NetSuite Planning and Budgeting

Is Your organization still using?

While spreadsheets are easy to use, they are not built to gather data from across the organization, roll up department plans, or do complex, collaborative planning and multi-dimensional modeling. The challenges of spreadsheet-based processes include:

  • Stale, fragmented, error-prone data.

    Do you spend hours exporting operational data from your general ledger, payroll, purchasing, and other systems and manually adding it to spreadsheets? This process is not only extremely time consuming, but it leaves room for data entry errors. Even after spending the time gathering this data, spreadsheets only provide a historical snapshot of the numbers at one single point in time. You’re always scrambling to calculate “the latest number” for anyone who needs it for planning and budgeting. 

  • Consolidation.

    Does your team spend hours collecting spreadsheets from all departments and consolidating them into a single master plan? This time-consuming process makes it difficult, if not impossible, to quickly respond to changing business conditions.

  • Collaboration.

    Passing spreadsheets back and forth makes it easy to accidentally delete rows and cells, or break formulas. Not to mention the challenge of keeping track of the latest version. This process of collaboration is completely offline and leads to inefficiencies, errors, and limited visibility into changes being made. 

  • Modeling and what-if analysis.

    With limited flexibility to allow for multiple dimensions of data, what-if analysis is almost impossible to do well in spreadsheets. Finance and business users can’t perform true multi-dimensional planning, incorporating dimensions such as product, location, customer, expense, currency, and time all at once.

The bottom line: Your organization spends huge amounts of time, energy, and resources fighting with this tool that isn't capable doing what you need it to do.  

What Is NetSuite Planning and Budgeting?

Planning and Budgeting in the Cloud

In order to gain visibility and agility, businesses need a suite of planning and budgeting tools based on centralized plans with a seamless connection to incorporate financial data. NetSuite makes planning, budgeting and forecasting much easier and faster, resulting in:

  • Greater control.

    While using a cloud-based planning and budgeting solution, all data is centralized. Integration with an ERP solution ensures automated ongoing access to up-to-date financial data. With reduced reliance on manual data input and reconciliations, control is improved. Robust workflows that leverage best practices are built into the solution and processes are automated, reducing the need for human oversight and intervention. 

  • Increased collaboration.

    NetSuite’s planning and budgeting solution makes data accessible in real-time to anyone who needs to see that information. All stakeholders are connected in a single environment, streamlining data collection. Accessibility boosts participation and accountability, making it easier to get meaningful input and engagement from operational managers. 

  • Improved visibility.

    Any changes made to numbers in NetSuite’s planning and budgeting system are automatically reflected in reports and dashboards, so the current business situation is always clear. Modeling based on multiple what-if scenarios can be easily performed on any dimensions of data. The visiblity gives organizations more confidence in current performance and budget projections, greatly improves planning capabilities, and drives accountability on key performance targets across the company.

NetSuite SuiteSuccess Planning & Budgeting: Starter Edition

NetSuite SuiteSuccess Planning & Budgeting: Premium Overview

Key Functions of NetSuite Planning & Budgeting Solution:

  • Flexible "what-if" modeling capabilities

  • A powerful calculation engine that can accommodate a wide range of business logic with fast in-memory aggregation and instant analysis

  • Built-in commentary and annotation capabilities

  • Flexible workflow and plan management capabilities

  • Robust reporting and ad-hoc analysis with formatting and charting support

  • Synchronization with an ERP system

  • Seamless integration with productivity tools for ad-hoc analysis and reporting

If you're looking to save your business time, reduce cost, and ensure a more accurate financial reporting-it's time to switch to the cloud. Cloud Genius Advisors is passionate about providing your business with the #1 ERP software on the market. Our team provides ongoing support for existing clients-from coaching to consulting to customizing solutions. We are with you every step of the way to simplify your software, so you can focus on your business. Contact us for a free price quote today!
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