To compete, growing companies need to upgrade their business planning to reduce resource consumption and time delays. Current spreadsheet-based approaches extend administrative tasks, hinder collaboration and analysis, and impact decision-making. Thus, such organizations are destined to fail to do to a lack of adjustment.
In today’s business planning, spreadsheets and point software have become obsolete, leading to inefficiency, errors, less collaboration, and incoherent management. If you want a strong growth system, centralized plans, solid workflows, budgeting tools, and real-time visibility are the way to go. Oracle’s NetSuite Planning & Budgeting gives you such kind of responsiveness and agility.
Why use next-generation business planning
Business planning and budgeting are strategic factors needed for correct adaptation to market-changing conditions. As to respond quickly, assess new opportunities, and innovate, companies cannot rely on faulty expectations setting, inaccurate financial projections nor fixed budgets. Therefore, you require a better way based on scalability, integration, sophisticated analysis, and other tools.
When you implement a software solution like NetSuite Planning & Budgeting, your business gains:
- Enhanced visibility. This cloud-based platform lets your teams see all the information they need in real-time, displayed in user-friendly dashboards, analytics, and customized formats. This can also promote accountability regarding KPIs.
- Effective decision-making. With this software, you can create easy-to use dashboards in no time. It also has a drag-and-drop option, instant version change, web-based reporting, and added security to enhance the financial process.
- Simplified expenses. When implementing Netsuite Planning & Budgeting, you can budget cost accurately, view department spendings, and identify cost reduction all across the board. Besides, your managers can plan at the summary account level and visualize expenses against budget goals.
- Modern scalability. By using the Hyperion Planning/Essbase platform, you should not worry about the limited functionality of the outdated infrastructure. This all-in-one software gives your business a strong analytical foundation for financial purposes and should be seen as a solution that doesn’t require replacement.
After all, if you have the intention to accelerate growth, a cloud-based application can be the right tool for your business planning. To know more about Netsuite Planning & Budgeting, contact us.