NetSuite To Offer On-Demand Financial Planning Module

NetSuite, a vendor of on-demand, integrated business software suites for mid-market businesses and divisions of large companies, has announced plans to offer a new Financial Planning module to complement NetSuite’s on-demand accounting/ Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Ecommerce capabilities. NetSuite with the new module will give companies of all sizes, timely access to planning and ‘what if’ modeling capabilities typically only available to large corporations.

The Financial Planning module for NetSuite will provide real-time drill-down from top level results enabling users to review plan v/s actual variance, isolate the organisation responsible for the variance, and drill down into the actual transactional details contributing to the variance. These product features can help companies streamline business processes, improve financial agility, strengthen collaboration and the ability to drive better-informed, strategic decision-making.

“Companies, who make rapid, well-informed decisions, and execute with discipline, win in the market place,” said Jim McGeever, CFO of NetSuite. “By delivering business management, planning and modeling software via an on-demand model, we are providing mid-sized companies and divisions of large corporations with a set of capabilities previously reserved for elite enterprises. In so doing, we’re not only helping to make our customers more productive, but we’re also enabling them to more effectively compete with their larger rivals.”

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Availability

The Financial Planning module for NetSuite will be available for both current and new customers of NetSuite beginning in Q3 2009.