XY Planning Upgrades Financial Planning with MindStream Analytics and NetSuite
As fee-only financial advisors, XY Planning has carved out a niche by specializing in providing expert financial guidance to Generation X and Y clientele. Their finance department, essential for their services, sought a refined and more systematic approach to their planning and forecasting.
The Challenge:
Despite their specialization in financial advice, XY Planning faced hurdles in their internal finance operations:
- Absence of an employee planning system, causing inefficiencies in forecasting.
- A pressing need to establish a robust Sales/COGS & Expense forecasting mechanism.
- An interest in enhancing their reporting capabilities for actuals and forecasts.
The Solution:
MindStream Analytics, well-versed in addressing such challenges, presented a comprehensive solution:
- Introduction of the "Workforce" module, enabling XY Planning to meticulously plan at the employee level, ensuring accurate financial forecasting.
- For better management of forecast and budget, the OpEx and Sales/COGs modules were integrated.
- SmartView was a pivotal addition, empowering the XY Planning team to craft their own customized reports, aligning with their specific requirements.
Outcome:
The partnership with MindStream Analytics bore fruitful results:- Successful deployment of the NetSuite Planning & Budgeting solution, tailored to fit the unique needs of XY Planning.
- A streamlined process was established, with data being loaded automatically. This transformed both their reporting and forecasting endeavors.
- XY Planning has proficiently adopted the Workforce and OpEx modules, using them to their full potential to enhance their financial operations.
Partner SpotLight
NetSuite SuiteSuccess
NetSuite SuiteSuccess offers a pathway for businesses to succeed by engaging with them continuously throughout their lifecycle. NetSuite delivers a unique set of processes, activities, and systems designed to deliver rapid value. Customers are equipped to make the most of their NetSuite investment quickly and are able to expand towards next-generation solutions to meet changing business needs.
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