PortalsPro by Tvarana provides a single portal for vendors, customers and employees – all built on the NetSuite platform. It is a secure, web-based, self-service solution which users can access to submit invoices, initiate payments, resolve disputes, and engage and communicate with their teams.
PortalsPro is the complete solution for vendor management; covering onboarding, engagement, payments and conflict resolution. Customers can use PortalsPro to review previous transactions and save on time with the convenient e-payment feature. Vendor and contractor onboarding is made hassle-free while maintaining necessary compliance. Portals-pro also features AI-powered OCR that eliminates the need to manually enter vendor invoice details into NetSuite. This blog will provide an overview of PortalsPro latest feature for the vendor portal – Advanced Procurement. (To learn about this feature in detail, please sign up for our webinar ‘NetSuite Procurement With PortalsPro’, coming on October 26th and 27th)
- Using the Advanced Procurement feature, companies can raise an RFQ from within NetSuite and share it with vendors on a secure portal.
- A Request for Quote (RFQ) is a request sent to one or more vendors asking them to provide specifics about their pricing, terms and conditions in regard to a purchase order for a product they provide.
- From the vendor portal, vendors can review RFQs along with all other transactions and PortalsPro functionalities available
- PortalsPro’s vendor portal offers secure access to vendor data without the need for a NetSuite license
- RFQs can be created for multiple items with multiple tiers of quantities and can be shared with vendors.
- Once an RFQ is shared with a vendor, they will receive an email notification regarding the RFQ and can view the RFQ from the vendor portal.
- From the Vendor Portal, vendors can either provide a quote for all or any select items on the RFQ.
- Both company and vendor can collaborate on documents while requesting for or responding to a quote
- Once vendors have submitted their response, NetSuite users will get multiple options to compare the vendor’s responses for each item.
- Once vendors have been selected after comparison, there is an option to award one or multiple vendors at a time. (Only one vendor can be awarded per each item).
- After the vendors are awarded, customer quotes can be created. In addition to the original amount that vendor quoted, NetSuite users can also add Additional Markups or Markup %
- Once the customer quote is converted to a sales order, there will be an ability to create a Purchase Order automatically based on the quoted pricing of the vendor.
Interested in learning more about the PortalsPro Advanced Procurement feature? Sign up for the upcoming webinar ‘NetSuite Procurement With PortalsPro’, on October 26th and 27th)