How NetSuite made planning and budgeting easier

25 August, 2021


NetSuite provides to organizations complete planning, budgeting, and forecasting solutions for meeting a company’s every need. Learn more!

The achievement of business goals largely depends on effective planning, budgeting, and forecasting. It is therefore essential for an organization to assist its finance teams in preparing the company’s budget and forecasts both quickly and accurately. For this to happen, the finance department needs to be able to formulate strategies, consider various possible scenarios, and generate the required financial reports and analytics. NetSuite Planning and Budgeting offers an automated solution,  which effectively manages financial and operational data, hence facilitates planning and budgeting processes. In this way, the company’s finance staff can spend more time on strategic analysis activities than having to deal with time consuming manual processes.

For a company to grow and prosper, it has to be able to monitor the progress of tasks, including budgeting processes, reviews, and approvals. With NetSuite’s budget templates, prebuilt workflows, and real-time forecasts, the right decisions on costs and operations can be taken, since forecast accuracy is ensured with the use of real data. Overall, with the data from NetSuite, companies acquire the right tools to take an informed decision, securing the company’s overall progress and success.

The most challenging situations that organizations often have to face come from errors caused by manual processes, misunderstandings that result from lack of collaboration among users, and the inability to make the right decisions. This is why every company can benefit from NetSuite solutions: when it comes to transfers, the prebuilt integration with NetSuite financial data does not leave room for error. Furthermore, with the option of entering commands and assumptions for budgeting and forecasting purposes, collaboration among users becomes much more effective. Finally, through the use of actual data, one gains accurate insight on accounting segments, hence, decision-making becomes fast and easy.

One of the most important features of NetSuite ERP is that it provides constant access to automated and updated data with regard to financial and operational processes, making it much easier for the finance team to control their tasks. The fact that stakeholders have the ability to be connected in a single environment, certainly saves a lot of valuable time that was spent on emails and unnecessary spreadsheets. As a result, there is a much more effective collaborative spirit within the organization. Additionally, with NetSuite’s technology, operational managers can streamline data collection, eliminating time consuming processes for delivering information and answers to the clients. Such solutions also increase visibility and transparency, as any changes are automatically updated in the system. Reports and dashboards, therefore, always include the most recent and reliable data.

NetSuite has been providing intelligent and technologically advanced solutions for more than two decades now, helping customers with their leading practices, with tens of thousands of worldwide deployments so far. At the same time, customers receive constant support, from sales to services to after-sale services.

NetSuite provides to organizations complete planning, budgeting, and forecasting solutions for meeting a company’s every need and help any business to adapt in the rapidly changing world of technology. Irrespective of the size and type of your company, with NetSuite, you will run your business effectively and efficiently.

For ensuring that your company is adequately equipped to face every challenge, visit NetU’s website and contact our experts for more information on our products and services.