For truly intuitive forecasting, planning and budgeting software, look no further than NetSuite. Its suite of applications has been designed by financial experts to streamline every pain point common to accounting and financial departments across all industries around the world.
NetSuite’s cloud-based system serves everyone from mid-sized to large enterprises, and has been recognised by Gartner as the leading Financial Planning & Analysis (FP&A) tool available today.
NetSuite Planning and Budgeting, commonly referred to as NSPB, is a NetSuite module that offers your business the tools to manage your existing financial systems or pull reports at month-end. Not only that, but its intelligent software means you can analyse, forecast, plan and budget using its in-built data analysis features.
With this data at your fingertips, you’ll never risk losing track of your finances again. Replace spreadsheets and manual budgeting and gain greater visibility with a unified, cloud-based financial planning tool that aligns operations across your organisation.
From a financial planning perspective, NetSuite’s Planning and Budgeting (NSPB) tool is the number one platform available on the market today.
NetSuite’s Planning & Budgeting tool incorporates both core finance features and also features that assist with projections, analysis and planning. Core finance facilities are those required to continue your operations and include all practices linked with basic accounting, such as processing, recording and auditing.
Planning and analysis targets the financial narrative of your organisation, looking at the patterns, trends and any changes in the books to support projections and forecasting.
When combined, these two facets of NSPB enable stakeholders using the platform to gain a full financial picture of the organisation and provide upper-level management with the capabilities to make strategic decisions for the company as a whole.
NetSuite’s Planning and Budgeting tool includes real-time management dashboards, which provide an overview of your organisation’s transactional and payment data.
Additional benefits include the platform’s analysis and budgeting features, which allow your organisation to set out your estimated costs and revenues over a specified period of time. Establishing a budget in this way through your financial dashboard allows you to set out projected future financial conditions and goals, as well as potential revenue sources and uses over time.
Forecasting is another essential benefit of implementing NSPB within your organisation. NetSuite’s forecasting tool effectively allows the identification of any risk while also spotting potential opportunities.
It’s also important to ensure that your organisation is fully compliant with local and national regulations and tax laws, and even international, if your business operates across multiple countries.
Logistically, this can pose a challenge to an organisation looking to scale up, move internationally or manage accounts in a number of different locations. With NSPB, automated tax and fiscal compliance is guaranteed across over 100 countries, and support for 90 currencies means your organisation can concentrate on operational optimisation and growth.
With Smart View, your finance team can work directly within Microsoft Excel, Word and PowerPoint, all while staying connected to live NetSuite data.
Easily run multiple scenario analyses (best-case, worst-case, market shifts) by tweaking underlying business drivers without breaking formulas.
Reduce time spent on manual spreadsheets and processes
Real-time data spans your whole organisation so everyone sees the same, up-to-date information
International regulations are supported and version control allows you full oversight
NSPB integrates directly with NetSuite, allowing you to pull real-time business data into your planning and financial modelling.
38%
reduction in planning processes
32%
less time spent creating reports
12%
increase in forecast accuracy
NetSuite and NSPB’s efficient, accurate and streamlined operations will take your organisation to the next level.
A cloud-based business management platform like NetSuite requires no costly upgrades or maintenance, and instead updates automatically to ensure maximum utility throughout the year. In addition, NSPB has been specifically designed to improve financial and operational performance, and is fully configurable to reflect your chosen metrics and goals.
In short, if you’re looking to improve your profits, reporting efficiency and forecasting accuracy – what are you waiting for? Implement NetSuite Planning and Budgeting today.
Implementing NSPB for your organisation couldn’t be simpler. Contact our experts today to discuss your requirements, answer any queries and to tackle any elements unique to your business. Our dedicated professional team is on hand to begin discussions at any time, providing our NetSuite ERP consultancy service to determine a customised solution for your organisation.
We’re an award-winning NetSuite Partner with decades of expertise in delivering tailored business software solutions. As a NetSuite partner for over 15 years, with over 1,200 successful projects to our name, we blend deep industry experience with technical expertise and a collaborative approach.
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If any of the key benefits explored in this blog would benefit your business, don’t hesitate to reach out to our NetSuite experts, who can help you understand if any of the solution range are perfect for your needs.
