NetSuite is a cloud-based business management platform that’s used by more than 33,000 global organizations. The ERP is comprised of a suite of applications that help organizations run their businesses, gain visibility over business performance and realize major efficiency gains and cost savings.
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Want to learn more about NetSuite and how it can help your company streamline its operations, run more efficiently and improve performance? The Sansa Solutions team is here to answer any questions you may have about the Enterprise Resource Planning platform. Here are some of the questions that may be on your mind as you explore your options:
The ERP system manages core functions, including finance and accounting, inventory, orders and procurement. Optional modules include customer relationship management (CRM); service and marketing automation; human resources (HR); performance management and payroll, professional services automation (PSA); and omnichannel commerce.
Here are the ERP’s core capabilities:
- Financial management: The ERP’s financial management solution handles bookkeeping tasks by automatically updating the general ledger (GL), tracking accounts receivable (AR) and accounts payable (AP) and submitting invoices.
- Planning and budgeting: Give your business leaders everything they need to create detailed departmental or companywide budgets and forecasts. NetSuite’s Planning and Budgeting also gives financial analysts access to statistical models that allow them to run what-if scenarios that project expenses, revenue and other metrics based on specific “what if” scenarios.
- Invoicing and billing: SuiteBilling automates the invoicing and billing processes and supports transaction, subscription, usage-based and other billing models. This, in turn, reduces the complexity of financial management for organizations.
- Inventory management: With NetSuite, you get a single view of inventory across all of your channels and locations. That inventory is automatically updated in real-time reorder points can be pre-set and procurement professionals are alerted when it’s time to replenish.
- Order management: Manage the complete order lifecycle—from receipt through delivery—as orders are placed, released, fulfilled, shipped and settled with the customer.
- Procurement: Businesses can save substantial time and money by improving the complete procure-to-pay process. You can keep a list of approved vendors, collect quotes and automate purchase orders all within NetSuite.
- Warehouse Management System (WMS): NetSuite WMS builds on the ERP’s native inventory management capabilities while also adding functionality for order put-away, order picking, barcode scanning and returns authorization.
- Manufacturing: Built for companies that make or assemble products, NetSuite’s Manufacturing module supports production planning and scheduling; shop-floor management; and production monitoring.
- Demand Planning: Plan future demand for the products and services you offer based on historical data, new opportunities or imported sales forecasts.
- Customer Relationship Management (CRM): Use NetSuite’s native CRM to get a 360-degree view of your customers.
- E-Commerce: With NetSuite SuiteCommerce, you can launch and manage mobile-friendly e-commerce sites with user-friendly tools.
- SuiteApps: Developed by NetSuite and its partners, SuiteApps extend the ERP’s capabilities through additional functionality or integrations with other software as a service (SaaS) solution.
- Payroll: NetSuite Payroll automates calculations of earnings, deductions, taxes, bonuses and paid time off, accounting for variations in taxes across the U.S.
- Human Resources: SuitePeople stores personnel information, guides new hires through onboarding and tracks promotions and compensation changes. It also gives employees self-service tools for handling tasks on their own.
- Professional Services Automation (PSA): Designed for services companies or services divisions within product companies, NetSuite’s PSA tools provide project and resource management, billing, time and expense management and project accounting capabilities.
- Analytics: SuiteAnalytics harnesses all of the data in your ERP and uses it to provide deeper insights—from summary to transaction levels.
- Global business management: Using NetSuite OneWorld, you can manage all of your multinational and multi-subsidiary companies on a single system. OneWorld supports diverse currencies, languages, tax laws and reporting requirements.
Because all of the ERP’s data is stored in one, unified database, business leaders and managers have real-time, 360-degree views of their businesses anytime they want it. That means no waiting around for spreadsheets to be reviewed and reports to be generated—it’s all right there at the user’s fingertips. This, in turn, supports faster decision-making and helps organizations operate in a more flexible and agile manner in today’s fast-paced business environment.
