<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=229461991482875&amp;ev=PageView&amp;noscript=1">

If your business is using NetSuite and a separate vendor management solution, the challenges it experiences are likely to mirror those of businesses with a lower level of maturity. Vendor relationships and contracts are naturally collaborative and businesses often compensate for this by giving each department technology best suited to their needs. However, tech-stacks can quickly sprawl without each platform working in sync with the other.

If your business is linking its key finance and vendor software using an API build rather than a native integration, stakeholders may be:

  • Inputting data twice into different systems
  • Struggling to collaborate effectively if teams are working in different systems
  • Facing difficulty tracking vendor spend, which can cause revenue leaks
  • Losing control of contract approval processes, contributing to maverick spend
  • Increasing contract and vendor risk due to a lack of  visibility

In this article, we take a look at why you should integrate NetSuite with a vendor portal, within a dedicated platform. 

Three key reasons to integrate NetSuite with a Vendor Portal

By not syncing your vendor contracts with your ERP, the opportunity to grow whilst minimising the associated risk becomes more challenging. When manually managing vendor contracts between two systems, efficiency and accuracy are often disrupted - directly impacting your ability to manage vendors effectively.

Integrating your NetSuite instance with Gatekeeper's Vendor Portal, via the Built For NetSuite SuiteApp, improves:

  1. Contract and vendor visibility by allowing a two-way data sync. All information  can be seen within both the Vendor Portal and within NetSuite via a secure, centralised repository. Knowing who your vendors are, what their status is and what events are due minimises overall risk throughout your portfolio.

  2. Overall control as internal processes can be automated with the Kanban Workflow Engine. Whether it's contract approval processes and managing vendor spend or automated contract record creation in NetSuite, Gatekeeper’s native integration allows you to leverage a full app ecosystem.
  3. Your ability to safeguard compliance as data sync between Gatekeeper and NetSuite means you will always be working with complete and accurate records. Delegate vendor data entry into Gatekeeper and sync all information seamlessly with the NetSuite SuiteApp. Always know if your vendors are up-to-date with their documentation and proactively work with them ahead of expiry dates.

The benefits of integrating NetSuite with Vendor Management Software

Gatekeeper provides complete visibility and control to teams across the entire organisation. Whether you’re in Legal, Procurement or Vendor Management, you can access and leverage the insights you need from within NetSuite - all while using the power of a Vendor Portal within the Gatekeeper platform. Below, we provide an overview of how the native integration works and how it benefits your business.

1. Use Full Vendor Data Sync & Vendor Portal support  

By using NetSuite and a vendor portal, you can self-service vendor onboarding and vetting with data sync, including, for example, W-8 & W-9 tax form collection. Delegate vendor data entry, send alerts to third-parties when certificates need updating and automate performance reviews. Automate entire vendor processes with a dedicated portal and see all the up-to-date information you need within NetSuite.

2. Visualise spend data with dashboards

Finance teams can stay in control of vendor spend by knowing exactly what is being spent, where and with who. With the native Netsuite Integration, you can sync Vendor Bills to analyse Vendor and Contract level forecast vs Spend. The Spend Module from Gatekeeper allows you to drill down into the data and identify opportunities for consolidation and reward.

3. Access Advanced NetSuite Field-Mapping Support

The ability to manage data and ensure its accuracy is fundamental to control and compliance. Full control over configuration is provided within Gatekeeper including all core and custom field mapping. This allows teams already familiar with NetSuite to keep working in their preferred way - whilst knowing they can trust the data across the entire ecosystem. No worries about duplicated or outdated information. 

4. Automate processes in the Workflow Engine for NetSuite

Not only can your business automate and visualise everything from vendor invitation, onboarding and performance review with the Kanban Workflow Engine, they can also see a complete history of any and all actions taken. Gatekeeper’s integration with NetSuite allows the seamless transfer of data including advanced field mapping, while building a defensible and auditable record of how a vendor contract has been managed throughout the process.

5. Have unlimited eSign licences for all NetSuite users

With unlimited users on all plans, Gatekeeper’s Built For NetSuite SuiteApp allows teams to execute vendor contracts more quickly with unlimited eSign licences. Each stage of the process is captured, all signatures are legally-binding and all signed agreements are stored in the Gatekeeper’s contract repository.

Wrap Up

Using a vendor management software that has a native integration with NetSuite gives businesses far more advantages than if they were to use a bespoke API build or keep the two systems entirely separate. By using a vendor portal alongside NetSuite, data sync becomes seamless, visibility becomes prioritised and businesses are given the ability to take control of their portfolio and safeguard compliance.

