Accounting is a crucial part of all businesses. With NetSuite, you are able to have accounting processes along with capabilities that can easily perform finance and accounting functions with strong compliance in their practice. This will increase business performance and ensure accuracy, in turn, reducing back-office costs.
Real-time financial reporting is another added benefit with NetSuite, features such as revenue recognition to help companies to stick to compliant measures, with complex contracts.
The accounting tasks that can be managed through NetSuite include, general ledger, cash management, AR/AP, tax management, fixed assets management, and more!
The aviation industry needs large capital to operate, that is why inventory management is one of the most crucial business functions. The goal is to reduce the amount of capital that can get tied up such as in excess inventory or when aircraft are due for maintenance.
In terms of inventory carried, NetSuite can track when items are received, held, sold, and in the case when aircraft are out for repairs. Keeping track of these situations allows for better real-time decision-making and coordination of inventory and fleets.
Fleet management also takes care of managing and coordinating aircraft types with databases that describe technical details, maintenance schedule, MEL (minimum equipment list), resource tracking,