NetSuite is embedding fintech into cloud ERP with its new SuiteBanking offering.
NetSuite has announced at its SuiteWorld 2021 virtual event that it will bring banking tools to its ERP software in an effort to help organizations improve forecasting and make more strategic cash decisions. The company’s new SuiteBanking offering is the first unified suite that embeds fintech into cloud ERP to help customers automate key financial processes and gain full visibility into cash flow. By bringing together automated accounts payable and accounts receivable processes, NetSuite wants to make it faster and easier to pay bills, send invoices and get paid all from within its existing software. EVP at Oracle NetSuite, Evan Goldberg provided further insight on SuiteBanking and how the new offering will help organizations save time in a press release, saying: « Growing organizations cannot afford to have teams of people entering data, dealing with banks, monitoring transactions from multiple systems, and manually processing vendor payments.
