Explore if Four-level Approval for Bill is That Easy With NetSuite

Problem Statement

Working in the retail sector, which deals with numerous financial concerns and the handling of bills, can be quite challenging. Having an efficient method for bill approval is crucial in business, particularly as it involves a significant flow of money. To enhance the accuracy of this process, our client required an efficient system for approving bills and bill payments within the NetSuite system. They aimed to ensure that bills undergo confirmation at multiple approval levels, with each level accessible to the relevant individuals, and with exclusive administrator access to oversee the entire approval process.

What We Suggested

To address these challenges, we recommended a multi-level approval solution that utilizes the capabilities of NetSuite to simplify the bill approval process. Our solution included the following key components: 

•Role-Based Access Control: We configured role-based access control within NetSuite to ensure that each individual can access the approval page specific to their responsibility. The approval levels included Clerk Accountant Payable, Accountant Payable, General Manager, and Managing Director. This involved setting up role permissions and access privileges to restrict or enable bill approval functionality. 

•Customized Dashboards: We created customized dashboards for each role, allowing them to view a list of pending bills that required their approval. These dashboards would display bills in a prioritized order, ensuring that the ones in need of immediate attention were prominently featured. 

•Record Status Indicator: To enhance transparency, we added status indicators to each NetSuite bill record, displaying the current stage of approval. This real-time status tracking allows users to monitor the progress of bill approvals.

•Reject & Resubmit: Approvers also have the option to reject payments after adding the reason. It will be shown in the record and moved to the previous approver’s page. The user can update the payment record and have the option to ‘Resubmit for Approval’. 

•Bulk Approval: This allows users to approve multiple records simultaneously. Both the bills and bill payment in NetSuite records can be filtered by the desired date range to generate the pending approval list. 

Challenges

Configuring role-based access control and custom dashboards for each role seems to be a complex task until we have an effective plan. The approved list will be automatically removed from that specific manager’s dashboard and will move to the next approver’s page. The status of the NetSuite Bill record will also be alternately changed. This was efficiently managed. 

Customer Success  

By implementing our solution, the client achieved several key benefits which include:

•Faster Approvals: With role-specific access, employees found it easier to access and approve bills, reducing approval delays and processing times. The bulk approval process helps manage a large set of bills in a single click. 

•Easier Tracking: Real-time bill status indicators offered greater transparency, allowing all parties to track bill approval progress, resulting in a more accountable and informed decision-making process. 

•Minimized Errors: The introduction of customized dashboards and clear bill status indicators reduced the chances of errors and oversights in the approval process. 

Key Achievements:

•Reduced manual tasks by 60%  

•Improved financial management 

•Expedited the approval process 

Way Forward 

The successful implementation of our solution addressed the client’s problem and also set the stage for enhanced financial management and efficiency in the retail industry bill payment process. The customized bill approval process in NetSuite Workflow has made a significant impact on their daily operations and financial decision-making. Feel free to reach out to Jobin & Jismi’s expert team to discuss your specific needs. We are ready to assist you always.