If you’re just beginning to consider adopting an ERP system, one of your first questions is likely how this software can help your business. An ERP system serves as a central database for your entire company, offering valuable reporting potential and numerous ways to increase productivity and lower costs across your organization. Those are a few of the key reasons to invest in ERP, but we’re here to help you understand what this technology can do for a business like yours. What capabilities will this system give your business that it doesn’t currently have? How will the technology lower costs and facilitate growth? We’re here to help by breaking down 15 advantages ERP can provide for your business in detail.

15 Benefits and Advantages of ERP

While the concept behind an ERP system is straightforward — unifying all departments and their information on a single system — the benefits are vast. Here are 15 of the most notable advantages an ERP system offers:

1. Data Security

   Data has become a prized possession for businesses because it’s so critical to making the best possible decisions, and ERP software can help protect that asset. The fact that all this data is in one place, rather than spread across multiple systems with varying levels of security, increases the level of protection. It replaces spreadsheets and other documents sitting on employees’ desktops and being passed around via email. With a cloud ERP system, your information is typically distributed across multiple remote servers to establish redundancies and protect against a single point of failure, adding another layer of security. This is especially important if your company handles a lot of sensitive customer data. In another sense, an ERP system can increase data security by limiting who can view and edit data. Most systems have permissions that are easy to control, ensuring employees only see the information they need to and reducing opportunities for fraud or other nefarious activities.

2. Standardized/Centralized Data

   Much of the value of ERP can be traced back to the fact that all information from different departments is stored in one place. Without such a system, data is often spread far and wide across an organization in various applications and spreadsheets, making it harder for staff to track down whatever it is they need. Additionally, this approach often results in duplicate data in inconsistent formats, posing more challenges. An ERP system can help with that, too, by standardizing all your critical data. Since it’s all in one system, everything will be in the same format so you don’t run into issues when running reports or analytics. Standardized information allows you to get all the insights you need to make more informed decisions that help the business save as much time and money as possible.

3. Compliance

   Having accurate, up-to-date records that are easy to find and searchable can really reduce the work required to comply with any regulations your company must adhere to. Customizable reporting tools within the software also make it far easier to track compliance and adjust as necessary. This makes you much more auditable, as well, because all the information an auditor might need to review is easily accessible. Certain ERP systems can even support specific financial standards like GAAP or regulations like the Sarbanes-Oxley Act (SOX). The best solutions will also update to reflect any changes to these regulations so you remain compliant. Staying compliant can quickly become difficult, especially if you’re in a highly regulated industry, but ERP makes it much more feasible.

4. Increased Productivity

   There are countless ways an ERP system can give a major boost to productivity. One way is that it automates many basic, repetitive tasks, freeing up employees to work on other projects that bring more value to the organization. It can also allow them to complete a variety of tasks faster by making processes more straightforward and reducing the time spent searching for the information they need. Since employees have visibility into the entire company, they don’t have to ask around for a specific set of data or details on how certain processes work. Greater productivity also means you don’t have to add to headcount as much as would be necessary without an ERP platform. By removing a significant amount of work from the plates of employees, they can then take on new tasks and focus on projects that use their true skills and expertise.

5. Visibility

   Visibility is another one of the broad, fundamental benefits of ERP — everyone having visibility into various aspects of the business is a powerful thing. It enables faster and better decisions because managers have all relevant context that can assist them. For example, if the purchasing team can see the status of in-transit purchase orders that have not yet reached the warehouse, they can factor that into the orders they’re about to submit to avoid excess or insufficient stock. Visibility into the status of processes and data managed by other teams ultimately helps all teams and individual contributors do their jobs better. It also eliminates the time and effort spent trying to simply find this information.

6. Scalability

   The beauty of leading ERP systems is that you can use the functionality you need now while leaving the door open to add more capabilities down the road. In that sense, the system can scale with your business as it grows and evolves. You can also add new users as your teams grow. There’s no need to get a new ERP solution just because your business has changed — even in big ways — since you implemented the existing system. If your business has rapid growth plans, a cloud ERP system will provide the most scalability. Since cloud systems run on remote servers, it’s a cinch to add the extra resources needed to keep the solution running smoothly — far easier than handling that yourself. That reduces the work put on IT and can eliminate the need to hire a team of technical experts.

7. Mobility

   Employees have become very comfortable using smartphones and tablets instead of computers to complete many tasks, and in light of that trend, today’s ERP systems are mobile-friendly. Since users access cloud systems through the web, they can pull up all the dashboards, reports and other information they need to see in a mobile browser. Many vendors now have mobile apps, as well, that can provide a better user experience on smaller screens. For some companies, mobility is not just a nice-to-have but a need-to-have. They may have workers in the field or employees who travel frequently and must be able to see an up-to-date view of their business from devices other than a computer. These employees can also take care of critical tasks like approvals and monitoring cash flow (AR and AP) when they have a mobile-friendly ERP solution.

8. Cost Savings

   For business owners and leaders, the most convincing reason to buy an ERP system is that it lowers overall costs, often in a big way. The automation we’ve already discussed can reduce or even wipe out many administrative and operational costs. Manual data entry or processes that require long paper trails, for instance, are often eliminated with this software. All the insights this software can provide mean ample opportunity for other cost savings. The ability to monitor the pulse of your organization in one place means you can quickly identify the source of higher expenses, which makes it much easier to reduce costs. Additionally, the improvements to planning that an ERP system enables should prevent rush orders, over-production or over-ordering, all of which can drive up costs. There are countless ways an ERP system can reduce your costs, which is why these solutions often have a fast ROI.

9. Organized Workflows

   As you go through an ERP implementation, it’s a good idea to work with an expert on your system to evaluate processes and determine if there’s a better way to complete that task in the new system. Often, work is done a certain way because that’s how it’s been done for years, not because it’s the best option. So an ERP can help in that way, cutting out steps and making other improvements to make it faster and easier to get things done. Much like an ERP standardizes data, it also standardize workflows. The way one department handles a certain process may differ from that of another department. Even two employees within the AP department may not follow the same steps to make payments, for example. An ERP system should eradicate those discrepancies, ensuring everyone is following the same best practices.

10. Real-time Reporting

    Reporting is without question one of the biggest and most immediate benefits of using an ERP system. The possibilities are endless with the ability to customize reporting across all functions — finance, inventory, orders, procurement, sales and marketing, HR and anything else you can dream up. Whatever you want to measure, or whatever KPIs matter most to your company, an ERP solution can calculate it. You can not only track the performance of different components of the business, but also compare departments to understand what’s driving the business forward and what’s holding it back. It’s essential that your report reflects the latest data, and that’s why real time is so important. If it takes two weeks to receive revenue numbers from the last quarter, that’s not very useful because the information is already outdated and may not be relevant. But if revenue totals update in real time, as each sale happens, you can immediately use it to inform decision-making. This has become critical in today’s fast-paced, hyper-competitive environment.

11. Operational Efficiency

    An ERP solution increases efficiency across your organization since it touches every piece of the business. Everyone from recruiters to warehouse managers to C-level executives should see improvements that help them thanks to greater automation and availability of information. Processes become less time-intensive, which often benefits not just the company, but customers as well. That can reduce operating costs in a big way and generate higher profits. Consider a manufacturer that makes 10 products and has an average profit margin of 20%. With an ERP system, it can easily spot its least profitable products, then work through the data to find that labor costs are much higher for the two items with the lowest margins. After talking to staff, the company discovers that most of the work that goes into making those items is manual and time-consuming. So the manufacturer decides to purchase a piece of machinery that can automate the production of those goods and sees its average profit margin climb to 25%. Just like that, the ERP software has saved the business hundreds of thousands of dollars annually.