A native NetSuite integration creates a more seamless user experience, a more efficient approach to vendor management and prevents issues such as data fragmentation that can have serious consequences for regulatory compliance."


Gatekeeper customers such as Mailchimp use the Netsuite integration to improve the visibility of their compliance, regulatory risk and revenue risk - as well as to find opportunities to grow the business. If you’re ready to add this level of insight to your business, speak to us today.

Shannon Smith
Shannon Smith

Shannon Smith bridges the gap between expert knowledge and practical VCLM application. Through her extensive writing, and years within the industry, she has become a trusted resource for Procurement and Legal professionals seeking to navigate the ever-changing landscape of vendor management, contract management and third-party risk management.

Tags

Contract Management , Control , Compliance , Vendor Management , Contract Lifecycle Management , Contract Management Software , Visibility , Contract Lifecycle , Case Study , Supplier Management , Vendor Management Software , Contract Risk Management , Vendor and Contract Lifecycle Management , Contract Management Strategy , Contract Repository , Risk Mitigation , Regulation , Contract Automation , Workflows , CLM , Contract Ownership , Contract Visibility , Contracts , Regulatory compliance , Supplier Performance , Supplier Risk , TPRM , Third Party Risk Management , VCLM , Contract and vendor management , Legal , Legal Ops , Podcast , Procurement , Risk , Vendor Onboarding , contract renewals , Future of Procurement , Gatekeeper Guides , Procurement Reimagined , Procurement Strategy , RFP , Supplier Relationships , Business continuity , CLM solutions , COVID-19 , Contract Managers , Contract Performance , Contract Redlining , Contract Review , Contract Risk , Contract compliance , ESG , Metadata , Negotiation , SaaS , Supplier Management Software , Vendor Portal , Vendor risk , webinar , Artificial Intelligence , Clause Library , Contract Administration , Contract Approvals , Contract Management Plans , ESG Compliance , Kanban , RBAC , Recession Planning , SOC Reports , Security , Sustainable Procurement , collaboration , AI , Audit preparedness , Audit readiness , Audits , Business Case , Clause Template , Contract Breach , Contract Governance , Contract Management Audit , Contract Management Automation , Contract Monitoring , Contract Obligations , Contract Outcomes , Contract Tracking , Contract Value , Dashboards , Data Fragmentation , Due Diligence , ECCTA , Employee Portal , Excel , FCA , ISO Certification , KPIs , Legal automation , LegalTech , Market IQ , NetSuite , Obligations Management , Procurement Planning , Redline , Scaling Business , Spend Analysis , Standard Contractual Clauses , Suppler Management Software , Touchless Contracts , Vendor Relationship Management , Vendor risk management , central repository , success hours , time-to-contract , APRA CPS 230 , APRA CPS 234 , Australia , BCP , Bill S-211 , Breach of Contract , Brexit , Business Growth , CCPA , CMS , CPRA 2020 , CSR , Categorisation , Centralisation , Certifications , Cloud , Conferences , Confidentiality , Contract Ambiguity , Contract Analysis , Contract Approval , Contract Attributes , Contract Challenges , Contract Change Management , Contract Community , Contract Disengagement , Contract Disputes , Contract Drafting , Contract Economics , Contract Execution , Contract Management Features , Contract Management Optimisation , Contract Management pain points , Contract Negotiation , Contract Obscurity , Contract Reminder Software , Contract Reporting , Contract Routing , Contract Stratification , Contract Templates , Contract Termination , Contract Volatility , Contract relevance , Contract relevance review , Contracting Standards , Contracting Standards Review , Cyber health , DORA , DPW , Data Privacy , Data Sovereignty , Definitions , Digital Transformation , Disputes , EU , Electronic Signatures , Enterprise , Enterprise Contract Management , Financial Services , Financial Stability , Force Majeure , GDPR , Gatekeeper , Healthcare , ISO , IT , Implementation , Integrations , Intergrations , Key Contracts , Measurement , Mergers and Acquisitions , Microsoft Word , Modern Slavery , NDA , Operations , Parallel Approvals , Partnerships , Pharma , Planning , Port Agency , Pricing , RAG Status , Redlining , Redlining solutions , Requirements , SaaStock , Shipping , Spend optimzation , Startups , SuiteApp , SuiteWorld , Supplier Cataloguing , Technology , Usability , Vendor Governance , Vendor compliance , Voice of the CEO , automation , concentration risk , contract management processes , contract reminders , document automation , eSign , esignature , post-signature , remote working , vendor centric , vendor lifecycle management

Related Content

 

subscribe to our newsletter

 

Sign up today to receive the latest GateKeeper content in your inbox.

Subscribe to Email Updates