The #1 cloud financial management solution
What is NetSuite Financial Management?
NetSuite financial management solutions expedite daily financial transactions, ensure compliance and accelerate the financial close. Our cloud-based platform delivers real-time visibility into the financial performance of any business, from a consolidated level down to individual transactions. NetSuite financial management seamlessly integrates with additional business applications — including order management, inventory, CRM and commerce — so you can run your entire business with a single solution.
Efficiently Manage Your Financial Processes
From bank reconciliation and assets management to receivables, payables, revenue management and more, NetSuite helps you automate complex financial processes.
Drive Business Strategy and Growth
Using NetSuite financial, headcount and operational data, quickly and easily produce budgets and forecasts, model what-if scenarios and generate reports.
We decided to switch to NetSuite because we wanted a system to support where the business was going.
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NetSuite Financial Management Benefits
- Close with Confidence. Accelerate the financial close and maintain compliance with accounting standards.
- Report with Accuracy. Drill down into underlying details and understand the impact to your business.
- Real-time Information. Improve performance with real-time metrics and role-based dashboards.
NetSuite Financial Management Features
NetSuite financial management solutions automate core finance and accounting processes, provide detailed insights into the performance of your business and reduce the risk of reporting errors, giving you greater control of your financial assets.
Accounting
Seamlessly couple core general ledger, accounts receivable, accounts payable, tax management, fixed assets management, cash management and payment management accounting functionality with real-time visibility and business insights to drive financial excellence.
Billing
Streamline billing operations with real-time visibility into financial and billing activity. Consolidate invoicing, automate rating processes and support multiple pricing models. Easily manage recurring subscription billing with automatic renewals.
Planning and Budgeting
Perform both companywide and departmental budgeting and financial planning with modeling capabilities, approval workflows and reporting within one collaborative, scalable solution.
Revenue Recognition
Comply with accounting standards like ASC 606 and IFRS 15 and report financial results in a timely manner. Simplify the complexities of evolving revenue recognition mandates, no matter if a sale encompasses a single performance obligation, a series of obligations spanning a time period or diverse obligations in a bundle.
Financial Reporting
Gain a more complete picture of your business — on demand and in real-time. Preconfigured role-based dashboards, reports and KPIs deliver tailored, detailed insights into company performance for improved decision-making. Generate accurate financial statements and reports that comply with US GAAP, IFRS and other accounting standards.
Financial Consolidation
Centralize the oversight of accounting processes, data and reporting across multiple business units, subsidiaries and regions. Accelerate the close process with automated consolidations while ensuring compliance with relevant accounting standards, tax codes and regulations wherever you operate.
Governance, Risk and Compliance
Audit-ready solutions to support and empower your company’s governance, risk and compliance (GRC) programs. An array of reports and certificates and built-in capabilities and processes handle increasingly complex regulatory, operational and compliance requirements with ease.
Challenges NetSuite Financial Management Solves
- Manual Processes. Automate and streamline manual processes that waste time and resources.
- Data Accessibility. Single source of real-time transactional, financial and operational data.
- Accuracy. Replace spreadsheets and boost accuracy by eliminating duplicate data entry and incorrect formulas.
- Compliance. Consistently apply the appropriate rules and schedules to revenue recognition, amortization and depreciation, prepaid and deferred expenses and other financial processes.
Faster Time to Value
NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.
How Much Does NetSuite Financial Management Cost?
Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?
Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for the initial set up. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.
Some financial management solutions are included with the NetSuite platform license and others are available as add-on modules.
Resources
Data Sheets
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Customer Stories
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Product Demos
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Webinars
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Guides & Blogs
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Essential Learning
Discover best practices and learn more about financial management from beginner to advanced levels.
- Financial Management Explained, Scope, Objectives and Importance (Article)
- Financial Planning & Analysis: Practices, Roles, Responsibilities, and Functions (Article)
- Fixed-Asset Accounting Basics (Article)
- What is Liquidity and Why Does it Matter to Businesses? (Article)
- What is Selling, General & Administrative Expense (SG&A)? (Article)