NetSuite Drivetrain Integration
Connect NetSuite to Drivetrain to build consolidated financial reports, interconnected 3-statement models, and track variances in real-time.
Why connect NetSuite to Drivetrain?
Speed up month-end closing
Automate the creation and consolidation of financial statements for faster and more accurate month-end reporting.
Improve forecast accuracy
Reforecast as often as needed with real-time data sync with your ERP and other sources of data.
Spend more time on analysis
Easily track how your business is doing and focus on identifying deep, actionable insights.
Bring your most important NetSuite data into Drivetrain
General Ledger (GL) Data
- Chart of accounts (COA)
- Actuals (by GL account, department, class, location, subsidiary)
- Journal entries
- COGS & operating expenses
- Adjustments
- Currency exchange rates
AP and AR data
- Vendor master data
- Customer master data
- Invoice details (date, amount, due date, status)
Master Data & Metadata
- Dimensions: department, location, subsidiary, product, project, etc.
- Accounting books and periods
Other data
- Sales orders
- Inventory levels
- Custom lists and fields
Turn your NetSuite data into powerful financial insights
Create custom 3-statement financial reports with ease
NetSuite houses all your critical accounting data, but it wasn’t built for reporting purposes.
By integrating your ERP with Drivetrain, you can build customized, transaction-level cashflow statement, balance sheet, and income statement (P&L) quickly and easily.
“We were able to integrate seamlessly with our key systems, Salesforce, NetSuite & GSheets. This integration streamlines our financial processes and ensures that data flows smoothly between different systems.”
Have real-time visibility of your critical financial and operational metrics
Marry your ERP data with data from your CRM, HRIS, billing solution, and other business applications to gain real-time visibility into key SaaS metrics, including Gross Margin, Rule of 40, Magic Number, and CAC Payback Period.
Create board-ready reports with interactive charts and dashboards in minutes and share them securely with key stakeholders.
Monitor all variances in real-time to always stay on track
Eliminate the heavy lifting. Connect NetSuite with Drivetrain to automatically update your actuals in real time without any manual intervention.
Track budget vs. actuals and budgets vs. forecast across revenue, headcount and vendor expenses, and more to quickly identify variances and adjust your plans accordingly.
NetSuite and Drivetrain — a powerful combination for finance teams
Three-statement reporting
Easily create pro forma reports for any time frame at whatever level you need, whether by account category, class or vendor.
Consolidated reporting
Automate consolidation across multiple entities with different ERPs or multiple instances of a single ERP and manage foreign exchange (FX) rates with ease.
Stakeholder-specific reporting
Create multiple versions of your financial reports for your board, management and other key stakeholders quickly.
Revenue recognition
Build schedules for your receivables and improve the accuracy of your cash flow and revenue forecasting.
Rolling forecasts
With real-time sync with NetSuite, ensure that your models and reports always reflect the latest actuals data.
Scenario modeling
Build and compare multiple scenarios quickly to assess the impact of change in assumptions on different metrics and targets.
FAQs
What is NetSuite?
NetSuite is a cloud-based Enterprise Resource Planning (ERP) system. Businesses use it to manage their financials, operations, and core business processes in one centralized platform. It is a scalable solution to run all of your key back-office operations. However, it lacks flexible reporting, interactive dashboarding, and advanced financial planning and analysis (FP&A) capabilities.
What are the benefits of integrating NetSuite and Drivetrain?
Integrating NetSuite with Drivetrain helps you create a single source of truth for all your actuals and plans, enabling faster financial reporting, automated variance analysis, and more accurate forecasting. FP&A teams eliminate manual data consolidation, and gain real-time visibility into their business's performance, cash flow, and operational drivers across the business.
How much time would it take to integrate NetSuite with Drivetrain?
Drivetrain has a native connector for NetSuite, so connecting the two systems takes only a few minutes. Once connected, we can pull in your actuals, map your dimensions, and get your baseline 3-statement model and core reports built out in a matter of hours. You can read through all the steps required to integrate NetSuite and Drivetrain here.