12. Better Customer Service

    Just about every business is competing with other businesses for the same customers. That’s why the customer experience is so crucial, and much of that is shaped by the level of customer service a company can provide. An ERP helps companies step up their service because it puts all customer information, from contact details to order history to support cases, in one place. That facilitates faster solutions and a more personalized experience when customers do need assistance. And an ERP system can improve your level of service in another way: more accurate inventory and order information mean customers will almost always receive the right items and orders arrive on time. Limiting those issues will keep your customers happy and increase the chances they turn into repeat buyers.

13. Collaboration

    So many of the benefits we’ve already covered here facilitate collaboration. Visibility into the way other teams work and what information they’re looking at makes it far easier to work hand-in-hand and for staff to reach out proactively when they see an opportunity to help colleagues. No longer are teams operating on an island and using applications that only they have access to and that aren’t integrated with other back-end systems. When employees communicate more frequently and work together, the entire business benefits. Together, they may uncover duplicate work that can be eliminated or brainstorm better ways to take care of daily processes. Lapses in communication or unawareness of what others are working on only leads to problems, but an ERP solution helps prevent those.

14. Flexibility

    ERP platforms are designed to work for companies of all shapes and sizes, which is why the top providers have built deep flexibility into their systems. That flexibility allows users to tailor the system to meet their specific requirements, like unique processes or uncommon metrics. This ability to satisfy your exact requirements is the same reason ERP systems can be complex, but one is not really possible without the other. This flexibility is especially important as your business evolves over time. The most efficient workflows and KPIs may change over time, and this flexibility means the system can still work for your business — there’s no need to replace it.

15. Accurate Forecasting

    Your business can only be prepared for what’s coming if it knows what to expect. That’s where forecasting comes in: it uses a wide range of historical data and sometimes other inputs to predict future demand, revenue, expenses and other numbers. Forecasts are much more accurate once you’re running an ERP system because they’re based on more accurate and comprehensive information, since all that data is now in one place. More accurate forecasts mean you can make the appropriate preparations for what is likely to happen. If sales are expected to climb 30%, you can strategically purchase more inventory or, if you’re a services business, hire more employees with the skills where you expect increased demand. If costs are expected to climb at a higher rate than sales, you can start looking for ways to cut back expenses. Ultimately, better forecasts can help organizations both make more money (by having all the necessary resources available) and lower costs (by not overspending in the wrong places).

Choosing an ERP System

The right ERP system for your business should at least offer the potential to realize all of the benefits we’ve listed here. As you evaluate solutions from different providers, put in the research and ask questions to find out what type of advantages it would offer your company specifically. The best ERP platform for your business will of course vary depending on the specifics of your company, including its size, industry, business model and future goals. What ERP modules would be the biggest difference-makers now, and which might make sense to add down the road? Ensure the system can not only address your needs today, but has the scalability and flexibility to support your organization’s growth and shifting priorities. With that in mind, cloud ERP systems are the best option for a lot of companies. More than half of companies chose cloud ERP software over an on-premises system, and adoption is only going up. Cloud systems greatly reduce the workload put on a company because it doesn’t have to purchase or maintain the hardware the system runs on. SaaS ERP presents even more advantages, as the vendor takes care of all system maintenance and upgrades in addition to hosting the solution. NetSuite is one of the leading vendors of SaaS ERP, with more than 28,000 customers around the globe. With NetSuite ERP, companies can manage their entire business on a single platform. NetSuite has solutions for accounting, inventory management, order management, production, supply chain, commerce and HR to help your entire organization leverage best practices. NetSuite ERP unifies data and processes from all core business functions to offer all of the benefits outlined here, including company-wide visibility, major efficiency gains, scalability, mobility, data security and compliance. And since it’s a system born on the cloud, users can access critical information from any connected device, regardless of where they are in the world. Furthermore, NetSuite is designed to grow with your business, easily scaling up and allowing you to add new functionality as needed. Moving to an ERP system for the first time or upgrading your existing system is a large project, but the advantages this system presents make it well worth the effort. This technology can help your business take the next step by keeping everyone on the same page and providing powerful insights while reducing costs and obstacles. Not using an ERP solution could also leave you at a competitive disadvantage as more companies of all sizes and across verticals recognize the value of having a real-time, complete picture of their business. It’s time to start looking at ERP systems and planning for an implementation, because the sooner you can see these tremendous benefits, the better. Posted by Ian McCue  Source: https://www.netsuite.com/portal/resource/articles/erp/erp-benefits.shtml?cid=Online_NPSoc_Champions_SEOBenefitsofERPCrossword

Exciting news! After working closely together for years, helping our customers benefit from the Fast Four SuiteApps, Novutech now acquires the Solution Provider team of Fast Four, the very first NetSuite Partner in the Benelux ever. After the acquisition in 2022 of Fast Four by Zone & Co, who focuses solely on developing and marketing SuiteApps, the Solution Provider team of Fast Four was looking for a new home and Novutech proved to be the perfect match. We couldn't be happier! Founded in 2012, Fast Four had over the years established a strong reputation around the world as a leading provider of NetSuite services, combining solid experience with smart implementation services and support. In those 10 years, they have helped dozens of companies in the Benelux to maximize the use of NetSuite as their cloud ERP solution.   The acquisition of the Fast Four Solution Provider business marks a major step forward for Novutech. Not only do we almost double in size, both in customer base as well as the number of NetSuite consultants, but we also extend our NetSuite services offering into the Netherlands, on top of our existing offices in Belgium, France and Denmark. Besides increased market presence, this acquisition also brings many other advantages, including the acceleration of global NetSuite development and adoption, deepened customer partnerships, and an increase in our team’s expertise and experience, leading to faster innovation and product improvement. All of this will result in a greatly increased capability to serve our customers with a stronger, more knowledgeable team and to offer a more attractive working place for our consultants. We are thrilled to welcome 18 NetSuite professionals to our existing team of 30 dynamic Novutech consultants, becoming the largest NetSuite consulting team in continental Europe. Adding the 60+ customer base of Fast Four means that we will be serving 120+ NetSuite customers on a daily basis. Novutech offers premium consulting, implementation and support services around NetSuite ERP and provides own developed smart enhancements on the NetSuite platform, such as localisation bundles for France and Belgium, our bank connecting app Connectobank, a dunning bundle and extensions for Intercompany automation. Because of our ongoing preferred partnership with Zone & Co, Novutech will continue to act as Value Added Reseller for all current and future ZoneApps like ZoneBilling, ZoneCapture, ZonePayments, ZoneApprovals, etc. Through this acquisition, Novutech is more than ever committed to its mission to becoming a leading NetSuite Solution Provider, 100% dedicated to NetSuite implementation, optimisation and acceleration, helping European SMEs to leverage their business processes and realize their growth potential.  We would like to thank all our customers, employees and partners for their trust. We are looking to continue our journey with you. Frédéric Szikora and Maxime Lothe, cofounders. Further details can be found in our upcoming press release.

Background

I started my studies in Accounting at EPHEC in 2011. During my bachelor degree, I did an internship of 15 weeks at WinBooks which is a leading accounting software company. I chose the software way because I had a keen interest in IT and it allowed me to have a different approach to accounting. After my graduation in 2014, I worked there for almost 7 years. I first started as Support & Quality Control for the Web Application. I had to test the new releases and help customers when they faced an issue with the software. After a few years, I had the opportunity to work on the new Digitalization Tools. It was really interesting to be able to work on these projects which were designed to relieve accountants of manual booking so that they could concentrate on advice and optimization. I even had the opportunity to lead a small team which was very rewarding. Besides that, I have also been administrator and treasurer of a non-profit organization (a sports club) for almost 10 years now. I am in charge of the accounting booking and everything related to the treasury.

