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Wayne PotgieterMay 6, 2021 10:40:58 AM3 min read

NetSuite Planning and Budgeting

Budgeting using spreadsheets typically results in less collaboration, more inefficiency and
is error-prone. Excel is a powerful personal productivity tool, however, it lacks the collaborative capabilities necessary to develop the accurate and comprehensive budgets required by executive management, the board, or lenders. NetSuite Planning and Budgeting provides an easy-to-use budgeting solution that automatically uses your NetSuite financial data from NetSuite. It reduces budget cycle time, eliminates calculation errors, and generates integrated financial statements. Time spent on data entry and formula maintenance can be allocated to strategic financial analysis activities that have a greater impact.

Budgeting Made Easy
NetSuite Planning and Budgeting facilitates both company-wide and departmental budgeting within one collaborative scalable solution. Pre-built data synchronization with NetSuite enables financial and operational data to be used throughout the entire budgeting process, eliminating the need to transfer data manually.

These pre-built reports, templates, and capabilities make it fast and easy to get your budgeting process set on the right path:

  • Drillable executive dashboards
  • Revenue projections templates
  • Operating expense projections templates
  • Actual vs budget reports (income statement, balance sheet, cash flow)
  • Microsoft Office integration with Smart View
  • Multi-currency and multi-subsidiary support

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NetSuite Planning and Budgeting Navigation flow.

Drive Faster and More Strategic Revenue Projections
Quickly create product and/or segment projections, along with the ability to drill down to the transaction details. Then, continuously monitor actual performance against objectives, as well as the resulting impact on the balance sheet and cash flow. Organizations can also run a profitability analysis based on adjusting assumptions or projections in response to changing market conditions.

Effective Decision-Making With Powerful Dashboards
Create dashboards that display budget and actual data in minutes. Any change made is instantaneously reflected. The drag-and-drop dashboard designer puts powerful, yet easy-to-use, web-based reporting into the hands of finance and budget owners providing a secure, collaborative, and process-driven approach for defining, authoring, reviewing, and publishing financial and management reports.

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Pre-built dashboards make it easy to quickly visualise your actuals-to-budget trending in real-time

Simplify Operating Expense Projections
Accurately budget costs, identify cost reduction areas, and get a view of department and total company spend. Managers can enter department-specific commentary and plan at the summary account level or by detailed line item. Finance can get ongoing visibility into expenses vs budget targets so they can better manage spend.

Microsoft Office Integration
Smart View for Office enables the integration of NetSuite Planning and Budgeting with Microsoft Office tools such as Microsoft Outlook, Excel, Word, and PowerPoint. Users can use Excel as the environment for adding what-if analysis customers, items, or expenses categories on the fly. Users can also create data grids incorporating Excel formulas and formats. Common planning actions, such as spreading and allocation, are available for data grids rendered within Microsoft Excel.

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View, refresh, manipulate, submit, distribute and share data in Microsoft Excel, Word, and PowerPoint interfaces.

NetSuite Planning and Budgeting provides a powerful, yet easy-to-use-and-deploy budgeting solution. With pre-configured data synchronization with NetSuite General Ledger, your financial data is automatically pulled from NetSuite into the budgeting tool, manual data entry is eliminated, you always have the latest data at your fingertips and there is no need to worry about who got what data. Plus, you’re able to easily include everyone in the organization that needs to be involved in the budgeting process. This solution delivers the collaboration, control, and visibility needed to better manage the complete budgeting process using one end-to-end solution.

Join the webinar Moving Away from Spreadsheets for Budgeting to see a demo of how NetSuite Planning and Budgeting can help your business.

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Wayne Potgieter

Wayne is an action-oriented Sales Manager with a proven track record of managing new business development to drive growth and ensuring that Verde customers are looked after. Prior to joining Verde, Wayne worked within strategic business development and customer management roles at several international companies.

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