Top 5 Benefits of NetSuite ERP

Industries & Type of Companies Served: A major advantage of NetSuite is the fact that it is designed to support businesses across industries, irrespective of size. NetSuite solutions are industry-responsive, and its business architecture is accepted across sectors. It can respond to the complex needs of a multinational corporation with subsidiaries across countries, multiple languages, and multiple currencies. At the same time, it can very well serve small and medium-sized companies. NetSuite industry solutions range across industries like manufacturing, distribution, retail, health care, life sciences, medical devices, financial services, IT services, professional services, software and technology, logistics and transportation, restaurants, hospitality, and more.

Devices & Feature Updates: NetSuite offers updates twice a year. What is interesting to note is that these features are not randomly developed. These are features suggested by users across industries and are the most voted for. The application can be used across devices, making it easy to be used by the team on the go.

Integration with Third-Party Applications: NetSuite workflows are based on industry best practices. Thereby a business need not maintain multiple applications and worry about integrations between them. However, should an organization wish to continue with its existing third-party applications, then NetSuite ERP seamlessly connects with such external systems. This allows users to keep NetSuite as the base system while managing other third-party software like HubSpot, Shopify, Amazon, Salesforce, and others for other functionalities.

NetSuite provides a 360-degree view of your business. Organizations can track their financials and transactional data across any touchpoint from any part of the world in real-time. As a user with authority, he or she can access critical and fundamental information that is updated in real-time. With up-to-the-minute visibility of data, responsibility center heads get to make intelligent decisions and respond to business dynamics with accuracy and speed.  

NetSuite comes with a customizable dashboard, powerful reporting tools, and search capabilities that span key business data. These reports can be created from scratch, set with custom metrics, or specialized calculations. One can drill down into these reports to examine trends or factors. You can also configure the generation and distribution of recurring reports with concerned authorities.

An important advantage of NetSuite is its scalability. NetSuite offers a modular ERP platform. This way, businesses can begin with the basic module, and as the business scales, additional functionalities, business lines, locations, vendors, and users can be added. With over 30 different modules and many add-on applications, these modules can be configured with ease without coding.

Further scaling-up progressions like acquisition, additional subsidiaries, setting up another global location, or adding another business line can be smoothly approached with NetSuite OneWorld.  NetSuite OneWorld is designed to support expansion and growth by enabling multi-entity reporting and cross-entity visibility.  This helps multinational and multi-subsidiary corporations with building consistent processes and global compliances.

4) NetSuite supports Customization

Businesses vary in their processes and needs, and it is imperative to tailor ERP features to these specifics. NetSuite offers unmatched flexibility and customization capabilities. The right NetSuite implementation partner can support your business with custom solutions that can bring maximum impact to your business. These customizations can be with regard to reports, records, fields, workflows, scripts, searches, and forms. This may also call for custom application development that can be then integrated with NetSuite.

In addition to these major custom developments, NetSuite has a solution that gives customization powers for basic tweaks to the users and the administrators with no assistance needed from IT. NetSuite SuiteCloud Platform offers easy-to-use intuitive tools for different kinds of customizations like creating new user interfaces for adding forms or lists, managing business data models by defining custom objects, and so on.

ERPs have been long perceived as indicative of up-front capital investments and high maintenance expenses. This is one of the biggest deterrents for small and medium-sized companies in going ahead with their automation decisions. It is here that SaaS solutions like NetSuite have changed the ERP landscape.

The overall Total Cost of Ownership (TCO) for NetSuite Cloud ERP is considerably lower than comparable on-premise software. With a cloud solution like NetSuite, businesses save on the huge IT infrastructure costs around hardware, software, and associated maintenance costs. Even the spending involved for application implementation and support with cloud ERP like NetSuite is significantly lower in comparison to on-premise ERP. Also as previously mentioned, the pre-integrated front and back-office functionalities help in saving integration and application implementation expenses.

NetSuite’s worldwide adoption not only establishes its acceptance but also validates its effectiveness in helping thousands of SMBs as well as large organizations manage their day-to-day operations and processes more efficiently. A key aspect however is to have the right implementation partner. An ideal NetSuite solution provider would be able to assist you with studying your business processes, identifying challenges, mapping the solution to your processes, executing the solution, and offering crucial post-implementation support.