11 Accounting and Finance Use Cases for CloudExtend Excel Apps
The benefits of analytics are well known. Yet, 63% of employees report they cannot gather insights in their required timeframe. In a remote capacity, more and more decisions must be data-driven and companies are increasing efforts to become data-driven cultures.
Creating a data-driven culture is replacing gut feeling decisions with decisions based on data-derived facts. For example, an executive may study simple key figures such as revenue or profit, results from advanced analytics models, or even qualitative data when making decisions.
As data transformation and automation initiatives were formed in the past decade, accounting and finance executives have always been the quarterbacks of the movement. These departments have always operated on tight month and year-end fiscal timelines, with little to no room for error.
Because CloudExtend Excel Integration Apps are so easy to install, require little to no training and work with Excel, they appeal to many accounting and finance professionals. In fact, 1000s of NetSuite users have already discovered the benefits of CloudExtend products.
CloudExtend builds NetSuite applications that allow finance and accounting teams to work exponentially faster. With a strong background in ERPs and CRMs that allows us to deliver products that install in seconds, and deliver immediate benefits.
Use Cases for Accounting and Finance Teams from CloudExtend:
- Manage Vendor Price Lists
- Return Authorizations
- Journal Entries
- Aging Reports
- Purchase Orders
- Financial Statements
- Manage Credit Card Statements
- Manage Orphaned Bank Transactions
- Upload and Manage NetSuite Budgets
Process of Getting NetSuite Data Into Excel
This is a graphic representation of you getting your data out of NetSuite into Excel without CloudExtend. It’s a long process with many steps. Think of all the errors that can be made in CSV imports including: file size, matching, translation (data), values, missing data and non-digestible formats. Not to mention accountability for CSV imports.
CloudExtend’s Top-Rated Excel Integration Apps for NetSuite Users
With CloudExtend, you never have to leave excel, you can learn how to create easy-to-use streamlined reports and dashboards in (near) real-time. For more information watch: NetSuite and Excel 101: How to Create and Update Records in Excel.
CloudExtend Excel Analytics for NetSuite
CloudExtend Excel Analytics is a must-have for NetSuite business users. It enables them to create reports and dashboards in a streamlined and easy-to-use format. Combine one or more saved searches and create multiple joins to visualize your business data on-demand to run in the background for near real-time visibility into KPIs. You choose: you can see your data and dashboards in Excel or link to powerful BI tools such as PowerBI.
“CloudExtend’s Excel Analytics app inspired me to explore additional ways that we can automate processes for real-time business intelligence. In a remote working environment, we’ve managed to increase productivity by 30% and make more data-driven decisions,” according to Sarah Verdier, President of Botanical Science, Inc.
Before implementing CloudExtend Excel Analytics, Botanical Science was importing saved NetSuite searches into Excel by manually exporting, copying, and pasting. Leadership began exploring options because of the disruption of global supply during the COVID-19 pandemic. Known for only the purest products and ingredients, Botanical Science wasn’t going to compromise on the integrity of their products. They also couldn’t disrupt production or customer service in any way for training. After reviewing a demo, Botanical Science signed up.
They were up and running in less than an hour after they purchased the app. Sarah estimates that it’s saved her team over 15-20 hours a week and increased the accuracy of their data.
CloudExtend Excel Data Management
CloudExtend Excel Data Management for NetSuite installs from the Microsoft Office store in seconds and rarely involves any training. End users can access and edit their NetSuite data directly from within Excel allowing them to work from anywhere. When they sign in to CloudExtend and all of their customizations and templates are immediately available. NetSuite admins can rest easy knowing that roles and permissions are enforced by CloudExtend, offering accountability for CRM record updates.
“I use CloudExtend Excel for NetSuite every day, multiple times a day… it saves us at least $50,000 per year in additional payroll, if not more, and the quality is better than a human is capable of,” said Marc Smith, Chief Financial Officer, LeadAbroad
Prior to using CloudExtend, the CFO would have to rely on several time-consuming processes multiple times a week. For example, when updates to NetSuite data were required, he would have to manually pull data from NetSuite, review in Excel, then either utilize the mass update function or individually update each record. With over 18,000 potential customers in the system and dozens of data points, LeadAbroad needed a more accurate method to make decisions on how to interact with students who are looking to join the study abroad program.
With regard to data integrity, the company would have to manually check NetSuite multiple times a week just to make sure their team was acting on the latest records. Spending so much time on manual data entry or corrections instead of analysis was very frustrating for busy employees.
If you’d like either CloudExtend Excel application, you only have to go to the Microsoft Office Store and search for CloudExtend Excel. We offer free trials, a fully staffed support center, with a training manager to help you with any questions, but many times, our products are so easy, they require little to no training.