Why Novutech?

Despite all the good things that this experience brought me, I felt the need to discover something else, to live a new adventure. My profile is quite atypical as I have an accounting background but I have never worked as an accountant. So the first question was where I could turn. Did I want to stay in softwares or go back to accounting? I looked at the opportunities in both areas and I found an advert for an IT company looking for a similar profile to mine. At first I didn't know it was Novutech, a company focused on NetSuite. After some research and thanks to the various interviews I had during my recruitment process, I was able to get a fairly accurate idea of NetSuite and especially of Novutech. I was looking for a new challenge and wanted to learn new things. NetSuite could offer me this thanks to the wide range of features that the software offers. It was no longer just about accounting but also about all the flows of a company. For me, having a pleasant workplace and friendly colleagues is important. I found this in Novutech. The values promoted and the various contacts I had with some people confirmed that Novutech was a company that would suit me. That is why I joined Novutech in June 2022.

Novutech’s Journey

As Business Consultant, I assist the different customers on the functional part of Netsuite. This can be small training sessions, installing and configuring new features or helping them to solve problems they may encounter. At the beginning, this was not an easy task due to the wide possibilities the software offers. Nevertheless, thanks to my colleagues who are always available, thanks to the knowledge base and documentation that Novutech has set up but also thanks to the documentation provided by NetSuite, I was able to learn and become autonomous very quickly. At the end of 2022, I started my first implementation project and I'm really looking forward to following the different steps and discovering the Novutech methodology. As an accountant, I also have a special role in all subjects that are closely related to accounting and finance. Together with my more experienced colleague, we provide recommendations to users on good accounting practices. This covers the management of the chart of accounts, VAT, country-specific requirements and much more. Thanks to him and the different subjects, I learn something new every day. In my previous experience, only Belgian accounting was covered, whereas here we have clients in different countries. Apart from that, Novutech offers the possibility to spend time on training. I can take language courses and training on the features offered by Netsuite but I was also able to take a training course on Prince 2. This is something really appreciated. I am really excited about all that I still have to learn and discover at Novutech !

Background

SuiteTax is a tax management engine within NetSuite that helps businesses to determine and calculate tax, taking into account the country and jurisdiction (nexus) of the transactions. It offers a range of features to improve NetSuite's tax capabilities, including support for multiple tax codes and rates, the ability to handle tax exemptions and exclusions, and integration with tax reporting and compliance requirements. SuiteTax is not included as a default feature in NetSuite and must be purchased as a separate app from the NetSuite SuiteApp Marketplace.

Functionalities

Novutech, is taking advantage of the various SuiteApps available on the NetSuite SuiteApp Marketplace to enhance the capabilities of SuiteTax and provide a more customized solution for your clients. Using France localization and country-specific reports can be particularly useful for companies operating in France, as it allows them to access targeted reports and options that are specific to the French market. Mixing SuiteApps can be a powerful way to optimize the functionality of NetSuite for specific business needs. By combining different apps and features, it's possible to create a tailored solution that meets the unique requirements of your clients and helps them to manage their operations more effectively.

• Nexus 

SuiteTax introduces the concept of tax transaction type to NetSuite, which allows you to configure the tax codes that will be applied to transactions based on their type. This can be a useful feature for businesses that need to track and manage tax on different types of transactions, such as sales, purchases, or services. By configuring tax codes based on transaction type, it's possible to ensure that the correct tax is applied to each transaction, which can help to improve accuracy and compliance. SuiteTax also provides a range of other features to support tax management and compliance, such as support for multiple tax codes and rates, the ability to handle tax exemptions and exclusions, and integration with tax reporting and compliance requirements Thus, with Suite Tax, we see the following appear

• Domestic sales: sales transactions within the same territory
• Domestic purchases: purchase transactions within the same territory
• Exports: sales transactions with a foreign entity outside the economic area/common trade 
• Imports: purchase transactions with a foreign entity outside the economic area/common trade 
• Intra-community sales: sales transactions with an entity belonging to a common trade area e.g. Schengen area 
• Intra-community purchases: purchase transactions with an entity belonging to a common trade area e.g. Schengen area

SuiteTax determines the type of transaction based on the information entered for the entity and proposes the appropriate tax code for the transaction. A nexus is a tax jurisdiction or geographic area where a business operates and is subject to its own tax regulations. It can be defined at the country, municipality, city, state, or economic zone level. With SuiteTax enabled, you can create a hierarchy of nexuses, with a national-level nexus at the top and multiple subnexuses below it. A nexus must be assigned to a subsidiary after it is created, in order to allow the system to create default tax codes and tax types associated with that nexus. This helps to ensure that the correct tax is applied to transactions based on the location of the business and the tax regulations in effect for that jurisdiction

• Tax type 

In SuiteTax, a tax type is used to specify the accounts that will be impacted by a transaction. A tax type must be linked to a nexus, which defines the tax jurisdiction or geographic area where the tax type will be used. By setting up tax types and linking them to nexuses, it's possible to control which accounts are impacted by transactions based on the location of the business and the tax regulations in effect for that jurisdiction. This helps to ensure that the correct tax is applied to transactions and that the appropriate accounts are used to record the tax.

• Tax codes

In SuiteTax, a tax code is used to specify the type of tax rate that will be applied during a transaction. A tax code is linked to a nexus through a tax type, which defines the accounts that will be impacted by the transaction. SuiteTax can also be configured to automatically update tax rates with the correct effective date, which can help to ensure that the correct tax is applied to transactions and that the business is compliant with current tax regulations

• Tax schedule 

In SuiteTax, a tax schedule is used to link an item to a set of tax codes based on the type of transaction. This can be useful for applying the appropriate tax to specific items or for grouping items that are subject to similar tax regulations. You can create a saved search and link different items to it, which can be helpful when you want to apply a specific tax schedule to a group of items. Using tax schedules can help to streamline tax management and ensure that the correct tax is applied to transactions. By linking items to tax schedules based on transaction type and location, it's possible to automate the process of applying tax and improve compliance with tax regulations.

• Tax lookup logic

When performing transactions via Suite Tax there is a priority order for the selection of the tax code. Firstly, the Suite Tax engine will look to see if the vendor has a default tax code, which represents the highest level. If the vendor does not have a default tax code then the engine will look to see if the item is linked to a tax code via a tax schedule and if there is no tax code on the item then it will use the ones set by default on the nexus. In order for the system to recognize the correct type of transaction, it is necessary that the address of the entity is correctly filled in as well as the country / nexus in the tax registration tab. Moreover, it is necessary to fill in a tax reg number and to put it by default in the field default tax reg so that the engine will be able to identify the country of the entity and propose the correct transaction type and the tax code which goes with it. Suite Tax allows its users to enter a fake tax registration number, but this feature can be disabled if needed by the users. For EU tax reg numbers the tax suite offers the possibility to perform a VIES check to validate the VAT number. With Suite Tax comes a new subtab on transaction forms called tax details that makes it possible to manually change the default tax code of a transaction if the user wants to apply a different rate to his transaction. To do so the user must click on preview tax button then check the tax details override box. Important: By default, with Suite Tax, the tax point date determines when a transaction is taxed, rather than the transaction date. In most cases, the tax point date is the same as the transaction date. However, the user has the option to manually change the tax point date on the tax details tab or by checking the "Use fulfillment to modify tax point date" box on the nexus page. 

Background

When implementing an ERP, it is crucial to make sure that the users are familiar with the processes and the tool they will be using daily after go-live. Not only that, but the processes have to meet their business needs. To address these matters, every implementation project goes through a phase of user testing, called User Acceptance Testing. During this phase, users will test different processes of interest according to their job and validate them. In this article, we will review how User Acceptance Testing works at Novutech and why it is an important part of every NetSuite implementation project.

