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Oracle NetSuite Unveils SuiteProcurement to Streamline Indirect Procurement

NetSuite

Business Honor
27 Febuary, 2025

Oracle NetSuite's SuiteProcurement streamlines indirect procurement, offering discounts and improved financial control for businesses.

NetSuite procurement introduced by oracle NetSuite is a new indirect procurement solution which is designed to accelerate the procurement process and speed up in assisting the customers in tracking and managing each transaction from start to end. Amazon Business and staples Business Advantage are the two early providers who support this solution.

Indirect procurement may be a time-consuming and expensive procedure that can negatively impact the profitability of expanding companies, according to the founder and executive vice president of Oracle NetSuite. He clarified that by providing access to fantastic offers like Amazon Business and Staples Business Advantage right within NetSuite, Suite Procurement would help clients maximize their expenditure and effectively buy the products and services they need to support their expansion.

Mobeen Khan, Director of Business Development and Global Partnerships for Amazon Business, stated that Amazon Business assists millions of business customers worldwide in making informed purchasing decisions, saving time and money, and fostering business growth. He expressed enthusiasm about collaborating with NetSuite on the upcoming SuiteProcurement launch, which will provide their mutual clients with immediate access to a wide range of products and great discounts for their everyday business needs.

Another advantage of the dynamic pricing is that an average of 10% on all business necessities will be saved by the customers of NetSuite SuiteProcurement. Michele Parzianello, Chief Sales Officer at Staples, Inc. shared that Staples Business Advantage has been supporting businesses across various industries for over 30 years by providing the resources necessary to maintain productivity.

To speed up the procurement process, NetSuite SuiteProcurement, which is powered by Oracle Business Network, combines the finance and procurement processes. It offers whole vendor integrations for cost savings and enhanced financial control, automated purchase order generation and invoicing for on-time fulfillment and payments, and automated approval processes to ensure policy compliance. Additionally, it provides real-time expenditure information, simplifies accounting processes, and improves data accuracy.