How to Streamline Your Business Analysis with Netsuite Reporting 

May 17, 2024
Man in professional attire holding clipboard with graphs, utilizing Netsuite Reporting for efficient business analysis.

If you're a business owner, you know how important it is to have accurate and up-to-date financial information. Without it, you can't make informed decisions about the future of your company. 

That's where NetSuite reporting comes in. 

NetSuite is a cloud-based business management software that provides a suite of applications to help businesses manage their financials, operations, and customer relations.

NetSuite reporting allows you to easily create custom reports that give you the information you need to make informed decisions. 

Whether you need to see a breakdown of your expenses by department or a summary of your sales by region, NetSuite reporting can help. 

With a variety of pre-built reports and the ability to create your own, you can get the information you need in a format that works for you. 

Plus, with real-time data updates, you can be confident that the information you're seeing is accurate and up-to-date.

What Is NetSuite Reporting?

NetSuite reporting is a powerful tool for monitoring your business’s financial and operational performance. 

With its real-time reporting features, NetSuite eliminates the need for inefficient manual reporting processes, empowering your team with accurate information for better decision-making.

Real-Time Insights and Analytics

NetSuite's reporting capabilities offer real-time insights and analytics, allowing you to track your business performance across multiple departments and teams. 

You can run pre-built reports as is or modify them by setting per-user preferences, selecting per-report viewing options, or defining custom reports in the Report Builder tool.

NetSuite reporting provides real-time insights, and analytics allow you to stay on top of your business performance and make informed decisions quickly. 

You can track your business performance against KPIs, set alerts for specific metrics, and receive notifications when certain thresholds are met.

Financial Management Reporting

NetSuite's financial management reporting capabilities provide the tools you need to manage your financial statements and reports. 

You can generate standard reports, such as balance sheets and income statements, or create custom reports to meet your specific needs.

NetSuite's financial reporting features are automated, allowing you to generate reports quickly and easily. You can also set up automated alerts to notify you of any changes to your financial performance.

Customization and Integration

Building custom reports is a powerful way to get exactly the information you need when it comes to reporting in NetSuite.

With the NetSuite report builder, you can create new reports from scratch, modify existing reports, or create ad hoc reports on the fly. 

This level of customization means you can tailor your reports to your specific needs, whether they’re summary reports for executives or detailed reports for your accounting team.

Building Custom Reports

The NetSuite report builder is a user-friendly tool that allows you to create custom reports quickly and easily. 

You can choose from a wide range of report types, including financial, operational, and CRM reports. 

Once you've selected your report type, you can add fields, filters, and sorting options to create a report that meets your exact specifications.

Role-Based Dashboards and KPIs

Another way to customize your reporting in NetSuite is by creating role-based dashboards and key performance indicators (KPIs). 

Download the Salary Guide to compare average salaries of top NetSuite ERP professionals.

These allow you to create dashboards tailored to specific roles within your organization, such as sales, finance, or operations. 

You can also create KPIs that track important metrics and display them in real-time on your dashboard.

Advanced Reporting Tools

For more advanced reporting needs, NetSuite also offers a variety of tools that allow you to create complex reports and analyze your data in new ways. 

These tools include saved searches, enabling you to save and reuse complex search criteria and report snapshots, which let you save a point-in-time report for future reference.

In addition to these built-in tools, NetSuite offers integration with various third-party reporting and analytics tools. 

This allows you to leverage the power of your existing reporting tools while still taking advantage of NetSuite's robust reporting capabilities.

Overall, NetSuite's reporting capabilities are powerful and flexible. They allow you to create custom reports, dashboards, and KPIs that meet your exact needs. 

Whether you're building new reports from scratch or integrating with existing reporting tools, NetSuite gives you the tools you need to get the most out of your data.

Operational Reporting

NetSuite's operational reporting tools offer a comprehensive solution for businesses that seek to monitor their performance across various departments. 

Whether you are looking to track sales and revenue data, optimize your supply chain, or gain insights into your CRM and ERP data, NetSuite provides the tools you need to make informed decisions.

Sales and Revenue Tracking

NetSuite's operational reporting tools provide real-time visibility into your sales and revenue data. 

You can use the platform to track sales performance across different channels, including e-commerce, brick-and-mortar, and wholesale.

NetSuite's built-in reporting capabilities allow you to generate sales reports that provide insights into sales trends, customer behavior, and revenue growth.

Inventory and Order Management

NetSuite's inventory and order management capabilities are essential for businesses that want to optimize their supply chain and streamline operations. 

With NetSuite's operational reporting tools, you can track inventory levels, monitor order fulfillment, and identify potential bottlenecks in your supply chain. 

You can also generate reports that provide insights into inventory turnover, stock levels, and order processing times.

CRM and ERP Analytics

NetSuite's operational reporting tools allow you to gain insights into your customer relationship management (CRM) and enterprise resource planning (ERP) data. 

You can use the platform to track customer behavior, monitor sales performance, and analyze customer feedback. 

NetSuite's CRM and ERP analytics capabilities enable you to generate reports that provide insights into customer acquisition, retention, and satisfaction.

