Oracle NetSuite has introduced NetSuite SuiteProcurement, a new indirect procurement solution designed to help businesses streamline their purchasing processes, from requests to payments. This tool is aimed at giving procurement teams more control over their indirect procurement operations by tracking and managing every purchase efficiently.
To support this solution, Amazon Business and Staples Business Advantage have partnered with Oracle, offering exclusive benefits to SuiteProcurement customers.
Evan Goldberg, Founder and Executive Vice President of Oracle NetSuite, emphasized the challenges of indirect procurement for growing businesses:
“For growing businesses, indirect procurement can be a time-consuming and costly process that negatively impacts the bottom line. 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.”
Key Benefits for SuiteProcurement Customers
SuiteProcurement users will receive special offers from Amazon Business, including a 12-month free Amazon Business Prime Medium membership (valued at US$1,299) with access to business-only pricing and savings. Customers will also get a 50% discount on membership renewals in subsequent years. Mobeen Khan, Director of Business Development and Global Partnerships at Amazon Business, expressed enthusiasm for the partnership:
“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.”
In addition, Staples Business Advantage will offer SuiteProcurement customers dynamic pricing, leading to an average savings of 10% on business essentials. Michele Parzianello, Chief Sales Officer of Staples, noted the advantages of this collaboration:
“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.”
Features of NetSuite SuiteProcurement
NetSuite SuiteProcurement integrates financial and procurement workflows, offering several advantages:
- Seamless vendor integration: Provides access to preferred pricing through the Oracle Business Network, helping businesses reduce costs and enhance financial control.
- Automated approval processes: Supports compliance by automatically routing purchase requests for approval, with workflows tailored by employee location, department, and spending limits.
- Automated purchase order creation and invoicing: Ensures timely fulfillment and payment by directly transmitting orders and automating order confirmations and vendor billing.
- Complete spend visibility: Offers real-time insights into spending across departments, locations, and projects to improve supplier relationships and control costs.
- Improved data accuracy: Centralizes purchase order details to ensure data accuracy and reduce errors.
- Streamlined accounting processes: Reduces manual work and aligns spending with budgets by automatically posting transactions to the correct general ledger accounts.
Availability
NetSuite SuiteProcurement is expected to launch in North America within the next 12 months, bringing enhanced control and savings to businesses looking to optimize their indirect procurement operations
