Industry-Leading Netsuite ERP for Success and Growth

Introduction to Netsuite ERP

Netsuite ERP delivers a unified platform to streamline mission-critical processes across finance, supply chain, manufacturing, inventory, order management, customer relationship management, commerce, and more. With real-time visibility into the entire business, Netsuite helps organizations improve efficiency, compliance, and decision making.

What is Netsuite ERP?

Netsuite ERP is an end-to-end cloud ERP solution designed for modern businesses. It unifies business processes across departments into a single, integrated system accessible from anywhere via the internet. Core functions span financials, inventory and order management, supply chain management, manufacturing, CRM, commerce, and business intelligence.

As a pioneered cloud ERP solution built from the ground up, Netsuite is highly flexible and scalable to support business growth. The unified data model and single cloud architecture eliminate data silos and redundancy while enabling customization and integration with external applications. With 24/7 access from any device, Netsuite transforms companies with unified visibility and control across the entire business.

Key Features and Capabilities

FeatureDescription
Unified platformUnifies financials, supply chain, inventory, CRM, commerce and HR on a single cloud platform
Role-based dashboardsPersonalized access with tailored workflows and KPIs for any user role
Business intelligenceReal-time reports and dashboards provide data-driven insights
Financial managementComprehensive accounting/finance functions including billing, invoicing AP/AR and more
Order and inventory managementSophisticated capabilities from quote to cash across all channels
Supply chain managementStrategic functions like demand planning, warehouse management and procurement
ManufacturingStreamlined production management from assemblies to work orders and quality control
Omnichannel commerceUnified ecommerce, POS, call center and self-service across all touchpoints
Global cloud infrastructureReliable and secure cloud delivery mechanism available 24/7

Benefits of Netsuite ERP

Netsuite ERP delivers measurable benefits spanning improved efficiency, cost savings, revenue growth, and risk mitigation.

BenefitDescription
Boosts productivityAutomates manual tasks and aligns teams with shared access to unified data and workflows
Enhances customer experienceProvides a 360-degree customer view with consistent interactions across all touchpoints
Increases visibilityReal-time analytics into all business operations to optimize decisions and performance
Drives revenue growthSupports innovation with the flexibility to rapidly launch new business models
Reduces IT costsEliminates expensive on-premise infrastructure by leveraging cloud delivery model
Enables growthCloud-native flexibility allows the system to scale rapidly along with your business
Mitigates riskHighly configurable controls combined with enterprise-grade security and compliance

Evaluating Your Business Needs

Implementing a modern ERP system can transform key aspects of your operations, customer interactions, and strategic decision making. But first, organizations should thoroughly evaluate current pain points vs. desired capabilities to determine if Netsuite matches their unique requirements.

Assessing Your Current Systems

What issues or gaps exist in your current systems? Common pain points include:

  • Data silos limiting visibility into operations
  • Manual processes reducing efficiency
  • Static on-premise systems inhibiting flexibility
  • Limited omnichannel capabilities impacting customer experience
  • Difficulty accessing real-time analytics and insights

Document detailed lists of current challenges across financials, customer service, order management, inventory control, supply chain agility, and business intelligence access. Quantify their impacts to showcase opportunities.

Identifying Requirements and Priorities

With current gaps defined, identify key requirements for desired capabilities. Reach consensus across stakeholders on priority needs and main drivers behind pursuing an ERP initiative now.

For example, top requirements might include:

  • Unified data access
  • Automation of manual workflows
  • Omnichannel commerce
  • Flexibility for innovation
  • Scalability for growth

Assign rankings to clarify which capabilities will deliver the most value or address the biggest pain points.

Building a Business Case for Netsuite

Outline the reasons why Netsuite meets your key ERP requirements better than alternatives. Quantify expected benefits across:

  • Increased efficiency and productivity
  • Improved customer lifecycle experience
  • Higher sales revenues
  • Faster financial close cycles
  • Enhanced supply chain performance
  • Reduced IT infrastructure costs

Including hard numbers strengthens the case for investment and sets the foundation for accurately measuring success post-implementation.

Netsuite ERP Functionality and Modules

Netsuite ERP provides extensive functionality across core business systems and processes. The integrated suite includes a wide array of modules to personalize to each organization’s needs.

Core Financial Management

Transform complex financial processes with unified general ledger, accounts payable, accounts receivable, fixed assets, budgeting, and financial reporting.

General Ledger

  • Chart of accounts customization
  • Journal entries and approvals
  • Allocations and consolidations
  • Multi-book accounting
  • Auditing tools
  • Flexible financial reporting

Accounts Payable

  • Bill and expense automation
  • Online invoice approvals
  • Early payment discounts
  • Check and payment processing
  • Expense report management

Accounts Receivable

  • Invoice creation and delivery
  • Collections management
  • Revenue recognition
  • Credit memo and refund processing
  • AR analytics and reporting

Supply Chain Management

Coordinate intricate supply chain processes including procurement, inventory control, order orchestration, fulfillment, and more.

