Accounting & Audit
NetSuite for Government Helps State and Local Agencies Move to the Cloud for Better Efficiency
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.
May. 26, 2023
Oracle has launched Oracle NetSuite for Government, a new suite of cloud solutions specifically designed for the needs of small-to-midsize state and local government agencies. NetSuite for Gover
nment 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,” said Steve Seoane, senior vice president and general manager, 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. With NetSuite for Government, agencies can automate:
- 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.
- 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 customized approval workflows based on roles, departments, or other criteria.
- 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.
- Human Resource Management: Simplifies complex government workforce management processes by providing asingle 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 toautomate 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.