At face value a requisition process seems fairly mundane and low priority. In reality it provides a terrific opportunity to streamline operations, save cash and optimize your business.
NetSuite states it simply on their site – a requisition is “When an employee or company representative, such as a consultant, needs something that must be purchased using company funds, they can use a requisition to initiate the purchasing process.”
So when Sally needs boxes to ship product, she submits a formal request for the item with all required data points so that 1) the person responsible for purchasing can make a good call on proceeding with the order 2) it can be grouped with other orders and 3) to make sure it follows whatever business rules are in place for spending.
In the SMB world and even at enterprise level we see the process handled over email and spreadsheets – this most often results in lost productivity, costly mistakes and general frustration.
A formal, yet simple process for requisitions can streamline your operations and give back lost time and money.
Here are 10 reasons a formal requisition process is worth your time.
- Reduce Waste – Access inventory from internal locations and vendors – rather than order 100 boxes from a vendor you can pull needed boxes from various locations (Warehouse, Stores, etc)
- Save Money – consolidating orders in a single repository for bulk ordering
- Maximize buying power by grouping – with requisitions flowing in from many locations, you can easily group items into single orders to vendors
- Save Time – Less time spent chasing various methods of requests
- Improve Accuracy – using a web-based form greatly reduces the chances of errors from free-form methods like email or XLS
- Plan Ahead – with requisitions flowing into a single repository, you can forecast and plan expenses
- Provide Governance – easily assign approvers at the right level for various expense types
- Gain visibility – see where you are at any given time – see across all locations
- Track important order details – who’s ordered it, what the order contained, when it was placed, how much, what’s the cost, who’s approving it
- Deliver Employee Satisfaction – people crave structure – providing a standardized process and best practices will put a smile on most everyone’s face
RSM has helped thousands of customers successfully go-live with their software implementation. For questions on implementing this specific functionality or for questions on any other topic related to NetSuite, please contact us at email@example.com or by phone at 855.437.7202.
By: Julie Miner – National NetSuite Solution Provider