While the Financials First Evolution outlines a proven path to success, the Financials First Value Chain is designed to dive deeper into your processes and workflows that can potentially be improved. Many of the on-premise solutions in the market are only focused on one piece of the puzzle, which means companies today often have 3, 4 or even more systems in place to handle all their operations. As today’s business models are rapidly evolving in an effort to stay competitive, this hairball of systems struggles to support your rapidly changing needs. In consideration of this, NetSuite built a modern, scalable solution to run all of your key back-office operations and financial business processes in the cloud.
Each of these rows represent key functional areas of your business. We’ve put selling and order management on top because Order Management is often the core of your business. Bringing efficiency to these processes ultimately prevents errors and establishes a smooth flow from sales quote to order fulfillment.
Optimizing your order management helps ensure timely invoicing and payment while improving quote accuracy, eliminating billing errors, strengthening revenue recognition processes and driving fulfillment accuracy and efficiency. This is a critical area where companies can differentiate themselves from their competition—streamlining these processes shortens time to receive and increases customer profitability.
Financial management and reporting are at the foundation of everything we do. Because NetSuite supports multi-company, multi-language, multi-currency, multi-book organizations, you can rest assured that NetSuite can address all of your future growth needs.
Enhancing your procurement process gives you more control over your money. By optimizing procurement for recurring needs with negotiated terms, tiered pricing, and pre-specified delivery schedules, the company engages in better spend management and can save or reallocate money. At the same time, maximizing the accuracy and timeliness of your timesheet and expense processes with online self-service tools will give you real-time visibility into the spending trends across your organization.
Finally, real-time business intelligence is essential to the overall success of your business. Customized reports and role-based dashboards allow you to analyze KPIs for each department and location while ensuring compliance and minimizing risk with the segregation of duties and fully auditable business processes. NetSuite gives you a single version of the truth in a single source.