1) Accounting: Integrates complete accounting functionalities (GL, AR, AP, TM, FAM, PM) on a single platform to provide real-time visibility & intelligent insights for financial supremacy.
2) Billing: Provides real-time visibility into financial & billing activity by centralizing entire billing operations. Manages subscription billings with auto-renewal, consolidates invoices & supports multiple pricing models by integrating SuiteBilling Features- (Subscription management, Pricing models, Rating engine, Billing Schedule, Change Orders, Subscription self-service, Recurring Revenue recognition, Reporting.)
3) Planning & Budgeting: Allows business to perform financial planning & budgeting with modeling capabilities for both department & company by providing approval workflows & reporting. All this on a single scalable solution by integrating Planning & budgeting features- (Budgeting & Planning, Scenario planning & Modelling, Revenue planning, Operational Expense, Workforce planning, Trended financial statements, Data synchronization, Dashboards, Microsoft Office integration)
4) Revenue Recognition: Allows businesses to comply with accounting standards, report on-time & adhere to evolving revenue recognition mandates by integrating revenue recognition features- (Allocations. Rules & Schedules, Revenue Plan Management, Forecasting & Reporting).
5) Financial Reporting: Facilitates detailed insights with the help of preconfigured role-based financial dashboards, reports & KPIs for informed decision- making. Additionally helps in generating compliant financial reports & statements with accounting standards by integrating reporting features- (Configurable Financial Reports, Report Snapshots, Multidimensional analysis, Multiple Reporting standards).
6) Financial Consolidation: Helps business in consolidating spread financial & accounting process, financial assets, data & reporting across all the units, subsidiaries & locations with tax mandates & compliance. All these by integrating consolidation features- (Consolidation, Multiple tax & Accounting standards, Intercompany Accounting) on a single platform.
7) Governance, Risk & Compliance: Supports business to legitimize GRC programs with audit-ready solution support. Additionally, manages evolving compliance, regulatory & operational needs with extensive built-in reports & certificates by integrating GRC features- (Automate controls, Audit trails, Third Party Audit reports, Security Monitoring, Audit & Compliance reporting, Securing Master data.)
In addition to the impact that NetSuite brings to the business, an additional reason for NetSuite’s growing popularity is the ease of using NetSuite Mobile App. This enables on-the-go professionals to boost remote productivity. The team can manage time and expenses record, approve sales and purchase orders, access calendar and much more. After all, a mobile app adds to convenience, especially when it is the world’s only end-to-end cloud business management mobile application.