Inventory Management

  • Real-time visibility into inventory
  • Lot and serial number tracking
  • Reorder point and safety stock alerts
  • Warehouse management integrations
  • Landed cost tracking

Order Management

  • B2B and B2C ordering
  • Omnichannel orchestration
  • Customer specific pricing
  • Partial and back orders
  • Drop shipments and special orders

Procurement

  • Supplier relationship management
  • Contract renewals and workflows
  • Purchase requisitions and approvals
  • Landed cost management
  • Invoice reconciliation

Customer Relationship Management

Unify all customer interactions for a seamless experience across sales, marketing automation, and customer service.

Sales Management

  • Contact and lead management
  • Sales rep quotas and commissions
  • Visual pipeline management
  • Proposal generation
  • Order conversion tracking

Marketing Automation

  • Email campaign creation and tracking
  • Lead scoring and nurturing
  • Landing pages and forms
  • SEO tools
  • Analytics and reporting

Customer Service

  • CRM and case management
  • Customer self-service
  • Refunds and returns
  • Field service management
  • Customer satisfaction tracking

Human Capital Management

Streamline essential HR functions such as payroll, benefits administration, time tracking, and more.

Payroll

  • Payroll processing
  • Direct deposit
  • Tax payments and filings
  • Expense reimbursements
  • Paycheck history

Time and Attendance

  • Timesheet tracking
  • Work schedules
  • Overtime and leave calculations
  • Labor cost reporting
  • Policy exception management

Benefits Administration

  • Benefits enrollment
  • Carrier connectivity
  • Life events configuration
  • ACA compliance
  • Benefits usage analytics

Unique Advantages and Differentiators

Multiple features set Netsuite ERP apart from alternatives to deliver exceptional customer, employee, and business value.

Cloud-Based System

Purpose built from inception as a cloud platform, Netsuite pioneered ERP delivery from the cloud. Benefits include:

  • Automatic software updates
  • Anytime, anywhere global access
  • No IT infrastructure required
  • Consistent experiences across devices
  • Proven security and reliability

By eliminating the constraints of legacy on-premise systems, Netsuite’s cloud model empowers innovation, growth and business agility.

Scalability

Netsuite scales rapidly along with dynamic business needs to run smoothly from 10 to 1000+ employees. The cloud architecture provides flexible computation and storage without capacity limitations. Customization carries forward seamlessly while room for growth reduces risks.

Customization Options

While designed to deliver exceptional out-of-the-box capabilities, Netsuite allows extensive customization to tailor the solution to your exact requirements without adding complexity. Customize screens, forms, records, saved searches, workflows, scripts, analytics and more.

Role-Based Interfaces

Each user sees a tailored interface aligned to their unique responsibilities thanks to built-in role management and personalized dashboards. Contextual visibility improves productivity and decision making with data relevant to every employee’s role.

Integrated Suite

Core modules share a unified data backbone and business logic, eliminating painful data silos or complementary products. Seamless integration enriches functionality while automated workflows bridge systems to boost efficiency.

These advantages empower modern businesses to swiftly outpace competitors by leveraging Netsuite’s feature rich platform.

Implementation Best Practices

Smooth adoption of new technology requires careful scoping of system requirements, user access control design, testing, training, and change management planning. Applying proven best practices paves the way for rapid usage, user adoption and realization of expected benefits.

Defining Project Scope

The first step involves aligning executives, project teams and user groups on rollout scope. Determine which products/business units get included in early vs. later phases. Finalize timelines for staged functionality adoption across priority modules like core financials, inventory and supply chain, manufacturing, CRM, or commerce. Manage complexity by scaling up functional access over 12-24 months. Reaffirm key metrics linked to realizing anticipated benefits to maintaining buy-in.

Data Migration Strategies

Structuring data migration protects system performance while ensuring continuity for operations. Establish conversion templates for critical transaction data and cleanse existing records to improve integrity. Set validations to catch anomalies not passing testing. Determine optimal timing and blackout windows for cutovers by module. Execute a pilot run then validate results before go-live conversion including historical snapshots available in newly structured reports.

User Training Recommendations

Hands-on training develops proficiency and enhances user adoption. Cascade training first to administrators and power users then to end users by functional roles. Accommodate varied learning preferences with multiple modalities – instructor-led sessions, online tutorials, videos, guides and help docs. Measure training effectiveness with surveys and skills assessments for continuous improvement targeting any adoption gaps.

Ongoing Support Needs

The launch of an ERP solution stays high touch across stakeholders until usage matures. Assign product experts as first escalation points aligned to user roles. Create a feedback process for enhancements. Monitor adoption metrics and fine tune change impacts through the transition. Conduct periodic training refreshers and communicate upgrade pathways as new features arrive to demonstrate ongoing commitment and support.

Measuring Success with Analytics

Robust analytics transforms complex ERP data into strategic business intelligence. Netsuite empowers insights into daily operations, customer behavior, financial metrics, and overall performance to drive continuous improvement.

