If your company uses NetSuite, you already have a strong foundation in place for your financial reporting needs. However, as companies grow, their data volumes become larger and more complex. As a result, these businesses can start to face obstacles related to data consolidation, accessibility and visualization.
Because of that, making an effort to build on native NetSuite reporting capabilities can pay off in a big way for expanding businesses. In this article, we’ll look at five signs that can indicate that you need a unified solution like the Zone Data Platform for NetSuite reporting.
Sign #1: Your team spends hours on manual data consolidation
Extracting and combining data from NetSuite and other sources can consume huge amounts of time and resources. If your workers take this approach to data consolidation, they’ll have to deal with a long ETL process and wait for data updates/report processing. On top of that, these processes inevitably don’t scale well, and they will become even more expensive and inefficient as you grow.
On the other hand, adopting an automated approach to data consolidation can take NetSuite’s already strong data processes to the next level. For example, NetSuite’s SuiteAnalytics Connect feature is excellent at helping companies work with static data, but ERP data is constantly changing. When you can fetch dynamic data access ready-to-analyze datasets from NetSuite, and leverage customizable Microsoft Power BI reports and beyond through Zone Data Warehouse, you can make your reporting workflow more convenient and efficient than ever before.
Zone’s streamlined approach to data consolidation can also help you:
- Decide where your data is going. With Tactical Connect, you can export NetSuite data as a CSV file to OneDrive, Azure Blob, SharePoint or another storage service.
- Cut down on data preparation time. Our automated processes can reduce the time your team spends on data preparation by up to 99%.
- Focus on data analysis. When you don’t have to waste hours collecting, consolidating and transforming data, you can spend more time putting this information to good use.
- Access live NetSuite data. Thanks to Zone Data Warehouse’s 99.9% uptime, you’ll always have the ability to check live NetSuite data anytime.
Sign #2: You have a growing need for real-time analytics
These days, the business world is more fast-paced and competitive than ever before – which means no company can afford to rely on outdated information while charting a course for its future. Instead, your business needs real-time insights to stay ahead of the competition.
If your company has had trouble accessing this data lately, it may be time to put the Zone Data Platform to use. ZoneReporting visualizes data across multiple sources in the form of Power BI dashboards. If your teams would rather use Excel, Zone’s Excel extension Solution 7 can help you set up auto-updating FP&A reports in this environment (complete with drill-back to NetSuite).
When your business adopts tools like these, you can effectively eliminate the risk of making crucial decisions based on obsolete data. As a result, you’ll dramatically increase your odds of making smart choices for your company’s future.
Sign #3: Multiple stakeholders need different reports or views of the same data
Your business’s reporting strategy should provide data-driven information to key stakeholders, but not everyone in your organization needs to see the same statistics. CFOs, analysts, controllers and other stakeholders all have different data analysis priorities. And even if you only need to share one data set, this info may need to be presented differently across various departments.
The good news is that the Zone Data Platform can help you create a wide variety of reports. With an ERP extension like ZoneReporting, you can generate over 100 customizable Power BI reports, including financial reporting, supply chain management, CRM, project management and SaaS packages. Meanwhile, Solution 7 simplifies the process of creating powerful reports in Excel.
Thanks to flexible reporting options like these, everyone in your organization will be able to access the information they need without getting IT involved. Additionally, your stakeholders will have self-service access to tailored dashboards in Power BI – and your own team will spend far less time on report creation.
Sign #4: Your data is stored across multiple systems and tools
These days, companies rely on all sorts of programs on a daily basis. Because of that, there’s a good chance that the data you need to analyze exists across multiple tools. If your business’s various systems can’t work seamlessly with NetSuite, this situation could make your reporting process much more complicated than it needs to be – especially if reconciliation is being handled manually.
Fortunately, Zone Data Warehouse ingests and processes 100% of your NetSuite data at transaction line granularity. With six billion rows of customer data and 99.9% uptime, your company will have the storage required to effortlessly scale along with access to complete and up-to-date information any time it’s required. Combined with ZoneReporting’s 350 supported connections to data sources like HubSpot and Salesforce, your stakeholders will enjoy a much more comprehensive view of the business.
Sign #5: You need advanced, flexible visualization tools
Demand for data access through interactive dashboards is currently on the rise, but not all of these tools are the right fit for every department that needs this data. While some teams at your company may want to access dashboards through Power BI, others might prefer to use Excel for this purpose.
To keep everyone happy, the Zone Data Platform provides as much flexibility as possible to users. With ZoneReporting, it’s easy to integrate NetSuite reporting with Power BI. Meanwhile, your team will be able to access live data reports with drill-back functionality to NetSuite thanks to Solution 7’s two-way Excel integration. And if that wasn’t enough, Tactical Connect allows businesses to export and access their raw NetSuite data.
When everyone in your organization can use advanced reporting to access data with programs they’re already familiar with, you’ll find it much easier to keep everyone on the same page – improving accessibility and accuracy in the process. Your company’s team members will also be able to use Power BI’s built-in AI capabilities to query reports and get more information.
How the Zone Data Platform helps companies scale data capabilities
Not every enterprise data solution on the market can solve each of the problems discussed in this article. But with the help of the Zone Data Platform, your company will be able to:
- Consolidate data more quickly than ever
- Stay current with twice-daily updates
- Generate multiple reports for various stakeholders
- Combine data from multiple systems
- Access interactive dashboards with ease
If you want a complementary solution that can add capabilities like these to your NetSuite reporting experience, Zone & Co’s Zone Data Platform is here for you. Learn more by watching our webinar about this platform or requesting a demo today!
