced NetSuite SuiteProcurement, a new indirect procurement solution that will assist its customers in tracking and controlling every purchase – from request to payment, streamlining the procurement process.
Amazon Business and Staples Business Advantage are the first suppliers to support this solution by offering benefits to SuiteProcurement customers.
"For growing businesses, indirect procurement can be a time-consuming and costly process that negatively impacts the bottom line," says Evan Goldberg, Founder and Executive Vice President, Oracle NetSuite.
"By giving customers access to great offers they can purchase from Amazon Business and Staples Business Advantage directly in NetSuite, SuiteProcurement will help them optimise spending and efficiently buy the goods and services needed to support growth."
Business purchase savings
With platforms like Amazon Business and Staples Business Advantage, it will provide the SuiteProcurement customers with substantial offers. Users of SuiteProcurement will be eligible for a 12-month, no-cost Amazon Business Prime Medium membership (valued at US$1,299) which will give companies access to business-only pricing and savings – as well as a 50% discount on membership renewals in the following years.
"Amazon Business helps millions of business customers worldwide make smart business buying decisions, save time and money and grow their companies," adds Mobeen Khan, Amazon Business, Director of Business Development and Global Partnerships.
"We are very excited to collaborate with NetSuite on the upcoming launch of SuiteProcurement, giving our mutual customers instant access to a vast selection and amazing deals on their everyday business purchases."
The benefits of the platform also extend to Staples Business Advantage, which will offer NetSuite SuiteProcurement customers dynamic pricing to help them receive an average of 10% savings on all business essentials.
"For over 30 years, Staples Business Advantage has helped businesses across industries gain the resources they need to remain productive," says Michele Parzianello, Chief Sales Officer, Staples.
"With NetSuite SuiteProcurement, we will help NetSuite customers gain greater access to our comprehensive range of business essentials with preferred pricing to help drive operational efficiency."
Bringing together suppliers and vendors
Powered by Oracle Business Network, NetSuite SuiteProcurement will create a space in which business supplies and service vendors will help improve the buyer experience and accelerate and control purchasing.
NetSuite SuiteProcurement integrated financial and procurement workflows to provide:
Seamless vendor integrations: Help customers reduce costs and enhance financial controls by establishing trading partner relationships and providing access to preferred pricing on goods and services through the Oracle Business Network.
Automated approval processes: Help customers support compliance with organisational policies and protect the bottom line by automatically routing purchase order requests for approvals and enabling tailored approval workflows based on employee location, department and spending amount.
Automated purchase order creation and invoicing: Helps customers confirm orders are fulfilled and paid on time by transmitting purchase orders directly to vendors and automating order confirmation, shipping and vendor bills.
Complete visibility of spend: Helps customers reduce costs and improve relationships with suppliers by providing complete and real-time insights on spending across locations, departments, vendors, projects and accounting codes.
Improved data accuracy: Helps customers ensure procurement data accuracy by centralising all purchase order details including description of items purchased, manufacturer name and manufacturer item number.
Streamlined accounting processes: Help customers reduce manual work and track spending against budgets by leveraging pre-defined category mapping to automatically post to the appropriate general ledger accounts.
Availability
NetSuite SuiteProcurement is planned to be available in North America within the next 12 months.
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