How NetSuite Performance Management and SuitePeople Help You Work Better

NetSuite Performance Management

Learn how NetSuite’s SuitePeople HR, EPM, and SuiteCloud tools help you align teams, manage finances, and run more efficient operations—a practical guide to better performance management for growing businesses.

What Businesses Struggle With

As your business grows, managing things becomes more challenging. HR tasks pile up. Financial reports take longer. Teams get disconnected. You might be using spreadsheets, QuickBooks, or disconnected systems that no longer meet your needs.

NetSuite Performance Management is a solution designed for businesses seeking to address this issue. It brings HR, finance, and system tools into one place. It helps you work better, with fewer delays and clearer data. You can manage employee goals, run accurate budgets, and track how your system is performing—all in real time.

This blog explains how NetSuite accomplishes this and how you can utilize it to enhance daily operations.

What Is NetSuite Performance Management?

NetSuite Performance Management is part of the NetSuite ERP system. It helps companies do three main things:

  • Align employee performance with company goals.
  • Improve financial planning and reporting.
  • Monitor how the system works to avoid slowdowns.

It brings together tools from three areas:

  • SuitePeople HR: To manage employees.
  • EPM (Enterprise Performance Management): To handle financial processes.
  • SuiteCloud & APM: To customize and monitor your system.

These tools work together. That means fewer systems to manage and fewer mistakes.

Managing People with SuitePeople HR

SuitePeople is the HR tool inside NetSuite. It helps you manage employee performance, reviews, and growth. It focuses on clarity and simplicity. Here’s how it works.

Goal Management
Employees and managers set goals together. This makes sure goals are clear and useful. Progress updates show how close employees are to hitting targets. Managers can step in when someone needs help. This creates accountability across teams.

Performance Reviews
Performance reviews should lead to better work. SuitePeople gives managers a way to review employees regularly. Feedback is clear, tied to goals, and built into daily work. Reviews include notes on what went well and what could improve. This encourages steady progress, not just once-a-year feedback.

Career Development
SuitePeople lets employees look at their current skills and plan for the future. Managers help build clear development plans. This gives employees a path forward and helps the company grow from within. When people see a future with you, they stay longer.

Managing Finances with NetSuite EPM

Your finance team needs fast, accurate tools. Spreadsheets don’t scale. NetSuite’s Enterprise Performance Management (EPM) helps you plan, budget, and close the books faster. Here’s what it does.

Planning and Budgeting
You can build budgets and forecasts inside NetSuite. Use real data from across your business. Model different scenarios to see how changes affect your numbers. Automate tasks that used to take hours. This saves time and helps you plan better.

Account Reconciliation
EPM automates account matching. It finds errors and flags problems without manual effort. This makes the closing process faster and less risky. Your team spends more time analyzing numbers, not chasing them.

Financial Close and Consolidation
EPM helps close the books with fewer errors. It handles intercompany transactions and supports multiple currencies. Close steps are tracked so you know what’s done and what’s not. This helps you hit deadlines without rushing.

Tax and Reporting
EPM uses live financial data to build tax reports. This keeps reporting in sync with accounting. You can also create narrative reports to explain results to boards or investors.

Customizing and Monitoring with SuiteCloud and APM

Your business may have special workflows. You may use other systems like Salesforce or Shopify. NetSuite’s SuiteCloud platform lets you adjust the system to match how you work. It’s built for change.

SuiteCloud Customization
SuiteCloud includes tools for:

  • Changing layouts and dashboards.
  • Automating steps like approvals.
  • Writing scripts for custom processes.
  • Connecting to outside platforms using APIs.

These tools give you control. You don’t need to wait for new features or workarounds.

Application Performance Management (APM)
Even good systems slow down if not managed. APM shows how your NetSuite is performing. You can track things like page load times and script issues. Dashboards show where the problem is—client, server, or network.

Use this data to fix problems early and keep everything running smoothly.

Best Practices to Keep NetSuite Running Well

Here are a few tips to get the best performance out of NetSuite:

  • Clean up your data: Old or duplicate records slow things down.
  • Build useful dashboards: Show only the metrics that matter to each user.
  • Automate tasks: Use SuiteFlow and SuiteScript to cut out repetitive steps.
  • Review system performance: Use APM to catch slow pages or broken scripts.
  • Train your team: People should know how to use the tools available to them.

These small steps lead to better results over time.

Why EPIQ Infotech Helps You Get More from NetSuite

Getting NetSuite to do what you need takes experience. That’s where EPIQ Infotech comes in.

EPIQ Infotech is one of the Top NetSuite Partners. They help companies implement, customize, and optimize NetSuite. Their team understands business operations and how to align them with NetSuite’s tools.

Here’s what they offer:

  • Implementation: Set up NetSuite the right way from day one.
  • Customization: Adjust NetSuite to match your workflows and industry.
  • Automation: Streamline operations with better processes.
  • Ongoing support: Fix issues and plan for the future.

Conclusion: A Smarter Way to Work

NetSuite Performance Management gives you the tools to manage people, money, and systems in one place. SuitePeople improves employee performance. EPM speeds up financial tasks. SuiteCloud and APM make sure your system grows with you.

Together, these tools help your business become more efficient, more focused, and more capable of scaling.

If you want help getting the most out of NetSuite, EPIQ Infotech can guide you. They know the platform, understand business processes, and help you avoid the common mistakes.

Frequently Asked Questions

NetSuite Performance Management is a suite of tools that helps businesses streamline HR, financial planning, and system management. It includes SuitePeople HR for employee performance and EPM for financial planning, all integrated into NetSuite ERP.

SuitePeople HR aligns employee goals with company objectives. It includes Goal Management, Performance Reviews, and Career Development tools to track and improve performance while fostering employee growth.

NetSuite EPM automates financial processes like budgeting, forecasting, and account reconciliation. SuitePeople HR focuses on managing employee performance, reviews, and career development. EPM is finance-focused, while SuitePeople is people-focused.

NetSuite EPM automates key financial tasks such as budgeting, account reconciliation, and financial reporting using AI and machine learning, reducing manual effort and speeding up processes.

Yes, SuiteCloud allows for customization, enabling businesses to adjust workflows, dashboards, and reports to meet specific needs. It also integrates with third-party applications.

To optimize NetSuite, focus on data cleanup, customizing dashboards, automating repetitive tasks, and monitoring performance using APM to catch issues early.

EPIQ Infotech helps businesses implement, customize, and optimize NetSuite. They provide expertise in aligning NetSuite tools with your business processes for improved efficiency.

SuitePeople promotes employee engagement by aligning personal goals with business objectives, offering regular feedback, and creating clear career development paths to boost satisfaction and retention.

Yes, NetSuite is ideal for mid-sized businesses as it provides a scalable, integrated system for managing finances, HR, and operations in one place.

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