What is NetSuite Governance, Risk and Compliance?
NetSuite’s governance, risk and compliance (GRC) capabilities empower customers to establish the right controls to meet risk objectives, then monitor and report on the effectiveness of those controls. Built-in processes are designed to handle increasingly complex regulatory, operational and compliance challenges as companies grow. Automation allows for greater efficiency, reduces risk and enhances your ability to track data changes for enhanced financial integrity.
Compliance in the Cloud
NetSuite is built for the cloud and equipped with features to secure sensitive data, including credit card and personally identifiable information. NetSuite is externally audited to SOC 1 Type 2 and SOC 2 Type 2 (SSAE18 and ISAE 3402) standards as well as ISO 27001 and 27018, PCI DSS and PA DSS.
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NetSuite Governance, Risk, and Compliance Benefits
NetSuite Governance, Risk and Compliance Features
NetSuite includes a host of extensible, automated controls, with powerful search and reporting capabilities. Easily automate and tailor the Suite with custom preventative and detective controls using workflows, SuiteScripts, saved search alerts and custom fields. Automating these processes minimizes or even eliminates labor-intensive and error-prone back-end reviews.
Role-based security, user access management and authentication models are easily understood, managed and audited. Robust, always-on audit trails for configuration, customization, administrative and master data changes allow finance leaders and auditors to quickly and easily investigate activity with the potential to impact security, controls or financial statements.
Third-Party Audit Reports
NetSuite provides a superior compliance foundation with an array of supporting independent reports and certificates — including SOC 1, SOC 2, ISO 27001, ISO 27018, PCI-DSS, PA-DSS, EU Cloud CoC and more — to meet your organization’s risk and control requirements and ensure the accuracy of financial statements. Further, NetSuite's partners extend and deepen our native functionality, so you can confidently anticipate and address changes in security, segregation of duties and configuration while automating your control processes.
NetSuite employs overlapping technologies and processes to tightly control access to its networks and applications. Unauthorized data center access attempts are blocked, and unauthorized connection attempts are logged and investigated. Enterprise-grade antivirus software blocks malware before it can do damage.
Audit and Compliance Reporting
Electronic audits are now common practice in many countries for both external and government tax auditors. NetSuite supports audit file formats for SAF-T (all OECD countries), GDPdU (Germany), IAF for Singapore and many more. With NetSuite, you get an always-on audit trail, built-in analytics, access logs and workflow management. The ability to drill down — from summary reports to underlying transaction details — provides transparency so companies can demonstrate ongoing compliance with local statutory and regulatory requirements.
Securing Master Data
NetSuite provides features to secure master data, including:
- Roles, permissions and restrictions
- Groups and audiences
- Scripts and workflows
- Multifactor authentication
- IP-address restrictions
- Field-level security
Challenges NetSuite Governance, Risk and Compliance Solves
Spark ideas with success stories from NetSuite customers.
Guides & Blogs
Go deep into topics around NetSuite GRC.
- 5 Controls Vitals to Effective Governance, Risk and Compliance (Blog)
- 7 Ways ERP Can Improve the Odds of IPO Success (Blog)
- Why GRC Should be Embedded in Your ERP System (Guide)
- Compliance Ready: NetSuite Third Party, Audited Reports (Guide)
- Five Critical Steps to Prepare Your Business for New Funding (Guide)
Discover best practices and learn more about GRC from beginner to advanced levels.