Boston, MA 10/09/2014 (wallstreetpr) – NetSuite Inc (NYSE:N) issued a press release that Main Street Power Company Inc. has installed NetSuite OneWorld to manage its mission-critical finance activities.
NetSuite is an industry leader in cloud-based finance operations, ERP and omnichannel commerce software suites. Its latest press release informs that its NetSuite OneWorld has been deployed by Main Street, which is into the development, financing and operation of solar projects. The company also additionally owns over 1,000 such projects in North America.
Benefits Of The Platform
Main Street deployment of NetSuite OneWorld aims to serve its finance related operations, including financial consolidation, real-time analytics and financial reporting. NetSuite Inc (NYSE:N) Cloud claims to bring about a complete transformation in the way the company presently manages its financial operations. As explained in the press release, Main Street presently needs to over 40 instances of QuickBooks derived over the five years of management growth period. It has to consolidate finances for more than 40 entities through time-consuming, lengthy Excel Spreadsheets and other manual procedures.
However, NetSuite OneWorld eases down the process as it provides a single system capable of recording, as well as consolidating finances. In addition, the system also enables real-time analytics while bringing real-time visibility to the performance measures of the business. It claims to take care of errors such as double-data entry and other troubles associated with manual processes. Main Street is now relying on the new system to deal with its finances across all of its 52 subsidiaries.
Additional Advantages
NetSuite OneWorld endows Main Street the ability to cater to the unique challenges of the solar industry, such as managing government regulations and incentives, frequent price fluctuations, expenses pressures and volatile market conditions. In addition to this, the company will also be able to exploit NetSuite’s SuiteCloud development system. It integrates NetSuite OneWorld with AlsoEnergy, which is essentially a software that calculates power consumption by project.
