What is special about this new indirect procurement solution?
SuiteWorld — Oracle NetSuite announced NetSuite SuiteProcurement, a new indirect procurement solution that will help customers track and control every purchase from request to payment and streamline 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,” said 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 optimize spending and efficiently buy the goods and services needed to support growth.”
Business purchase savings with Amazon Business and Staples Business Advantage
Amazon Business and Staples Business Advantage will provide SuiteProcurement customers with substantial offers. For example, SuiteProcurement customers will be eligible for a 12-month, no-cost Amazon Business Prime Medium membership (valued at US$1,299) that provides business-only pricing and savings, and a 50 percent discount on membership renewals in subsequent years.
Industry Comments
“Amazon Business helps millions of business customers worldwide make smart business buying decisions, save time and money, and grow their companies,” said 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.”
Staples Business Advantage will offer NetSuite SuiteProcurement customers dynamic pricing to help them receive an average of 10 percent 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,” said Michele Parzianello, chief sales officer, Staples, Inc. “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.”
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Powered by Oracle Business Network, NetSuite SuiteProcurement will bring together business supplies and service vendors to help improve the buyer experience and accelerate and control purchasing. NetSuite SuiteProcurement integrates 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 organizational 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 centralizing 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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