Why Businesses Need Planning? Find Out If Netsuite Is Allowing Businesses To Plan Well

Creating a plan and maintaining it with conceptual skills holds substantial accountability for the growth of any business. Particularly, when there are critical circumstances like the COVID-19 pandemic, it’s important that businesses are well-planned and organized to encounter less tragic scenarios.

Things changed quite dramatically all over the world, which made the businesses think of adopting scenario planning to cope up with similar situations more efficiently in the future.  

NetSuite Planning

NetSuite, along with offering robust applications to automate the key operational process, it delivers robust planning and budgeting capabilities to meet organizational planning requirements.

Its key features include:

• Balance Sheet and Cash Flow
• Variance Analysis & Reporting
• Revenue Planning
• OpEx (Operational Expenditure) Planning
• Built-in Financial Intelligence

NetSuite Planning and Budgeting

This extensive feature of NetSuite ERP solution helps businesses automate labor-intensive planning and budgeting processes. With such capabilities, your finance team can efficiently produce budgets, analyze what-if scenarios, and create reports. Here, if you connect with any of the certified NetSuite ERP Partners, you can better comprehend this all-in-one, comprehensive and collaborative solution.

NetSuite Planning and Budgeting tool helps eliminate manual consolidation, troubleshooting, reporting and data loading. It enables your finance personnel to reallocate time from data entry and formula maintenance to strategic analysis activities. This helps them drive your organization‘s financial position under the top chart.

Premium Edition

Businesses can connect with an acclaimed NetSuite Implementation Partner to comprehend premium planning and budgeting capabilities and drive greater scalability.

Along with the basic features, an astute Oracle NetSuite Partner can help businesses avail of the premium features:

• Workforce Planning
• Driver and Trended Forecasting
• Indirect Cash Flow
• Smart View Office Integration
• Industry-specific Capabilities

1. Vertical Metrics
2. Project Planning
3. Cash Projections

What are the benefits of NetSuite Planning?

• It helps drop down Planning Cycle Times. Connecting with a renowned NetSuite Partner can help you make the most of the templates and workflows to gather inputs and assumptions.
• This extensive planning solution is embedded with pre-built synchronization with NetSuite ERP. It readily ensures real-time, accurate financial data to be used for business purposes.
• Experienced NetSuite Solution Provider Partners can help you align the organization and connect all your stakeholders in a single environment.
• Businesses harnessing the capabilities of NetSuite Planning can come across increased transparency, consistent data entry, and more visibility across the entire organization.
• One can improved forecast accuracy and analyze actual versus projected results without much hassle.

Business administrators must monitor such a dynamic situation and think progressively in determining an organization’s long as well as short-term goals. Additionally, consulting with Oracle NetSuite Implementation Partners can go like cherry topped on the iced-cake as they help pick the best-suited capabilities at a standard NetSuite Implementation Cost.

With the deployment of robust functionality in NetSuite Planning and Budgeting combined with multi-subsidiary management capabilities, you can

• Access data in multi-dimensional resources
• Navigate plan versions
• Analyze volatile financial changes
• Use analytics to minimize uncertainties

NetSuite planning help businesses can confidence in the subsidiary and consolidated results in General Ledger. Also, one can deploy the functionality to create scenarios affected by multiple variables across subsidiaries in different countries, each with their payroll and revenue recognition requirements.

Delivering one collaborative, comprehensive, and scalable solution, NetSuite facilitates approval workflows, organizational planning (both at the company and department level), and modeling capabilities. With such inventive features, NetSuite software solutions help businesses focus on scenario planning and plan strategically to address mission-critical issues across finance, sales, operation, and promotion.

Versions

Businesses can pick NetSuite’s SuiteSuccess Planning capabilities, which can be deployed through two distinctive versions. It helps ensure that the functionality fits in the business and can fulfill specific requirements efficiently.

On a conclusive note, leveraging robust capabilities via acclaimed service provider partners can help you gain a competitive advantage, drive substantial business growth, retain greater productivity in the long run.