NetSuite is currently a worldwide cloud-based platform software for enterprise resource planning for about 40,000 businesses. It is popular since the company that has designed the software to be the best at industry practices and customizability. At the same time, its financial management system is highly praised and has even won several awards.
One solution for your entire business: NetSuite ERP is an all-in-one solution. This saves you time and energy (of having to switch between multiple software) as well as money. Having one integrated system also means information can be transferred throughout your entire company, and employees don’t have to manually input data every time information is sent to a different department since all information is logged in just one storage.
- Better decisions for your business: With NetSuite’s real-time dashboards, business managers and executives have better decision-making capabilities. These dashboards are easily customizable so different individuals can see the statistics most relevant to them. Finally, since NetSuite pools data across the entire company (in contrast to separate software, which creates silos of data), the insights generated are much more powerful.
- Low barrier to entry: Since NetSuite is a cloud ERP software, it has a much lower barrier of entry compared to alternative ERP systems. Small and medium-sized enterprises do not need to spend huge amounts on infrastructure and IT staff for just the purpose of entering the cloud ERP software, NetSuite. With this information, even larger companies get the benefits of NetSuite‘s quick deployment.
- Scalability: NetSuite scales and grows as your business scales and grows. As you have increasing manpower, you just need to add additional users onto your subscription, in contrast to having to manage a large infrastructure change at the same time. As you increase your working capabilities, you can add additional modules into your ERP system that will guide these new operations that you think of for your growing business. Finally, as we point out below, if your company decides to go global, the software can grow in that manner as well.
- Anytime anywhere access: NetSuite operates over the internet and can be accessed anywhere through a web browser or using the app designed by NetSuite. This means it can be used at any time of the day, whether your employees are at the office, at home, or even out on a business trip.
- Multinational, multilingual, multicurrency, multi-subsidiary: NetSuite supports the ability of companies to be multinational (rather than having two on-site ERP systems for separate countries). It also supports various languages and various countries’ currencies, making multinational entities much more feasible within your ERP system. Finally, if a business has multiple subsidiaries being handled, the software can accommodate said subsidiaries having the same features and integration system as the main company.
- Customizable: NetSuite has different features that can accommodate for different industry sizes and different verticals. Nevertheless, the software is even further customizable: developers can create SuiteApps by using SuiteFlex developer tools. For example, if you need to know recent financial trends, SuiteCommerce is available at your disposal. Another is the Professional Services Automation where a project, resource, timesheet, and expenses management are all monitored and handled.
- Biyearly upgrades: NetSuite has two large upgrades every year, and also has more frequent updates. This means your software will be up to date with the latest features and will also be fully secure which will help you in your growing business.
- Secure: NetSuite has created a highly secure platform even though having a cloud-based software has ever since been a controversy. The company has the resources to continue investing in keeping data safe and will continue doing so since it’s such an important aspect of ERP systems. One advantage of this setup is that it allows businesses to spend less on IT and dedicate more resources to their business itself, although the responsibility of any data breach is still on your hands, only minimal monitoring is needed since all data are secured in the cloud server.
- Reliable: With an uptime of 99%, NetSuite is extremely reliable and transparent. Through load balancing, the company minimizes downtime for upgrades. This information is publicly posted on their website and can be viewed at any time of the day.