If you’re looking for a cloud-based business management solution that can handle everything from accounting and inventory to ecommerce and CRM, you might want to consider Netsuite ERP. In this article, we’ll explain what Netsuite ERP is, how it works, and what benefits it can offer to your business. We’ll also show you some examples of how other businesses have used Netsuite ERP to streamline their operations, improve their performance, and grow their revenue.
What is Netsuite ERP?
Netsuite ERP is an all-in-one cloud business management solution that helps organizations operate more effectively by automating core processes and providing real-time visibility into operational and financial performance. With a single, integrated suite of applications for managing accounting, order processing, inventory management, production, supply chain and warehouse operations, Netsuite ERP gives companies clear visibility into their data and tighter control over their businesses.
Netsuite ERP is part of the Netsuite platform, which also includes modules for CRM, HR, professional services, ecommerce, and more. All of these modules share a common database, which means that information from across the system updates in real time and is accessible to authorized users across business functions. This gives leaders a real-time, 360° view of the business so they can see which processes or departments are excelling and which need a boost.
Netsuite ERP uses the software as a service (SaaS) model, which means that 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, but also 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. Netsuite ERP is used in more than 200 countries, supports over 27 languages and 190 currencies — and can handle your global business with ease.
How Does Netsuite ERP Work?
Netsuite ERP works by providing a comprehensive and customizable set of applications that cover all the essential aspects of running a business. Here are some of the key features and benefits of Netsuite ERP:
- Accounting and finance: Netsuite ERP automates and streamlines accounting processes, such as billing, invoicing, collections, revenue recognition, tax management, and financial reporting. It also provides real-time financial insights, such as cash flow, profitability, budgeting, and forecasting. You can easily integrate Netsuite ERP with your bank accounts, payment gateways, and other third-party systems to simplify transactions and reconciliation.
- Inventory and order management: Netsuite ERP helps you monitor inventory levels, minimize carrying costs, and deliver orders on time. It also enables you to manage multiple warehouses, locations, and subsidiaries with ease. You can track inventory movements, transfers, adjustments, and cycle counts with barcode scanning and RFID. You can also automate order processing, fulfillment, and shipping with integration with carriers and logistics providers.
- Supply chain and production management: Netsuite ERP helps you optimize the flow of goods across the value chain, from suppliers to customers. It also supports various production methods, such as make-to-stock, make-to-order, assemble-to-order, and engineer-to-order. You can plan and execute production schedules, manage bills of materials, track work orders, and monitor quality and costs. You can also collaborate with your suppliers and partners through a secure online portal.
- Warehouse and distribution management: Netsuite ERP helps you increase warehouse efficiency and accuracy by optimizing the putaway, picking, packing, and shipping processes. It also provides real-time visibility into inventory availability, location, and status. You can use advanced tools, such as wave management, cross-docking, and bin management, to improve space utilization and throughput. You can also leverage mobile devices, such as tablets and smartphones, to access and update warehouse data on the go.
What are the Benefits of Netsuite ERP?
Netsuite ERP can provide many benefits to your business, such as:
- Improved efficiency and productivity: By automating and streamlining your business processes, Netsuite ERP can help you save time and resources, reduce errors and delays, and increase output and quality. You can also eliminate manual tasks, such as data entry, reconciliation, and reporting, and focus on more strategic and value-added activities.
- Enhanced visibility and control: By providing real-time and accurate data, Netsuite ERP can help you gain insight into your business performance, identify trends and opportunities, and make informed decisions. You can also monitor and manage your business from anywhere, anytime, and on any device, with access to dashboards, reports, and analytics. You can also set up alerts, workflows, and approvals to ensure compliance and accountability.
- Increased agility and scalability: By using a cloud-based and flexible solution, Netsuite ERP can help you adapt to changing market conditions, customer demands, and business needs. You can easily add or remove functionality, users, or modules, as well as customize and configure the system to suit your specific requirements. You can also expand your business across geographies, currencies, and languages, without worrying about infrastructure and maintenance.
- Reduced costs and risks: By eliminating the need for hardware, software, and IT staff, Netsuite ERP can help you lower your total cost of ownership and improve your return on investment. You can also benefit from the security, reliability, and availability of the cloud, as well as the regular updates and upgrades from Oracle Netsuite. You can also reduce the risks of data loss, theft, or corruption, with backup, recovery, and encryption features.
How to Get Started with Netsuite ERP?
If you’re interested in getting started with Netsuite ERP, here are some steps you can take:
- Request a free product tour: You can request a free product tour from the Netsuite website, where you can see how Netsuite ERP works and what features and benefits it can offer to your business. You can also ask questions and get answers from a Netsuite expert[^7^][7].
- Compare plans and pricing: You can compare the different plans and pricing options for Netsuite ERP, depending on the size and needs of your business. You can also request a quote from the Netsuite website, where you can specify your industry, number of employees, annual revenue, and other details[^8^][8].
- Choose a Netsuite partner: You can choose a Netsuite partner to help you implement, customize, and support your Netsuite ERP solution. You can find a list of authorized and certified Netsuite partners on the Netsuite website, where you can filter by location, industry, and service[^9^][9].
- Prepare for implementation: You can prepare for the implementation of your Netsuite ERP solution by following the best practices and guidelines from Netsuite. You can also access the Netsuite Learning Cloud Support (LCS) portal, where you can find training courses, videos, webinars, and other resources to help you learn and use Netsuite ERP[^10^][10].
Conclusion
Netsuite ERP is a powerful and comprehensive cloud business management solution that can help you run your business more efficiently, effectively, and profitably. It can automate and streamline your core processes, provide real-time visibility and control, increase your agility and scalability, and reduce your costs and risks. Whether you’re a small business or a large enterprise, Netsuite ERP can help you achieve your business goals and grow your revenue.
If you want to learn more about Netsuite ERP and how it can benefit your business, you can request a free product tour, compare plans and pricing, choose a Netsuite partner, and prepare for implementation.
Thank you for reading and have a great day!