Oracle has announced at the "Government Finance Officers Association Annual Conference," Oracle NetSuite for Government. This is a new suite of cloud solutions specifically designed specifically to meet the needs of small to midsize state and local government agencies.
NetSuite for Government provides a single, integrated suite for streamlined accounting, grants management, payroll, planning and budgeting, human resource management, and more. This empowers agencies to increase automation, transparency and operational efficiency, while getting the fast, accurate data needed to help make better decisions.
With built-in industry-specific functionality—such as Governmental Accounting Standards Board (GASB) reporting—organizations can reduce manual work to refocus staff on higher value opportunities that better serve their communities.
“No government agency is too small to benefit from the innovation, efficiency, and security that modern cloud infrastructure provides,” says Steve Seoane, Senior VP and GM of Oracle Local Government. “NetSuite for Government provides a clear pathway to modernizing local government ERP and ultimately improving constituent experiences with more efficient, effective and responsive government processes.”
NetSuite for Government runs on a modern cloud infrastructure that offers robust security, consolidates and connects data on a common platform for fast analysis and easily integrates with many existing government systems.
It also provides agencies the scalability and flexibility required to adapt to changing tax, statutory reporting requirements, and community needs. Pre-integrated modules make it easy for agencies to implement the functionality they need over time and achieve a faster return on investment.
Features NetSuite for Government Provides
Core Fund Accounting — Helps agencies to efficiently manage finance and accounting with integrated general ledger, accounts receivable, accounts payable, cash management, statistical accounting, allocation schedules, and real-time reporting capabilities.
This helps agencies to improve productivity by consolidating all processes in one GASB-compliant system and automating approval routing workflows for journal entries, purchase orders (POs) and invoices.
Source: Oracle NetSuite media source content
Planning and Budgeting — Gives finance officers the ability to automate labor-intensive planning and budgeting processes to produce budgets and forecasts faster, model "what-if" scenarios and generate reports using a single collaborative, scalable suite.
Requisitions and Procurement — Enables government finance officers to track the procure-to-pay process, including encumbrances, requisitions, and budget reporting in real time. It also allows agencies to simplify the process of placing, managing and expediting purchase orders and create custom approval workflows based on roles, departments or other criteria.
Source: Oracle NetSuite media source content
Human Resource Management — Simplifies complex government workforce management processes by providing a single suite to manage HR, payroll and financials. In addition, it automates and removes manual data entry for easier and more efficient HR services across the organization.
Payroll — Allows government agencies to automate payroll processes, including calculating gross-to-net earnings, withholding mandatory taxes, deducting benefits, and scheduling and issuing payments with a full-service payroll solution designed for government.
Tools like payroll batch previews help HR reduce the risk of errors by spotting variances before payroll is run, and a real-time general ledger helps finance leaders keep accounts up to date and in balance.
Reporting and Dashboards — Enable a unified view of the organization that can help agencies gain meaningful operational and financial insights with built-in, real-time reporting and analysis across all processes within the product suite.
Customizable dashboards and robust reporting capabilities with pre-built reports make it easy to perform actionable analysis with key business performance indicators and built-in business intelligence, role-based metrics, reminders, and analytics.
Head over to the Oracle NetSuite for Government website to learn more about this new offering.
To learn more about Oracle NetSuite for Government, visit https://www.oracle.com/government/state-local/netsuite-for-government/
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