B2B Payments

NetSuite Links Procurement To The Smartphone

B2B cloud service provider NetSuite revealed vast new updates to its offerings last Thursday (May 7), introduced by the company’s founder and CTO Evan Goldberg at the company’s SuiteWorld 2015 event.

Among the announcements were details of a new mobile app, an upcoming SuiteCommerce InStore service, and a new procure-to-pay function for businesses. As outlined in a NetSuite blog post, the company revealed the SuiteCommerce InStore tool that operates as a point-of-sale solution, which not only facilitates customer payments, but allows employees to access inventory data and customer analytics insight.

Further, a new app giving business users access to NetSuite services through Android was rolled out, a tool the company said marks the cloud business management market’s first end-to-end mobile app. NetSuite said that the app will provide business owners with remote access to eCommerce and CRM tools, as well as expense management, and record and documentation support.

Its procure-to-pay service was also revamped to include new billing and receipt capabilities. According to NetSuite, the tool is “commerce-ready” and offers a B2C procurement experience through its purchasing process and user interface. “Essentially, it allows employees to make intelligent purchases at the right time with spend management knowledge, at the right cost,” NetSuite said in its blog post. “It allows employees to buy, receive and expense goods at their convenience over a fixed period of time following one single set of negotiations with a vendor, rather than having to repeat the same process again and again.”

The company added that procurement managers will be able to customize employee spending controls and flag past business records with suppliers in an effort to shorten the negotiation process.

Collectively, NetSuite said, these solutions aim to bring a wholly digital procurement and spend management solution to businesses, rather than a mix of digital and in-percent processes – an especially critical adjustment for businesses that operate on a global scale, the firm said.

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