What Is NetSuite ERP? Explained

Most businesses that use outdated technology are stuck relying on disparate systems. These systems are experiencing a significant time sink with manual processing across all departments and are driving inefficiencies. NetSuite is a cloud-based ERP platform that provides businesses with the tools that they need to grow profitably. Around 31,000 businesses across the globe from various industries use NetSuite ERP. NetSuite offers extensive capabilities in finance, customer relationship management (CRM), human resource management, supply chain, e-commerce, and other areas.

If you are curious to know more about NetSuite ERP, read below

What is NetSuite ERP?

NetSuite is an all-inclusive cloud-based Enterprise Resource Planning Platform. NetSuite helps organizations operate more efficiently by automating core organizational processes and offers viability in operational and financial performance.

NetSuite ERP delivers enterprises visibility into their data and closer control over their businesses by combining accounting, production, supply chain, inventory management, order management, and warehouse operations into a single, integrated suite of applications.

How does NetSuite Work?

Business processes are dynamic, and business leaders are trying to keep pace with these ever-changing landscapes. Every organization desires to be at the top of the pyramid of success and wants to achieve productivity and efficiency by automating business processes and delivering a more complete, integrated picture of their business. Becoming a highly competitive company demands advanced access and control across the enterprise.

NetSuite enables organizations around the globe with a suite of cloud-based functions incorporating ERP, CRM, HRM, and e-commerce. It encompasses the spreadsheets functions without piling on integrations, costs, and complexities.

NetSuite is a cloud-based system that allows accessibility of critical accounting and operational information from anywhere, at any time, and on any device.

Businesses get instant visibility into financials, accounting, inventory, warehouse management, orders, customers, and more, giving them the control to make intelligent decisions in real-time.

The NetSuite implementation process is prompt and comprehensive. NetSuite scales as the business grows, whether enterprise owners run companies from the home or office corner.

With the help of NetSuite, business owners can concentrate on what really matters: growing a profitable company.

What are the Benefits of NetSuite ERP?

• NetSuite Planning and Budgeting:

NetSuite ERP technology automates regular and frequent business processes, saving time and money. It enables business leaders to identify areas of improvement and gives them complete control of their spending.

• Business insights:

NetSuite ERP detects significant trends and provides detailed business insights, leading Organizational leaders to make better decisions since they have simple access to all critical data.

• Lesser Risk:

Real-time data reporting eliminates the possibility of errors, which can result in lost sales or fines. Granular access control and clearly defined approval workflows can help to improve financial management by reducing fraud and mistakes.

• Scalability:

ERP software solution brings all core business functions together; this ERP system perceives high scalability and flexibility to meet the company's present and future needs.

• Data security:

The most critical component of any enterprise is data security. The Enterprise Resource Planning system (ERP) is aware that businesses handle sensitive and essential data, which is why NetSuite employs enterprise-wide data security features to prevent damaging cyberattacks.

What are the features of NetSuite?

• Common database:

The ERP system helps organizations eliminate manual integration of different databases and develop centralized and common databases instead.

• NetSuite ERP Integration:

NetSuite ERP consolidates a broad set of organizational processes such as Supply Chain, Marketing & Accounting. ERP software enables integrated systems to connect workflows specifically critical to the organization's success leading to increased efficiency and lower costs.

• Automation:

NetSuite ERP is software that helps automate various organizational tasks such as order entry, payroll, accounting, invoicing, and reporting. ERP system optimizes employee time for more effective working days.

• Consistent UX/UI:

It ensures Interdepartmental User Interface (UI) with a similar User Experience (UX). With In-line UX and UI, users discover and comprehend Enterprise-wide information that promises a productivity surge.

• Data analysis:

Business Leaders get a competitive advantage by acquiring the NetSuite ERP System that customizes data from almost every part of the organization into insightful reports to reveal areas performing well and not functioning as expected.

What Type of Businesses Use NetSuite?

NetSuite ERP is the industry leader in cloud ERP due to its capability to meet the needs of businesses of all sizes, from early-stage start-ups to big enterprises.

