Financial Systems

NetSuite SuiteAnalytics: Leveraging Built-In BI

While NetSuite has long been a leader in embedded analytics, Oracle clearly recognized the need for more robust reporting and analytics tools. As a proxy to and an improvement upon other third-party, plug-in solutions, Oracle developed its own solution natively embedded within its already industry-leading ERP. Netsuite SuiteAnalytics is a built-in analytics and reporting package developed from the ground up, incorporating a user-friendly orientation and customer-focused design.

SuiteAnalytics answers the need for solutions to enable customers to drive actionable analysis to support critical decision making, business process enforcement, and meaningful insight into company performance.

Eliminate the Time and Expense of BI Software Selection and Implementation

By embedding SuiteAnalytics within Netsuite at no additional cost, the need to invest time and money from IT, programming, or developmental budgets on the selection and implementation of a third-party system has been eliminated. As a built-in solution, data integration is not a concern, and adding charts, graphs, and other data visualization metrics onto the dashboard is done with ease and minimal training. The self-serve personalized experience benefits users by providing easy-to-use reporting tools, without programming or technical resources.

3 Key Benefits of NetSuite SuiteAnalytics

The three key benefits SuiteAnalytics provides are personalized real-time dashboards, complete self-service reporting, and industry-leading analytics on the go. Although NetSuite focuses primarily on these three attributes, SuiteAnalytics has many additional features that should provide tremendous value to its customers.

1. Real-Time Dashboards

SuiteAnalytics has a very user-friendly interface with easy-to-use search and reporting tools. The user’s dashboard can be personalized in any number of ways, based on that user’s priorities, responsibilities, business unit, or any other segmentation they might see fit. Some of these variables include metrics, graphs, pivot tables, or any number of eye-catching analytics that can help drive decisions and summarize certain aspects of performance. These are captured in real-time, and at no additional cost whatsoever.   

2. Self-Serve Reporting

Through the malleable SuiteAnalytics dashboard, organizations can easily build and monitor key performance indicators, create actionable lists, and search analytics to maximize productivity. These more dynamic KPIs can provide real-time, actionable information to users, and increase an organization’s awareness and agility in response to change. 

Furthermore, the embedded dashboard and custom applications help end-users identify key business issues with increased speed, summarizing important metrics and allowing users to drill down into more detailed data in a matter of a few clicks. Providing these solutions natively allows customers to avoid the complexities of working with separate reporting tools, data integration, and data warehousing. This is NetSuite’s notion of “analytics on-the-go” – high-level summary metrics that can prompt actionable management decisions.

3. Accessible, Best-in-Class Analytics

SuiteAnalytics also provides benefits for non-technical users with its dashboard accessibility. The entire interface has been built to be more consumer oriented, with ease-of-use being prioritized in the design process. For instance, users can drag-and-drop, utilize filters or conduct simple searches to enable new dashboard metrics. Similarly, the dashboard provides rich visualizations, formatting, charting, and layouts that help deliver insights that are not only real-time and more accurate, but also easier to understand across the organization. This dynamic interaction with live data makes these dashboards powerful tools with instant previews upon setup, allowing users to assess the value of a metric before committing it to their dashboard. 

Having this level of data summarization and visualization flexibility can transform the speed with which organizations process and evaluate information. Once certain metrics are identified as integral, these can be monitored constantly, easily, and accurately, ensuring their prominence in decision making.

Built-in “Single Version of the Truth”

In all, SuiteAnalytics is a game-changing analytics package built into an already industry-leading ERP solution. While the use of these features, and resulting decision-making is incumbent upon the organization itself, users have not previously had the benefit of such powerful analytics tools built into their everyday ERP.

SuiteAnalytics delivers a “single version of the truth” – single-source data that, combined with visual analytics helps generate meaningful, timely, and actionable insights, which are key to every organization’s success. It also provides real-time transparency, allowing users to see company performance across all business functions, from summary level insights to transaction level data.

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If you’re looking to make the most of your financial systems selection, implementation, or usage, we invite you to visit our service page to learn more about how we can help. You can also contact 8020 Consulting directly for more information.

About Our Financial Systems Solutions

About the Author

Chris has 10+ years of finance and accounting experience across multiple industries with firms of varying size, from start-up environments to public companies. Chris has managed departments, created both finance and accounting processes, implemented new systems and controls, and built top-notch teams. His expertise includes management, strategy, forecasting, budgeting, FP&A, month-end close, M&A, pre-merger diligence, post-merger integration, valuation, and process improvement. Passionate about streamlining and optimizing strategic finance decisions, Chris has developed an expertise in areas of process development and re-engineering, systems integration, as well as having been involved in several public acquisitions. Prior to joining 8020, he was a finance manager at Stamps.com, a public company. Chris holds a B.S. in Finance from Santa Clara University, with minors in Creative Writing and Music Theory, and is currently pursuing his MBA from the University of Southern California’s Marshall School of Business.

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