- Reduced Planning Cycle Times: With pre-built templates and workflows, NetSuite Planning and Budgeting streamlines the gathering of inputs and assumptions, speeding up the planning process and enabling faster decision-making.
- Accurate Information: Integration with NetSuite ERP ensures that financial and operational data used in the planning process is always up-to-date and accurate, eliminating the risk of errors or discrepancies caused by manual data entry or outdated information.
- Alignment Across the Organization: By providing a centralized platform where all stakeholders can collaborate in real-time, NetSuite Planning and Budgeting ensures that everyone is working from the same set of data and assumptions, eliminating the need for emails and spreadsheets that can lead to version control issues and miscommunication.
- Increased Transparency: With consistent data entry processes and centralized tracking of changes, NetSuite Planning and Budgeting improves transparency into the budgeting process, allowing stakeholders to see who made changes and when, and ensuring that everyone has visibility into the latest version of the budget.
- Improved Forecast Accuracy: NetSuite Planning and Budgeting enables organizations to regularly compare actual results to projected forecasts, allowing for continuous refinement of forecasts based on real-world performance data. This iterative process helps improve the accuracy of future forecasts and enhances the organization’s ability to anticipate and respond to changes in the business environment.