Section and subunit assets are included as part of the overall IEEE Financial Summary. This interactive session will give participants an opportunity to learn how funds are maintained, reported (within the Section and to IEEE), and protected.
Additionally, individuals will be informed about the importance of following proper operational procedures. Attendees will have a chance to ask questions and get feedback on how reporting financial activities to IEEE is being made easier via process improvements. (SC'2011 Breakout Session)
NetSuite Inc. is the world's leading provider of on-demand integrated business application software, serving thousands of customers globally. IEEE has partnered with NetSuite in an effort to implement an on-line financial reporting software which will allow our organization to further automate and streamline the financial reporting process. This software will ultimately create more transparency throughout the financial activities of all reporting Geographic Units and will allow IEEE to report on the financial health of its subsidiaries in a more timely and accurate fashion.
This tool was implemented by IEEE Member and Geographic Activities Department at the request of volunteer leadership to simplify the annual financial reporting process for Geographic Units. Essentially, NetSuite serves as a bookkeeping program for Geographic Units to record and manage all financial activities for the year. In turn, NetSuite consolidates the Geographic Unit finances and provides the financial reports that are used in IEEE Member Geographic Activities Department’s financial reporting process.
Ultimately our goal is to mitigate some of the burden Geographic Unit Treasurer's bear at the end of every year when completing the Financial Reporting process. Here at IEEE, we feel that NetSuite has improved our Financial Reporting process while allowing IEEE to grow and, in joint effort with its volunteers, to advance technology for the benefit of humanity.
Visit IEEE Member and Geographic Activities