NetSuite for
Financial Services

As we move more and more towards a digital world, financial services firms must adapt to these changes to avoid losing customers and market share.  

Adopting a cloud-based ERP system such as NetSuite, offers a wide range of powerful business intelligence (BI) tools in a single platform, to manage finances, budgeting and forecasting, customer relationships, procurement, and employees. It provides an affordable and scalable solution for financial services organizations, automating key processes, and delivering a fully integrated solution that connects with trading platforms, finance, sales, and service operations. It gives firms the confidence that client data is secure and that they will have the capabilities to manage multiple subsidiaries and legal entities as they grow, whilst remaining efficient and compliant with regulatory requirements. 

1. Streamline compliance and regulatory reporting_

NetSuite automates financial processes, has built-in controls for global compliance standards, and provides full audit trails to help you effectively manage risk. Be confident that your system is always up-to-date with an ERP that automatically upgrades to adhere to the latest regulations while staying compliant with the local regulations thanks to handling global currency, tax, and reporting requirements. Streamline month-end close, consolidation, and financial reporting processes, with customized reports that facilitate compliance monitoring and reporting, and gain tighter internal compliance with budget and spending limits. 


2. Enhanced Data Security and Efficient Client Data Management_

NetSuite boasts strong security measures, leveraging industry-standard encryption protocols to secure the transmission of payments and sensitive data. In addition, regular security audits, software updates, two-factor authentication, and role-based access controls not only ensure customer data is secure but are also vital for maintaining client trust.  


3. Integration with Third-party Systems_

NetSuite has extensive integration capabilities, allowing financial services firms to connect their financial management system with other critical systems such as trading platforms, CRM systems, and reporting tools. Integrating with various payment gateway providers, NetSuite ensures you can securely accept a wide range of electronic payment methods, including credit cards, debit cards, and electronic funds transfers (EFTs). 


4. Real-time Analytics and Business Insights_

NetSuite provides real-time visibility into financial performance, client portfolios, market trends, and tailored reports that integrate key metrics and KPIs with both financial and operational data. These insights are crucial for informed and often time-sensitive decision-making and help financial services firms stay competitive in a dynamic financial landscape. With NetSuite Human Capital Management (HCM), organizations can effectively maximize the value of their workforce, and leverage data to inform HR decisions and optimize organizational performance. 


5. Grow your client base_

Deliver exceptional service and value to clients, manage the sales cycle, and create loyal customers with advanced CRM functionality. NetSuite provides a centralized view of customer information and interactions across all branches and divisions. It integrates with finance features and modules that give deeper insights into customer financial needs and behaviors that allow you to provide a more proactive and personalized service that fosters client relationships.  


6. Streamline operational processes_

NetSuite helps streamline various operational processes within financial service firms, from client onboarding to transaction processing and reporting. Automate routine processes in both the front and back office, such as purchasing, revenue recognition, and sales cycles from lead generation to deal closure, through efficient lead tracking and workflow automation 


7. Integrated budgeting and forecasting_

NetSuite provides financial service providers with powerful tools for planning, budgeting, and forecasting, enabling them to ensure financial stability and drive growth. By consolidating budget estimates and actuals, along with rolling 12-month forecasts that enable comparisons between projected and actual results, NetSuite facilitates accurate financial tracking and decision-making. Additionally, NetSuite enables the creation of driver-based plans through repeatable data entry sheets, formulas, and allocation methods, providing a structured approach to financial planning and analysis.  


8. Financial Management_

NetSuite helps financial service providers manage finances through several key features. Firstly, it facilitates the tracking and reporting of fixed asset book value depreciation, ensuring compliance and accurate financial statements. Secondly, the platform helps manage workflows and provides financial visibility with precise reports, enabling better decision-making and operational efficiency. Additionally, NetSuite offers specialized modules tailored for financial services, such as Financial Management and portfolio reporting. These modules support complex financial operations, including portfolio management and multi-entity financial consolidation. Lastly, NetSuite enables quick and accurate book closures and financial report compilation, saving time and ensuring regulatory compliance. 



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