How it works

During the Enable part of a project, future NetSuite users are asked to test the processes that have been designed, implemented and tested by our team in NetSuite to meet their requirements. It can go from the creation of a vendor to the closing of accounting periods, and each user will be asked to test the processes corresponding to his/her daily tasks. This phase takes place in a Sandbox environment, which is intended for testing purposes only. Actions undertaken in this environment have no effect on the company’s business, which allows users to test as much as they want. Concretely, a list of scenarios to realize in NetSuite is sent to the appropriate users depending on their future NetSuite. A detailed list of instructions is provided with each scenario in order to make sure that all the steps are clearly understood. At the end of a step, a check is realized to confirm that the user is on the correct path and can therefore go on with the scenario(s). Users can validate a scenario if it meets their expectations, but they can also come back to us if they feel that it should work differently. In that case, we work with them to redefine and rebuild the process in NetSuite if needed.

What are the benefits of User Acceptance Testing?

The User Acceptance Testing phase is important because it provides two main benefits:

• Users start using NetSuite and can therefore get acclimated to the ERP system before go-live.
• Users can provide feedback on NetSuite processes. This avoids unpleasant surprises after going live, as all major processes are validated during the User Acceptance Testing phase.

These two points show why this phase is really centered around the user. It can be time consuming to test all the scenarios but it is beneficial in the long term for future NetSuite users. Indeed, by performing the scenarios in a serious manner, they have the chance to be well-prepared for go-live. From the integrator's point of view, User Acceptance Testing is also the phase which allows to know whether the ERP system is ready to be deployed or not. As stated earlier, during this critical phase, the integrator makes sure that the customer validates the work that has been done.

Conclusion

To summarize, during the User Acceptance Testing phase, future NetSuite users are asked to perform and validate scenarios in a testing environment. It allows them to get familiar with NetSuite and provide feedback on the scenarios they are testing. This phase is therefore a key moment in a project, when users can validate processes and when the integrator can make sure the ERP system is ready to be implemented.

In short

• Testing Processes in NetSuite
• Validate scenarios based on testing
• User Acceptance Testing is beneficial to future NetSuite users

Background

Transactions layouts of any type are necessary for a company. Every company has their own, customized layout. Recently, NetSuite released a bundle named Advanced Localization Features (ALF), which offers the opportunity to have top notch Invoice/Credit-Note’s layouts by default which is a game changer. 

Prerequisites

The Advanced Localization Features bundle has for id : 359132 and can quickly be installed on NetSuite, once it has been provided. ALF is installed, a new dashboard is created in setup > accounting > Customize Invoice Template. On every Invoices and Subsidiaries a new subtab is created called Invoice Configuration.

Functional specifications

The ALF bundle offers a lot of features that are easy to handle and customizable, like the following:

• The logo fits to the invoice, colors of the headers can be chosen and create a unique file.

• All the payment information, legal information that have to be displayed on the invoices can be personalized and displayed in some specific cases only by checking a box. 

The different subtabs

• Labels & text

All the texts that are displayed in the transaction’s form have their default translations ready to be used in 28 different languages. Each customer can have their own specific language. In this subtab you can customize each of the translations of each language if some translations have to be different.

• Subsidiary-specific setup

Depending on the subsidiary, choose if you want to print the layout in the base currency, if the address has to be displayed on the right of the form to send it by post, specify if this invoice is a duplicate or not, print the note related to discounts or also hide the VAT total column if the transaction is not subject to VAT. You’ll also be able to decide the language in which the transaction has to be printed, which legal note you want to display, which bank details should be there and many other useful features.

• Tax Compliance Text

Here you can create the legal texts that need to be on the transaction. 

• Method of payment

The different methods of payment can easily be created in this subtab .

• Bank Details

The bank details that have to be displayed on the transaction can be created in this subtab. Here’s what an invoice looks like by default at the initialization of the bundle.

Conclusion

Companies need more and more customizable invoices templates. This bundle gives the opportunity to have a layout which is complete by default. VAT summary table, footer, header personalized colors, legal information and many more. A bundle which can make the difference thanks to how easy it is to use, install and personalize.

In short

• Building a customizable and unique layout has never been that easy
• Novutech is adapting and using the latest invoice layout features
• 28 languages covered and no code needed
• Easy to maintain, even if it still requires time and knowledge to be fully set up

Background

NetSuite is a great product and has a lot of native solutions to both common and advanced business needs. With some things though, the native solution is just not the right fit. Therefore, we developed a dunning solution with capabilities fit for the specialized needs of our customers. We already have a great bundle with improvements over the standard dunning solution, however, we are also developing an even more versatile and user-friendly version, which we will tease in this article. Let us get to it then, what have we improved upon the standard dunning solution?

Feature Overview

Better overview of the dunning status on the customer record – we think the default dunning subtab could benefit from some additional relevant information, like the overdue balance and the dates of former letters sent. Below in orange is the standard dunning subtab. Below in blue is our dunning subtab with additional information. Choose which dunning letter to send to a customer with higher dunning level – At the time of go-live of the dunning solution, a customer might find themselves directly in level two or three. With the standard dunning solution, they would get a letter worded for someone who already got the previous letters and warnings. This can be extremely detrimental to customer relations, say if they go about their merry ways, and out of the blue get a letter warning of lawyers and whatnot. We do not want that. Our bundle makes it possible to ease into this, by sending lower level letters first. Considering unapplied credit memos at the customer level - The NetSuite Standard Dunning does not consider unapplied credit memos when evaluating the customer’s overdue balance, and by extension also their dunning status. This can lead to major errors, such as the dunning of customers with a credit balance, that has yet to be applied to specific invoices. Novutech Dunning, on the other hand, takes them into account to precisely compute the overdue balance. Dashboard View – We provide dashboard shortcuts to easily get an overview of all customers in the dunning cycle, and shortcuts to initiate overdue balance calculations, the sending of letters, etc. This is not the case for the Standard dunning solution. Custom customer statement - A custom customer statement is provided with the Novutech Dunning bundle. The Standard Dunning solution can only draw upon the account’s default statement template. However, this is often tailored to other needs, and is not specifically designed for dunning. Novutech’s Dunning bundle utilizes a custom statement template, which as a communication tool to customers, should be clear and concise on overdue balances and invoices. No need to create contacts to define dunning recipients - In NetSuite, if you want to define more than one email address to receive dunning letters, you need to create contacts and then set them as dunning recipients. Novutech Dunning allows you to just use email addresses in a string, separated by semicolon, just like on your email client. Consolidated statement in case of customers with parent-child relationship - The Novutech Dunning allows to send a unique Dunning Letter to a customer for the parent company and its children. However, the Consolidated Payments feature must be enabled. Attach the parent's and children's invoices and credit memos to the Dunning Letter - The Novutech Dunning allows to attach the parent's and children’s invoices and credit memos to the Dunning Letter. However, the Consolidated Payments feature must be enabled. Easy reporting of customer status - NetSuite Standard Dunning doesn’t provide a Dunning Overview page to track the dunning status of all customers in one place. We provide such a list, with filters to select relevant subsets of the dataset, based on primary subsidiary, dunning level, date of letter sent, and much more. All there, available on the dashboard.

What’s coming?

