Is now the time to review your financial planning processes?

Written by Joseph Maskrey

24 | 05 | 21

2 minute read

As businesses grow, system limits can hamper future dreams of expansion due to lack of flexibility. IT system flexibility allows organisations to maintain control and react to possible changes in a hypercompetitive, rapidly changing environment, particularly over the past 12 months.

As finance teams begin to grow significantly and quickly, systems like Excel and Sage present frustrating hurdles for these teams due to their lack of efficiency and data integrity. Finances become backlogged and system accounting methods becoming outdated, leaving teams submerged in admin quicksand when it comes to month end reporting through manual processes.

So when is enough, enough? Is it when reporting turns into multi-consecutive day processes? Or when the board have not been provided with the financial information needed in time to make a good decision before their board meeting?

The key? Flexible, scalable and cloud-based solutions like the NetSuite Planning and Budgeting system.

NetSuite Planning and Budgeting is built on the Hyperion Planning/Essbase platform, a proven financial analytics solution. NetSuite Planning and Budgeting scales from start-up to enterprise, meaning it’s the last budgeting, planning and reporting solution you’ll need.

The technology has proven itself time and again in the marketplace. This reputation comes from standardised leading implementation practices but also from offering the ability to customise the technology to match your business requirements. Other planning and budgeting solutions have infrastructure that is built with a rigid interface and customers must make compromises in templates, forms and reports due to these limitations.

With proven technological dominance within the market as stated by the Gartner Magic Quadrant, we asked a FTSE 250 financial professional and NetSuite client why do NetSuite and the FHL/RSM team standout?

“The process and demonstrations of the system capabilities allowed FHL to stand out amongst others. I would be highly likely to recommend, irrespective of the product but the FHL team were great, easy to get along with.”  

With FTSE 250 financial professionals holding not only FHL, but also the NetSuite Planning and Budgeting system in such high regard, why not contact Joe Maskrey or sign up to our free Netsuite Planning and Budgeting webinar on 22 June here.