Finance teams often face challenges due to fragmented business processes that complicate management and planning, limiting their ability to concentrate on future growth. NetSuite Enterprise Performance Management (EPM) offers a suite of solutions that unifies planning, budgeting, forecasting, account reconciliation, financial close, and reporting processes across the organisation. This integration enhances business visibility, improves decision-making, and fosters growth.
Built on the Oracle Fusion Cloud Enterprise Performance Management platform, NetSuite EPM is seamlessly integrated into NetSuite, ensuring you always have access to the most current information.
Key Benefits of NetSuite Enterprise Performance Management
- Improved Decision-Making. Leverage financial and operational data from across the organisation to integrate budgeting, forecasting, and reporting processes, gaining insights that lead to well-informed decisions.
- Streamline Financial Close. Facilitate account reconciliation and financial close with automated processes, minimising errors and enhancing accuracy.
- Boost Operational Efficiency. Save time by eliminating the manual tasks of gathering, reconciling, verifying, and analysing the company’s finances through spreadsheets and limited niche solutions.
Planning and Budgeting
Automate the demanding planning and budgeting processes, enabling finance teams to swiftly and effortlessly create budgets and forecasts, simulate various scenarios, and produce reports—all within a unified, scalable platform.
Account Reconciliation
Simplify the reconciliation process for all general ledger and balance sheet accounts. This enhances the accuracy and speed of the closing process by automating the intricate tasks of aggregating and matching financial data from diverse sources. Accounting teams can standardise, expedite, and centrally oversee the entire financial close process. Journals are directly posted to the NetSuite general ledger.
Close Management and Consolidation
Oversee the entire consolidation and closing process seamlessly. Utilise GAAP-compliant applications that offer comprehensive currency support, intercompany eliminations, equity eliminations, adjustments, and detailed data source tracking. Pre-configured consolidation features enhance the precision and efficiency of the closing process by reclassifying, adjusting, and eliminating data across any hierarchy.
Profitability and Cost Management Reporting
Gain a clearer insight into which customers, products, and business segments are profitable and which are not, enabling more informed decisions on business direction and resource allocation with a comprehensive understanding of costs and profitability.
Narrative Reporting
Enhance the understanding of financial figures by integrating financial statements and data with descriptive narratives in a unified report. Stakeholders can effortlessly collaborate in a centralised space throughout the report creation process to define, draft, review, and publish both management and regulatory reports.
Corporate Tax Reporting
Streamline tax reporting by aligning it with corporate financial reporting to enhance visibility and compliance. Leverage financial data from the NetSuite general ledger to ensure your tax calculations are accurate and timely, using the most current information. Comprehensive reports and dashboards facilitate the analysis of all tax data and the creation of tax disclosures.
NetSuite Enterprise Performance Management (EPM) stands as a transformative solution for finance teams seeking to overcome the complexities of fragmented business processes. By unifying planning, budgeting, forecasting, and reporting, NetSuite EPM not only enhances decision-making and operational efficiency but also positions your organisation for sustainable growth.
With its seamless integration into the Oracle Fusion Cloud platform, you gain real-time access to critical financial data, ensuring accuracy and compliance across all financial operations. Embrace the power of NetSuite EPM to streamline your financial processes, drive profitability, and confidently navigate the future of your business.
