NetSuite SRP 101

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Netsuite Service Resource Planning (SRP) is the version of Netsuite aimed toward service organizations. For many service companies, managing human resources and projects is the core of their business. In this blog post, we’ll go over some of the interesting features that will allow  you to manage your enterprise more efficiently and accurately.

Before we start, it’s important to know what’s included with Netsuite SRP. Note that it is also possible to add features à la carte to your Netsuite account. However, if you do not have all the required bundles, some features may not be fully functional as they may depend on each other.

  1. Project Management
  2. Resource Management
  3. Project Accounting
  4. Timesheet Management
  5. Expense Management
  6. Analytics

1.Project Management

PM modules will allow 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 deliverable and deadlines.

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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 appropriate resource.

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3. Project Accounting

Project accounting helps you ensure that accurate accounting and billing to your customers throughout the project lifecycle, and streamlines time and expenses. Some of the most popular project types includes Milestone, Time & Material, and charged-based projects, which allows you to do a combination of rules.

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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 is time approval workflows available with this feature.

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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 on the project itself how much money was expensed on that specific project.

6. Analytics

allows the project manager to have a clear view on the projects along with relevant data. Here is an example of the profit & loss of a project. It shows the consolidated 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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This sums it up for some of the core features of NetSuite SRP. There are many more features behind the scene that will help your service enterprise run with more productivity and efficiency. Do not hesitate to ask a question down in the comments or simply contact us.

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