It also streamlines the Product- and service-based companies and enterprises that sell B2B, B2C, or both. NetSuite assists employees in a variety of departments and roles within these organizations.

Furthermore, the ERP software supports over 190 currencies, 27 languages, and automated tax compliance in over 100 countries.

NetSuite serves in a variety of industries, including:

  1. Manufacturing
  2. Software and Technology
  3. Transportation and Logistics
  4. Wholesale Distribution
  5. Advertising and Digital Marketing
  6. Financial Services
  7. IT Services
  8. Retail
  9. Education
  10. Energy

How Is NetSuite Implemented?

NetSuite ERP system takes less time to implement than legacy systems because there is no need to put together devices and server setups.

As a Netsuite Solution Provider, we collaborate with the clients to identify critical challenges, define business goals and identify opportunities in the context of system configuration.

A successful and efficient ERP implementation has the following straightforward steps:

  1. In step one: the project begins with a discovery and planning phase that includes defining system requirements, researching and selecting a solution, and forming a cross-functional project team.
  2. The second step begins with designing the software after analyzing existing workflows and planning data migration to the new system.
  3. Step three: includes data importing and ERP software configuration according to business requirements.
  4. During step four; clients can conduct testing. In addition to thoroughly testing new ERP capabilities, clients can validate migrated data and begin initial end-user NetSuite training.
  5. Step five is deployment: After configuration, the system goes live to help users with troubleshooting if necessary.
  6. In the final step, users can concentrate on support and updates, listening to user feedback, and adjusting the system accordingly.

NetSuite ERP implementation took place in these six stages with clear objectives to ensure a smoother, more successful transition.

Why is NetSuite software popular among all ERP software systems?

NetSuite ERP integration enables enterprises to become more efficient, cut costs, streamline business processes, and become more competitive.

Enterprise resource planning is the future for every organization tired of legacy systems and exhausted by manual business processes. NetSuite ERP Business solutions are highly competitive and effortless for small businesses to large corporations.

Some noticeable insights: Why is NetSuite popular among all ERP software systems?

WHY DO COMPANIES CHOOSE NETSUITE? A GARTNER ANALYSIS

Gartner considers NetSuite a complete cloud-based business management suite for Accounting, Finance, Supply chain, compliance, global consolidation, and much more.

A new study identifies NetSuite as a Gartner Leader in MQ for Cloud Core Financial Management for Midsize, Large, and Global Enterprises;

  1. In a competitive technology market, NetSuite is a market leader.
  2. Only NetSuite offers services to companies of all sizes and industries.
  3. Out of all the solutions in Gartner Magic Quadrant, NetSuite has the most cloud financial users.
  4. One of the four software providers in Gartner's Leaders Quadrant is NetSuite.
  5. NetSuite has been acknowledged for "completeness of vision and execution capability."

How is NetSuite better than QuickBooks?

NetSuite vs. QuickBooks

BothNetSuite and QuickBooks offer software to help enterprises manage their accounting processes. However, NetSuite provides more features and support for growing companies.

QuickBooks is primarily accounting software for small businesses; supporting additional complexities requires better and more efficient systems and applications; these systems are not integrated, resulting in more manual processes and more room for error.

On the other hand, NetSuite offers a suite of business management applications that go beyond accounting and finance and integrate customer management, e-commerce, human resources, project management, inventory management, supply chain management, and more without relying on manual processes.

NetSuite reduces operational costs, automates critical business processes, increases productivity, and enables you to do better business.

Ready for Business Growth?

Tap into your true Business potential with TEKHQS

We have empowered various businesses to streamline their operations and help them achieve their revenue goals.

Our team of 200+ certified professionals identifies the needs of enterprises from initial planning to implementation.

As a NetSuite Solution Provider, TEKHQS works to understand core enterprise needs and delivers customized ERP solutions to meet them in a timely and well-planned manner.

Fuel your Business growth with NetSuite powered by TEKHQS.


20 Truman Irvine, CA 92620, US

info@tekhqs.com

© 2022 Tekhqs ®

A notification message..