Minimize downtime while keeping energy assets operating at peak performance.
Renewable energy organizations are competing for market share from around the world. To stay in the race, they must upgrade their IT footprint.
Utility companies are reducing carbon emissions to keep up with customers’ demand for clean energy. The need for accurate, real-time data to efficiently deliver sustainable energy is also increasing.
- 5G and Cloud Technology
5G communications and cloud expedite the clean energy transition. Utilities are now moving data from smart meters, sensors, and other devices to the cloud through 5G resulting in more effective and efficient business decisions.
- Advancing Social Equity
As energy costs rise, utility companies should build trust and engagement with their customers. Embracing intelligent technology has helped them examine and analyze relevant data to serve all their customers better.
Why NetSuite for Utilities?
- End-to-end visibility into your receivables and payables with integrated order-to-cash (i.e. sales order, billing, collection) and procure-to-pay (i.e. requisition, purchase order, invoice) transaction management.
- Multi-company consolidation and real-time roll-up across accounts receivable, accounts payable, payroll, inventory, billing, invoicing, and order fulfillment, from local in-country operations to the regional offices to global headquarters.
- Close with confidence and report financials quickly and accurately.
- Get immediate visibility into financial performance with pre-built or customized reports.
- Maintain compliance with applicable accounting standards while establishing control and enabling audit trails.
Integrated Budgeting and Forecasting
- Reduce Planning Cycle Times. Collect inputs and assumptions, review iterations, and present consolidated results on time.
- Speed Decision Making. Drill across budget, forecast, and actuals to see the impact on performance in real time.
- Align the Organization. Centralize your budget with forecast and actual information in one place, providing a single version of the truth.
Customer Relationship Management
- Improve Customer Relationships. A true 360-degree view of the customer, including sales, support cases, and financial transactions.
- Efficient Accounts Management. Create a holistic view of all accounts and their contacts with related activities in a single view.
- Improve Marketing Effectiveness and ROI. Make more educated decisions about your marketing spend—targeting the highest return avenues.
- Timely Information and Insight. Improve business performance with real-time access to revenue-related ending balances and revenue recognized.
- Streamline the Process. Take control of recurring processes by automating billing cycles and renewal periods.
- Align the Organization. Unify all stakeholders with one system, from sales and service reps to finance managers and executives.
Inventory Management and Supply Chain
- Run Lean Operations. Manage every step of the product lifecycle from factory to store with an integrated manufacturing and wholesale distribution solution.
- Strengthen Vendor Relationships. Collaborate with suppliers, vendors, and partners by providing self-serve access and real-time visibility.
- Forecast with Confidence. Anticipate demand with better accuracy to maintain sufficient inventory levels.
- Request approval to procure goods and services quickly and easily.
- Optimize procurement for recurring needs with negotiated terms, tiered pricing, and pre-specified delivery schedules.
- Enforce compliance with purchasing thresholds and guidelines.
- From acquisition through payment, automate the complete procurement process for goods and services.
- Accept a variety of credit and debit card types and other electronic forms of payment for online payment processing needs.
- Establish budget and spending controls to ensure compliance with policies.
- Gain real-time visibility into the spending trends across your organization.
- Ensure compliance and accommodate requirements with easy and timely customized reporting.
- Create reports and dashboards that combine operational and financial data and KPIs.
- Analyze statistical measures and results for each department, location, and more.
- Gain instant, real-time visibility for all key stakeholders, from high-level summaries down to the underlying transactions.
- Ensure compliance and minimize risk with robust security, segregation of duties, and fully auditable business processes.