Three reasons why Routable and NetSuite are the perfect pair
Oracle NetSuite is a cloud-based enterprise resource planning system, ideal for mid-market, enterprise or rapidly scaling businesses. Designed to manage the accounting team’s daily operations, it also has modules designed for business intelligence, business management and financial reporting. NetSuite users benefit from streamlined workflows, automated processes and visibility into real-time business insights.NetSuite users can also leverage invoicing and approval workflows to get a handle on payables, but managing the entire payment lifecycle within NetSuite is challenging and requires a fair amount of time and resources. By integrating an AP automation platform with NetSuite, companies can take advantage of everything NetSuite has to offer and more efficiently manage their payout volume while providing a first-class payment experience to their vendors and business partners. At Routable, we’ve designed our AP platform with NetSuite customers in mind. You’ll benefit from integrating NetSuite to Routable if you’re experiencing challenges or looking for a better way to manage:
Vendor onboarding and management
Bank account information collection and validation
Tax information collection and management
Automated invoice processing and data entry
Faster payment delivery options
Domestic and cross-border vendor payouts
Payment communication with vendors and contractors
Audit trail of all transactions and payment details in a single location
Reduction of manual tasks for payment reconciliation
For NetSuite customers who are looking to up-level their AP processes and drive efficiencies throughout their organization, here are three reasons companies are adopting Routable.
1. A better payments experience for both your finance team and vendors
Routable was built for organizations of any size to scale their payouts with the flexibility required to manage them however they choose. For finance teams that run on NetSuite, Routable lets you maintain your existing approval workflows with the option to configure multi-level approval flows based on dollar amounts to ensure key stakeholder visibility. We also provide options so you can manage user permissions just the way you want. For your vendors, Routable’s best-in-class vendor onboarding allows you to customize your onboarding workflow to automate banking and tax information collection, without requiring vendors and contractors to create an account. With our white-labeled experience, you can custom brand the onboarding flow as well as all vendor communications to ensure your brand is at the forefront of your vendor’s payment experience. Best of all, Routable keeps all parties informed on payment notifications with a complete audit trail so you can eliminate disputes and reduce back-and-forth communication with vendors regarding payment status.
2. A true two-way sync
With our bi-directional integration with NetSuite, data moves effortlessly between NetSuite and Routable in real time, meaning both systems are always up to date. Routable mirrors your configurations in NetSuite to create a seamless experience between both systems. Bring in your custom segments and advanced fields (including class fields) to Routable with the industry’s most sophisticated NetSuite integration.
Once you’ve completed a payment in Routable, we’ll mark bills as paid in NetSuite and sync all of the relevant payment information, including payment reference numbers like check number or ACH ID. With both systems always in harmony, Routable significantly reduces manual tasks for your finance teams while speeding up your month-end close process with streamlined reconciliation.
3. Purpose built for both traditional AP and mass payouts
No matter your current AP processes, scaling payouts has never been easier. Whether your company makes regular payments to the same vendors or you send higher volumes of payouts to thousands of vendors, Routable has the tools to support your AP workflows.
OCR invoice automation
From invoice receipt to settlement, we’ve got you covered. Leverage Routable’s OCR capabilities to automate invoice processing and automatically create new payables with pre-filled bill details from invoices uploaded or emailed to your Routable inbox. Increase accuracy and save up to three minutes per invoice by reducing time spent manually coding bills with OCR for invoice data extraction.
For companies that frequently pay vendors by check, Routable automates the entire process for you. Stop wasting valuable time and resources cutting and mailing checks — we’ll do the heavy lifting. Routable offers check payments across eight different delivery speeds with the most competitive rates available. You can also give your vendors the option of receiving payments electronically with Routable’s four different ACH speeds as well as real-time payments.
Pay international vendors
Need to pay vendors internationally? Routable lets you pay vendors in their currency of choice with cross-border payments to over 220 countries and territories. Make all of your domestic and cross-border payments in one system with complete fee transparency for you and your vendors. You’ll have the flexibility to record payments in USD or in any of our supported currencies based on your NetSuite preferences.
Scale payouts with less work
For NetSuite customers experiencing a surge in AP volume, Routable’s mass payouts solution can help you scale your payouts for tomorrow. With our CSV upload for NetSuite, you can easily create thousands of payments using our lightning-fast CSV upload with validation to prevent errors for missing fields or incorrect amounts. For NetSuite customers looking for an API-first approach to managing payouts, Routable’s REST API provides a modern and easy-to-use API to create the payment experience of your choice. Easily integrate Routable and Routable’s NetSuite syncing capabilities into your application to get up and running with a powerful payments infrastructure for mass payouts within minutes.
Get started with Routable’s NetSuite integration
Routable is the easiest way for teams that run on NetSuite to scale accounts payable through automation with seamless collaboration across any department. Want to get started with Routable for NetSuite? Request a demo below or visit our pricing page for more information.