The ERP can be connected to many of the most commonly-used third-party applications, including Salesforce, Shopify Plus, WooCommerce, HubSpot, and Adobe Commerce (formerly Magento) among others. Once NetSuite is connected to your other systems, databases and/or endpoints, information will flow continuously between your ERP and those other solutions. If new data is entered into NetSuite, for example, other authorized systems will have instant access to it, and vice versa. This means no more transferring data from one department to the next using spreadsheets; it’s all right there in a single, accessible system.
Yes. NetSuite offers the SuiteApp Marketplace, which features hundreds of quality solutions, built using the SuiteCloud platform. With its “Built for NetSuite” verification program, the company provides an extra level of confidence to anyone who wants to use SuiteApps to get even more out of their ERP investment. The featured SuiteApps includes solutions that help NetSuite users manage sales taxes, handle lease accounting and compliance, manage contracts and orchestrate shipping and logistics.
While NetSuite’s native functionalities cover a wide spectrum, the ERP’s SuiteCloud platform extends those capabilities, thus allowing the ERP to be tailored to your company’s specific business needs. And there’s no threat of version lock because all of those customizations will automatically carry over during any platform upgrades.
With NetSuite in place, you’ll be able to unify and standardize business processes across your entire enterprise. You’ll also have automated business functions across all departments, including sales, marketing, service, finance, inventory, order fulfilment, purchasing and employee management. The “wins” don’t end there. Some of the other benefits that companies see once they implement and start using NetSuite include:
- Improved financial operations, efficiency and productivity.
- Employees no longer have to re-enter data in different systems, rectify inconsistent or
- Inaccurate data, or wait for batch updates.
- Leaders and managers can view and share accurate data in real-time, which supports
- Greater collaboration among departments and increased productivity across your business.
- Customizable dashboards offer real-time access to key performance metrics, supporting
- Intelligent, timely business decisions.
- Full visibility into unified customer records drives more efficient and highly personalized
- Sales, fulfillment and service processes.
- Self-service portals enhance both B2B and B2C collaboration.
- Eliminate the costly and time-consuming integration often associated with using a patchwork of disconnected systems supported by spreadsheets.
- Easily monitor inventory levels, minimize carrying costs, and have the ability to deliver more orders on-time and in-full.
- Better control of the flow of goods across the value chain—from suppliers to customers.
- Error-proof order management and procurement, optimized warehouse put-away processes and fewer order picking errors.
- A highly-scalable ERP that grows right along with your company and supports it as it expands, takes on more customers and explores new business opportunities.
Knowing that organizations of all sizes and across all industries do business around the globe, NetSuite offers a global business management system as an add-on for its leading Cloud ERP platform. Used in over 217 countries and dependent territories, NetSuite OneWorld lets companies manage multiple subsidiaries, business units and legal entities from a single ERP.
OneWorld includes support for 27 languages and 190 currencies, which makes it easy to work with your global customers and suppliers. Also, country-specific configurations help ensure compliance with local accounting, tax and regulatory requirements.
NetSuite releases two scheduled updates to its entire customer base every year (usually in the first and third quarters of the year), and is always adding new functionalities or enhancements to the platform’s existing features. All of NetSuite’s customers are on the same release at all times, and the updates happen automatically. They take about 30 minutes or less and require no intervention on your IT team’s part.
Third-party integrators that help ensure that ERP implementations run smoothly and efficiently, a good partner takes the pressure off your company’s in-house IT department by handling a complex process that the company knows inside and out. With Sansa Solutions as your partner, you also get post-go-live support for as long as you need it. Even better, your support investment can be spread out over time because it never expires (in other words, this is not a “use it or lose it” investment).
As one of the few Oracle-NetSuite Alliance Partners with operations and partnerships in the United Kingdom, EMEA and the United States, Sansa Solutions can handle your implementation from concept to completion, and beyond. And if you’ve already purchased NetSuite, we’re here to help you optimize that investment and get the most out of it. We provide a broad range of best-in-class implementation, optimization, support and training services to enhance your Oracle NetSuite experience. Our unique methodology and highly skilled delivery team help provide maximum returns for our clients across a broad range of industries and features.