NetSuite Planning & Budgeting: A Powerful Tool for Strategic Decision Making
Gone are the days of clunky spreadsheets and manual calculations that leave you drowning in an ocean of numbers. NetSuite’s Planning & Budgeting module empowers you to take control of your financial planning.
From small businesses to global enterprises, this all-in-one solution can guide you through the complexities of budget creation, scenario modeling, forecasting, and more! Plus, with up-to-the-minute insights and dynamic dashboards, you’ll have your finger on the pulse of your organization’s financial health, helping you make informed decisions that propel your business forward.
Learn more about the key benefits and features of NetSuite Planning & Budgeting here.
What Is NetSuite Planning & Budgeting?
NetSuite Planning & Budgeting is a cloud-based software solution that helps businesses plan and budget their finances. It includes robust reporting and analytics capabilities, allowing users to track performance, identify trends, and make informed decisions that could impact your company.
The solution comes with NetSuite’s Financial Management module.
Key Features of NetSuite Planning & Budgeting
NetSuite Planning & Budgeting provides a collaborative and intuitive platform for finance teams to create, review, and analyze real-time budgets and forecasts. It offers a range of features and capabilities to facilitate these tasks, including:
- Budget creation - Create and manage budgets using pre-built templates or customizing your own budget models. You can define budget assumptions, allocate resources, and set targets for different departments, cost centers, or projects.
- Flexible modeling - Generate accurate financial forecasts based on historical data and business drivers. NetSuite Planning & Budgeting supports various forecasting methodologies, such as driver-based planning, rolling forecasts, and what-if scenarios.
- Collaboration - Provide a centralized platform for teams to work together. Users can share data, annotations, and comments, allowing for communication and collaboration across departments.
- Workflow and plan management - Define and manage your planning processes with workflows that enable you to assign tasks, set deadlines, monitor progress, and send notifications.
- Reporting and analysis - Track budget performance, compare actual against budgets and generate financial reports. Users can create interactive dashboards, perform ad-hoc analysis, and visualize data to gain insights into financial performance.
- Integration - Seamlessly integrate with other NetSuite modules, such as accounting and reporting, ensuring data consistency and accuracy across the organization.
NetSuite Planning & Budgeting Benefits
1. Aligned Information
Does your business have multiple departments, cost centers, or projects? An advanced solution like NetSuite Planning & Budgeting can handle complex budget structures and provide the necessary tools for collaboration and consolidation.
Additionally, templates and workflows make it easy to gather inputs and assumptions, which can help reduce the time it takes to create and approve budgets.
2. Reduces Manual and Error-Prone Processes
If your operations heavily rely on manual data entry, spreadsheets, and email communication, it can lead to errors and time-consuming efforts. NetSuite’s Planning & Budgeting module can help your business eliminate mistakes and improve efficiency.
Plus, all stakeholders are connected in a single environment, improving communication and ensuring everyone works with the same information.
3. Increased Transparency
With NetSuite Planning & Budgeting, everyone enters data consistently and uses the same processes, so all changes are tracked. This can help improve visibility into the planning process and make identifying and addressing problems easier.
4. Scalability and Growth Needs
Managing budgets across multiple entities or locations can become complicated if your business expands. NetSuite Planning & Budgeting supports multi-entity consolidation and adapts to your evolving business needs, making it a great option for growing organizations.
How to Get Started With Netsuite Planning & Budgeting
To start, you can request a demo to see how NetSuite Planning & Budgeting can work for your business. Once you’ve decided it’s right for you, contact NetSuite directly or work with a NetSuite partner to implement and train your staff to use the solution.
At SCS Cloud, our cloud software experts can assess your requirements, discuss your budgeting and planning needs, and provide you with an estimate of the implementation cost and any ongoing subscription fees.
How Much Does NetSuite Planning & Budgeting Cost?
The cost of NetSuite modules depends on a few factors, including the size of your organization, the number of users, and the level of customization required.
Keep in mind that NetSuite comes with standard ERP and CRM modules. However, if you want additional functionalities, like Netsuite Planning & Budgeting, you’ll need to purchase the broader NetSuite Financial Management module.
Contact Our NetSuite-Certified Specialists Today!
Don’t let your competitors steal the spotlight! Take action today with NetSuite Planning & Budgeting.
Whether you’re a small business, a growing startup, or an established enterprise, contact SCS Cloud today to set up a FREE consultation. Give us a rundown of your company, and we can tell you how your business could benefit from this NetSuite module.