NetSuite forms partnership to optimize employee data

March 22, 2016
Posted in Intacct
March 22, 2016 TM Group

NetSuite forms partnership to optimize employee data

A NetSuite partnership makes payroll data a part of complete business visibility.

Companies implement business software solutions when they want to see how datasets interact with each other. A centralized information system can display how the success of one company department affects the operations of another. As technology improves, managers and decision makers can drill down deeper to find correlations and opportunities they hadn’t contemplated before.

NetSuite constantly updates its software to give business leaders the visibility they need for competitive insights. Recently, the company partnered with Namely, a cloud-deployed human resources software provider, to improve ERP integration of payroll and similar employee datasets, according to Fortune.

A better solution for employee data
The partnership between NetSuite and Namely is the latest in a long line of collaborations designed to give current users the latest tools to help them run their business. As NetSuite expands into new territories, it leverages innovative technology and the ideas of local companies to provide convenient and effective solutions. The choice to work with Namely is in response to the demands of the company’s growing mid-size business consumer group.

Managers of companies with about 500 employees voiced their need for data integration for complete financial visibility. When making decisions, business leaders want to see how payroll, benefits and schedule information will play a part in expansion and new ideas. Some companies currently manually input HR details into centralized ERP systems and they want a solution that allows them to create more reports faster and with fewer errors.

Accounting Today detailed how NetSuite’s most recent acquisition will give users the ability to integrate employee data directly into their existing platforms. Managers can automatically generate user accounts that update as soon as changes take place. By utilizing the convenient NetSuite dashboard, users may manage their own information will referencing important benefit and schedule details. It allows supervisors and decisions makers to view HR, payroll, and relevant accounting information in one place.

The visibility modern business needs
The demand for employee data in NetSuite solutions definitely exists. Not only has the company recorded requests from its users, but modern industry calls for managers who can make use of information provided by big data practices. By making the datasets more convenient and easier to work with, managers can prioritize the importance of digital information without losing sight of the human element crucial to their business success.

“By leveraging NetSuite’s platform, we are allowing clients to spend less time focusing on operations and more time on their people, which is what really counts,” Namely CEO Matt Straz told Accounting Today.

NetSuite suggested a clear sign a company needs new ERP solutions is when it doesn’t have easy access to critical information. If managers want to see employee data when making plans or allocating resources, they should invest in a solution with the functionality that not only makes their desires possible, but simple to carry out.

Accurate data benefits everyone
Chain Store Age shared the example of a growing company that improved its data processes to put people at the forefront of their daily procedures. Dylan’s Candy Bar replaced its legacy system with a NetSuite platform when it needed a solution for growth. Before, Dylan’s ran on a variety of different software products that made their information hard to track and compare. The company said a single platform for ERP and CRM solutions made it easier for employees to perform tasks. Since NetSuite implementation took place, inventory discrepancies have been reduced by 65 percent which benefits consumers, workers and the company’s bottom line.

Better data practices helps the company make informed decisions and improves the lives of employees. When benefits and payroll data is just as accurate as other prioritized company information, it eliminates common causes of stress and allows employees to focus on more important tasks. This new partnership should provide businesses with the mobile cloud-deployed features necessary to oversee employee success and make their actions a part of the crucial company information infrastructure.

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