Create Better Budgets and Forecasts with Integrated NetSuite Financial and Operational Data

Rami Ali, Sr. Product Marketing Manager

June 2, 2021

Successfully modelling, forecasting and reporting on business performance can be incredibly difficult, especially when factoring in changes in consumer demand, delays in supply chains and the evolution of subscription-based businesses. And without an accurate and reliable flow of data between your transactional systems and your planning solution, leadership often can’t make decisions fast enough to take advantage of all the information available.

Exporting data out of NetSuite into spreadsheets for planning, budgeting and forecasting just doesn’t cut it in today’s hyper-competitive business environment. You need a more automated approach.

That was the issue facing Arbor Research Collaborative(opens in new tab). Its budgeting and reporting processes were extremely complex. Staff had to manually move data between transactional systems and the planning system. Manually pulling data and importing it into CSV formats and worksheets that didn’t scale added more difficulty.

After Arbor Research Collaborative integrated NetSuite’s planning and budgeting solution with NetSuite financials, project management and a third-party timekeeping software, the three-person accounting and finance team saved roughly 40 hours a month—time previously spent maintaining the integration between two software products. Staff can now redirect their efforts to delivering financial reports and financial analysis.

Planning and Budgeting with Ease

Recently, NetSuite revamped the connectors between its ERP and Planning and Budgeting Solutions. Two NetSuite Planning and Budgeting Sync SuiteApps automate the flow of data from NetSuite ERP and NetSuite SuitePeople to NetSuite Planning and Budgeting for more accurate budgeting, forecasting and reporting. This connection allows NetSuite users to automate and schedule the exchange of data so they can spend more time understanding and analyzing data. With these SuiteApps, NetSuite customers can reduce the risk of error, free up time spent on low-value-added tasks, re-forecast faster and accelerate the month-and quarter-end close, budgeting and reporting cycles.

The pre-built data synchronization packages ensure up-to-date financial and operational data, account structures and dimensions are automatically reflected in your budgets, forecasts and reports, and allows for a quick and easy way to start using NetSuite Planning and Budgeting and therefore a faster time to value.

NetSuite Planning and Budgeting Sync SuiteApp

With the NetSuite Planning and Budgeting Sync SuiteApp you will be able to extract accounting reports from NetSuite saved searches and import them into Planning and Budgeting. This SuiteApp allows you to define saved searches with the data that you need to improve planning and budgeting. You will have more reliable access to source data from NetSuite ERP, automated data flows allow more time for data analysis.

Key features include:

  • Run, schedule, and monitor all your data sync activities from within NetSuite.
  • Automatically load budget data back into NetSuite tables.

NetSuite Planning and Budgeting SuitePeople Sync SuiteApp

With the NetSuite Planning and Budgeting SuitePeople Sync SuiteApp, you can easily connect data from SuitePeople(opens in new tab) to NetSuite Planning and Budgeting to improve workforce planning. This SuiteApp allows you to import SuitePeople headcount data into the planning and budgeting solution for accurate, trustworthy workforce planning, reporting and forecasting. NetSuite customers can quickly plan for headcount, payroll, salary and bonus with data from NetSuite SuitePeople, and reduce errors by eliminating the manual transfer of data and free up time wasted on manual tasks that add little value.

Key features include:

  • Pre-built saved searches to load data such as employee, job title, work location and employee values.
  • Pre-configured load rules. No manual data configuration or data mapping is needed.

NetSuite manages your business finances and operations. NetSuite Planning and Budgeting(opens in new tab) facilitates your financial planning with modeling capabilities and reporting. Integrating NetSuite with NetSuite Planning and Budgeting provides one collaborative, controlled and scalable solution for your organization. This NetSuite connection with NetSuite Planning and Budgeting is fast, reliable, and flexible ensuring your data is up to date. The data connection is designed to be maintained and managed by finance from the NetSuite interface without the need for IT to make any adjustments. This frees up resources and lets you develop a planning process that is more collaborative and agile.

Watch this product demo(opens in new tab) to learn more about NetSuite Planning and Budgeting data synchronization capabilities.

NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices that pave a clear path to success and are proven to deliver rapid business value. With NetSuite, you go live in a predictable timeframe — smart, stepped implementations begin with sales and span the entire customer lifecycle, so there's continuity from sales to services to support.