NETSUITE ADDS ADVANCED EMPLOYEE RESOURCE MANAGEMENT
New Capabilities Enable Both Employee and Managerial Self-Service, Improving Productivity and Reducing Costs
SAN MATEO, Calif.—December 20, 2006—NetSuite, Inc., the leader in on-demand business software suites, today announced NetSuite® Employee Resource Management (ERM). Built as part of NetSuite, the new ERM functionality automates and centralises employee management and self-service providing the tools to boost employee productivity and reduce costs.
Employees can enter expense reports and purchase requests, track time by project, and access HR-related documents. Built-in approval workflows can be customised to allow managers to easily approve subordinates' expenses and purchase requests while viewing the complete history for their entire team. In addition, HR can share documents with employees regarding benefits, job performance and reviews, company policies, new hire information, company holiday schedules and other HR-related information as desired. All these capabilities are easily accessed via the NetSuite Employee Centre, an on-demand employee self-service portal available within NetSuite.
Moreover, when used in conjunction with NetSuite's integrated payroll service, employees can manage vacation time and W-4s and view pay stub details. With one click, managers can approve employee time and expenses, and relevant data flows automatically to payroll, billing, and the general ledger — greatly improving efficiency and accuracy.
For more information on NetSuite Employee Resource Management (ERM), please visit: www.netsuite.com/erm
"NetSuite's new ERM capabilities make it as easy to manage employees as it is to manage the rest of your business, such as customer and vendor transactions," said Zach Nelson, CEO of NetSuite. "In the past, HR departments required complex integrations between their HRIS system and their financial system. Now, they can empower their employees and managers with self-service and integrated expense reporting, as well as eliminating the red tape and cost of administering purchase management, time tracking and payroll through disparate applications."
NetSuite ERM ties the following key HR capabilities into its on-demand suite of Accounting/ERP, CRM and ecommerce applications:
- Expense Reporting: Employees can fill out expense reports, bill items to clients or projects, and route their reports automatically to supervisors. Supervisors, in turn, can approve the reports from their dashboards with one click. Approved expense reports are reflected automatically on the next payroll run.
- Purchase Requests: Employees can easily make purchase requests which are then routed to supervisors for approval. Once approved, the accounting department can convert purchase requests into purchase orders with just one click.
- Time and Billing: With NetSuite, users can track time and billing for an unlimited number of customers, and projects, and assign billable time to individual jobs, departments, and/or classes automatically. Time can also be entered for payroll purposes such as personal time off, vacation, sick time or unpaid leave.
- Document Management: NetSuite's document management system electronically organises and stores content, supporting publishing both internally through the corporate intranet. This allows HR to publish information pertinent to employees regarding job reviews, company policies, employee handbook, company holiday schedules, benefits information and 401K details.
According to a recent Forrester research report by industry analyst Ray Wang, HR and ERP have the highest adoption rates of all types of software-as-a-service (SaaS) applications. "Among enterprises that use or are piloting SaaS applications, adoption of HR applications (at 54 percent) and ERP (at 40 percent) top the list, exceeding even CRM (at 38 percent)."
Pricing and Availability
NetSuite ERM is available now in NetSuite and NetSuite Small Business, by purchasing the NetSuite Employee Centre, which is sold in five-user bundles starting at $49 per month. NetSuite's payroll service is sold separately, and is priced based on number of users and payroll frequency.
NOTE: NetSuite and the NetSuite logo are service-marks of NetSuite, Inc.