In 1998, before Apple put a 1,000 songs in our pockets, NetSuite took 1,000s of businesses to the cloud.
It is no hyperbole to say that NetSuite has probably single-handedly led the cloud revolution for businesses across the world.
Today, we are thrilled to announce that Growfin has officially partnered with NetSuite to further that spirit of transformation to how businesses manage their receivables.
Growfin is now a Built For NetSuite partner, and available on SuiteCloud starting today.
Why does this partnership matter?
NetSuite serves as the central hub for businesses, providing a comprehensive suite of capabilities that powers operations, scales seamlessly, and adapts to the diverse needs of organizations across various industries and geographies.
But fast-growing businesses, or those that operate with complex
a) business models within traditional verticals such as warehousing, manufacturing, distribution, or
b) pricing models like professional services or usage-based pricing
c) regulatory norms like healthcare and pharma
..experience increasing challenges in their AR processes due to longer collection cycles, multi-stakeholder-involvement, or billing disputes.
Traditionally, businesses have managed these hurdles through workarounds like consolidated spreadsheets, personalized manual follow-ups which lead to inefficiencies and missed opportunities for optimization.
This is where the NetSuite-Growfin partnership becomes critical.
- Meeting the Need for Specialized AR Solutions: As businesses grow, their AR challenges often become more complex. Growfin is built to complement and enhance NetSuite’s existing capabilities.
- Driving Efficiency and Insights: With Growfin’s intelligent automation and real-time analytics into NetSuite, businesses are able to eliminate manual processes and streamline their AR processes.
- Unifying the Experience for Better Outcomes: Growfin’s deep integration with NetSuite ensures a seamless experience for users. It allows for real-time data sync, resulting in decisions with confidence and accurate financial reporting.
- Addressing the Full Spectrum of AR Needs: Growfin brings an approach to AR management that goes beyond automation—handling complex processes such as multi-step dispute resolutions, smart cash application workflows, and thoughtful customer communication management.
- Building a Future-Ready AR Strategy: Our partnership with NetSuite is designed to be future-ready, providing proprietary ML-powered capabilities like touch-less cash application.
Unpacking what Growfin can do
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As we embark on this exciting partnership with NetSuite, we’re thrilled to introduce you to the depth of Growfin’s capabilities. Growfin’s platform is purpose-built for heavy AR management, reducing manual effort, accelerating cash flow, and providing deep insights into your collections process.
- Streamlined Collections: With Growfin, managing your AR is no longer a manual, time-consuming process. Our AR automation platform helps seamlessly prioritize accounts to reach out to, automates dunning, and ensures timely and consistent follow-ups with customers, helping reduce DSO.
- Dispute Management: Growfin provides a comprehensive dispute management system that allows for easy tracking and resolution of invoice disputes. Whether it's a pricing discrepancy or a service-related issue, our platform ensures that disputes are resolved quickly and efficiently.
- Intelligent Cash Application: Using advanced AI and ML algorithms, Growfin auto-matches payments to invoices with an accuracy rate of 80%, drastically reducing unapplied cash and manual intervention.
- Customer Self-Service Portal: Empower your customers with our self-service portal, where they can access account information, log a promise to pay, and raise disputes directly. This not only enhances the customer experience but also reduces the workload on your AR team.
- Seamless Integrations: Growfin also integrates seamlessly CRMs such as Salesforce and HubSpot and communication tools like Slack. And now, with our deep integration with NetSuite, we’re bringing the power of Growfin directly into the NetSuite environment, ensuring a smooth and unified experience.
One more thing…
From September 9-12, we’re bringing this experience to life at NetSuite SuiteWorld 2024 in Las Vegas. We’ll be at Booth #447, ready to show you what’s possible when innovation meets purpose.
Innovation happens when people with bold ideas come together. This partnership is just the beginning, and we can’t wait to see where it takes us – together.