We are continuously working on further developing the Novutech Dunning bundle. Currently we are working on exciting new features, like: The ability to exclude a specific invoice from the dunning process. This will exclude the invoice from  both the calculation of the days overdue and the overdue amount for the customer.  Continuous updates. As we are developing the package and adding new features and usability in the future, our customers should of course receive updates and release notes to go with it. Configuration is done at the subsidiary level – How neat would it be, to be able to set all relevant settings on the subsidiary form directly?  This feature grew from the fact that many of our customers are multi-national and have different needs for different countries where they naturally have different subsidiaries in place. We therefore utilize the natural company structure, to segment customers into their primary subsidiary. Our goal is to make it so easy that everyone would be able to set this up themselves. Providing top notch user guides, tips and tricks, and moving complexity from something the user will have to comprehend, to something the code handles intelligently and will dynamically import settings in all the relevant places like saved searches, mass updates, workflows, and scripts. All configurations will be set on the subsidiary form. This allows for a one-stop-shop for all configurations, which include:

• Date ranges for dunning levels (three levels per subsidiary by default).
• Languages (up to five per subsidiary by default).
• Selecting the appropriate email template.
• Printer email address, so for the few customers you want to send an actual snail mail to, you can do so easily.
• Enable/disable different features, e.g. to use a fallback language or enabling inserting the email letter text in the statement, or attaching the overdue invoices in the email alongside the statement.

To sum up, our pack already offers:

• Better overview of the dunning status on the customer record
• The ability to choose which dunning letter to send to a customer with higher dunning level
• Overdue amount is considering unapplied credit memos at the customer level
• An easy to use dashboard View
• Custom customer statement
• To easily add more recipient emails on the customer record. No need to create contacts to define dunning recipients
• A consolidated statement in case of customers with parent-child relationship
• The ability to attach the parent's and children's invoices and credit memos to the Dunning Letter
• Easy reporting of customer status

In Q1 of 2023 we are releasing version 3.0 with features such as:

• The ability to exclude a specific invoice from the dunning process.
• Continuous updates
• All settings are done on the page for the primary subsidiary of the customer
• The ability to have unique dunning thresholds, languages and email templates per subsidiary.

So all in all, we have a great product that already offers a lot over the standard and competitor’s dunning solutions,  and  we are committed to continuously listening to market demands and improving the feature list. Get in touch if this is something you could see leveraged in your company and let us have a talk about the possibilities.

Background

I started my studies in computer science in September 2009 via a BTS Informatique des gestion. Then a Bachelor's degree in computer science with the option of software engineering. On the other hand, nothing predestined me to leave and start working in the field of ERP. It was after obtaining my degree and a professional opportunity that I discovered the world of ERP and the technology around ORACLE. I first started as a development engineer at a software company "INFOELSA" which developed and sold its own ERP specialized in the banking and insurance world. After this first experience of almost 3 years I wanted to see something else and especially to discover an ERP sold directly by Oracle, so I changed employers and went to “Alcyon SI” (a company specialized in Oracle EBS) as an ERP Consultant. During this experience and by participating in a migration project, I continued to develop skills on the product as a technical & functional consultant. Following this experience I wanted to take more responsibility and see the project management part as much on the implementation as on the migration. It is thus as a technical project manager that I integrated a new company "Lojelis". After these several projects on Oracle EBS I wanted to discover a new product more current and recent, so I had the opportunity to start as a Consultant on Oracle NetSuite. I was able to participate in a first implementation project with the responsibility of the technical site. Because I wanted to continue to develop my NetSuite skills and start a new adventure I contacted Nouvutech. In order to participate and be part of the adventure of the launch of Novutech France. I joined Novutech in August 2021.

Why Novutech?

So I chose Novutech to be part of the adventure and the launch of Novutech FR. It's an exciting project to launch this type of structure and participate in the development of Novutech FR and its market. But also and above all I joined Novutech because it is a human-sized company where relationships between employees are very important. It is also a very young and dynamic company where everything goes very fast.

Novutech’s Journey

Today, I've been at Novutech for more than a year and we have gone from 10 to 30 employees. I participate in several implementation and optimization projects but also support (Solar Screen, EnergyVision, Bollé Brands, Sogelink etc ...) My technical and functional skills continue to improve daily on the product through these different projects and business areas. I went from technical analyst to technical consultant at the end of last year and I am now a mentor for two juniors who joined us during the year. This allows me to continue to develop my skills in terms of resource management and coaching. Many other projects are waiting for me at Novutech to continue to develop as a consultant and beyond.

In the late 1990s, “cloud” was not a word most people associated with technology. It was certainly not recognized as the future of software. But a few visionaries saw the benefits and tremendous potential of delivering software over the internet. One of them, Oracle co-founder Larry Ellison, convinced entrepreneur Evan Goldberg of the promise of web-based software, leading Goldberg to launch NetLedger, the company that would become NetSuite in 1998. Today, NetSuite’s cloud enterprise resource planning (ERP) system gives companies all the applications they need to run their businesses efficiently while nurturing growth. Organizations of all sizes and across dozens of industries run on NetSuite, harnessing the vast capabilities of its applications for finance, supply chain, customer relationship management (CRM), human resources, professional services, ecommerce and more.

What Is NetSuite?

NetSuite is a software company that has developed a cloud-based business management platform used by more than 32,000 fast-growing organizations across the globe. That platform consists of a suite of applications that help companies run their business, understand the performance of their businesses and drive major efficiency gains and cost savings. The company’s ERP system manages core functions, including finance and accounting, inventory, orders and procurement. Customers can add options including CRM for sales, service and marketing automation, human resources (HR) for personnel records, performance management and payroll, professional services automation (PSA) to plan and track projects and omnichannel commerce for both online and in-store sales. All of these modules share a common database. Thanks to that central data source, information from across the system updates in real time and is accessible to authorized users across business functions. That gives leaders a real-time, 360° view of the business so they can see which processes or departments are exceling and which need a boost. NetSuite uses the software as a service (SaaS) model: Customers pay a subscription fee to access the technology but are not responsible for any underlying infrastructure or system maintenance, including purchasing and setting up servers, installing software or testing and deploying patches and upgrades. Oracle NetSuite handles all of that for customers, with two new software updates per year. Eliminating the maintenance and upgrade costs that come with on-premises solutions not only saves money, it frees employees to focus on the company’s mission and serve customers. The SaaS model also provides scalability: Businesses can add functionality as they need it without worrying about infrastructure and staff resources. For example, a B2B manufacturer may add NetSuite’s ecommerce module after it decides to start selling online. Ultimately, NetSuite gives businesses visibility and control through a single source of real-time information and the ability to add modules on the fly. That increases their efficiency and agility.

Video: What Is NetSuite & How Does It Work?

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History of NetSuite

NetSuite is often recognized as the first cloud software company. Goldberg and a few partners launched the company, then called NetLedger — a reference to accounting ledgers — in 1998 in an office located above a hair salon in San Mateo, Calif. NetLedger accounting software was hosted on the web, forming the foundation for what Goldberg envisioned as a unified software suite that could eventually replace the disconnected systems that companies then used to run their business. Ellison, a mentor to Goldberg, was a key early supporter — his Tako Ventures invested $125 million to get the company off the ground. Other investors included venture capital firm StarVest Partners and software vendor ADP as well as PaineWebber Group, part of Swiss bank UBS. In 2002, NetLedger became NetSuite after the company added applications for inventory management and CRM. That same year, Zach Nelson took over as the company’s CEO and kicked off a period of rapid growth, as annual revenue climbed from about $1 million to nearly $1 billion over the next 14 years. At the beginning of 2007, NetSuite made waves when famed Oakland Athletics General Manager Billy Beane — the subject of the best-selling book and movie “Moneyball” — joined the board of directors. That year ended with a successful initial public offering (IPO) on the New York Stock Exchange. NetSuite issued 6.2 million shares at $26, raising more than $160 million and giving the organization a market cap of $1.55 billion. In July 2016, Oracle announced it had made an offer to acquire NetSuite for $9.3 billion to support its shift to becoming a cloud software provider. After independent committees reviewed and approved the deal, it closed that November, and NetSuite began operating as a Global Business Unit within Oracle. NetSuite has continued to grow rapidly since the acquisition and has offices and employees around the world.

