NetSuite Industry Solution
NetSuite has been helping organizations grow, scale, and adapt to change for the past 20 years. NetSuite’s ERP has been catering to organizations across industries in unlocking growth by way of delivering visibility, control, and agility. From an advertising agency to a power generation and transmission company, organizations globally have been digitally transformed with NetSuite. With the cloud-based business management suite, NetSuite has helped these businesses run and manage their processes better with major efficiency gains and cost savings.
Being one of the front runners in the Cloud ERP technology, NetSuite has offered solutions that are unique and responsive to industries. NetSuite serves a wide range of industries like Pharmaceuticals, Distribution, Manufacturing, Financial Services, Retail, FMCG, Energy, Professional Services, and Hospitality, to name a few.
NetSuite for Pharma
The healthcare and life sciences industry goes through enormous changes on a regular basis, and the pandemic has only accelerated them. With constant updates on local and global compliances, industry, and government regulations, and changing customer and market conditions, there is an escalated pressure to control business processes and costs. It then becomes crucial for the organizations in this landscape to quickly adapt and respond to these changes. NetSuite has deep experience in the sector and offers a complete cloud-based business management suite to improve visibility, reduce complexity and minimize cost.
In the case of Clinical Pharmaceutical Companies, clinical trials move from one stage to another really fast. As the trials for efficacy occur in different countries simultaneously, NetSuite helps them in managing global financial processes with a single system.
Many Hospitals, Laboratories, and diagnostic centers use third-party applications. These applications are seamlessly integrated with NetSuite. They track their financial performance in real-time with NetSuite’s financial reporting and auditing tools. Besides this, with capabilities like budgeting, billing, subscription billing, revenue recognition, and financial consolidation, they streamline invoices from multiple applications to a single platform for quicker consolidations.
Healthcare and Surgical facilities maintain and manage electronic medical records consisting of patient medical records, lab reports, diagnostic tests, and other patient details in a single source. NetSuite integrates electronic health records that will help medical professionals, surgeons, and attending doctors to access patient data whenever required.
There are Medical Equipment Manufacturers and Distributors who have been digitally transformed with NetSuite. NetSuite manufacturing management software helps them control and manage their manufacturing and supply chain processes. It helps with activities like ensuring the inventory is in the right place, work orders are monitored during the production process, vendors and purchases are managed accurately, and inspection plans, quality criteria, and monitoring results are managed in real-time.
NetSuite for Manufacturing
NetSuite’s cloud platform is the accepted business architecture by many modern manufacturing companies across sectors. This cloud architecture enables flexibility, agility, control, and visibility to manufacturing businesses and frees up time to focus on innovation rather than spending time maintaining hardware and software. Industrial Manufacturers prefer NetSuite for the functionalities of improving order and inventory management and capturing operational data. By moving to the cloud with NetSuite, these companies have been able to replace their in-house developers focusing on maintaining their old system with a more versatile IT team with a stronger focus on data and system administration. Many Electronics and High-Tech Manufacturers have chosen NetSuite’s ERP for inventory and order management, eCommerce, financials, and CRM. With NetSuite Light Manufacturing, they are using work orders and assembly capabilities for greater speed and control in production. With Advanced Inventory, they are able to plan across multiple SKUs and distribution centers. NetSuite OneWorld enables seamless management and financial roll-up of subsidiaries and locations. Both parent companies and subsidiaries can develop standard business processes and deploy them across a single suite.
NetSuite for FMCG Distribution and Manufacturing
Today, Consumer Packaged Goods manufacturers are on the lookout for newer revenue streams, wider distribution coverage, and cross channels to get their products into buyers’ hands. NetSuite is helping them keep up. NetSuite’s cloud architecture enables cross and omnichannel distribution of products, and easy addition and deletion of product and business lines according to requirements.
NetSuite Demand Planning module provides the ability to plan, forecast, and predict required inventory with the help of historical demand and forecast. The Procurement module enables manufacturers to automate and streamline the entire procure-to-pay process. Supply chain management features like product data management, supply chain control tower, inbound shipment management supports the FMCG businesses in delivering value.
