Within the next year, NetSuite will make its Enterprise Performance Management offering available in North America.
EPM unites planning, budgeting, forecasting, account reconciliation, financial close and reporting processes across the organization for better business visibility, decision-making and growth, according to the vendor.
EPM adds planning and budgeting features for finding trends, anomalies and correlations. Narrative reporting capabilities allow- finance employees to collaborate in a central space to add context to financial data, management reports and regulatory reports. And tax provisioning and compliance options within EPM can centralize all tax-related tasks to a dashboard and help divide up responsibilities and prioritize tasks.
EPM includes capabilities from NetSuite Account Reconciliation, launched in July to improve the close process and automate financial data aggregation tests.
NetSuite will continue to sell a separate Planning and Budgeting offering and Account Reconciliation offering along with including the products as part of EPM, according to the vendor.
NetSuite built EPM on the foundation of Oracle’s own Fusion Cloud EPM, according to the vendor.