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NetSuite Financial Planning and Budgeting

December 15, 2022

NetSuite Planning and Budgeting facilitates the swift adoption of superb financial planning and budgeting throughout businesses with versatile and customisable deployment. Financial planning can be company-wide or departmental, leveraging approval workflows, modelling capabilities and reporting, all within a single, scalable solution. It is driven by a sophisticated calculation engine that accommodates business logic alongside rapid in-memory aggregation and immediate financial planning analysis and reporting.

The solution integrates seamlessly with Microsoft Office tools and Excel can be deployed as the environment for adding custom members, editing data and ad hoc modelling. You will find the full range of common financial planning actions and much, much more.


NetSuite Financial Planning and Budgeting Benefits at a Glance


  • Gain enhanced control over plans, budgets and forecasting.
  • Reduce planning/forecasting cycle times with simplified input collections and assumptions.
  • See impacts on business performance by drilling across budgets, forecasts and actuals.
  • Collaborate closely with stakeholders and drive improved decision-making.
  • Leverage predictive planning to improve the accuracy of forecasts.


Workforce Planning


This aligns your HR needs with the needs of the business to ensure strategies can be executed successfully. Managers of different departments will be able to collaborate to establish roles, budgets and priorities throughout the organisation via the examination of overall headcount costs to ensure the correct number of people are hired as and when they are needed without exceeding budgets.

NetSuite Planning and Budgeting compiles financial, payroll and HR data together to enable the planning of salary, headcount, payroll and bonus taxes using business actuals. Leaders will thus be able to swiftly build plans and models with no need to rekey or reassemble workforce information in spreadsheets. Predictive Planning enables users to optimise forecasting estimates with a powerful statistical modelling engine.How it benefits you:


  • Better collaboration between finance and HR.
  • Drill down into specific skills and competencies that are required for success.
  • Plan the workforce using flexible modelling aligned to the way your business is run.
  • Gain a full view of headcount throughout the organisation.
  • Cost prediction and forecasts of the efficacy of organisational changes.


Expense Planning


NetSuite Planning and Budgeting enables effective management, prioritisation and planning for capital expenses, indirect expenses, operational expenses and expenses relating to travel. The modelling and reporting capabilities, along with the enhanced communication between departments and the built-in analytics and intelligence make expense planning in all its forms far simpler. How it benefits you:


  • Model capital expenses and provide an effective methodology for justification, review and approval.
  • Utilise structured processes for building and maintaining travel and expense planning.
  • Automate allocations of indirect expenses.
  • Connect operational assumptions to financial outcomes to simplify opex planning.

    Robust Financial Modelling


    Demand and costs fluctuate, leading to a constantly-changing business landscape. With NetSuite Planning and Budgeting, you can stay ahead of the competition by understanding these changes and modelling financial/operational changes with flexible assumptions. Tools include:


    • Advanced modelling techniques.
    • Numerous what-if scenarios.
    • Predictive analytics.
    • Rolling forecasts.


    Planning and management reporting can be effortlessly integrated. These reports and dashboards display data relating to plans, forecasts and actual activity, created in minutes with changes reflected in real-time. The report builder features a drag-and-drop interface to supply powerful yet user-friendly web-based reporting for finance and business managers. How it benefits you:


    • Data Integration with NetSuite ERP.
    • Financial intelligence and spreading logic.
    • Versatile what-if modelling.
    • Commentary and annotation capabilities built in.
    • Robust reporting and ad-hoc analysis with support for charting and formatting.
    • Capabilities for flexible workflows and plan management.


    Integration with Microsoft Office


    As mentioned, NetSuite Planning and Budgeting integrates comprehensively with Microsoft Office. The tools it can work well with include Microsoft Excel, Microsoft Outlook, Word, Excel and PowerPoint with Smart View for Office.

    Excel is an ideal environment for adding custom members as required, as well as slicing up data and carrying out ad-hoc modelling. Excel formulae and formats can also be incorporated into data grids. Common planning actions like allocation and spreading are possible in planning data grids that are rendered inside Excel. How it benefits you:


    • Swiftly navigate plan versions/details within Excel.
    • Create reports in Excel, PowerPoint and Word.
    • Analysis capabilities spanning free form and ad-hoc.
    • Access data from multi-dimensional sources.
    • User-friendly dynamic refreshing of Office documents.
    • Unique data perspectives for different users.
    • Supports highly formatted grids within Excel.


    NetSuite SuiteSuccess – Planning and Budgeting Premium Edition


    The Premium Edition of Planning and Budgeting is designed to deliver a comprehensive planning and budgeting solution. It can be customised and optimised to meet the needs of your specific industry. The module is already a holistic offering tailored to specific industries, but the Premium Edition also accommodates moderate customisation to your business. It can act as a springboard to rapid future growth if deployed and utilised effectively.

    For effective deployment, Planning and Budgeting Premium Edition is implemented with the support of expert consultants. These individuals can help develop and align customisations to the needs of your business and can ensure accurate, on-schedule implementation.


    Why choose Eventura to deliver your NetSuite Project?


    As an official NetSuite solution provider, we have successfully delivered countless NetSuite implementations and integrations. Our expert team of business analysts, developers, consultants, technicians and support staff can guide you through your entire project, from initial scoping through to implementation and on-going support. We also offer a wide range of Managed IT Services, so we can help you deliver your project in it’s entirety.

    We believe that NetSuite offers its customers a comprehensive suite of products that can digitally transform their businesses, replacing a range of disparate systems and software with one unified solution to business management.

    If you would like to speak to one of our NetSuite experts, you can request a free call back here.

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