NetSuite EPM is available to be demoed and purchased
NetSuite Enterprise Performance Management, better known as NetSuite EPM, is a set of complementary NetSuite cloud tools that support EPM, also known as Corporate Performance Management (CPM), which is a management approach which encompasses a set of processes and analytical tools to ensure that an organization’s activities and output are aligned with its goals, and last April 17th Oracle Netsuite announced its availability for EMEA.
This means that, while your NetSuite ERP (Enterprise Resource Planning) is focused in managing and optimizing the resources of your company (personnel, facilities, assets, suppliers, customers, liabilities, etc) by registering all the “transactions” related to them (cash in/out, warehouse in/out, payments/collections, etc.), it is focused in supporting your operations daily, and records that data, so you align Execution to your company’s Strategy.
NetSuite EPM uses your NetSuite ERP information in order to link your company strategy to actions by planning, budgeting and following-up on company-wide agreed plans related to sales, expenses, opex/capex projects, current/future human capital, and so on.
What is included in NetSuite EPM ?
Since April 17th 2024, NetSuite has already made available 2 components of its EPM, while 3 more will come shortly. Let’s review them in detail:
1. NetSuite Planning & Budgeting (NSPB)
A great module for performing Demand Planning, Sales Planning, Workforce Planning, Projects Planning, Production Planning, etc. It allows too the implementation of ESG (Environmental Social and Governance) reporting. It is provided under two versions (Standard and Premium).
2. Account Reconciliation (ARC)
Complements NSPB and your current ERP, as it allows a faster consolidation process for those companies operating in several countries and different currencies under one unique holding.
3. Profitability and Cost Management (PCM)
Knowing how much is your real profitability by product/service/line, etc. is key when making your annual Plans and supervising them, so you can make informed decisions.
4. Narrative Reporting (NR)
This component will allow your team to create much faster the quarterly and annual reports, as it name suggests, it aligns the narrative writing with financial statements and data in a single report.
5. Corporate Tax Reporting
A must-have if your company has multinational operations, as it helps you to comply efficiently with new OECD country-by-country reporting obligations.
Cash and Cash Flow Dashboard
Controlling your cash is key in these high-interest rates times, and NetSuite EPM not only provides the common EPM functionality related to income/expenses planning and forecasting, but it includes a pre-configured Framework that, among several functions, that provides you a Cash Flow Dashboard with graphs and other aids to help you analyze your discounted cashflow from operations, populating this data from your NetSuite Accounting Software.
Why NetSuite EPM is different to other EPM systems?
Among the capabilities that are relevant once you are a medium/advanced EPM user, NetSuite EPM is the only fully integrated to NetSuite ERP, and that means that you can import “metadata” from your ERP. This means that you will be able to update “metadata” data in your ERP (accounts structure, for example) and have that new account structure updated for your use in your EPM without the need of a consultant, saving costs in the long-term.
What is the NetSuite pricing for this new EPM component?
NetSuite is very price conscious of their users (specially NetSuite at small business pricing), so even NetSuite refrains to publicly share their prices, according to our epm4ns experiences in the past, its price/value ratio will continue being as attractive as the current NetSuite Planning and Budgeting (NSPB), and much better as any other EPM SaaS solution integrated to NetSuite ERP, but if you want to know more details, write to info@epm4ns.no and we will get back to you with latest information we have access.
Want to know more ?
Watch our blog to take a glance at it and learn more about how Enterprise Performance Management (EPM) processes implemented through NetSuite EPM can strength your Strategy to Execution process or write us: info@epm4ns.no