NetSuite invoice management capabilities help companies maintain positive vendor relationships by automating the receipt of ordered items, processing invoices, and remitting payments in a timely manner. After a purchase order, receipt and bill have been entered into the system, NetSuite performs a three-way match to correlate data on these documents. Once approved, the accounts payable department determines which bills to pay, and in which timeframe, to optimize cash flow.
NetSuite Invoice Management Benefits
Simplified Receiving. Effortlessly receive items from vendors, partners, customers, subsidiaries, and other locations using a mobile scanning device.
Accurate Data Capture. Using a mobile device ensures all relevant information is captured and that inventory records are factual and complete.
Identification of Variances. Three-way matching highlights discrepancies between the PO and receiving and billing records.
Optimal Inventory Levels. Understand what materials and assemblies are required for production — and ensure items are in the right place at the right time.