Office Hours: Mon-Fri, 8.30am-5pm

NetSuite for Energy Companies

A windmill energy farm at sea

June 28, 2022

Once upon a time, energy companies had to rely on disparate systems and time-consuming manual processes to run their operations. Today, cloud-based Enterprise Resource Planning (ERP) solutions like NetSuite provide opportunities for smart energy companies to rise above the competition.

With greater automation, use of powerful AI and the unification of those disparate systems into a single, centralised solution, team members get the freedom to focus on more important tasks, along with valuable data and powerful tools to increase accuracy and productivity.

 

By implementing NetSuite, energy companies can enjoy the following benefits:

  • Greater business productivity
  • Improved profitability
  • Optimised allocation of resources
  • Enhanced customer service
  • Access to new market opportunities

NetSuite integrates easily with a huge range of external applications, so you can even bring much of your existing technology along with minimal disruption or employee training requirements.

 

The needs of the modern energy company

 

This is a rapidly-developing industry. There is no room for being held back by unrelated business systems, laborious manual processes and independent data. It is important to be dynamic and forward-thinking. With NetSuite, you can incorporate sales, procurement, inventory, production, resource management, project delivery, finances and post-sales services into a single solution.

Projects can be managed and delivered anywhere in the world. This means cross-border work or international expansions are accommodated in a core platform that offers limitless opportunities for scalability. And the industry-specific solutions you require, like enhanced field management or GPS tracking, can be integrated for a bespoke solution.

 

Tools that will work for you

 

NetSuite ERP

Go beyond traditional accounting and financial management to unify a suite of applications that facilitate better, faster decision-making based on real-time data.

 

Customer Relationship Management (CRM)

NetSuite has an advanced CRM function that gives energy companies a single repository for customer interaction, whether it is B2C or B2B. You will implement superior service quality by applying a comprehensive visual of your customers.

 

Professional Service Automation

With NetSuite’s OpenAir PSA, energy companies will be able to plan, staff, manage and track the performance of every project, along with in-depth, real-time analysis.

 

Unified Global Business Management

 

Any energy company with multiple locations, numerous subsidiaries and various business units and legal entities can take advantage of NetSuite OneWorld. This will accelerate financial consolidation, handling the various currencies, taxations rules and reporting compliance needs.

Essentially, you can adjust your NetSuite package to incorporate everything you need into a single system. The benefits of this centralised format for such diverse operations include:

  • Streamlined operations: all front- and back-of-office operations are brought together in one place. End-to-end processes can be automated to ensure maximum efficiency throughout your organisation.
  • Enhanced customer satisfaction: the entire customer lifecycle can be effectively managed. Every touchpoint of the customer journey is visible in real-time, enabling you to get a profound understanding of your customers and deliver the best possible service for them.
  • Greater adaptability: With real-time analytics and flexible processes, energy companies will be able to monitor the market and respond quickly to the changes that are so common in this industry.
  • Go green: with all your operations being run in the cloud, you will reduce your carbon footprint and identify opportunities to make other areas of your operations more sustainable.

 

A rich base of powerful features to choose from

 

The out-of-the-box features of NetSuite can be picked and chosen so that your solution meets your specific needs. Select the features you want and avoid the ones that are not relevant to you. The following is just a sample of what is at your disposal in this powerful system:

  • Comprehensive management of finances
  • Budgeting and forecasting tools built-in
  • A comprehensive Customer Relationship Management (CRM) solution
  • Revenue management
  • Inventory and supply chain management
  • Spend management
  • Sophisticated business intelligence
  • Field Service management
  • Health and safety management
  • Maintenance management
  • Global business management
  • OpenDEM and Connectors to NetSuite SuiteSuccess Cloud
  • Meter Data to NetSuite Interface

The ability to tailor your solution to your specific needs further enhances the quality of the NetSuite solution for energy companies. You will only be getting tools and resources that are useful to you, and the cost of your subscription will reflect that.

No paying for things that you don’t need, and no need to worry about your existing tools and resources being incompatible – NetSuite has integrations with the most commonly-used software.

 

Striving for success

 

By combining the world’s leading ERP platform with our innovative and creative approach, we are ideally positioned to support, advise and grow with energy companies of all sizes. All the critical processes of a typical energy company are things we specialise, in, including:

  • Sales
  • Inventory
  • Project management
  • Revenue recognition
  • Procurement
  • Post-sales reporting

We can design and implement NetSuite to meet the needs of the most pioneering businesses, and that includes energy companies.

We will align your goals with the system capabilities by taking a collaborative approach to your NetSuite integration. Our unrivalled experience means we can help you harness the full power of NetSuite in the way that works best for you.

We will also ensure you get the maximum benefit from your NetSuite setup, offering ongoing support to help further optimise systems once they are in use. And whatever functions you need to be added, we will ensure there is no piece of the puzzle left out.

 

Questions? Get in touch

 

Our expert team knows all there is to know about NetSuite and we are ready to answer your questions about how it can benefit an energy company, or any company for that matter. If you want to ask anything or enquire about getting started, contact us today and we will be happy to have that conversation.

You can request a free call back here.

You May Also Like…

Order-to-Cash Explained

Order-to-Cash Explained

Businesses must process customer orders using efficient processes to get paid for them promptly. The order-to-cash...