NSPB Financials: The Simplest Way to Implement FP&A in NetSuite

Financial Planning & Analysis is a key process for any company (check this article for more on FP&A), and NetSuite has the best tool for doing FP&A through Oracle NetSuite Planning and Budgeting (NSPB).

What is NetSuite Planning and Budgeting (NSPB)?

NetSuite Planning and Budgeting (NSPB) is a powerful FP&A (Financial Planning and Analysis) tool that Oracle introduced in Fiscal Year 2021. It has since been available to all NetSuite ERP customers or prospects. NSPB—sometimes mistakenly called NetSuite Budgeting and Forecasting or Oracle NetSuite PBCS—is part of the NetSuite EPM suite launched in Europe in April 2024.

NSPB is built on Oracle EPM Cloud, a direct descendant of the Hyperion products Oracle acquired in 2007. Oracle EPM has consistently been a leader in financial planning and reporting, as confirmed by recent Gartner Magic Quadrant analyses. While NSPB itself is not always mentioned in these accolades, it inherits the robustness and innovation that define Oracle’s EPM offerings.

Why was a Financial Framework needed for NSPB?

While Hyperion and Oracle EPM solutions had a well-established base of experienced implementers, NetSuite, operating as an independent business unit within Oracle, decided to foster its own network of NSPB implementers starting in 2021.

This led to diverse approaches to implementation:

• Experienced EPM consultants launched spin-offs consulting groups focusing on NSPB.
• NetSuite ERP implementers subcontracted third-party freelance consultants.
• NetSuite Advanced Consulting Services (ACS) performed NSPB implementations directly.

While many of these projects succeeded, others fell short of customer expectations, most of the times due to the lack of an agreed-upon implementation framework. That’s where the Financials Framework for NSPB comes in—to streamline implementation, reduce costs, and ensure predictable outcomes.

What is NetSuite Planning and Budgeting Financials?

Also known as the NetSuite Financials Framework, NSPB Financials is a pre-configured framework designed by NetSuite consultants to provide businesses with a ready-to-go FP&A platform. It delivers essential financial planning features while minimizing cost and implementation time.

Think of it as buying an off-the-shelf designer suit instead of tailoring one from scratch. While custom-built implementations may offer more flexibility, NSPB Financials covers the FP&A needs of most businesses, especially small and medium-sized enterprises.

Major capabilities of NSPB Financial

As outlined in its User Guide, the key functionalities of NSPB Financials are:

1. Reporting and Analytics
   • Forecast Variance Reports
   • Budget Variance Reports
   • CFO Dashboards
2. Revenue and Gross Margin
   • Trend-Based Revenue Forecasts
   • Gross Margin Analysis
   • Total Revenue Dashboards
3. Operating Expense (OpEx)
   • OpEx Planning
   • OpEx Dashboards
4. Financial Statements
   • Income Statement
   • Balance Sheet Trending Reports
   • Cash Flow Statements
5. Budgeting and Analysis
   • Predictive Planning
   • Grid-Based Budgeting
   • “What-If” Scenarios

Can customers implement NSPB Financials on their own?

While no customer has implemented NSPB Financials entirely on their own according to our knowledge, it is feasible as a collaborative effort customer-consultant. Typically, a Financial Controller or Super User dedicates one-third of their time over a no-more than 4-week implementation period, working alongside an experienced implementer.

Drawbacks of NSPB Financials

As any pre-configured solutions, there are some cons and following some of them:

Limited Knowledge Among Partners

Few NSPB implementation partners are familiar with the Financials Framework, so it’s rarely recommended as an option.

Restricted Rule Customization

NSPB Financials has built-in rules that cannot be overwritten. Adding custom functionality requires creating additional cubes (databases).

Support and Updates for NSPB Financials

When implemented following best practices, NSPB Financials receives quarterly updates from Oracle NetSuite. Customers can raise support tickets directly, and NetSuite has committed to releasing additional frameworks for Workforce, Projects, Product, and Subscription Planning in the future without a committed launching date (NSPB Module Framework Roadmap):

What is the Cost of NSPB Financials?

There’s no additional cost beyond purchasing NSPB and the NSPB Sync component, which integrates NSPB with NetSuite ERP. However, implementation services from consultants incur additional costs.

How to activate NSPB Financials ?

You should install your application as usual, but after this has been done, go to the Configure card, and activate it as follows:

Will More Frameworks Be Available for NSPB?

While not formally committed, NetSuite plans to expand its offerings with new frameworks for Workforce, Projects, Product, and Subscription planning. These will integrate seamlessly with NSPB Financials, but timelines and details are subject to change.

Our conclusions

There is not a black/white answer on wheter if NSPB Financials will fit specific needs of an specific company, but it is worth to evaluate it as part of your product selection with your trusted partner.

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