NetSuite FP&A Integrations - Facilitate Your Financial Planning and Analysis

If you’re using Oracle NetSuite ERP for your business, then you have the ability to perform your financial planning and analysis (FP&A) tasks faster, with more accuracy, and with the ability to generate greater insights that power data-driven business decisions. All it takes is the right NetSuite FP&A integration. 

More and more organizations are seeing the value locked away within their ERP - one study found that for every $1 invested into ERP projects, that investment yielded a $1.52 return, or an ROI of 52%. This naturally has organizations excited about the value that could potentially be generated by their ERPs with a few simple integrations. 

Maximizing the Value of Your ERP with NetSuite FP&A

More and more organizations are seeing the value locked away within their ERP - one study found that for every $1 invested into ERP projects, that investment yielded a $1.52 return, or an ROI of 52%. This naturally has organizations excited about the value that could potentially be generated by their ERPs with a few simple integrations. 

The same applies for FP&A investments into your NetSuite. 

The right FP&A NetSuite integration can:

• Automate data collection
• Leverage cloud functionality (audit trails, single version updated with real-time data, easy to revert to earlier versions, etc.) 
• Unlock deeper insights
• Enable long-term planning and analysis (XP&A)

Let’s explore some of these benefits in greater detail below. 

Automate Data Collection

It’s only natural that your ERP consolidates your organization's financial data, making it an ideal starting point when performing FP&A activities. But if you’re using Excel for budgeting, planning, and analysis (or another platform that isn’t integrated into your ERP), that means hours of transferring data to your FP&A platform .

Not only is the manual data entry process analog, frustrating, and inefficient, it also increases the risk for error. One mistaken click or erroneously copied data set can corrupt the data and create a chain of inaccuracies. If this occurs early on the process can lead to hours of combing through earlier versions of the budget, report, etc., scouring the sheets to find where the error was made. 

There’s no better way to waste your team’s time - and leave them feeling pissed off - then to operate on these outdated FP&A tools. 

Worse yet, this has a compounding impact on your business as the time your team has spent combing through data has an opportunity cost; while doing this mind-numbing work, they’re unable to develop effective planning strategies, build what-if scenario models, develop risk mitigation strategies, and perform other valuable financial planning and analysis services. Data integrity issues with legacy FP&A tools, in other words, can prevent your experts from helping your business grow with effective FP&A. 

With an FP&A software integration for NetSuite, however, you will pull your data directly from your ERP, meaning no more errors. And all this data will be updated in real time, ensuring you’re using the most precise data available. Financial reporting software - especially when combined with your ERP, can lead to hundreds of hours of time saved. 

Leverage Cloud Functionality

A cloud FP&A platform also helps preempt the issue mentioned above whereby erroneous data is transferred over from one version of your reports to the next. A cloud-enabled FP&A integration will have a full audit trail that shows who made what change and when they made it. With organizations opting for cloud-based ERPs, adding on cloud FP&A software as an integration helps your organization take full advantage of all the cloud has to offer. See real-time updates on cash flow statements so you finance teams can conduct scenario planning using the most up-to-date financial and operational data. 

Unlock Deeper Insights

All numbers tell a story. The problem is that this story is often obfuscated by opaque and outdated systems that prevent your team from making critical insights that could be substantial ROI generators. 

For instance, with FP&A software integrated into your NetSuite, you can see in real-time the projected value of increasing or decreasing a budget of a particular department based on past data. Making data-driven decisions using this information during resource planning and allocation can be a potentially massive driver of growth at your organization. 

What’s more, with what-if scenario planning and other tools, these numbers begin to tell their stories louder and clearer, so your organization can make more effective decisions when budgeting for the next fiscal year. 

Make the data on your financial statements do more for your organization - let them inform future business-critical decisions.

Enables Long-Term Planning and Analysis 

XP&A software provides your organization with the evolution of FP&A - financial planning and analysis activities that are effective for your entire enterprise and can be leveraged long term (thus the name - extended planning and analysis, XP&A). 

This type of long-term planning can produce a massive benefit for your organization as you’re able to make data-informed moves that set your business up for success, help mitigate risk, help with workforce planning, budgeting, etc. 

How Easy Is It to Integrate?

There’s a misconception with new software that there’s a  difficulty in getting these new systems up and running, or at the very least, a learning curve. 

And while these concerns can be legitimate in some cases, the fact is that the best FP&A software for NetSuite doesn’t have any of these roadblocks. 

These NetSuite integrations are designed from the ground up to seamlessly fit into your system, be easy to manage, have a familiar look and feel to systems you’ve likely used in the past (i.e. Excel) and generally circumvent the complexity typically associated with adopting new systems. 

Limelight Cloud FP&A Software - Your NetSuite Planning and Budgeting Solution

If you want to get the most out of your NetSuite planning, budgeting, and forecasting then you need Limelight Cloud FP&A Software.

Leverage industry-specific support with your FP&A while using real-time data pulled from your ERP.

We are a NetSuite integration that can:

• Save your team hundreds of hours during FP&A processes with automated data consolidation

• Update data in real-time from your ERP

• Provide in-depth audit trails to ensure data integrity

• Uncover hidden costs, leading to massive savings

• Support planning activities like risk mitigation and what-if scenario modeling

• Interrogate data to reveal rich insights that in turn can inform business critical decisions

Get a free demo and see how with one integration you can unlock the full potential of your NetSuite ERP. Unlock your full FP&A potential when you have Limelight integrated with NetSuite.