Oracle NetSuite Announces Release of NetSuite Cash 360

Last fall, Oracle NetSuite introduced 360 Dashboards to provide enhanced work-spaces with an optimized focus for their customers by aggregating rich data and functionality around critical business functions. The dashboards were designed to enable businesses to keep track of their data and processes and see "down the road" through the use of artificial intelligence-based forecasting.

Incorporating all this data into a single window means users have the essentials they need in the moment to evaluate business requirements. It also gives them the analytical analysis needed to determine the likely path their business is taking in the immediate future.

NetSuite also released integrated workflows, which automated accounts payable and accounts receivable processes as part of its SuiteBanking feature. This makes it faster and easier to pay bills, send invoices and get paid. SuiteBanking was the first step in improving the accounts payable, receivable, bank reconciliation, spend management and other related features coming together in today's release of Cash 360.

In my mind, Cash 360 combines and expands upon the features and functionality of the 360 Dashboards and SuiteBanking to help businesses make strategic cash decisions and improve business forecasting. It gives users one of the 360 configurable dashboards with links to essential cash management activities, including tasks that need to be taken care of, current cash balances, accounts payable and accounts receivable balances, cash flow trends and a rolling six-month cash flow forecast. 

Gary Wiessinger, SVP of product management, Oracle NetSuite, says insufficient cash flow is the main reason new businesses fail in the first five years. "Despite it being such a critical area, many businesses struggle with cash management due to poor visibility and an inability to accurately forecast."

Cash 360 not only provides the status of essential cash data, but uses artificial intelligence to improve cash forecasting accuracy. With Cash 360, NetSuite customers can take advantage of a simplified and accurate cash flow forecasting process to give them greater confidence in their financial decision-making. 

  • Cash Management: New 360 dashboard monitors real-time receivables, payables and is available to improve the customers' cash flow visibility. Customers can review current cash flow trends and a rolling six-month cash flow forecast to enhance decision-making. 
  • Cash Flow Forecasting: Helps customers with increased forecasting accuracy using multiple data points—funding sources, planned expenditures, sales forecasts and billing schedules—and applying historical averages to current AR and AP transaction data to estimate collections and disbursements. The configurable solution enables customers to incorporate one-time cash inflows and outflows—like financing or capital investments—into the forecasting process. This enables them to project their cash needs and evaluate their company's liquidity position. 

Wiessinger says NetSuite Cash 360 turns a complex process into a simple one by giving customers everything they need to effectively manage cash flow. "This helps them ensure they have the cash reserves to maintain day-to-day operations, pay employees and suppliers, fund sales and marketing efforts, service debt, acquire capital equipment, and make other long-term investments."

Combined with other NetSuite features, Cash 360 gives businesses added accounting efficiencies, greater control of cash inflows and outflows, and more flexibility when making financial decisions.

For more information about Cash 360, read the latest NetSuite blog.

About Oracle NetSuite

For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides an integrated system that includes financials/Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce used by more than 28,000 customers in 215 countries and dependent territories. Learn more at https://www.netsuite.com. 

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