I had the opportunity for a demonstration of Net Suite Enterprise Performance Management (EPM). This tool consolidates planning, budgeting, forecasting, account reconciliation, financial close, and reporting processes across the entire organization. The EPM tool improves speed and accuracy of financial processes as well as provides key insights to facilitate decision-making.
The EPM tool improves speed and accuracy of financial processes as well as provides key insights to facilitate decision-making.
CFOs with the following scenarios may find EPM to be an especially useful addition to their Finance tech stack:
- Data and reporting from multiple ERPs
- Requirement for multiple hierarchy reporting-legal, tax, etc.
- Frequent M&A activity
- Reporting for partial ownership structures-joint ventures, minority interest, etc.
- Seeking integrated close and task management automation
EPM facilitates the brining together of both financial and operational data across the organization to improve accuracy and access. Using this process, the finance function can connect budgeting, forecasting, and reporting processes to garner insights and improve decision making. Overall, the tool simplifies the close process using month-end close tasks and checklists to aid the process. As with other modules, workflow is roles based. Task management allows for improved efficiency, accuracy, and collaboration.
Using this process, the finance function can connect budgeting, forecasting, and reporting processes to garner insights and improve decision making.
Greater insights are available through KPIs, dashboards, and reports. Users can utilize dynamic reports, dashboards, forms, etc. in the solution and distribute through report books. They can be sent out in pdf, Excel, or HTML formats.
Data can come from a variety of sources with no data integration limits. There is no need for a 3rd party data integration tool. If you would like to chat about how Finance Digital transformation can improve your business, give us a call.