NETLOAN IS A LOAN TRACKING & MANAGEMENT TOOL BUILT NATIVELY IN NETSUITE
DENVER, CO, Jan. 8, 2020 – Today, Netgain announced the Built for NetSuite verification of its latest product, NetLoan, a loan tracking and management solution built natively in NetSuite. NetLoan is the third solution developed by Netgain to achieve this verification. Other Netgain products include NetLease, an ASC 842, IFRS 16 & GASB 87 compliant lease accounting solution, and NetAsset, an advanced fixed asset management tool.
‘Built for NetSuite’ verification identifies SuiteApps that meet the same level of standards for security, data privacy, and overall quality as the solutions offered by NetSuite. The Built for NetSuite program is designed to give NetSuite customers additional confidence that SuiteApps have been built to meet these standards.
NetLoan is a native solution, built on NetSuite’s world class ERP platform so companies can best leverage their existing investment and expertise in NetSuite, therefore eliminating the need for a third-party integration. It allows companies to capture key details and documents for each loan from origination to payoff.
NetLoan capabilities include integrated AP management, complete amortization schedule generation, loan payment forecasting, capitalization & amortization of loan origination fees, and bulk processing. It allows for payments to be allocated between principal & interest and accommodates balloon payments and loan modifications.
Because the solution is native NetSuite, loans are directly integrated to the accounts payable process, making vendor payment reconciliation seamless. NetLoan allows companies to capture financial and non-financial data associated to loans, all within a unified system with a robust end-to-end audit trail. Therefore, loan data is visible in real-time, ensuring companies never miss a key date. NetLoan includes comprehensive dashboards, forecasting, and reporting on the loan portfolio.
“We are very excited for the BFN verification of NetLoan,” said Adam Riches, Partner at Netgain. “Customers are finding huge value in increased transparency, auditability, and automation around their debt management processes.”
About Oracle NetSuite
For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides a suite of cloud-based applications, which includes financials / Enterprise Resource Planning (ERP), HR, professional services automation and omnichannel commerce, used by more than 15,000 customers in 203 countries and dependent territories. For more information, please visit www.netsuite.com.
Netgain is a SuiteCloud Developer Network partner focused on creating native NetSuite solutions that address complex finance and accounting challenges. At their core, they are accountants focused on simplifying, standardizing, and automating solutions with a focus on controls and auditability.