Industry-Specific Reporting

NetSuite's reporting capabilities are not limited to generic financial and operational reports. 

The software also offers industry-specific reporting, making it a versatile solution for businesses of all sizes and types. 

Here are some examples of industry-specific reporting available in NetSuite:

  1. Retail and E-commerce Insights
  2. Manufacturing and Distribution Metrics
  3. Service Industry Analytics

Retail and E-commerce Insights

NetSuite's retail and e-commerce reporting provides a comprehensive view of your sales, inventory, and customer data. 

This reporting allows you to analyze sales trends, monitor inventory levels, and track customer behavior. 

You can also create custom reports that provide insights into your marketing campaigns, website traffic, and customer acquisition costs. 

This reporting can help you optimize your retail and e-commerce operations and increase your bottom line.

Manufacturing and Distribution Metrics

NetSuite's manufacturing and distribution reporting offers detailed insights into your production and supply chain processes. 

This reporting allows you to monitor inventory levels, track production costs, and analyze supplier performance. 

You can also create custom reports that provide insights into your order fulfillment processes, shipping times, and customer satisfaction rates. 

This reporting can help you optimize manufacturing and distribution operations and improve customer experience.

Service Industry Analysis

NetSuite's service industry reporting provides a detailed analysis of your service operations. 

With this reporting, you can monitor project profitability, track employee utilization rates, and analyze customer satisfaction. 

You can also create custom reports that provide insights into your project pipeline, billable hours, and service delivery times. 

This reporting can help you optimize your service operations and improve your bottom line.

NetSuite's industry-specific reporting is not limited to the above examples. 

The software offers reporting for a wide range of industries, including retail, wholesale distribution, manufacturing, media and publishing, healthcare, professional services, advertising, and digital marketing agencies. 

With NetSuite's industry-specific reporting, you can gain the insights you need to make informed business decisions and stay ahead of the competition.

Conclusion

NetSuite's robust reporting capabilities offer businesses a powerful tool to streamline their financial and operational analysis. With customizable reports, role-based dashboards, and industry-specific metrics, NetSuite allows you to access real-time data and make informed decisions. 

Whether you're monitoring financial performance, tracking sales and inventory, or analyzing customer behavior, NetSuite has the tools to help you stay on top of your business's needs.

Critical components like real-time insights, advanced analytics, and role-based KPIs make it easier to track your business's progress and identify areas for improvement. 

NetSuite's flexibility in customization and integration ensures that you can adapt the platform to your unique business requirements, whether you're in retail, manufacturing, or professional services.

By leveraging NetSuite's comprehensive suite of reporting tools, you can optimize your financial management, improve operational efficiency, and gain a competitive edge in your industry.

If you're ready to streamline your business analysis with NetSuite reporting, book a call with Atticus Solutions. 

Our team of experts can guide you through the process and help you unlock the full potential of NetSuite's reporting capabilities. 

Schedule your free consultation and take the first step towards data-driven decision-making and operational excellence with Atticus Solutions.

Download the Salary Guide to compare average salaries of top NetSuite ERP professionals.

Download the Salary Guide to compare average salaries of top NetSuite ERP professionals.

Frequently Asked Questions

How can I create custom reports in NetSuite?

NetSuite offers several options for creating custom reports. The Report Builder tool allows you to create custom reports with drag-and-drop functionality. 

Alternatively, you can use SuiteAnalytics Workbook to create custom reports with more advanced features. 

You can also use SuiteAnalytics Connect to create custom reports using external reporting tools like Microsoft Excel or Tableau.

How do I use NetSuite Report Builder for advanced reporting?

NetSuite Report Builder is a drag-and-drop tool for creating custom reports. It can create reports with filters, groupings, and subtotals, as well as custom formulas and calculated fields.

How can I improve financial reporting accuracy in NetSuite?

You can use the built-in financial reports that come with NetSuite to improve financial reporting accuracy. 

These reports are pre-built and provide accurate financial information about your business operations. 

You can also create custom financial reports using the Report Builder tool or SuiteAnalytics Workbook.

What are the capabilities of NetSuite's SuiteAnalytics for reporting?

NetSuite's SuiteAnalytics provides a suite of reporting and analytics tools. Some capabilities include real-time reporting, ad-hoc reporting, and drill-down capabilities. 

You can also use SuiteAnalytics to create custom reports with advanced features like pivot tables and charts.

What are the differences between standard and custom reports in NetSuite?

Standard reports in NetSuite are pre-built reports that come with the software. These reports provide basic information about your business operations. 

Conversely, custom reports are reports you create yourself using the Report Builder tool or SuiteAnalytics Workbook. Custom reports provide more detailed and specific information about your business operations.

What tools are available for visual analytics and dashboard reporting in NetSuite?

NetSuite offers several tools for visual analytics and dashboard reporting. You can use SuiteAnalytics Workbook to create custom dashboards with charts, graphs, and other visual elements. 

You can also use SuiteAnalytics Connect to create custom dashboards in external reporting tools like Microsoft Excel or Tableau. 

Additionally, NetSuite offers SuiteAnalytics Portlets, which provide real-time updates on key performance indicators.

SALARY GUIDE EBOOK

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