NetSuite ERP (Enterprise Resource Planning) is one of the most advanced and functionally comprehensive cloud-based ERP systems on the market. With over 40,000 successful implementations in more than 215 countries, it is also one of the fastest-growing ERP systems in the world. It is used by companies of various sizes and industries, including manufacturing, distribution, services, and project-based businesses.
In this article, we will explore the advantages of NetSuite, how it can transform your business, and why xperitus is the optimal implementation partner to maximize the value of your investment.
What is NetSuite?
NetSuite ERP is a cloud-based ERP system that integrates a wide range of business processes into a single platform. These include financials, order management, inventory, manufacturing, supply chain, CRM (customer relationship management), and more. By centralizing these functions, companies gain a single view of their data, improving decision-making and increasing efficiency. Benefits of NetSuite:
- Business process automation: NetSuite ERP reduces manual effort by automating time-consuming tasks such as invoicing, inventory management, and accounting, minimizing errors and enhancing operational efficiency.
- Real-time data and insights: The system provides businesses with access to real-time information, enabling faster, data-driven strategic decisions.
- Centralized ERP platform: NetSuite integrates various business areas (financials, manufacturing, inventory management, project management, etc.) into a single system, eliminating the need for multiple, separate solutions.
Why choose NetSuite?
NetSuite is a subscription-based solution where the cost is structured as an annual license fee. The license fee includes three main components: the platform, optional modules, and the number of users. This allows companies to pay only for the functionality they use.
Being cloud-based, NetSuite offers several advantages, such as cost efficiency and scalability. The system can easily adapt and expand in response to changing business needs and company growth.
Another benefit of NetSuite ERP is its rapid implementation. By leveraging proven methodologies from thousands of global deployments, companies can quickly go live with NetSuite ERP. Other benefits of NetSuite:
- Automatic upgrades and maintenance: NetSuite customers receive automatic updates, eliminating the need for costly upgrade projects.
- Reduced IT complexity: Internal IT resources are freed up by not having to maintain infrastructure.
- Accessibility and mobility: Users can access the system from anywhere with an Internet connection, facilitating collaboration and enabling multi-site operations.
- Multi-tenant architecture: Multiple customers share the same IT infrastructure and system resources while maintaining strict data separation and security, resulting in lower operating costs.
How does NetSuite work?
NetSuite is a powerful and flexible ERP system that efficiently manages a company's core processes. With NetSuite, businesses gain a comprehensive solution for finance, order management, inventory control, invoicing, and reporting, ensuring seamless and real-time, data-driven operations.
For instance, when an order is received, several business processes are triggered. Inventory levels are updated, forecasts are adjusted, and the supply chain is automatically optimized. NetSuite consolidates purchase orders, contracts, sales orders, and invoices into a unified platform where all departments have access to the same, up-to-date information. This ensures smooth and transparent operations throughout the business, allowing strategies to be quickly transformed into operational actions.
The modules are fully integrated, allowing businesses to manage all processes from a single platform. NetSuite can also be customized to meet specific business requirements and seamlessly integrate with third-party applications.
NetSuite is both scalable and customizable. As business needs evolve, new features and modules can be added, ensuring that companies implement only the solutions they truly require.
Financial tools and industry-specific functionality
NetSuite ERP provides comprehensive tools to help companies efficiently manage their financial transactions. The system includes features such as a general ledger, accounts receivable, accounts payable, and tax management, offering a complete, real-time view of a company's cash flow and financial status. By automating daily financial transactions, companies can streamline the closing process and maintain compliance with regulatory requirements and industry standards. This real-time overview is crucial for strategic decision-making and planning. The system also includes built-in Business Intelligence (BI) components such as KPIs, reports, and rule-based alerts.
For companies with international operations, NetSuite provides a robust solution for managing multiple currencies, local tax regulations, and reporting requirements. This ensures seamless financial consolidation across multiple geographies and subsidiaries, enhancing global visibility and control.
NetSuite ERP also offers industry-specific solutions for manufacturing, distribution, project-based businesses, and field service. Designed to meet the unique needs of each industry, these solutions help companies optimize processes and drive profitability.
NetSuite ERP provides tools to manage the entire supply chain, from suppliers to customers. This includes planning, procurement, manufacturing, inventory management, and distribution. By optimizing supply chain processes, companies can reduce costs, improve on-time delivery, and enhance overall efficiency.
A key component of NetSuite is its integrated Customer Relationship Management (CRM) module. By consolidating all customer information in one place, employees have access to accurate, up-to-date data, empowering them to enhance the customer experience.
User experience
One of the key reasons for NetSuite’s popularity is its user interface. Developed with the end user in mind, NetSuite lowers the learning curve and increases employee productivity. In fact, NetSuite’s interface has set a new standard for modern ERP systems.
Why choose xperitus as your implementation partner?
Implementing an ERP system is a strategic investment that requires expertise and experience. xperitus is a leading Oracle partner in the Nordic region with over 15 years of experience helping businesses maximize the value of their ERP investment. By offering end-to-end support – from planning and implementation to optimization and ongoing support – xperitus ensures a seamless NetSuite experience within your organization.
Advantages of Partnering with xperitus:
- Deep Expertise – Extensive experience with NetSuite and its functionality across various industries.
- Customized Solutions – Tailored ERP solutions for unique business needs.
- Local Presence and Global Reach – Support available both locally and internationally.
- Cost-Effective Implementation – Optimized processes to ensure a rapid ROI.
Conclusion
In summary, NetSuite ERP is a powerful and flexible solution that helps businesses manage their operations more efficiently. By offering comprehensive functionalities for finance, order management, inventory control, and beyond, NetSuite ERP enables businesses to enhance operational efficiency and improve customer satisfaction.
Choosing the right implementation partner is essential. Xperitus provides the expertise and support needed to ensure a smooth and successful NetSuite implementation tailored to your business needs.
Ready to take your business to the next level? Contact xperitus today for a free consultation and discover how NetSuite can help you achieve your business goals!
