NetSuite, created in 1999, is widely recognized as the first cloud computing software business. And it is currently the market's leading cloud solution, with combined ERP, CRM, and e-commerce functionalities.
Its cloud-based software allows businesses to handle critical business activities in a single system. It is very efficient due to its modular approach and cost-effective due to the lack of hardware, upfront license costs, or maintenance fees, and it is simple to set up. One can approach some of the best NetSuite Consultants to help with the process.
These are only a few of NetSuite's advantages for growing businesses. In this article, we will go through the most crucial ones for faster growth.
In a Nutshell: NetSuite
According to NetSuite, users may manage their business from the moment a customer contacts the company through the ordering, management, delivery, billing, and accounting of products. A single system supervises the entire company process.
An Enterprise Resource Planning (ERP) System for Growing Businesses
NetSuite has its foundation on a subscription model, which many small businesses find appealing because it allows them to pay only for what they need. Users can save money on the original purchase and time spent updating the software for this reason.
Businesses can use the standard software suite containing ERP and CMR core capabilities. Companies that require other, more advanced modules, on the other hand, can license them on demand.
In general, businesses can purchase a bundle of modules tailored to their industry or cherry-pick only the modules they require.
9 Advantages Of NetSuite For Business
1. Variety of features
NetSuite is suitable for many sectors and business sizes. It comes pre-loaded with features for Manufacturing, Software, Wholesale Distribution, Professional Services, Nonprofits, and Retail/E-commerce businesses. All of this is in a single ERP solution.
2. Pricing strategy
NetSuite's modular approach is also worth mentioning. In essence, it allows customers to choose and license only the modules they require. It gives the user more control and lowers costs.
3. NetSuite Integration Ease
One of NetSuite's main advantages is having sophisticated APIs that allow it to integrate with other critical software applications. It is done directly or through a platform for integration (iPaaS). Salesforce and NetSuite integration, for example, is one of the most popular integrations since many customers want to keep using Salesforce CRM while also implementing NetSuite ERP in their enterprises.
4. Greater visibility
When it comes to making educated judgments, real-time visibility is critical. Users don't have to waste time extracting and tying data from numerous sources because data is instantly accessible. It enables more accurate and rapid reports, resulting in faster decisions.
Furthermore, rather than silos of data, NetSuite pools data across the entire enterprise, resulting in more powerful insights.
5. Accelerate growth
With integrated software in place, you can expand to many locations & open new sales channels much more quickly. The advantages of combined order and accounting management processes and data are as follows.
6. Your company's information is centralized
NetSuite is a software solution that manages your entire company. Information flows effortlessly among all departments thanks to a single, integrated system. Employees won't have to manually enter data while delivering reports to another department this way. Manual entry frequently results in information errors & inaccuracies and time spent on low-value jobs.
7. Processes are being extended to the supply chain
An extended organization's benefit is the ability to work closely with customers, suppliers, and partners. Self-service portals that improve B2B and B2C collaboration are conceivable to provide. NetSuite provides timely notifications regarding partner-specific events, allowing you to shorten process cycles and maintain your position as a preferred partner.
Due to multiple currencies, multiple languages, multiple subsidiaries, and related functions, fast-growing companies may decide to go global at some point. NetSuite can scale to that extent without difficulties. Instead of undertaking an infrastructure change, a company can expand horizontally by adding more people to the subscription. Additional modules are added to the ERP system if it moves vertically into new operations. In general, the company may rest assured that the system will not stifle its expansion.
9. Expansion and customization
NetSuite is widely known as the world's most customizable SaaS solution. NetSuite's SuiteFlex allows for a level of customization, as the user can set up all of the modular implementations with a few clicks rather than scripting. You'll also be able to adapt business procedures to match your company's individual requirements with the help of industry-specific modules.
Integration With NetSuite
Using an iPaaS solution like DBSync, Netsuite may link with other apps. This platform offers a highly customized NetSuite connector that is able to connect your NetSuite account to several other apps, including Salesforce, SkuVault, and MSCRM. It also allows you to link your NetSuite account to many databases, including Oracle, MySQL, and Microsoft SQL Server. These programs can be installed on-premises or as a SaaS service.
With a trigger and one or more rules, the NetSuite connection exposes all standard and custom objects available within the connected user's NetSuite instance. The reading components are defined by the trigger, which then link to the receiving apps via rules that contain mappings. These mappings are very configurable and simple to construct using a drag-and-drop interface.
A single NetSuite account, complete with login credentials, is represented by each NetSuite connection instance. If a user wants to connect to numerous instances of sandbox or production data, he can do so by creating different connections and configuring each URL & login credentials separately.
A noteworthy aspect of the DBSync platform is its online updater, which allows consumers to get all of the product's numerous features accessible in new releases automatically.