The Smart Moneyâ€™s on These Finance Sessions at SuiteWorld20
Posted by Barney Beal, Content Director
From its very beginning more than 20 years ago, NetSuite has provided finance professionals, along with other business leaders, with a single, cloud-based solution for transactions, real-time visibility and compliance. And now, in its 10th year, SuiteWorld will offer finance teams a broad array of opportunities to learn more about those capabilities, including new features and functionality, expand their skillsets and extend their careers.
Financial transactions are at the core of the NetSuite cloud ERP product and make up the bulk of the more than 200 sessions at SuiteWorld, which is being held April 20-23, returning to the Sands Expo and Convention Center in Las Vegas. There are 89 sessions at SuiteWorld 20 covering financials and OneWorld. These are targeted toward finance professionals across all levels of NetSuite experience and spanning multiple disciplines. Each session promises front-line advice, technical expertise and valuable insights, but here are some of the core sessions finance pros should consider.
New to NetSuiteÂ
For those just getting started, Tips and Tricks for New NetSuite Users is always a valuable starting point. The fast-moving session offers 40 tips for newer users. For the more experienced and those running international operations, Thursdayâ€™s How to Maintain and Organize your Global General Ledger emphasizes current and future NetSuite features that will help finance pros grow their business around the world while maintaining a lean and effective operation.
Getting More out of NetSuite
The Ask the Experts sessions continue to be a staple at SuiteWorld, and Wednesdayâ€™s session, Ask the Experts: Meet the Financials Product Team offers a unique opportunity to meet the NetSuite Financials, SuitePeople and NetSuite Planning and Budgeting product management teams and ask questions. Attendees can ask product managers questions about current financials capabilities, future plans and developments.
Similar to its younger cousin,Â Tips & Tricks for NetSuite UsersÂ will, on Thursday, provide 40 tips for NetSuite users in a fast-moving session. On Wednesday, in Automating Your Businessâ€™s Cash Management Process with NetSuite, attendees can learn about the innovative Bank Feeds SuiteApp, the newest automated capability in NetSuiteâ€™s bank reconciliation functionality. The new Bank Feeds SuiteApp provides daily updated cash balances to help monitor and manage cash flow with better accuracy and predictability. Attendees will learn how to automatically import banking transactions and account balances from hundreds of banks and financial institutions directly into their NetSuite accounts, eliminating the need to manually import bank files.
Planning and Budgeting
The NetSuite journey for Edgewood Companies, a real estate firm, began when it implemented SuiteSuccess Starter to improve financial reporting processes. To provide trend-based planning and operational reporting, the company then expanded its suite with NetSuite Planning and Budgeting. It will detail that experience on Thursday at the Expanding the Suite with NetSuite Planning and Budgeting session.Â On Tuesday, another Planning and Budgeting customer, Neutrona, will explain how a fast -growing, award-winning, multinational high-tech company customized NetSuite Planning and Budgeting to provide accurate reporting, dashboarding, and forecasting that supports business expansion at How Neutrona Took Budgeting, Forecasting and Reporting to the Next Level.
Employees represent the largest cost to most companies, and using external payroll products and GL imports often leads to expensive integrations, incomplete data or just not enough detail. On Tuesday, NetSuite customer, R.A. Miller Industries Inc., will explain how it is using SuitePeople U.S. Payroll to reduce the cost of running payroll with a more efficient process at Increasing Operational Efficiency with SuitePeople U.S. Payroll. Attendees will learn how SuitePeople U.S. Payroll, eliminates the need for manually importing payroll data while providing much more detail. With recommended payroll batches and batch previews, the time to process payroll is greatly reduced and accuracy is more achievable.
On Wednesday in the Investing in People for Outstanding Customer Experiences session, PropLogix, a real-estate property intelligence company, will share how it expanded its NetSuite investment beyond financials to include NetSuite SuitePeople and SuitePeople U.S. Payroll, which provide a scalable solution for managing and paying employees. Presenters will show how SuitePeople helped PropLogix grow from 10 employees to more than 200 within five years and describe the real ROI and savings the company experienced by replacing leaky payroll vendors with a unified solution.
Reporting & Analytics
SuiteAnalytics Workbooks offers powerful reporting capabilities for finance. In the Leverage the Power of SuiteAnalytics Workbooks session, attendees will learn how to leverage sample workbooks, share workbooks and create a new workbook. They will also learn how to build data sets and create pivot tables and charts that will bring data to life for easier consumption and better decision making. NetSuite customer RealWear will share how the company used SuiteAnalytics Workbooks to analyze SuitePeople HR information, improving financial reporting.
On Tuesday in Take Your Reporting to the Next Level: Automating Custom Reporting & Searches, attendees can learn how to create a custom report, including how to decide whether to start with a standard report or design their own from the ground up. Presenters will explore the differences between saved searches and reports, and show how to set up automatic report generation and email distribution lists.
For more experienced staff, Report Customization: Deep Dive into the Trial Balance, on Tuesday, will show how the NetSuite Trial Balance report provides an easy way to view all general ledger accounts in one place without having to rely on financial statements.
Compliance & Security Controls
A fundamental element of internal control is segregation of duties (SOD), the idea that no employee should be in a position to both commit and then conceal errors or fraud in the normal course of his or her duties. In It Takes Two to Tango: Preventing Fraud by Segregating Duties on Thursday, presenters will share real-life examples from NetSuite users and industry experts on the best practices for analyzing a company’s SOD and related NetSuite access controls.
Well-designed security and controls can set a company up for future success. In the Wednesday session Foundations of Security and Controls: Enabling Growth and Scalability, attendees can gain foundational good practices for logical access and controls, which are not only required from a regulatory perspective, but are also useful guardrails that drive consistency and quality as an organization grows.