Introduction to NetSuite SRP
Updated: Sep 9, 2021
For service companies, managing human resources and projects is the core of the business. To help service businesses to manage the enterprise more efficiently and accurately, NetSuite releases NetSuite Service Resource Planning (SRP). This service is specifically aimed at professional services organizations to optimize their project-based operations. It offers integrated project management, resource management, project-based accounting, and time & expense tracking applications. NetSuite SRP is a completely SaaS-based solution that is accessible from any web browser, operating system, or mobile device. In this article, we will be looking at core features of NetSuite Resource Planning you might not want to miss.
1. Project Management
The project management module allows its users to collaborate on projects and maintain current and accurate project status at all times. Building a detailed project with tasks will help your team be organized and meet deliverables and deadlines.
2. Resource Management
Resource management allows project managers to optimize staffing and utilization by minimizing bench and ensuring that qualified resources are working on the right projects. The resource finder feature is an interesting tool to pick the correct resource to work on a project. Once the employee completed a skill set survey, project managers will be able to search for the resource.
3. Project Accounting
Project accounting helps you ensure that accurate accounting and billing to your customers throughout the project life-cycle and streamlines time and expenses. Some of the most popular project types include Milestone, Time & Material, and charged-based projects, which allow you to do a combination of rules.
4. Timesheet Management
Timesheet is a revamped method to enter time. It could help save a little bit of time at the end of every day with the help of a clean and colored interface. Of course, there are time approval workflows available with this feature.
5. Expense Management
Allows employees to track their expenses and link them to a project in order to be re-billed. In addition, it will be clearly visible how much money they have expensed on that specific project.
Allows the project manager to have an unobstructed view of the projects along with relevant data. Here is an example of the profit & loss of a project. It shows the merged labor, expenses, and supply costs, and revenues. There are also reports for an overview of multiple projects, or per client, and many more.
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