In the case of Food and Beverage Distributors, amongst other features, NetSuite supports modules on inventory and order management, eCommerce, financials, and CRM. With a modern supply chain controlling multi-location inventories, these businesses can manage inventory, orders, customers, and vendors across all the touch points like Web, Mobile, B2B Marketplace, and more.
NetSuite for Energy
Energy and Utility companies have to work around the changing regulatory requirements and the inherent capital expenditures. NetSuite’s unified business model allows them to streamline and optimize its operations for sustainable growth. These businesses use NetSuite to modernize existing infrastructure, make investment decisions in alternative energy sources, explore new revenue streams, and expand the business. With features like financial management, budgeting and forecasting, CRM, revenue management, inventory and supply, expense management, and analytics, NetSuite is enabling Energy companies to focus on what matters most: time to market, cost-efficiency, and automation. Solar Manufacturers and Installers are going for unified cloud solutions like NetSuite ERP to merge their financials with activities like projects, milestone tracking, permit management, job costing, and others.
NetSuite for Retail
NetSuite ERP is developed by incorporating the leading practices for retailers. It offers the best-of-the-breed capabilities with extended ERP capabilities, making NetSuite ideal for retail. The cloud architecture seamlessly integrates Financials & accounting with Order management, Inventory management, CRM & e-commerce to streamline & provide modern multi-channel and omnichannel possibilities to your business. Supermarket stores benefit from moving from their entry-level software and third-party solutions to NetSuite to support their eCommerce plans. These stores are able to consolidate financials, eCommerce, point-of-sale, and campaigns with NetSuite. Also, they can successfully roll up sourcing, sales, and returns into NetSuite leaving no more disparate systems to juggle. Specialty Stores, like for instance health and beauty, are experiencing reduced order processing time owing to the automated order-processing workflow. With real-time inventory visibility, inventory details are updated instantly as and when new orders arrive without any delays for quick order processing. NetSuite CRM assimilates and manages interactions with current and potential customers, partners, and suppliers at a single point.
NetSuite for Professional Services
Professional Service businesses like IT and ITES, accounting firms, legal firms, management consultancy, advertising agencies, digital marketing firms, and workforce recruitment agencies, are a few kinds that are using the NetSuite Professional Services Automation solution. With extensive features, NetSuite supports an entire range of requirements ranging from resource management to expense tracking, from project management to advance billing and invoicing. With the offerings covering cloud-native ERP solutions as well as best-of-the-breed solutions, professional services have everything covered from project management and resource optimization to accounting and financial reporting.
Schools and Educational Organizations have evolved, and their operations are complex and multi-layered. The industry is marked by heavy compliances, manual processes, extensive coordination between multiple branches, and the existence of data silos. NetSuite’s product features are designed to assist educational organizations in addressing these challenges while enabling them to grow and scale.
With NetSuite’s modules on financials, budgeting, and reporting, schools and campuses can get full visibility into their financials, track electronic payments, book values, streamline back office, and much more. NetSuite offers an extensive CRM module for schools, colleges, and other educational organizations offering complete control over the lead-to-cash cycle, managed relationships with 360-degree views, tracking and growing of target segments, and effective workflows. With the unique feature of fundraising, educational campuses can manage donation cycles, process grants, and speed up pledge-to-cash cycles.
NetSuite OneWorld supports schools, colleges, or educational institutions to expand multi-country, given that cross-country academic collaboration is rampant now. From managing multi-country legal compliances to a global CRM, NetSuite can support campuses' scale digitally
Role of an Implementation Partner
Irrespective of the industry, any business that is contemplating moving to the cloud with a dynamic solution like NetSuite ERP, needs the right implementation partner. Only a thoroughly planned implementation is bound to honor your set timelines and budget. A partner with an accredited implementation methodology, domain expertise, and support program can help you maximize your ROI on your ERP investment.