5 Core Features of NetSuite

Although NetSuite may be the oldest, it is not the only provider of cloud ERP software. So what separates NetSuite from other cloud solutions? Here are five highlights:

1. Unified view of the business: NetSuite empowers any firm to run its entire business from a single platform. It brings together finance, supply chain, manufacturing, HR and ecommerce on one system, with one database, rather than using disparate software for each of those functions. Employees simply log in and, with a few clicks, monitor the status and performance of any aspect of their operations.
2. Native integrations: All NetSuite applications feed information into, and pull it from, the central database to ensure there’s only one source of knowledge. The platform’s natively integrated modules negate the need for third-party integrations that may be unreliable or unable to support real-time updates. This unified architecture delivers a common user interface across all modules; that decreases training time and gets people productive faster. This model also allows users to complete order-to-cash, procure-to-pay and other multi-step processes from a single application without re-entering or exporting information.
3. True cloud: NetSuite was born in and built for the cloud. In contrast, many “cloud” ERP systems are actually hosted or hybrid cloud — essentially, on-premises software retrofitted for access through the internet. Such solutions suffer from many of the problems that plague traditional systems, like version lock, slow upgrades and lack of scalability. NetSuite is a multi-tenant, vendor-managed cloud solution with endless room to support growth.
4. Deep reporting capabilities: The vast amount of data flowing from departments and business units into the NetSuite platform fuels its extensive reporting capabilities. Users can pull reports on everything and anything they may want to measure or understand, thanks to the system’s built-in reporting tools. NetSuite also has role-based dashboards that quickly give employees, managers and executives the information they need to make informed decisions.
5. Built-in flexibility: NetSuite can serve a broad array of industries not only because it comes with impressive functionality, but because it can adapt to meet the requirements of different businesses. The platform can be customized to accommodate your processes and corporate structure through SuiteCloud apps and tools, whether you’re a multinational brand with six subsidiaries or a startup still building its first product.

Products Overview

NetSuite can adapt to meet the needs of diverse businesses because it has a wide array of modules dedicated to critical business functions and processes.

Finance

Financial Management: NetSuite’s financial management solution handles many bookkeeping tasks by automatically updating the general ledger, tracking accounts receivable and accounts payable and submitting invoices. This module speeds up the monthly close and simplifies the creation of key financial reports for regulatory and statutory reporting. It supports complex revenue recognition standards and easily consolidates financial statements from subsidiaries — including business units in other countries — with real-time currency conversion. Global Business Management: NetSuite OneWorld allows multinational and multi-subsidiary companies to manage their entire enterprises in one system. It can handle the diverse needs of global businesses via support for diverse currencies, languages, tax laws and reporting requirements. OneWorld offers financial roll-ups at the regional, country and global level, so decision-makers can get as broad or as focused a view of the business as they desire. Planning and Budgeting: NetSuite Planning and Budgeting gives business leaders everything they need to create detailed departmental or companywide budgets and forecasts. The module also provides financial analysts with access to statistical models that allow them to run what-if scenarios that project revenue, expenses and more based on different possible outcomes. Billing: NetSuite SuiteBilling helps companies manage invoicing and billing. It supports transaction, subscription, usage-based and other billing models, reducing the complexity of managing financials for many modern businesses. SuiteBilling records revenue in compliance with current revenue recognition standards. This module helps businesses stay flexible and profitable.

Operations

Inventory Management: NetSuite Inventory Management provides a single view of inventory across all channels and locations, automatically updating levels in real time. The inventory management module can use sales data to set reorder points and alert purchasing managers when it’s time to place replenishment orders. It also manages cycle counts. All of this functionality helps businesses keep the ideal amount of stock on hand and avoid both out-of-stocks and excess inventory, boosting cash flow and profitability. Order Management: NetSuite Order Management handles the complete order lifecycle, from receipt through delivery, at each stage — as they’re placed, released, shipped and settled with the customer. This module can automate order processing and manage fulfillment across channels based on predefined rules. All of this leads to faster, more accurate fulfillment that reduces shipping costs while increasing on-time delivery rates and customer satisfaction. Procurement: NetSuite Procurement can improve the complete procure-to-pay process to save businesses time and money. Customers can keep a list of approved vendors, collect quotes and automate purchase orders while granularly monitoring performance and spend and enabling vendor self-service and expediting payments. Warehouse Management System (WMS): NetSuite WMS builds on the system’s inventory management capabilities, adding functionality for putaway, order picking, barcode scanning and returns authorization. The WMS module can run on mobile devices to direct warehouse employees through receiving, picking and cycle counting. The application, which also reports on warehouse activity, boosts warehouse efficiency and helps companies fulfill and ship orders faster. Manufacturing: NetSuite Manufacturing is built for companies that make or assemble products. The module helps with production planning and scheduling, shop-floor management and monitoring production to reveal insights and improvement opportunities. It ensures you have all the right supplies and parts in the right place at the right time and allows managers to build, release and track work orders. That visibility into the entire production process can ensure quality, reduce costs and increase on-time delivery. Demand Planning: NetSuite Demand Planning can help plan future demand for the products and services you offer based on historical data, existing opportunities or imported sales forecasts. The module can plan using the moving average, linear regression or seasonal average methods. Demand planning also helps with supply planning, automatically creating purchase and work orders based on the demand plan.

Customers

Customer Relationship Management: NetSuite CRM presents a 360-degree view of customers. Sales force automation features help manage leads, quotes and sales to speed up the lead-to-cash process. Forecasting tools review sales data to more accurately predict future sales. The CRM application also improves customer service by combining all important data, like sales history and active support cases, in one place. Marketing automation tools in the CRM help companies manage campaigns and segment customers so they can be targeted with more relevant messaging. Commerce: NetSuite SuiteCommerce allows retailers, distributors and manufacturers to create outstanding omnichannel shopping experiences. The application allows companies to launch and manage mobile-friendly ecommerce sites with user-friendly tools. Multi-channel, multi-location businesses can connect all transactions and visits by unifying SuiteCommerce with the SuiteCommerce InStore point-of-sale application. The result is better customer experiences on the front end and a seamless order flow on the back end, with all payment and customer information automatically flowing into the ERP.

Additional Capabilities

SuiteApps: SuiteApps are a vast catalog of applications developed by Oracle NetSuite and partners that extend the capabilities of your NetSuite instance, whether through additional functionality or integrations with other SaaS solutions. There are SuiteApps for all types of industries and business needs, and most of them run within NetSuite. Payroll: NetSuite Payroll automates calculations of earnings, deductions, taxes, bonuses and paid time off, accounting for variations in taxes across the United States. With the module, businesses can pay employees via direct deposit or print checks, file payroll taxes and create tax forms (like W-2s and 1099s) for employees. The payroll solution reduces the time spent processing payroll and ensures compliance with oft-changing employment laws and regulations. Human Resources: As NetSuite’s HR system, SuitePeople weaves human resources data throughout the suite. This solution stores personnel information, guides new hires through onboarding and tracks promotions and compensation changes. It gives employees self-service tools to request time off, view directories and org charts and publicly congratulate colleagues, while allowing managers to conduct and track performance reviews. SuitePeople lets employees handle more tasks on their own and helps organizations retain top performers. Professional Services Automation: NetSuite PSA solutions are designed for services companies or services divisions within product companies. This system provides project and resource management, billing, time and expense management and project accounting capabilities. OpenAir can track time and expenses in detail, then automate customer billing based on project milestones or a set schedule. The module delivers better resource utilization, a higher rate of on-time projects and increased profitability. Analytics: SuiteAnalytics harnesses all the data in the NetSuite platform to provide deeper insights, from summary to transaction levels. The SuiteAnalytics workbook enables users to build on saved searches and reports with custom filters and visualizations. Employees can get answers to pressing questions with simple drag-and-drop tools — there’s no need for coding or complex queries.

