NetSuite Unveils New Financial Edition To Help Transition To Cloud

NetSuite, a vendor of on-demand, integrated business management software suites for mid-market companies and divisions of large enterprises, has announced NetSuite Financials, a new edition of its on-demand accounting and enterprise resource planning (ERP) software.

NetSuite Financials gives businesses access to NetSuite’s on-demand financial and accounting functionality in a modularised format that provides a high degree of flexibility and value as they seek to lower operating costs and eliminate capital expenditures by moving key business processes to the cloud. For a limited time, NetSuite Financials is available at a 30 percent discount from the list price for any company switching to NetSuite from Microsoft Great Plains or any Sage ERP product.

NetSuite Financials is especially designed for companies eager to trade their current legacy, on-premise accounting systems for NetSuite’s SaaS-based design. NetSuite Financials, built on NetSuite’s integrated on-demand platform, enables companies to accelerate the move to cloud computing by starting with the migration of their most important financial and ERP processes. These companies can then easily add customer relationship management (CRM), e-commerce or deeper ERP functionality as their operational needs change.

Key Features and Functions

NetSuite Financials supports the key back-office operations and business processes of an organisation.

Financial Management

It includes tools that allow a business to control all its financial data and processes, including: general ledger/ accounts receivable/ accounts payable, budget management, multi-currency transactions and reporting, revenue recognition, recurring revenue management, allocations and financial reporting.

Order Management

The key link between the sales organisation, financial management and order fulfillment, NetSuite Financials streamlines the order-to-cash business process, minimising paperwork for the finance and sales teams, increasing accuracy of orders and ensuring that customers get deliveries on time, boosting customer satisfaction and long-term loyalty.

Inventory and Supply Chain

A complete set of inventory management, manufacturing and procure-to-pay process management features that give a business control of supply chain activities across the organisation and beyond with partners, vendors and customers.

Billing Process Management

NetSuite Financials’ billing logic lets companies tailor customer billing processes to their specific business needs. In addition, customer self-service capabilities provide faster service and increase customer satisfaction, turning billing into a competitive asset.

Revenue Recognition

Complex revenue management capabilities, closely coupled with billing and driven directly from the order, ensure companies can handle changing revenue recognition policies.

Services Resource Planning (SRP)

Specifically designed for the global needs of enterprise-class services organisations, NetSuite Financials delivers the capabilities needed to integrate the services project lifecycle into one seamless workflow.

Human Capital Management (HCM)

NetSuite Financials give organisations employee resource management tools for streamlining payroll operations, employee compensation, as well as self-service capabilities to enable collaboration and reduce administrative overhead.

Business Intelligence and Analytics

NetSuite Financials includes SuiteAnalytics for real-time business intelligence that drives faster decision-making.