Understanding NetSuite EPM
Oracle NetSuite has introduced NetSuite Enterprise Performance Management (EPM) to help organisations streamline their financial processes. It works with your current ERP system to improve productivity, efficiency, and profitability. Whether you’re new to NetSuite or already use it, here’s how it can help your business.
NetSuite EPM combines planning, budgeting, forecasting, account reconciliation, financial close, and reporting into one system. It helps businesses see their operations clearly, make better decisions, and grow. Built on Oracle Fusion Cloud EPM and integrated with NetSuite, it includes:
Planning and Budgeting: Automate budgeting and forecasting. Create reports, test scenarios, and collaborate in one flexible tool.
Account Reconciliation: Simplify reconciling general ledger and balance sheet accounts. Gather and match data automatically for faster, more accurate closings.
Close Management and Consolidation: Manage the entire close process in one place. Assign tasks, handle adjustments, and post journals directly to NetSuite’s ledger.
Corporate Tax Reporting: Align tax reporting with financial reporting. Use NetSuite’s ledger data for accurate, up-to-date tax calculations.
Narrative Reporting: Combine financial data with written explanations in one report. Collaborate on creating and sharing management or regulatory reports.
Profitability and Cost Management: Analyse costs and profits by customer, product, or segment. Make informed decisions about investments and business direction.
How NetSuite EPM Can Help Your Business
NetSuite Enterprise Performance Management (EPM) combines technology and processes to show how your company performs compared to its goals and forecasts. It simplifies financial tasks and provides clear data for better decisions.
Unified Financial Planning: You don’t need multiple systems. NetSuite EPM handles planning, budgeting, and forecasting in one place. This saves time and reduces errors from switching between tools.
Real-Time Data: You get current financial information instantly. No delays waiting for reports. This helps you respond to changes quickly and stay on top of your business.
Better Decisions: Clear data leads to smarter choices. NetSuite EPM shows trends and risks, helping leaders plan effectively and act on opportunities without guesswork.
Growth-Friendly Design: Whether your business is small or large, NetSuite EPM adapts. It manages complex tasks as your company grows, keeping processes smooth.
Common Financial Challenges Solved by NetSuite EPM
Many finance teams struggle with:
- Slow budgeting and forecasting processes.
- Manual account reconciliation takes too long.
- Complicated financial close procedures.
- Limited or unclear reporting.
If these sound familiar, you’re not alone. A KPMG survey found that fewer than half of finance leaders have fully connected business processes. Disconnected systems make it hard to focus on growth and long-term goals.
Real Examples of Success
Here’s how NetSuite EPM has helped businesses:
Retailer Expansion: A retailer expanding to new regions had slow financial processes. With NetSuite EPM, they cut their month-end close from 10 days to 3 days. This saved time and improved accuracy.
Global Tech Company: A global tech company used NetSuite EPM to connect budgeting, forecasting, and reporting. They became more flexible, responding faster to market shifts and avoiding significant losses.
These cases show that NetSuite EPM can turn financial challenges into opportunities for efficiency and growth.
Who Needs NetSuite EPM?
NetSuite EPM works well for businesses that want better control over their financial processes. It’s especially useful for:
- Finance teams tired of manual work, spreadsheets, and disconnected systems.
- CFOs and financial leaders needing faster, more accurate planning and forecasting.
- Growing companies needing a system that can scale as they expand.
- Businesses with slow financial closes or manual reconciliation—EPM automates these tasks.
- Organisations with messy reporting—it brings everything into one clear system.
Whether you’re in retail, manufacturing, tech, or professional services, NetSuite EPM helps simplify financial management and supports better decisions.
If your current processes feel slow, manual, or disconnected, NetSuite EPM could be a good fit. It reduces errors, saves time, and gives you real-time insights.
New AI Features in NetSuite EPM (2025.1)
The 2025.1 release adds powerful AI tools to NetSuite EPM, making financial tasks faster and more insightful:
Generative AI for Narrative Reporting: AI now creates detailed narratives and visuals from financial data. This saves time on report writing and helps explain trends or variances clearly.
AI Digital Assistant: You can interact with EPM using natural language, asking questions or running tasks. This makes the system easier to use, even for non-experts.
Enhanced Cash Forecasting: NetSuite Cash 360 now includes instalment due dates for better cash flow predictions, helping you manage finances more accurately.
Planning and Budgeting Sync: The updated version 24.2.3 includes new saved searches for Planning and Budgeting, enhancing the integration between NetSuite and EPM planning processes.
How EPIQ Infotech Can Simplify Your Operations
EPIQ Infotech is a trusted provider of Oracle consulting services, specializing in Oracle Fusion Cloud EPM, NetSuite EPM, Business Intelligence (BI), and Advisory. We help businesses streamline their financial planning, reporting, and analytics processes with practical, efficient solutions.
Here’s how we support our clients:
Implementation & Configuration: We set up EPM and BI solutions tailored to your business needs, ensuring smooth deployment.
User Adoption & Training: We guide your team to fully leverage the system fully, helping them adapt quickly and use it effectively.
Ongoing Support: We provide continuous assistance to resolve issues, optimize performance, and ensure long-term success.
Solution Enhancement: We improve your existing systems to maximize ROI and reduce costs over time.
How We Can Help You Further
- EPIQ Accelerator Offering – Fast-track your EPM implementation with pre-configured best practices.
- System Health Check & Tune-Up – Assess your current setup and optimise it for better efficiency.
- Transformation Support – Whether you’re migrating to the cloud or improving financial processes, we help you meet your goals.
If you’d like to discuss how we can assist your business, schedule a one-on-one meeting with our experts. Let’s find the right solution for your needs.
Contact us today to get started.
Frequently Asked Questions
What is NetSuite EPM?
NetSuite Enterprise Performance Management (EPM) is a suite of financial tools that include planning, budgeting, forecasting, account reconciliation, financial close, tax reporting, and profitability analysis. It helps businesses improve accuracy, efficiency, and decision-making by unifying these processes.
Do I need to already use NetSuite ERP to benefit from EPM?
No. While NetSuite EPM integrates seamlessly with NetSuite ERP, it can also work alongside your existing ERP system. It’s designed to enhance your current financial processes regardless of the platform you use.
How does NetSuite EPM improve financial reporting?
NetSuite EPM provides real-time data and narrative reporting, combining financial metrics with written explanations. This results in clear, consistent, and collaborative reporting for management and regulatory purposes.
What industries can benefit from NetSuite EPM?
Industries like retail, manufacturing, technology, and professional services benefit from EPM. Any business looking to streamline financial operations, reduce manual tasks, and gain deeper financial insights can benefit.
What are the new AI features in the 2025.1 release?
The 2025.1 release introduces generative AI for narrative reporting, an AI digital assistant for natural language queries, enhanced cash forecasting with installment tracking, and improved syncing for planning and budgeting processes.
How long does it take to implement NetSuite EPM?
Implementation time varies depending on your business size and needs. However, with solutions like the EPIQ Accelerator Offering, businesses can fast-track deployment using pre-configured best practices for quicker results.
Can EPIQ Infotech help us after implementation?
Yes. EPIQ Infotech provides end-to-end support—from setup and training to ongoing optimization and system health checks. Their goal is to ensure long-term success and maximum ROI for your financial systems.
What if our current financial processes are manual or disconnected?
That’s exactly where NetSuite EPM shines. It replaces manual work and spreadsheets with automated, integrated systems that reduce errors, save time, and give you real-time financial insights.
