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NetSuite and its Benefits

If you follow us, or if you browsed our website, you know that we are focused 100% on NetSuite. So why did we choose NetSuite, and why should your company choose it? 

Here are some elements that will shed some light on NetSuite’s best features and how they will help your business grow.

What’s NetSuite? 

NetSuite is the leading Cloud ERP solution, enabling companies to manage all key business processes in a single system. The solution offers a wide range of features including consolidated ERP, CRM, retail, manufacturing as well as e-commerce features, and many more.

As a cloud-based solution, NetSuite provides a fully unified business management system throughout the important processes of a company.

As you can see, the cloud environment is only one of the many NetSuite benefits. That is why, in this article, we will present several advantages of the software that differentiate it from its competitors.

The Benefits of NetSuite

1.     The cloud

NetSuite is a 100% cloud-based solution. But what does that mean exactly?

With a 100% cloud-based solution, all users are operating on a single system version. It is a real asset for companies regarding the ease of deployment and the system upgradability.

Moreover, NetSuite manages the software updates smoothly and without any additional charges. Those updates are run twice a year, on a half-yearly basis.

Last but not the least, no need for your business to rely on on-premise servers, your employees can access your NetSuite environment from anywhere, with any browser.

2.     Integrated system to support all the functions of your organization

NetSuite offers an entire suite of modules that can be tailored according to your company requirements. The software integrates all your corporate processes. From Customer Relationship Management and eCommerce to Inventory and Advanced Warehouse Management, Services Resource Planning, Human Resources, and Professional Services Automation, NetSuite combines it all in one single system.

The deployment of a single system across your organization improves financial reporting along with cost management, streamlines order management as well as procurement processes, and increases overall business productivity.

Thanks to its single integrated system, NetSuite makes you save time and money that can be used to further improve your business operations.

3.     Real-time visibility

NetSuite offers the possibility to customize dashboards and display real-time data that will lead to timely decisions. You can create and access at anytime key performance indicators that will allow you to accelerate your business decisions.

4.     Automation of business processes

NetSuite offers standardized workflows that help businesses identify blocking points, bottlenecks and other costly and suboptimal practices that can be corrected thanks to NetSuite’s standard but flexible capabilities. By automating flows such as order management, billing, approval routing, intercompany elimination, currency revaluation, or monthly closing tasks, you will definitely spare a lot of time that you will be able to dedicate to other activities supporting your growth.

5.     Scalability

NetSuite offers the possibility to choose and add modules according to your company’s needs. Therefore, by selecting the appropriate modules, users do not need to buy unnecessary features.  

This particular characteristic makes NetSuite the perfect tool for growing and ambitious businesses. Thanks to the add-on modules, SuiteApps, advanced integration capabilities, regular upgrades, and facilitated customization functionalities, NetSuite can quickly adapt and provides companies with the necessary tools to follow up with their growth and keep a competitive edge over their competitors.

Add to that a state-of-the-art OneWorld version, including highly localized capabilities, automated intercompany management, easy consolidated reporting, multi-book accounting and flawless currency exchange rates management, and you get one of the most complete and flexible ERP software solutions for international companies.

6.     Ease of integration

NetSuite offers strong Application Programming Interfaces (APIs) that enable the integration with other commonly-used softwares. This is interesting if your company already uses other business applications to handle some workflows, and that you prefer to integrate them into your NetSuite environment rather than migrate to a new add-on module with which your employees are not familiar.

For example, we personally managed integrations with Salesforce, Zuora, Expensify, Kyriba, Cleanshelf, PayEm, NextService and many more.

NetSuite vs Other Cloud Core Financial Management Suites

Let’s now compare NetSuite with its competitors. The figure below shows the Cloud Core Financial Management (CCFM) Suites for midsize, large, and global enterprises in May 2021.

First, NetSuite is a Leader amongst the CCFM Suites. The software scores high in terms of “completeness of vision” and “ability to execute”. This can be explained by the fact that the solution is applicable to a wide range of company sizes and industries (such as business services, manufacturing, high tech, retail, wholesale and not-for-profit) and is especially performant for both product- and service-centric organizations that are in the lower and upper midmarket.

Furthermore, NetSuite has a strong global presence that offers a broad and expanding base of partners capable of supporting the solution.

Finally, NetSuite has gained customers even during a year of COVID, proving that the solution is reliable and robust. Thanks to its efficient implementation methodology, named SuiteSuccess, NetSuite has attracted many customers by facilitating configurations, decreasing implementation time, and providing quick wins.

In Short

  • NetSuite provides a large panel of integrated features in one single solution.
  • The solution addresses a wide market audience by supporting broad market requirements.
  • It is a cloud-based solution which implies an ease of deployment, a fluent system upgradability and an access to real-time data.

Do you want to implement NetSuite or optimize your NetSuite environment? Are you looking for a trustworthy and experienced integration partner?

Sources:

https://rsmus.com/what-we-do/services/technology/erp/netsuite/what-is-netsuite.html

DBSYNC: 9 NetSuite Benefits for fast-growing Companies

https://www.netsuite.com/portal/company/why-netsuite.shtml

https://blog.worldsynergy.com/netsuite-erp-benefits/

https://www.gartner.com/doc/reprints?id=1-25ZT90VX&ct=210510&st=sb

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