INFORMATION ON THE NETSUIT VENDOR
NetSuite Inc. is a leading vendor of cloud computing business management software suites. NetSuite enables companies to manage core key business operations in a single system, which includes Enterprise Resource Planning (ERP), Accounting, Customer Relationship Management (CRM), and Ecommerce. NetSuite's "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.
With approximately 24,000 organizations and subsidiaries running NetSuite across more than 100 countries, some of the world’s best-known brands trust their businesses to NetSuite to take their financial and operational processes to the cloud.
Research calculations show NetSuite as the fastest growing out of the top 10 financial management systems globally.*
Organizations that run NetSuite:
• Free themselves from expensive and disruptive upgrades.
• Deploy across divisions and subsidiaries with unprecedented speed and efficiency.
• Transform their IT operations—reducing cost and driving business results.
• Gain ERP that is flexible and changes with the needs of the business.
Invested in your success
As a public (NYSE: N) company with strong cash reserves and extensive international operations, NetSuite gives its customers the assurance that they’re partnering with a company that has the resources to drive their success.
Security and availability
NetSuite provides comprehensive disaster recovery, security and uptime capabilities to corporate and the most remote subsidiary.
CIO Check List NetSuite
• Security (SSAE 16, (SOC1)/ISAE 3402 Type II, PCI DSS, US-EU Safe Harbor)
• Availability (Average uptime greater than 99.96%)
• Disaster Recovery (Multiple data centers, Mirroring and replication, Redundancy, failover and recovery)
• Proven Scale (Billions of requests/month, Millions of unique logins/quarter)
NetSuite guarantees an SLA of 99.5% uptime and delivers unprecedented ERP availability with an average uptime of 99.96%, together with complete performance transparency provided at status.netsuite.com. And for peace of mind, NetSuite’s multiple data centers ensure the most stringent data management and availability.
SHORT DESCRIPTION – NETSUITE ERP
NetSuite ERP helps organizations increase efficiency, improve visibility and set the foundation for good governance. NetSuite ERP enables organizations to manage IT costs, optimize accounting efficiency, streamline order management and procurement processes, eliminate manually-intensive spreadsheet-based reporting, and improve employee productivity.
NetSuite ERP provides powerful capabilities that help companies achieve these benefits:
• Improved financial operations efficiency and productivity with a single, integrated system to handle all core processes for users anywhere in the world.
• Timely financial close centralizing management of all period-end close activities to reduce time and resources spent investigating and resolving errors.
• Ongoing compliance with revenue recognition, tax requirements and financial reporting in accordance with various accounting standards and government regulations.
• Real-time visibility to see consolidated financial results for any part of the business at a summary level, and all the way down to the underlying transactional details.
Benefits experienced by organizations using NetSuite include:
• Reduced IT costs by 50% or more
• Accelerated financial close by 20%–50%
• Cut order-to-cash cycle by 50%+
• Reduced invoicing costs by 25%-75%
• Reduced days sales outstanding (DSO) by 10%–20%
• Reduced audit preparation time by 50%
Comprehensive Accounting and Finance
NetSuite ERP provides you with everything you need to establish efficient processes and gain transparency into business operations. In addition to standard general ledger functionality, flexible workflow tools to customize your processes and multi-currency support, NetSuite also delivers:
• End-to-end visibility into your receivables and payables with integrated order-to-cash (i.e. sales order, billing, collection) and procure-to-pay (i.e. requisition, purchase order, invoice) transaction management.
• Inventory fulfillment and costing from factory-to-store with supply chain management capabilities.
• Complete fixed asset lifecycle tracking and reporting from acquisition to depreciation to retirement.
• Support for project accounting and reporting on project financials and profitability.
• Automatic revenue recognition in accordance with accounting standards using flexible scheduling and sophisticated allocations.
• Full-service payroll processing, including support for time tracking, incentive compensation and expense reimbursement.
• Integrated budgeting and forecasting tools to manage financial projections against actuals.
Financial Close Management
NetSuite ERP helps organizations streamline the close process with capabilities to manage period-end activities, and to detect and respond to problems before they escalate or occur. NetSuite optimizes the financial close by delivering:
• Period locking to prevent incorrect postings to future periods.
• Period close checklist of tasks to be completed sequentially.
• Financial adjustments for intercompany transactions, foreign currency revaluation and inventory.
Effective Compliance and Controls
NetSuite ERP helps ensure compliance with various accounting standards and practices, and government regulations efficiently. NetSuite enables accounting compliance by delivering:
• A powerful rule-driven engine to produce financial reporting in accordance with multiple accounting standards (e.g. GAAP, IFRS) using multi-book accounting capabilities.
• Pre-built tax filing and reporting tools that are country-specific.
• Customizable roles with permissions that support segregation of duties.
• Audit trail visibility into detailed transaction history, reports and saved searches.
Real-Time Reporting and Analytics at the Office or Away
NetSuite ERP is one system that renders a single source of truth all the time. Any business user can create meaningful reports with easy-to-use tools, monitor the latest results as part of everyday activities, identify root causes of problems and take corrective action. NetSuite delivers real-time information with:
• Personalized dashboards to monitor the KPIs important to any role, from the executive to staff.
• Pre-built accounting reports and an easy-to-use report builder for customizing ad-hoc reports.
• Consolidated financial reporting for multiple subsidiaries and currencies.
• Access to information on-the-go with a mobile device.