Automate Finance, Budget, and Resources Management with NetSuite for PSUs

Summary:  This article throws light on the core capabilities of a business management software solution, NetSuite for the Public Sector, and the way automation can help an organization in such a sector drive more efficiency than ever, gain productivity, and improve key operations.

NetSuite ERP for Government 

NetSuite for Government is a cloud-based enterprise resource planning (ERP), an extensively orchestrated business management software solution for public-sector organizations, including government agencies and organizations. 

Why NetSuite for Government? 

• EASY-TO-USE ERP: For the most part, NetSuite ERP for Government is an intuitive, inventive, easy-to-use, secure, scalable, and adaptable application structured for all roles across the organization. Additionally, it is accessible via any mobile device at any time and offers intuitive processes, a single source of data, built-in business intelligence capabilities, and real-time, actionable insights into key performance indicators.
• DATA SECURITY: NetSuite for Public Sector keeps the data of an organization in the public sector safe in the cloud with round-the-clock monitoring. Additionally, connecting to an expert can assist a PSU with and dedicated security teams backed by advanced tools, controls, and policies.
• EXPEDITED DEPLOYMENT: PSUs can experience a fast, extensive, optimized implementation with an ERP configured specifically for the industry. For the most part, NetSuite ERP for Government delivers extensive capabilities—Right from project management to training, data migration, and support.
• IMPROVED PRODUCTIVITY: With a cloud-based ERP solution like NetSuite for PSUs, business organizations in the public sector can bid farewell to expensive and inflexible legacy, conventional, or on-premises systems. For the most part, NetSuite ERP for Government renders high availability, increased productivity, and reduced cost of ownership.

Features: NetSuite for PSUs  

• KPIs and Dashboards

  • Role-Based Metrics, KPIs, and Dashboards: NetSuite for Government comes with embedded analytics and delivers meaningful operational and financial insights into the business organization’s performance across all the departments and teams.

• Requisitions and Procurement

  • Real-Time Tracking: Administrators can see the real-time status of all procure-to-pay processes including encumbrances, requisitions, and budget reporting.
  • Purchasing Compliance: NetSuite for Public Sector helps create approval workflows customizable to fit in business’s needs. These workflows may be based on roles, departments, or other criteria and extensively configured to include multiple approval levels.
  • Transaction Lifecycle Management: You can generate purchase orders directly from requisitions and process multiple purchase orders from one requisition, or bundle multiple requisitions into a single purchase order.

• Core Fund Accounting

  • Finance and Accounting: NetSuite ERP for Government delivers a comprehensive accounting solution including a general ledger, accounts receivable, accounts payable, cash management, statistical accounting, allocation schedules, and real-time financial reporting.
  • Compliance Management: Administrators can consolidate all processes in one, single system complying with Governmental Accounting Standards.
  • Workflow Management: You can drive extensive automation across financial processes and drive more productivity than ever with approval routing workflows.
  • Grant and Project Management: Comprehensive fund accounting available with NetSuite for Government helps teams in the PSUs efficiently and transparently manage fund restrictions to meet project and grant requirements.

• Human Capital Management

  • HR and Payroll with Financials: Business organizations can eliminate third-party integrations, improve data accuracy, and establish a more engaging workforce experience. The deployment of NetSuite for Public Sector can help administrators make better-informed decisions to more efficiently align workforce performance with organizational objectives.

• Planning and Budgeting

  • Planning and Budgeting: By leveraging the core capabilities of NetSuite ERP for Government, your finance teams can easily produce budgets and forecasts, model what-if business scenarios, and create reports. Most interestingly, you can do so within one collaborative, scalable, and adaptable solution.
  • Change Management: Business administrators can adjust budgets easily and quickly in response to changing and evolving economic conditions or legislative mandates.

Key Steps to Strategize Business Growth with an ERP 

• Comprehend A Business Case: The business case should highlight ways and steps to drive extensive efficiencies and render better experiences than ever for constituents and employees. 
• Leading with Business Strategy: Prioritizing business process improvements helps make strategic decisions across addressing customization, cloud adoption, and implementation processes.  
• Architecture Roadmap: Business heads must determine the core ERP system that best fits and identifies specialized point applications to support it. For the most part, prioritizing incremental initiatives and defining the cloud migration approach, procurement steps, and scope helps structure the architecture roadmap.  
• Cyber Risk Management: When you evaluate cloud-based options, you should start from a risk-centered perspective.
  It includes evaluating government operations most vulnerable to cyber risks and comprehending new features in cloud-based ERP solutions providing additional security functionality 
• Program Governance: Creating an ERP project management organization chartered with establishing governance provides standardized processes and tools for project management, software evaluation and procurement, change management, data governance, and cloud governance.

Businesses leveraging NetSuite ERP for PSUs can address critical success elements, make the right strategy and roadmap aligned to unique needs, and drive Digital Transformation across all operations without a hitch

Why inoday?  

At inoday, an official, #1 ORACLE NetSuite Channel Partner, business organizations in the public sector can connect to our Certified NetSuite Consultants and avail of an inventive business management solution to streamline tedious operations run by PSUs. Our experts deliver 16+ years of experience in driving Digital Transformation via Cloud Computing Solutions, a proven methodology, rich expertise, a deep knowledge of the product, and leading practices to help PSUs enhance productivity and efficiency. Moreover, our experts prioritize customer support service and elevate their experience within extensive availability for 24 hours a day and seven days a week. 

For more details, write to us at info@inoday.com Or Schedule A Demo