How Does NetSuite Work?

All NetSuite solutions are delivered through the cloud in a subscription model. NetSuite was a cloud pioneer and remains fully committed to that deployment model — it does not offer any on-premises options. It’s a multi-tenant cloud solution, meaning all customers run on the same version of the software and its back-end infrastructure and regularly receive updated versions, automatically. Each customers’ data is stored and secured separately. This creates economies of scale because everything runs on the same code. Users access the platform securely through a browser from any device, whether a laptop, smartphone or tablet. This flexibility empowers decision-makers to track the performance of their business and be alerted to any problems regardless of where they are, so long as they have an internet connection. Role-based access gives authorized employees the information they need to excel in their roles without viewing data not relevant to their jobs. NetSuite users access all ERP modules, and the functionality within them, through a single sign-on portal — all the key information and tools needed to run your business are in one place. Customers can use simple drag-and-drop tools to personalize their home dashboard with the metrics, charts, graphs, reminders and shortcuts that are most critical to their roles. The same is true for all real-time dashboards throughout the suite.

How NetSuite Can Be Customized to Meet Your Exact Requirements

NetSuite’s SuiteCloud platform allows customers and partners to extend the system’s capabilities and tailor it to their exact business needs. This gives customers the flexibility to meet the shifting business challenges of today and tomorrow. There’s no threat of version lock, as all customizations automatically carry over with platform upgrades. Here’s a quick breakdown of SuiteCloud applications and developer tools: Customizations: This tool makes it easier for developers to create custom fields, forms, records and roles. With SuiteBuilder, companies can tweak the system to reflect their organizational structure and terminology. Process Automation: Developers can build custom workflows for different business processes with SuiteFlow. They can use an intuitive user interface to automate processes like lead nurturing and approvals for purchase orders and sales discounts. Platform Development: Developers and NetSuite administrators can build almost any new application or process they can dream up with this tool. They do this through JavaScript application scripting, and SuiteScript can debug their code. Integration: SuiteTalk enables developers to build custom integrations so data flows smoothly from NetSuite to outside software applications. It does this through a few different integration tools. Application Distribution: This tool helps both customers and partners bundle customizations and applications they develop for faster, easier deployment. SuiteBundler makes it easier for partners to send out new versions of these applications and for customers to apply customizations to different accounts. Internationalization: Create an environment for end-users and administrators that feels completely natural no matter which local language, currency, or tax and accounting rules apply to your global company or offshore subsidiary. Performance Monitoring: Performance health dashboards provide visibility into systems health to maintain optimal performance and stability of your NetSuite account to ensure business continuity and keep users productive, and include integrated tools to rapidly identify root cause issues affecting product experience.

What Type of Businesses Use NetSuite?

NetSuite has become the industry leader in cloud ERP because it can address the needs of businesses of all shapes and sizes. That includes early-stage startups up to household-name enterprises, products- and services-based organizations and companies that sell to other businesses, consumers or both. The more than 32,000 customers that use NetSuite operate in a variety of industries, including:

• Advertising and Digital Marketing
• Apparel, Footwear and Accessories
• Campus Stores
• Consulting
• Education
• Energy
• Financial Services
• Food and Beverage
• Health and Beauty
• IT Services
• Manufacturing
• Media and Publishing
• Nonprofit
• Professional Services
• Restaurants and Hospitality
• Retail
• Software and Technology
• Transportation and Logistics
• Wholesale Distribution

NetSuite supports employees across various departments and roles within these companies, from the C-suite down to sales reps and HR professionals. In addition, the software supports more than 190 currencies, 27 languages and automated tax compliance in 100-plus countries.

How Is NetSuite Implemented?

SaaS ERP systems typically are implemented quickly when compared with on-premises systems because there are no servers to set up or devices to configure. NetSuite builds on that advantage with its SuiteSuccess implementation methodology, an approach that no other software vendor offers. SuiteSuccess, launched in 2017, tailors the implementation to the business based on its industry and size. NetSuite offers SuiteSuccess editions for 12 verticals: agency, apparel and footwear, food and beverage, IT value-added reseller, manufacturing, media and entertainment, nonprofit, publishing, retail, software, solution provider and wholesale distribution. In addition, there are product-specific editions for financials, planning and budgeting, SuiteCommerce, SuitePeople and a starter edition for small, fast-growing companies. The SuiteSuccess approach leverages industry-leading practices NetSuite has developed more than two decades of experience to deliver faster deployments and rapid time-to value, resulting in increased employee adoption — and more success for customers. The system comes with preconfigured KPIs, reports, dashboards and reminders. Many companies have gone live on NetSuite in 100 days or less thanks to the SuiteSuccess methodology. While SuiteSuccess is designed with established best practices, the platform can be configured and customized to meet a company’s exact requirements. NetSuite was built with flexibility in mind and has a team of consultants ready to help customers get the most out of the solution.

How Much Does NetSuite Cost?

Companies subscribe to NetSuite for an annual license fee. That license is made up of three main components: core platform, optional modules and number of users. That annual license fee stands in contrast to the large, one-time payment businesses are charged for a perpetual license to use on-premises systems as well as ongoing maintenance and support. Accounting, inventory management, order management and tax management capabilities are included with the core NetSuite platform. NetSuite’s modular pricing design means customers pay only for what they need, when they need it. As a business grows, it can easily activate new modules and add users — that’s a key upside of cloud software. Because every module is different and delivers unique capabilities, license costs vary. There is also a one-time implementation fee for initial set up. To receive a more detailed quote specific to your business needs or to simply learn more about NetSuite, schedule a free consultation. There’s a reason so many business owners and leaders trust NetSuite to manage their most critical processes and information. It’s a proven, reliable platform that helps organizations of all kinds grow and reach their goals. Having all key business information in a single system leads to more informed decision-making and allows leaders to resolve problems before they cause major disruptions. Simply put, there is no replacement for drawing insights into your operations and running your entire company from one source of data, in one interface. Posted by Ian McCue Source: https://www.netsuite.com/portal/resource/articles/erp/what-is-netsuite.shtml?cid=Online_NPSoc_LI_SEOG2ForAReason  

Novupack Intercompany Solutions

Background

To facilitate the entry of intercompany invoices and bills, Novutech has set up a package called "Intercompany Package" which allows you to save precious time. This package is composed of two solutions: - Auto-bill intercompany creation. - Intercompany recharging suitelet. This package answers a NetSuite limitation. Indeed, the only transaction that can be created automatically is a sales order (from a purchase order). Thanks to these two solutions, the automation of the creation of intercompany bills and invoices is now possible and easier.

NetSuite standard solution

The standard NetSuite system allows you to create a sale order from a purchase order. To do this, simply create an intercompany purchase order. Of course, the user must choose an intercompany item (an item for resale) then go to “Manage Intercompany Sales Orders” On this record, you can select the following information: Intercompany customer, the currency, the transaction date, department, location. The intercompany Purchase Order appear on the list: After selecting all the purchase orders that you want to create sales orders from. You click on Generate Sales Order. The record is then processed: The sales order is generated.

