Press Release Summary:
NetSuiteÃ‚Â® Employee Resource Management, built as part of NetSuite, allows employees to enter expense reports and purchase requests, track time by project, and access HR-related documents. Customizable approval workflows allow managers to approve subordinates' expenses and purchase requests while viewing complete history for entire team. In addition, HR can share documents with employees regarding benefits, job performance and reviews, and company policies.
Original Press Release:
NetSuite Adds Advanced Employee Resource Management
New Capabilities Enable Both Employee and Managerial Self-Service, Improving Productivity and Reducing Costs
NetSuite, Inc., the leader in on-demand business software suites, today
announced NetSuiteÂ® Employee Resource Management (ERM). Built as part of
NetSuite, the new ERM functionality automates and centralises employee
management and self-service, providing tools to boost employee productivity
and reduce costs.
Employees can enter expense reports and purchase requests, track time by
project, and access HR-related documents. Built-in approval workflows can be
customised to allow managers to easily approve subordinates' expenses and
purchase requests while viewing the complete history for their entire team.
In addition, HR can share documents with employees regarding benefits, job
performance and reviews, company policies, new hire information, company
holiday schedules and essentially other HR-related information. All these
capabilities are easily accessed via the NetSuite Employee Centre, an
on-demand employee self-service portal available within NetSuite.
Moreover, all HR data can be accessed via NetSuite's SuiteTalk
integration platform to support integration with external Web
Services-enabled Payroll applications. With one click, managers can approve
employee time and expenses, and all relevant data flows automatically to
generate billing and ultimately the general ledger -- greatly improving
efficiency and accuracy.
For more information on NetSuite Employee Resource Management (ERM),
please visit: netsuite.com/erm .
"NetSuite's new ERM capabilities make it as easy to manage employees as
it is to manage the rest of your business, such as customer and vendor
transactions," said Zach Nelson, CEO of NetSuite. "In the past, HR
departments required complex integrations between their HRIS system and their
financial system. Now, they can empower their employees and managers with
self-service and integrated expense reporting, as well as eliminating the red
tape and cost of administering purchase management, time tracking and
disseminating information throughout the organisation."
NetSuite ERM ties the following key HR capabilities into its on-demand
suite of Accounting/ERP, CRM and ecommerce applications:
o Expense Reporting: Employees can fill out expense reports, bill items
to clients or projects, and route their reports automatically to supervisors.
Supervisors, in turn, can approve the reports from their dashboards with one
click of a button. All expense report data is available for subsequent query
and reporting, assisting in the easy generation of P11d reports.
o Purchase Requests: Employees can easily make purchase requests which
are then routed to supervisors for approval. Once approved, the accounting
department converts purchase requests into purchase orders with just one
o Time and Billing: With NetSuite, users can track time and billing for
an unlimited number of customers, and projects, and assign billable time to
individual jobs, departments, and/or classes automatically. Time can also be
entered for payroll tracking purposes such as personal time off, vacation,
sick time or unpaid leave.
o Document Management: NetSuite's document management system
electronically organizes and stores content, supporting publishing both
internally through the corporate intranet. This allows HR to publish all
information pertinent to employees regarding job reviews, company policies,
employee handbook, company holiday schedules, benefits and pension scheme
According to a recent Forrester research report by industry analyst Ray
Wang, HR and ERP have the highest adoption rates of all types of
software-as-a-service (SaaS) applications. "Among enterprises that use or are
piloting SaaS applications, adoption of HR applications (at 54 percent) and
ERP (at 40 percent) top the list, exceeding even CRM (at 38 percent)."
Pricing and Availability
NetSuite ERM is available now in NetSuite and NetSuite Small Business, by
purchasing the NetSuite Employee Centre, which is sold in five-user bundles
starting at 30 pounds Sterling per month.
NetSuite, Inc. is the leader in on-demand business software suites.
NetSuite enables companies to manage key business operations in a single
system, which includes accounting/Enterprise Resource Planning (ERP),
Customer Relationship Management (CRM), and Ecommerce. NetSuite is delivered
as an on-demand service, so there is no expensive hardware to procure, no
large, up-front license fee, and no complex set-ups. Finally, NetSuite's
patent-pending "real-time dashboard" technology provides an easy-to-use view
into role-specific business information that is always up-to-date. For more
information about NetSuite, visit: www.netsuite.com .
Web site: www.netsuite.com
Source: NetSuite, Inc.
Mei Li of NetSuite, Inc.,