For fast-scaling companies, having the right technology in place is critical to spurring and supporting rapid growth. As the steward of financial operations and strategy, the CFO plays an instrumental role in selecting and adopting enterprise platforms that allow for scaling up operational excellence.
NetSuite deserves strong consideration as the cloud ERP of choice for ambitiously growing businesses. Offering a unified system to automate everything from financials to supply chain to manufacturing and customer engagement, NetSuite accelerates business expansion in a cost-effective manner.
This blog post explores the advantages NetSuite provides for CFOs seeking visibility, efficiency and analytics to drive expansion and results. Weโll also overview why partnering with Anchor Group optimizes the success of a NetSuite implementation.
NetSuite Capabilities to Empower CFOs
For CFOs, having timely, accurate data visibility is essential for making strategic decisions and guiding direction. NetSuite delivers robust capabilities purpose-built for modern finance teams including:
Unified Ledgers and Reporting
NetSuiteโs general ledger provides the core foundation for recording all transactions and activity across the business. Key features include:
- Customizable ledgers – Configure ledgers across business units, products lines, global subsidiaries and more.
- Multi-currency support โ Maintain ledgers and reporting in local currencies to manage international operations.
- Audit-ready โ System controls, access permissions and retention policies to support audits. ย
- Real-time reporting โ Built-in financial reports and dashboards across all modules. Gain insights.
- Drill-down analytics – Click into line items and journal entries for details.
With a unified ledger, CFOs gain an accurate, real-time understanding of financial performance enterprise-wide. This enables better forecasting, budgeting and decision making.
Automated Processes and Controls
NetSuite builds automated controls and workflows into business processes – essential for growth and scale. For finance teams this includes:
- Accounts Payable – Streamlinedย AP automation. Enforce approvals, match invoices, schedule payments.
- Expenses – Automate T&E reporting, approvals routing and reimbursement.
- Accounts Receivable – Automated invoicing, collections and cash application. Customizable to business needs.
- Revenue Recognition โ Flexible management of revenue scheduling, recognition, deferrals and reporting.
- Purchasing Controls โ Policy-driven procurement ensures cost efficiencies and compliance.
With automation, CFOs can embrace business expansion without adding administrative headcount. Errors are also reduced allowing more time for strategic tasks.
Advanced Analytics and Reporting
NetSuite enables CFOs to extract strategic insights through advanced analytics. Features include:
- Role-based Reporting โ Different report packages tailored for CFOs, controllers, treasurers, audit and others.
- Report Builder โ Drag-and drop interface to quickly create and customize reports.
- Real-time Dashboards – Key metrics, trends and data visualization via dashboards.
- Reporting Snapshots โ Save and distribute point-in-time report data.
- Cash Flow Analysis โManage cash positions, shortfalls and surpluses intelligently.
- Excel Integration โ Export both summaries and transactional data for further analysis.
Leveraging analytics, CFOs can identify issues, opportunities and translate findings into actionable strategic plans.
Integrated Planning and Analysis
NetSuite also features performance management and planning capabilities to complement financial reporting. This enables CFOs to connect budgets, forecasts and modeling to financials.
CFOs gain insights not only into what is currently happening, but also future trajectory allowing them to steer towards growth targets. Planning and analysis tools include:
- Budgeting and Forecasting โ Flexible tools including driver-based modeling capabilities.
- Workforce Planning โ Model headcount and personnel cost impacts on financials.
- What-If Analysis โ Conduct scenario comparisons and variance analysis. ย
- Financial Modeling โ Assess business models, growth options and long term projections.
- Expense Allocation โ Dynamically allocate costs based on usage activity, headcount and other drivers.
With NetSuite, CFOs can unify real-time financial reporting with proactive planning and analysis for complete visibility to guide intelligent growth strategies.
Why Anchor Group for Your NetSuite Implementation?
Selecting the right ย NetSuite implementation partnerย is crucial for unlocking the full value of NetSuite for finance transformation. Anchor Group is a proven choice having specialized in manufacturing, distribution and supply chain implementations. Consider these advantages:
Deep Industry Expertise
Anchors Group focuses heavily on the manufacturing and distribution verticals. This translates to solutions tailored more precisely to how CFOs in those industries operate and make decisions.
Proven Methodology
Anchor Group deploys NetSuite using their ASAP methodology – a structured 6 stage approach refined over 200+ past ERP implementations. CFOs gain better results.
Emphasis on Adoption
The most impactful solutions must be embraced by users. Anchor Group prioritizes change management and user enablement for faster ROI realization.
Ongoing Support
Clients have access to Anchor Groupโs solution architects, developers and technical resources for continuous program success and enhancement.
The Scalable Platform for Growth
NetSuite provides a cloud platform to scale operations for rapidly growing businesses. By unifying and automating processes enterprise-wide – from supply chain to manufacturing to customer engagement – NetSuite enables expansion unconstrained by legacy technologies.
For CFOs specifically, NetSuite delivers timely visibility into financial performance combined with scalable tools to plan, analyze and model the future. This empowers finance leaders to guide strategic decisions and accelerate growth trajectories. Partnering with Anchor Group helps optimize success unlocking the advantages NetSuite offers.
To further explore NetSuite capabilities for CFOs or best practices for cloud ERP adoption, please reach out to the experts at Anchor Group.
