NetSuite Advanced Financials helps your team manage multiple budgets, monitor budget vs. actuals in real time, allocate expenses by account, class, department or location and makes it simple to assign expenses based on your requirements.
NetSuite OneWorld helps multinational companies streamline multi-subsidiary operations and provides real-time visibility at the local, regional and headquarter levels. With NetSuite OneWorld, companies can develop standard business processes and deploy them across their divisions and subsidiaries at the click of a button, ensuring compliance of standard processes worldwide.
NetSuite Revenue Management simplifies the complexities of evolving revenue recognition mandates, no matter if a sale encompasses a single performance obligation, a series of obligations spanning a time period, or diverse obligations in a bundle. The results enable the automation of revenue policy for compliance, real-time revenue intelligence and actionable data.
NetSuite Planning and Budgeting helps you align your organization through the planning cycle providing a single version of the truth, and improved real-time visibility. Planning and Budgeting facilitates both company-wide and departmental planning with modeling capabilities, approval workflows and reporting within one collaborative scalable solution.
NetSuite Multibook allows accounting departments to comply with multiple sets of financial books in parallel, and issue your financial statements in accordance with whichever accounting standards are required. Users can record transactions using unique book-specific functional currencies. Based on exchange rates stored in the system, NetSuite Multi-Book can automatically calculate the general ledger impact for all books, including the realized and unrealized foreign currency gain/loss amounts per transaction.
NetSuite Fixed Asset Management provides a basic Fixed Asset Management bundle in NetSuite to simplify depreciation of your corporate assets. For a more comprehensive solution, NetSuite Fixed Asset Management provides asset creation workflow along with managing complex asset disposal and transfer scenarios.
NetSuite makes it easy to track and manage budgets. Departments can further automate billing processes and eliminate the manual work typically associated with billing customers. It enables the creation of highly customized billing schedules and templates, and automates the creation of invoices based on different types of orders. It even provides milestone billing schedules that ensure work is billed as it is completed according to a service contract.
Accounting and finance functions are constantly changing—from new regulations to tax reform to advancements in technology. With these changes, CFOs are taking on broader responsibilities beyond traditional number crunching.
Despite all of these changes, top CFOs remain focused on laying a solid foundation of financial processes and systems. Better reporting, increased data visibility and implementing new financial software are among the top priorities for CFOs in the next two years according to a recent Brainyard CFO study.
While NetSuite provides a best-in-class financial management system it also enables an organization to manage and gain insights from all facets of your organization within one platform.
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