Actionable Insights

Complete real-time visibility into all processes and trend tracking delivers insights to optimize decisions. KPIs, role-based dashboards, and configurable analytics provide clarity while scenario modelling supports planning. Compare actuals against targets to enhance forecasting accuracy. Gain multidimensional understanding of cause and effect relationships. Proactively course correct issues based on deviations from norms.

Data Visualization

Intuitive visualization options including scatter plots, heat maps, pie charts, and pivot tables allow dynamic manipulation of data views for deeper understanding. Spot trends across multiple dimensions and drilldown into granular detail. Visualize root causes and impacts of cross-functional dependencies. Anomaly detection highlights outliers requiring intervention or investigation.

Industry Benchmarking

Compare performance against aggregated industry metrics using built-in scorecards. Filter by company size, location, vertical, performance quartiles and more for optimal peer comparisons. Establish context for metrics evaluations based on relative market positioning. Identify performance gaps driving strategic priority adjustments, investments or capability improvements.

Case Studies Demonstrating Value

Organizations across manufacturing, retail, services and more leverage Netsuite to improve all aspects of business operations and strategy.

Manufacturing

A industrial machinery manufacturer struggled with limited visibility into inventory and supply chain issues due to fragmented legacy systems. By implementing Netsuite, they gained end-to-end control over the entire manufacturing process – from demand planning through delivery. Inventory turns increased by 3x, on-time delivery improved to 99%, and operational costs dropped by 27%.

Retail

A national hardware retailer needed to optimize massive SKU assortment planning and inventory control across 500+ locations. Netsuite centralized visibility into 2000+ suppliers, provided accurate demand signals to adjust local inventory, and delivered a 56% average reduction in out-of-stocks – translating into $8.3 million incremental annual revenue.

Services

A technology services firm with 1000+ concurrent projects historically used Quickbooks. Lacking project costing, utilization tracking and resource management visilibity resulted in missed revenue goals for 3+ years. Switching to Netsuite Cloud Project Management enabled near real-time visibility into project financials resulting in 10-20% gains in operational efficiency, utilization and profitability. The PMO has single-screen visibility to staff projects optimally.

These examples showcase Netsuite’s proven ability to drive measurable impact spanning operational efficiency, customer experience, and topline growth.

Evaluating Alternative ERP Systems

While Netsuite excels as a unified cloud ERP platform, buyers should still evaluate key alternatives like SAP, Oracle, or Microsoft to validate optimal fit. Each option provides varying strengths at different price points.

SAP

SAP offers very broad and deep enterprise functionality yet can suffer integration challenges across acquired modules. It brings substantial complexity requiring significant consulting investment. However, SAP aligns well for global organizations in asset heavy industries like manufacturing, oil and gas.

Oracle

Oracle provides a more unified value proposition than SAP with still robust enterprise capabilities. However it often requires added costs for customization and strategic functionality like supply chain or HCM. Oracle adapts better for businesses focused on operational scale and financial performance.

Microsoft Dynamics

Microsoft Dynamics365 focuses squarely on CRM and analytics vs. core ERP. It links well with Microsoft productivity tools that dominate workplaces. However financial, inventory and manufacturing capabilities lag other platforms. It appeals to growing SMBs invested heavily in Microsoft technologies.

Evaluating tradeoffs across alternatives against your unique priorities allows an informed selection. Netsuite shines for unified visibility, flexible customization and mid-market to enterprise scale – but every organization should validate fit. Reputable partners can advise across all options.

The Future of Netsuite

Backed by Oracle, Netsuite continues significant investment in new capabilities to maintain industry leadership. Upcoming innovations further optimize financial operations, global business, omnichannel commerce and business intelligence – while increasing flexibility through integrations.

Latest Product Innovations

  • Next gen UI enhancing ease of use
  • Improved planning, budgeting and forecasting
  • Tools optimizing receivables and collections
  • AP automation and dynamic discounting
  • Quality management for manufacturers
  • Predictive order promising for supply chain
  • Multi-variable forecasting algorithms

Emerging Integrations

  • Salesforce CRM connectors
  • IoT data ingestion and analytics
  • Expanded payroll, HR and timesheet partners
  • Shopify, Magento commerce connectors
  • Microsoft Azure cloud services
  • Expanded localization for global coverage

Vision for Continued Growth

Netsuite maintains steady 20%+ growth for over a decade since its cloud delivery model aligns perfectly with modern business needs. Current capabilities lead while ongoing innovation expands its functional footprint. Netsuite enables organizations to outpace competitors and flexibly scale into the future.

As the world’s largest cloud ERP vendor, Netsuite delivers leading capabilities today while investing in emerging technologies like blockchain, artificial intelligence, digital assistants and machine learning to power the future of automated business processes and decision making.

Conclusion

Netsuite’s unified cloud platform reduces IT complexity while providing end-to-end process visibility and control. It proves every organization can leverage enterprise-class capabilities to enhance operations and decision making without overwhelming resources or budgets. Over 19,000 customers across 200+ countries trust Netsuite to transform today’s raw data into strategic insights, drive growth and scale fearlessly into the future regardless of size, industry or geography.