To help companies make more strategic cash decisions and improve forecasting, Oracle NetSuite announced Oracle NetSuite Cash 360.
“Integrated into NetSuite, Cash 360 enables customers to effectively manage cash flow by providing a real-time view of their cash position and the ability to generate quick and accurate short-term forecasts. Cash 360 also simplifies cash management providing a configurable dashboard that can include links to key treasury management activities, displaying task reminders, current cash balance, accounts payable and receivable balances, cash flow trends and a six-month cash flow forecast,” said Gary Wiessinger, senior vice president of product management for Oracle NetSuite.
The executive noted that Cash 360 is an automated solution integrated into NetSuite, which improves forecast accuracy and saves finance departments time by directly accessing NetSuite data. “With Cash 360, NetSuite customers can benefit from a simplified and accelerated cash flow forecasting process to give them greater confidence in their financial decision making,” pointing to features such as:
Cash management: A new dashboard that can monitor accounts receivable, accounts payable and cash on hand in real time to help customers improve cash flow visibility. “Clients can review current cash flow trends and a six-month cash flow forecast to enable more informed decision making,” explained the executive. Cash Flow Forecast: A new tool that helps customers clients develop more accurate forecasts by incorporating multiple data points – such as funding sources, planned expenses, sales forecasts and billing schedules – and applying historical averages to current AR and AP transaction data to estimate collections and disbursements.” The configurable solution enables clients to incorporate one-time cash inflows and outflows, such as financing or equity investments, into the forecasting process, allowing them to project their cash needs and assess the liquidity position of your company,” Wiessinger said.
“The combination of Oracle NetSuite Cash 360 with other NetSuite capabilities, such as billing automation, bank reconciliation, budget validation and approval workflows, offers companies greater accounting efficiency, greater control of cash inflows and outflows and more flexibility when making financial decisions”, concluded the executive.
NetSuite Project 360 for project managers
Oracle NetSuite also announced a new dashboard within NetSuite SuiteProjects to help service companies effectively manage projects for their clients. “Oracle NetSuite Project 360 provides a centralized view of key metrics, reports, status and resources, from across SuiteProjects to give project managers greater insight into vital project information. This helps project managers minimize the administrative tasks and to quickly identify projects that need attention and take appropriate corrective action,” said Gary Wiessinger, senior vice president of product management for Oracle NetSuite.
According to the executive, Project 360 enhances NetSuite SuiteProjects, which combines customer relationship management (CRM), human resources, and accounting/enterprise resource planning (ERP), to offer customers a complete platform to manage a service business.
“You can bring data from all SuiteProjects together in a single dashboard, giving clients a centralized view of vital project information and allowing them to easily monitor KPIs. You can also reduce administrative time by giving project managers access to navigate to specific areas of projects from a localized workspace,” said Wiessinger, adding that with Project 360, project managers can streamline:
Project Budget Analysis: Helps project managers understand if there is enough budget left to complete a project by analyzing spending and allocation. In addition, Project Forecast at Completion (EAC) estimation helps to calculate if the project will be delivered within the original budget. Project Invoicing: Helps project managers to rectify and send invoices when necessary, since it allows to visualize how much the customer can currently be billed and what remains to be billed.Project Profitability: Helps project managers determine if a project is achieving the desired profitability based on recognized revenue and total costs to date.Project Resources : Helps project managers understand the resources dedicated to a project by providing a “social view” (names and photos) of the project team, a Gantt chart visualization of the project, and a view of how much time each resource has spent vs. to the total for each task. Project Health and Status: Helps project managers quickly and easily access specific information. information on the health and status of the project, including billing and revenue, budgets, resourcing and planning, and financial data. Client Information: Provides project managers with an initial synopsis of the client and surfaces with contact information and customer data.