NetSuite launches Enterprise Performance Management for EMEA businesses

Oracle NetSuite has announced the launch of its Enterprise Performance Management (EPM) solution for businesses in Europe, the Middle East, and Africa. NetSuite EPM is designed to help companies increase productivity, profitability, and efficiency by unifying financial and operational planning processes.

The new unified finance solution connects financial and operational planning, automates account reconciliation, streamlines the financial close process, and supports local tax reporting standards.

“Finance teams that rely on manual, disconnected processes spend too much time fixing spreadsheets instead of driving the business forward,” said Evan Goldberg, founder and EVP of Oracle NetSuite. “By automating critical financial processes, NetSuite EPM creates new efficiencies and provides insights to focus on profitability and growth.”

NetSuite EPM is built on Oracle’s Fusion Cloud Enterprise Performance Management platform and integrates seamlessly with NetSuite’s core products. The key components now available in EMEA include:

• Planning and Budgeting – Automates planning, budgeting, forecasting, and reporting with AI-powered analysis and predictive modelling capabilities. It can also support sustainability reporting.
• Account Reconciliation – Streamlines reconciliation for accounts payable, receivable, bank transactions and more to increase accuracy and speed up the close process.
• Profitability and Cost Management – Provides deeper understanding of profitability by customer, product and business segment.
• Narrative Reporting – Allows teams to collaborate on contextualizing financial data in management reports.
• Corporate Tax Reporting – Simplifies tax reporting for multinational companies to comply with OECD standards.

Customer success stories

 Veracyte is a global diagnostics company with operations in France and Israel that empowers clinicians with the high-value insights they need to guide patients at pivotal moments in the race to diagnose and treat cancer. To plan for multiple scenarios and make more informed business decisions based on real-time data and accurate forecasts, Veracyte is leveraging NetSuite Planning and Budgeting.

“With NetSuite Planning and Budgeting, we’ve been able to effectively manage our financial planning and forecasting processes,” said Cassandra Cardenas, Financial Systems Senior Manager, Veracyte.

“The ability to run rolling forecasts has helped us stay on top of our financial performance by allowing us to quickly adapt to unexpected changes to our business. With a heightened demand and growing workforce, NetSuite Planning and Budgeting has been key to ensuring we can continue to deliver our services to those who need them most.”

 Based in Ireland, Keywords Studios provides creative services to the global video games industry and has more than 13,000 team members in 26 countries. To help increase operational efficiencies and scale its business, Keywords Studios selected NetSuite Account Reconciliation.

“Keywords Studios, with its global footprint and diverse service offerings in the gaming and tech industries, selected NetSuite Account Reconciliation for its ability to streamline complex financial processes across multiple currencies and regulatory environments,” said Marc Quinlan, Director of Finance Transformation, Keywords Studios.

“We chose NetSuite to enhance automation and real-time data visibility, helping to significantly reduce manual errors and boost operational efficiency. NetSuite Account Reconciliation helps ensures our compliance by using international standards and simplifies the reconciliation process, enabling Keywords Studios to focus on operational excellence and strategic expansion without compromising on financial accuracy and control.”

 NetSuite EPM will roll out to Belgium, Denmark, Finland, France, Germany, Ireland, Israel, Netherlands, Norway, Spain, Sweden, Central and Eastern Europe, and Africa over the course of 2024.

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