Getting More from NetSuite: A Finance Team’s How-To Guide 2025

In today’s digital-first finance landscape, having a robust ERP system like NetSuite is only the starting point. While NetSuite offers powerful core functionalities, it often leaves finance teams grappling with inefficient workflows, manual interventions, and poor visibility across processes. In a recent webinar hosted by ApprovalMax and Kolleno, two leaders in financial automation, industry experts shared actionable strategies for transforming NetSuite from a foundational tool into a powerhouse of streamlined approvals and automated cash collection.

In this blog, we will unpack why even the best ERP needs augmentation, when to know it’s time to act, and how integrated tools like ApprovalMax and Kolleno elevate finance operations from reactive to strategic.

Why NetSuite Alone Might Not Be Enough

NetSuite is highly valued for its configurability and scalability, making it a staple ERP system for many growing businesses. However, despite its robust capabilities, many finance teams find that it doesn’t always support the nuanced and evolving demands of modern financial operations out of the box. One of the most common challenges is the persistence of approval bottlenecks. In many organizations, approvals are still routed manually or depend on inconsistent email threads, which leads to unnecessary delays and errors.

Another pressing issue is the over-reliance on IT teams for simple changes within NetSuite. Finance professionals often lack the no-code flexibility to adapt workflows on their own, resulting in stalled processes and mounting frustration.

When it comes to accounts receivable, many businesses still resort to spreadsheets or legacy tools, which aren’t capable of handling the complexities of modern accounts receivable processes. These inefficiencies don’t just waste time—they result in delayed reporting, an increase in Days Sales Outstanding (DSO), and ultimately, they stunt organizational growth.

A Smarter Stack: Augmenting NetSuite with ApprovalMax and Kolleno

To overcome these challenges, a smarter approach involves augmenting NetSuite with purpose-built solutions like ApprovalMax and Kolleno. These tools are designed to integrate seamlessly with NetSuite, delivering enhanced capabilities without adding unnecessary complexity. Together, they empower finance teams to eliminate manual work, improve visibility, and scale efficiently.

ApprovalMax is a no-code approval automation tool that takes control of approvals out of the inbox and into a structured, rule-based workflow. This tool enables finance teams to build custom approval processes that live outside of NetSuite, removing the bottlenecks caused by manual routing. With role-based routing, escalation paths, and automated audit trails, ApprovalMax allows organizations to maintain control while significantly improving compliance and governance. Importantly, it gives finance teams autonomy—no more relying on IT for every workflow tweak.

On the other hand, Kolleno focuses on streamlining the accounts receivable process, which is often fragmented and time-consuming. Kolleno centralizes collections, communication, and reconciliation, making it easier for teams to manage AR at scale. Through AI-driven prioritization, teams can focus on the most critical accounts. Kolleno also offers omnichannel communication tools that help credit control professionals reach customers more effectively. Finally, its reconciliation workflows reduce the need for manual effort, improving speed and accuracy across the board. Combined, these tools transform NetSuite from a functional system into a strategic financial hub.

When to Enhance NetSuite: Key Signals

Understanding the right time to enhance NetSuite is key to unlocking its full potential. First, if your approvals are slow, inconsistent, or stuck in inboxes, it’s time to adopt a smarter approval workflow. Manual processes can delay decision-making and introduce compliance risks.

Second, if IT must intervene for even minor process adjustments, this indicates a lack of control within the finance function. Finance teams need the flexibility to adapt quickly, especially in today’s fast-changing environment. Third, a reliance on external spreadsheets to gain visibility into workflows is a red flag. It not only increases the risk of errors but also contributes to data silos and inefficiencies.

Fourth, if your collections process is fragmented, perhaps involving disjointed communication, duplicated efforts, or unclear prioritization, then the organization is losing time and cash flow unnecessarily. Finally, if your business is scaling and your workflows aren’t scaling with you, automation and flexibility are no longer optional; they are essential. These five signals provide a clear roadmap for deciding when to invest in enhancement tools.

Real-World Impact: Before and After

The benefits of integrating ApprovalMax and Kolleno go beyond theoretical improvements. Organizations that adopt these tools report tangible, measurable results. One of the most immediate impacts is a dramatic reduction in approval cycle times. What used to take days can now be completed in hours, freeing up decision-makers and streamlining the entire finance function.

DSO is another key performance indicator that improves significantly with Kolleno. By automating follow-ups, centralizing communication, and prioritizing high-risk accounts, companies can reduce DSO and improve liquidity. Audit readiness also becomes a far less daunting task. With every approval and transaction tracked in an auditable system, organizations can respond to compliance requirements with ease.

Team morale, often an overlooked metric, also improves. When finance professionals are freed from tedious manual tasks, they can focus on higher-value activities. This not only increases productivity but also contributes to retention and job satisfaction. These transformations position the finance team as a strategic contributor to business success.

Practical Implementation: How to Get Started

Getting started with these tools is straightforward and low-risk. Both ApprovalMax and Kolleno are designed for rapid deployment and minimal disruption. There is no need for extensive IT involvement or complicated setups. Instead, implementation is typically led by the finance team with support from product experts.

The first step is to map your current workflows. Identify where the bottlenecks, redundancies, and manual touchpoints exist. This diagnostic phase is essential to determine where automation will have the most immediate impact. Next, choose your priority area. Whether approvals or accounts receivable poses the biggest challenge, focusing on one domain allows for a more controlled and successful rollout.

Once you’ve identified your focus area, it’s important to engage the right stakeholders. This includes finance leads, IT (to ensure integration), and executive sponsors who can champion the initiative. Deployment can then proceed using out-of-the-box templates or tailored configurations, depending on your team’s requirements.

Finally, be sure to track KPIs after implementation. Common metrics include DSO, approval cycle time, and the number of manual interventions eliminated. These indicators not only demonstrate ROI but also build the case for further automation investments.

Final Thoughts: Becoming a Strategic Finance Function

The role of the finance team has evolved. No longer limited to number-crunching and compliance, today’s finance leaders are expected to drive strategy, deliver insights, and enable agility across the business. Achieving this elevated role requires the right technology stack—one that empowers, not encumbers.

NetSuite provides a powerful ERP foundation. But it’s by augmenting that foundation with tools like ApprovalMax and Kolleno that finance teams can truly unlock their potential. ApprovalMax removes the friction from approvals, giving teams the control and agility they need. Kolleno tackles the traditionally manual world of AR, bringing automation and intelligence to cash collection and reconciliation.

It’s not about adding tools for the sake of it. It’s about giving finance the power to operate smarter, not harder. By recognizing when to enhance, implementing with purpose, and tracking results, finance teams can evolve from operational support to strategic leaders.

Ready to upgrade your finance workflows?

Book a personalized demo with Kolleno or ApprovalMax to see how your NetSuite environment can go from good to great.

Watch the full webinar to learn all the insights.