Every organisation is inundated with vast amounts of financial data, yet the challenge lies in transforming this data into actionable insights. Much of it sits in separate systems, some of it lays dormant, never seeing the light of day, and even more requires extensive manual effort to turn raw data into something usable. By the time it becomes understandable, it’s often already out of date.

But with NetSuite, all that data is made available. NetSuite consolidates all your operational and financial data in a single, unified platform. This means all your information is accessible in real-time and consistent across the organisation – you finally get that all-important single source of truth.

If you’re a NetSuite user, you already have access to up-to-the-minute financial data and know the value of getting a clear and accurate picture of your company’s performance at any given moment. If you’re exploring the capabilities, then you will want to read on.

There are many different ways to slice and dice data in NetSuite, and in this blog we are going to share the advanced financial reporting and analytics tools made available on the NetSuite platform – either as standard functionality or via add-ons and modules that work natively with the platform.

Real-time NetSuite dashboards and NetSuite analytics

Every NetSuite instance comes with the ability to add real-time dashboards displaying an immediate overview of key financial metrics – with the option to drill down from summary- to transaction-level details. The wide range of dashboards – customisable to roles, individuals, and departments – allow organisations to track all the metrics that matter most to them. Whether you need a holistic view of the organisation’s financial health, need to keep tabs on operational efficiency, customer satisfaction, or any other critical performance metric, NetSuite can be configured just the way you prefer. And it’s all displayed with charts, graphs, and tables that make complex data visually appealing and easily interpretable.

They’re easy to set up too. Particularly if you opt for the prebuilt templates that NetSuite provides covering a wide range of common financial and operational metrics. Even with customisation, NetSuite’s intuitive interface allows users to modify and create new dashboards without requiring extensive technical expertise.

Another advantage of NetSuite’s dashboards is their seamless integration with other financial and operational modules within the platform. This allows you to bring together data from various departments and functions into a single, coherent dashboard – without having to work in cumbersome spreadsheets.

Customisable NetSuite reports

While dashboards are great for at-a-glance insights, NetSuite’s customisable reporting tools let you create and manage complex custom financial reports and save a bunch of time doing it. For example, you can compare the performance of specific business groups or create detailed profit and loss statements, cash flow analysis, or budget comparisons. You can also create custom reports that pull in data from multiple applications and other sources to provide a more complete view of business activities.

Some of the more advanced reporting solutions enable businesses to create custom calculated fields, allowing for straightforward calculations within reports, such as mean, median, mode, and more.

NetSuite’s advanced reporting can also be used to create forecasts that predict future performance based on historical and current business data. For example, suppose a company produces sales forecasts using its current sales pipeline. A report that combines recent sales data with inventory information can help it determine whether it has enough stock to meet projected demand.

Or, as another example, NetSuite customers can combine their current financial data with growth trends and assumptions to generate pro forma financial statements containing forecasts of future revenue, cash flow, assets, and liabilities.

If you’re a retailer, you could use NetSuite’s advanced reporting to analyse customer behaviour. By combining sales data with demographic information and purchase history, retailers can identify trends and preferences. This information could then be used to create targeted marketing campaigns and optimise product offerings.

The common thread here is easy access to up-to-date data.

Saved searches in NetSuite

NetSuite’s Saved Searches is a versatile tool that enables users to perform fast, optimised searches within the NetSuite platform. This tool provides real-time results based on the filters and criteria set by the user and allows for these settings to be saved for future use. Ask any NetSuite user and they will tell you how exactly valuable NetSuite Saved Searches are.

Now let’s look at some of the specific modules that can be put to work making your data accessible and insightful.

NetSuite Planning and Budgeting (NSPB)

NetSuite Planning and Budgeting (NSPB) provides tools for – as its name suggests – financial planning, budgeting, and forecasting. With NSPB, you can:

  • Develop detailed financial plans and manage complex budgets
  • Generate accurate forecasts with real-time data integration
  • Leverage predictive analytics for enhanced planning accuracy
  • Facilitate collaboration and automate workflows
  • Create detailed reports and customisable dashboards
  • Conduct scenario analysis and what-if planning
  • Seamlessly integrate with NetSuite ERP for comprehensive financial management

NetSuite Analytics Warehouse (NSAW)

NetSuite Analytics Warehouse (NSAW) is one of the newest and most significant advancements in NetSuite's reporting and analytics capabilities. It’s a cloud-based data warehouse solution leveraging Oracle’s cloud infrastructure to offer powerful data integration, transformation, and visualisation tools. Notably, NSAW:

  • Consolidates data from various sources, including NetSuite and other external systems, into a single data warehouse
  • Comes with pre-built analytics templates and dashboards tailored for different business functions
  • Supports seamless integration with NetSuite and other third-party applications
  • Offers scalable storage and processing power, so it can handle large volumes of data and complex analytical queries
  • Includes robust data transformation capabilities, allowing businesses to clean, enrich, and transform raw data into valuable insights
  • Leverages advanced analytics, including machine learning and artificial intelligence, to provide predictive insights and trend analysis
  • Supports collaboration features, enabling users to share reports and dashboards with colleagues

The beauty of NetSuite lies in the way it allows users to assess and make use of their financial data. From standard features to advanced tools, NetSuite offers a robust platform that enhances financial visibility, streamlines processes, and supports data-driven decision-making. Even better, each customer can easily customise their experience to meet unique business needs, ensuring that the right financial information is always at their fingertips.

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