How Oracle NetSuite ERP Can Help You To Achieve Better Financial Management

Want to find out if a business is directionless or cruising along with determination and vision?

Check that with company’s financials, and you will have a crystal clear idea.

Finances are the backbone, the soul of any business because without having full control and visibility over finances, no business can survive or grow.

Oracle NetSuite understands the importance and relevance of financial management, and this is the reason they have developed a powerful, resourceful, and feature-rich financial management module, that helps organizations to seamlessly manage their finances, and have full control over their financial transactions.

Right from automating budgets to precisely forecasting and reporting, analysis, and more: Oracle NetSuite offers a complete suite of financial-centric solutions that is required for every business.

Here are the highlights of the Oracle NetSuite Financial Planning module, which empowers the business to achieve better and optimized financial management:

End To End Budgeting & Forecasting At One Location

By deploying Oracle NetSuite for financial management, businesses can save upto 90% time in budgeting and forecasting cycle time. No longer are long and complex spreadsheets needed for creating budgets, or manual data consolidation required for precise forecasting, since Oracle NetSuite can not only automate these tasks but also reduce errors and enhance accuracy. 

Our clients at Inspirria can now deliver more complete and frequent forecasts, which include rolling forecasts as well, which enables them to take the right decision, at the right time.

Powerful Reporting & Analysis

Oracle NetSuite makes reporting and analysis of data super seamless, and effortless with a state-of-the-art drag-and-drop report builder, customized dashboards that different managers and departments can create and use as per their specific needs, the ability to slice and dice data across multiple dimensions, and more.

With real-time support for reporting across different business operations, the finance team and the management can have an eagle-eye view of the complete business, and thus, boost the efficiency and productivity of demand planning, logistics, warehouse management, and supply chain. 

Multiple Currency Support

Businesses that are active across continents and nations can now avail of multi-currency support for their financial management activities, and this changes everything. Oracle NetSuite’s One World module takes care of multi-currency support.

Be it planning, budgeting, forecasting, reporting, or taxation, the One World module by Oracle NetSuite empowers the business to remove complexities, and get accurate conversions based on real-time data sourced from global financial institutions.

Another very interesting feature of Oracle NetSuite for financial planning and management is Currency Translation Adjustment, which automatically calculates balance differences due to currency conversion, and helps global businesses to accurately report their balance sheets.

Intuitive Model Building & Administration

The highly advanced and intelligent model-building environment presented by Oracle NetSuite is a game-changer for financial management activities for businesses.

The administrators can now seamlessly manage and create their business models, effortlessly assumptions, exceptions, and formulas, import critical data from other platforms, grant access and permission rights to other users, and a lot more.

Connect with our seasoned and expert Oracle NetSuite Cloud ERP team from Inspirria Cloudtech, and explore the possibilities of optimally managing finances with Oracle NetSuite, right now!