Manage your core business process with a single, fully integrated system while allowing flexibility in a changing business environment saving costs, managing risks, driving productivity and managing compliance- thus allowing you to grow your business.
TRUSTED BY MORE THAN 30,000 ORGANIZATIONS
Built to run a business, not just manage financials.
Increase efficiency and maintain a cost-effective organization while keeping pace with fast-growing revenue.
There are four key advantages of NetSuite that appeal to CFOs. First, it is a unified system that spans across commerce, CRM, and operational management, which allows you to automate transactions and minimize manual transactional processing. Second, this unified system helps foster a single source of truth across business functions to normalize performance measurement. Third, NetSuite helps satisfy your compliance with accounting standards and local taxation regulation. From revenue recognition solutions to a simplified international consolidation and reporting translation process, NetSuite mitigates the manual spreadsheet work many business face. Fourth, NetSuite will scale with your company from start-up to a multinational public company.
Your ecosystem is just as important as your core business system so NetSuite makes your communication with an e-commerce system, CRM, 3PL, warehouse, or suppliers seamless and automated and at Squire we understand the need to put in place a system that will generate an appropriate impact to your GL.
NetSuite Benefits for CFO
Single Source of Truth
Compliance and Internationalization
One Cloud Solution For your Entire Business
A common challenge for CFOs is to support performance measurement processes that allow consistency in the data across the organization and functional areas from leader to leader. NetSuite delivers accounting/Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Professional Services Automation (PSA) and ecommerce—in a single software instance, which allows interoperability across business functions without the need for synchronization across disparate business systems.
In a traditional ERP environment where the e-commerce, CRM, and Accounting are independent business systems, there is an administrative burden to keep all the systems in sync. As an example, separate customer records are often found in the e-commerce, CRM, and Accounting systems. NetSuite’s advantage is that it brings these functions under one roof and allows a single customer record to be managed across functions.
When there is a need to use disparate systems, we want to make sure they are in sync and communicating in a seamless way. At Squire, we make sure all your systems are talking to each other in a way that will satisfy your operational requirements as well as your accounting requirements across functional areas.
International Functionality and GAAP Standards
Because NetSuite operates all entities in a single database, there is no need to do a multi-database consolidation of general ledgers and ensure all disparate chart of accounts are in sync and mapped properly. NetSuite has a global chart of accounts (although configurable for international operations) that allows for automatic financial currency translation and consolidation across entities.
Additionally, NetSuite supports intercompany journal entries, intercompany transactions and auto-elimination, multi-currency, and a global inventory listing. NetSuite is also built to support GAAP compliance across most industries. NetSuite’s advanced revenue recognition functionality complies with the latest revenue recognition standards and is configurable to your company’s needs.