It’s probably safe to say that if you’re reading this, your business depends on NetSuite ERP. You’re not alone: As the No. 1 cloud ERP solution, NetSuite is used by more than 40,000 organizations around the world.
But when it comes to FP&A, the power of NetSuite isn’t always enough. CFOs and their teams often require other systems for planning, modeling, reporting, and analysis. The result is hours or even days spent each month just trying to get everything to work together.
That’s where Adaptive Insights comes in. In a recent e-Book we published, we showcase how cloud-based corporate performance management software tightly integrates with NetSuite ERP to create a comprehensive financial management solution. You’ll spend less time collecting, validating, and formatting data, and more time on strategy and driving business decisions.
Here are five benefits you’ll gain by teaming the Adaptive Suite with your NetSuite ERP solution:
Step #1: Better data
Data is the foundation of business. The better your data, the more useful it will be in spotting issues, predicting the future, and driving the company forward. Thanks to the tight integration between the Adaptive Suite and NetSuite, importing data is fast and easy. No awkward imports. No problems to reconcile. No opening a service ticket at the end of the month. Instead of worrying about reconciling data through manual processes, you can start doing the things you really want to do with it, like create better board reports and more deeply explore the performance of the company.
Step #2: Better reporting
While NetSuite offers real-time reporting of customer relationship management data, the Adaptive Suite allows you to add the crucial financial layer. Plus, our intuitive web reporting lets you instantly create, review, update, and share up-to-the-second reports with your team. In fact, with the ability to self-service, your CEO and other team members can even build their own reports on an ad hoc basis without adding a burden to the finance team.
Step #3: Better planning and forecasting
Looking forward starts with looking back. By using the Adaptive Suite together with NetSuite for data collection and reporting, you’ll already be collecting inputs from all the crucial parts of your company. The more sources of data, the more comprehensive your planning can be. Not only that, but the reporting provides increased transparency into the data so you can understand the story behind the numbers.
Step #4: Better analysis
Once you have the Adaptive Suite and NetSuite working together, the real fun begins. With a single platform, you can dig into huge, integrated data sets from across the company to discover larger trends or drill down into the details of a single transaction. An emailed spreadsheet is often out-of-date the second it’s sent. But with constant access to real-time data, you can be sure your analysis is based on the business as it stands at that moment. At the same time, intuitive finance dashboards make it simple to visualize data to help nonfinance leaders engage more.
Step #5: Better intelligence
With a combination of better data, reporting, forecasting, and analysis, you’ll be able to empower your teams to better manage the entire business. Everyone will be more informed, your team will be more aligned, and leaders will experience increased confidence in their discussions.
Our CFO Indicator Q3 2017 survey explores CFOs’ confidence relative to data and technology, as well as their progress in moving toward a “single source of truth” (single source of financial and operational data). Results reveal that Finance has successfully cleared what we believe to be one of the most significant hurdles—their hesitancy to store data in the cloud. Read our other CFO Indicator reports here.