NetSuite for Financial Services: Experience A New Dimension Of Business Intelligence
The financial world is complex, and day by day, the complexities are only increasing. Handling taxes and duties are of least concern, when the Internet has made the entire world a big financial market, which is never sleeping, and always on, 24*7.
The complexities of forex, share market, equities, and multiply it with reports, audits, global norms for financial services and the whole process becomes an impossible maze.
Understanding the ever-changing complexities of financial services, NetSuite has developed a state of the art module, which can handle the requirements, and provide the solution you need for your business.
We call it the new Business Intelligence, which NetSuite has developed, for financial services companies. And you need to experience it, to believe it.
Real-Time Financial Management In The Cloud
Using Cloud Computing’s unique capabilities, NetSuite has created one of the most powerful financial modules, which serves as ERP as well as CRM for the financial services companies.
The module is already accounting-intelligent, which means that the management need not spend time and resources to teach basic financial operations such as calculating book value and depreciation of the company’s fixed assets.
NetSuite can calculate these automatically, based on the rules fed, and data provided.
You can expect complete transparency in the whole process, and gain complete audit-trail, if and when required.
Pre-configure crucial business processes (tracking stock values, for instance), and get instant insights into the financial performance of any client or business, via customized dashboards.
Not only that, NetSuite’s Financial Services module can also assist the organizations in procurement, by analyzing how much spending is required, based on negotiated terms, tiered pricing, and pre-specified delivery schedules. The module supports every form of digital payment, which includes credit/debit card and netbanking/wallets as well.
Let’s talk about high-level of Business Intelligence here.
Report True Revenues & Real-Time Results
NetSuite’s Financial Services module has in-built business intelligence, which recognizes every standard accounting practice, and delivers the reports accordingly.
This means you can report the revenues and profits with confidence, and accuracy which is hard to find in other ERPs in the market.
Automation is the keyword here, as every major financial process and system can be conveniently automated, thereby removing any manual process and saving time.
Some of the automation which can be induced are: Revenue reporting, generating and dispatching invoices, reminders to the clients about payments, vendor communication, based on actual demand, generating real-time reports and more.
The data and reports churned out support every form of regulatory compliance and taxation rules, based on the country and the region.
The module has been programmed to proactively balance risk and opportunities across a wide spectrum of businesses and operations, thereby supporting and aiding the management at every step.
If you are into financial services and wish to optimize your business using NetSuite’s module for finances, then we at Inspirria Cloudtech can provide you with consultancy, mentorship and professional support.
To know more about us, and our world-class Cloud Computing services, please visit us here.
