How can NetSuite’s SuiteApprovals benefit your business?
Over the last few NetSuite releases, you’ve likely seen enhancements to the SuiteApprovals SuiteApp popping up time and time again, and for good reason!
SuiteApprovals has become popular with our clients throughout 2022, using the native NetSuite app to replace the previously more common workflow process to manage record/transaction approvals.
We thought it best to let you know how SuiteApprovals could benefit you, or if you already have SuiteApprovals, hopefully, the below information can give you more insight into the features available…
What is SuiteApprovals?
SuiteApprovals provides users with standard capabilities to manage the approval of specific record types, doing away with the need for overly customised approval workflows and scripts. This means that you can easily manage the approval workflow within your account, from an approval record, without needing further technical support to amend workflows or scripts. This allows for a more efficient process when personal or approval routing changes!
The following record types are included;
Journal Entry
Engineering Change Order
Expense Report
Purchase Order
Requisition
Sales Order
Vendor Bill
Email Approval Log
How does it work?
With SuiteApprovals, you can create approval rules, each consisting of a set of criteria and approval hierarchy, to implement the validation and approval routing of these records.
SuiteApprovals enables you to set up employee and amount limits to determine if a transaction record requires approval. You can choose to route records through hierarchical approval or a custom approval flow, and can map the approval rule to meet your requirements. For example, the first level of approval could require approval from one department head controlling budget spend, whereas level two approval could require approval from all key finance personnel, controlling spend and avoiding cashflow issues.
The app provides the flexibility for you to ensure that only authorized individuals can edit, approve, reject, and resubmit records for approval. Approvals can be managed through an Employee Centre role, saving you from paying for full access licenses for users who may only interact with the system to manage approvals.
You can decide if an approval rule locks records that are in the Approved or Pending Approval status. If locked, a record may only be edited and resubmitted for approval if its status is Rejected. SuiteApprovals will even let you define tolerance limits for requiring reapproval, saving you the hassle of reapproving minimal changes.
Additional Features
SuiteApprovals also supports the delegation of approval, meaning you can set the future date when an approver shall be out of the office and assign who should be the approver during this time. This ensures your organisation avoids any frustrating bottlenecks when key stakeholders are taking some well-earned rest.
One of the most exciting features SuiteApprovals brings is the support of email approvals, allowing you to approve or reject transactions (with rejection notes!) from your emails. This is perfect for busy finance teams and department heads, avoiding any bottlenecks in transaction approvals, all from their inbox.
“Draft transactions” is a recently added functionality that now means that before submitting for approval, users can save transactions as a draft and return to edit the record further or submit for approval at another time, something we know our clients have enquired about time and time again!
Get in Touch
If you would like to get in touch to discuss Suite Approvals, or a specific feature included within the app, please reach out to your Account Manager and we would be happy to help!