Intercompany Bills & Invoices – Automated Flow

A custom solution has been developed for the intercompany process in order to start from the bill directly and to avoid using the standard process of starting from the sales order and purchase order. When creating an invoice, after filling the record and clicking on save, a bill transaction is automatically created. You can find the link to the bill in the field “Paired Intercompany transaction” and the “Intercompany status” passing to “Paired’ as below: The Intercompany Vendor is linked to the Intercompany Customer on the entity record so the bill can be created with the appropriate vendor: The bill is then created using this information and linked to the invoice:  The intercompany recharging solution: The intercompany recharging solution is a Novutech creation that automates the creation of intercompany bills and invoices. The goal of this solution is to optimise the time spent on the creation of intercompany transactions. It's very quick and easy to use. To use the recharging solution, you go the page “Intercompany Transactions”: From subsidiary: In this field you can put the intercompany vendor. Memo: In this field, you can put the main memo. Date: Date of the transaction. After clicking on next, you arrive on this page: Here, you must determine the customer subsidiary, the segments you want to populate like the department or the location (Other segments can be added), the intercompany item, the line memo, the currency and the exchange rate. After validating these informations the status passes to “In progress”. That means that the transactions are being created. The status changes to completed and the links to the transaction appear. The two transactions are created with the appropriate segmentation. You can also integrate these transactions using a CSV import.

Conclusion

The Intercompany Novupack offers solutions that facilitate the entry of intercompany invoices and thus exceed the limits set by the NetSuite standard. The intercompany solution offers the ability to : 

• Easily create an intercompany bill automatically after creating the invoice.
• Link between the intercompany transactions (Invoice vs Bill).
• Automate the creation of the bills and the invoices using the recharging solution.
• Use CSV imports to integrate the intercompany transactions in mass.

We are of course at your disposal to answer all your questions or to organize a meeting to discuss your needs. Do not hesitate to contact us !

Online Forms

Background

NetSuite offers its users to create and publish online forms available via an external URL. This feature is mostly used in the context of a marketing/CRM follow-up for example customer satisfaction survey. The information received from the online forms will automatically create or update records in your NetSuite account. This feature is therefore only available for the case, client record or custom record created in NetSuite.

Online Custom Record Forms

We are going to present to you a design that we made. The need was to follow the customer satisfaction, but that at the order level. And not just at the customer level as NetSuite offers for example. Therefore we have created a custom record with the appropriate questions for this satisfaction survey, and the field sales order as record is parent to link the custom record and the SO. We have also added a subtab only to show a sublist concerning this custom record. After that we created our online forms linked to our custom record. We have two possibilities either to create a standard online form or to create an online html form. The standard form allows you to quickly create a NetSuite designed form while the online form allows you to create an HTML form template and a linked form. The HTML form means you can develop your own design with a specific CSS for example. Once the template is created and designed, it is necessary to create the online custom form record linked to this template. It is necessary to add all the fields specified on your template design. It is possible to add a return URL once the form is submitted. When the online form is created the external part of this record will show you some info like the number of times it has been viewed and submitted. And very important in our case the url for the external publication. If we come back to our need expressed above, the solution is to send this URL with the SO id to the customer via email during a satisfaction survey campaign. So that when the customer submits the form, the information submitted is directly linked to the SO concerned. ex : https://”id of NetSuite account”.extforms.NetSuite.com/app/site/crm/externalcustrecordpage.nl?compid=”id of your NetSuite account”&formid=3&h=AAFdikaIeK4ck_TKXYS1Xp4rc-CaoITxrrDs-xVBlyk5MJZBgyg&custrecord_nov_so=”id of your SO” And so we will have all the information submitted on the SO concerned in NetSuite.

Conclusion

The solution offered by NetSuite as standard allows you to quickly develop online forms, however the design is a bit simplistic and not very friendly. On the other hand, the possibility to develop your own html template allows you to assign your own graphic style, but it is necessary to have technical knowledge in order to be able to realize this. All this to show you an example of using this online forms feature offered by NetSuite. So that you can come up with a different design yourself.  

Novutech and Oracle training programs

Background

This article outlines the valuable partnership that exists between Novutech and Oracle, and the opportunities for Alliance Partner members to undertake training programs offered by Oracle. I also describe how Novutech uses this alliance to invest in their employees by ensuring all members grow with the company to better serve their clients. Finally, I conclude this article by sharing my personal experiences of Novutech’s investment in me, and the opportunity I was given when I undertook one of the training programs.

Novutech and Oracle

Novutech’s partnership with Oracle can be linked to the established values adopted by our company, and the importance in investing in our employees with “Team First and Talent Development”, and “Excellence” in providing strong professional customer service to our clients. These values are built upon the foundations of internal growth, and as such, we have been recognised as an Official NetSuite Partner and an Alliance Partner with Oracle. By strengthening internal growth, Novutech gives both new and established employees the opportunity to become equipped with the latest tools, knowledge, and methodologies for the efficient administration and implementation of NetSuite. For new employees, the alliance with Oracle allows them to discover NetSuite’s capabilities through a range of different training programs offered to alliance partners, and equally for established employees to build upon their already obtained NetSuite knowledge by undertaking other training programs. One of the major advantages of this alliance includes Novutech employees given the chance to earn NetSuite certifications, and thus provide certified expert advice in implementing efficient NetSuite solutions, and bring added-value to our clients. Investment in Novutechos and SuiteLife Campus Being privy to this alliance, my personal experience in recognising the partnership that exists between the two companies was when I joined the team as a Business Analyst at the end of August 2022. Now an official Novutechos, Novutech recommended that I undertake one of the Oracle NetSuite partner enablement training programs called EMEA SuiteLife Campus, knowing how valuable it would become for new joiners like myself, in gaining an understanding of the core competences of NetSuite and obtaining the basics in Administration and ERP fundamentals. I would be registered for the SuiteLife Campus training program on behalf of Novutech, and the sole member of the Novutech team to have participated in this program. The EMEA SuiteLife program was a six-week virtual training program, facilitated by the team at Oracle, and covered fundamental topics for the implementation and foundational understanding of NetSuite’s core processes. From the beginning of the training program, I would discover how dynamic and powerful NetSuite was at implementing effective business process management, but also the alignment between the methodologies used by Novutech and their alliance partner in Oracle. Whilst I had previous experience in ERP management, I would soon realise the professionalism in NetSuite’s processes, in particular the importance in following guidelines for accounting and tax purposes, and how Novutech consults with clients in making clients aware of their obligations on a financial basis. However, even if Novutech does not offer financial advice, we do have an understanding in efficiently implementing NetSuite to manage our client’s business processes more effectively. The alliance that exists between Novutech and Oracle is greatly strengthened by the active collaboration and constant communication between the assigned Oracle member and the Novutech alliance partner. I would soon become aware that Novutech would do everything they can to ensure that I obtained a successful learning experience from the SuiteLife Campus training program, by communicating with the Oracle member pre-training, during training, and post-training. Continuous Alliance The alliance would not end at the conclusion of the training program, with Novutech employees presented with the opportunity to undertake other training programs offered by Oracle. These opportunities, such as undertaking the training program to become a certified ERP Consultant, is made possible thanks to Novutech’s access to the Oracle NetSuite training programs, offered exclusively to alliance partner members. As such, opportunities in implementing NetSuite are made available to new joiners and current Novutechos, and go as far as providing a sound level of expertise in efficient business processes. A word of thanks Thanks to Novutech for giving me the opportunity to undertake the SuiteLife Campus and for the team at Oracle for facilitating the training program in a virtual environment. As a result, I gained a good understanding of NetSuite’s processes and obtained the knowledge for the Administration and ERP functionalities that would become valuable in implementing the NetSuite application for Novutech’s clients. In short

• Values, Investment, Alliance, Growth, Learning, Collaboration, Communication
• Certified training programs to grow the team’s knowledge