Let SourceDay Help You Go Paperless with Procure-to-Pay Automation

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You’re a NetSuite user. By definition that means you’re cool and hip.

You know what isn’t cool and hip, though? Paper. Paper is ancient history–or at least it should be when it comes to running your business.

But I bet right now you’re not paperless. You may not even be close. And all that paper you’re still using in your business processes–it’s the exact opposite of cool and hip, and storing paper costs you money too! The great news is that it’s pretty easy to go paperless by automating your business processes, right from up-front procurement all the way through accounts payable.

NetSuite gets you most of the way there. Its basic tools and digital processes help get you pretty far down the road toward that glorious future of no file cabinets and no paper littering every surface of your office. But they don’t quite get you the automation and fully digital management tools you’ll need for every part of your business.

That’s where SourceDay can help. We give you the user-friendly, one-stop Built for NetSuite SuiteApp that will allow you to get completely away from paper from PO creation to processing a 3-way match for Accounts Payable. 

Here are the specifics:

RFQ Automation

When you go out for quotes for the materials and services you need, speed and visibility are critical. SourceDay’s RFQ Collaboration solution lets you send RFQs to existing and new suppliers at once, so everybody’s working on the same timeline. Our dashboard gives you complete transparency into the process all the way through, so you know who’s responded and see side-by-side comparisons across your required sourcing criteria, so selecting the best option is a breeze. You can even cherry-pick SKUs and have the ability to choose more than one supplier and split the bid. And it’s all completely paper-free.

PO Collaboration

When you place your purchase orders, you have the power of NetSuite’s digitized PO processes working for you–but only internally. However, with your suppliers, you’re dealing with emails and, yes, most likely more of the dreaded paper. Since SourceDay integrates bilaterally with NetSuite, our PO Collaboration tools let you extend the power of NetSuite to your suppliers. You’re able to fully digitize the PO management lifecycle on both ends, so there are no more printed POs with notes scribbled in the margins, or sticky notes all over your desk! You’re able to manage all open POs on a single dashboard, and monitor status, get supplier updates, and manage changes.

And that last one’s big. Since research shows that over half of POs will be changed, that’s a key area where you want tools that let you avoid paper. SourceDay’s electronic management of change orders means that every change request and approval and all the communication those actions require are done completely within the system and in an automated fashion.

AP Automation

Matching and vouchering invoices, especially the ones with a whole bunch of line items, is a royal pain, right?

Well, it was the old way. Accounts payable is usually one of the biggest drivers keeping you away from going paperless. The instant you send an invoice to the printer so you can underline and highlight and scratch out on that paper copy, that’s when it gets painful. SourceDay has a better way with our AP Automation tools, and it can help take all that pain away.

First, we make sure that PO and receipt data are always accurate and up to date in NetSuite. That greatly reduces mismatched invoices right at the start. The purchase order, invoice, and receipt are matched electronically, automating a big chunk of the AP process.

Next, we bring visibility across functions, from Purchasing to Receiving to Finance, so any remaining mismatches are easily identified and resolved.

Having most of the hard work of matching and creating bills in NetSuite automated, with the few remaining mismatches readily corrected, does away with all that paper. What’s more, it eliminates delays and ensures you pay on time, every time, and you pay the right amount. You can even earn early payment incentives easily. And you’ll close the books in record time!

Take a look at all those file cabinets that are housing your paper invoices right now. You get rid of those by successfully matching and creating a Bill in NetSuite and allowing SourceDay to store all invoices with references to their associated matched POs and receipts for as long as you need for auditing purposes. And with digitized, streamlined processes, now you’ll manage by exception, not by volume–and put your team members’ skills to better use.

Move Towards the Future!

To close, we all know what a powerful tool your NetSuite ERP is. We can help it help you and your supplier network even more, moving your business toward the future by eliminating sticky notes and paper copies, and by freeing up all that space you’re using for file cabinets right now.

You can save time, save money, and help to save the planet by going paperless with your business. We can help get you there–just use SourceDay to help you get the most out of NetSuite.

The post Let SourceDay Help You Go Paperless with Procure-to-Pay Automation appeared first on ERP Cloud Blog.

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