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NetSuite Frequently Asked Questions

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June 13, 2022

What is NetSuite?

Oracle NetSuite is a cloud-based business solution offered on a Software-as-a-Service (SaaS) model. The NetSuite Enterprise Resource Planning (ERP) solution is used by countless businesses around the world, and they are a leader in their industry.

The software integrates all core business functions into a single, centralized system that can be accessed from anywhere at any time thanks to cloud technology. These functions include financials, supply chain management and customer management to name just a few.

The solution can be highly customized to the specific needs of a business as it is a modular solution whereby businesses can take as little or as much as they need. The subscription is paid monthly or annually and comes in different tiers for different needs. The cost depends on which modules you include, and the number of user licenses you require.

 

How many customers does NetSuite have?

According to Forbes, Netsuite now has over 27,000 customers and counting, spanning more than 200 countries due to its class-leading multi-currency functionality. This number has grown rapidly from 11,000 in 2016, back when Oracle acquired the solution.

 

Is NetSuite cloud based?

Yes, NetSuite is a cloud-based business solution. This means all your important accounting and operations information can be accessed on any device, from any location and at any time. This helps businesses to become agile due to round the clock access to their data, and accommodates remote working perfectly.

 

Is NetSuite SaaS?

Yes, NetSuite is offered as a Software-as-a-Service (SaaS).. This means you access it via a subscription, paying a monthly or annual fee based on the resources you need and the number of user licenses you require. This means NetSuite is far more affordable for small to medium size businesses than they might think.

 

Is NetSuite a CRM?

NetSuite isn’t a stand alone CRM, it’s a robust cloud-based ERP system with CRM at its core, that integrates seamlessly with ERP. Together, they enable you to run your business more effectively by interacting and engaging with your customers in more ways to get insights into what works for them.

This means access to data like the products they buy, the promotions they like and the price points that tend to work best for them. This way, you can predict what they want more accurately. Armed with this information, you can make data-driven decisions about the way your products or services are presented, and completely automate your marketing for greater success.

 

Is NetSuite GDRP compliant?

Yes, NetSuite is fully compliant with the GDPR. You can set up NetSuite to meet GDPR regulations in the most appropriate way for your business, to ensure full compliance with strict policies and practices.

If you have been having difficulty meeting your GDPR obligations across disparate business operations, NetSuite can help. It brings everything together into a single system and implements strict codes of practice so that GDPR compliance is built into all that you do.

 

What is NetSuite SuiteSuccess?

SuiteSuccess is a NetSuite deployment that enables implementation of the system to happen more quickly. It is a staged approach that provides the tools to get your business fully active within the cloud in a short space of time in comparison to standard ERP projects. The packages can be industry-specific to cater for the nuances of different business types, and it includes predefined user roles that your team members can slot into.

NetSuite’s experience in delivering solutions for different businesses means they understand the requirements of a wide range of industries. The tailored packages in NetSuite SuiteSuccess are high-quality and fit for purpose, with the ability to make tweaks that fit with your business.

To learn more about NetSuite SuiteSuccess, you can read our informative article – NetSuite SuiteSuccess – Zero-To-Cloud In No Time.

 

What is NetSuite OneWorld?

NetSuite One World is a solution that allows international companies to manage their more complex cross-border financials, reporting and taxes. It is based in the cloud, so companies gain access to relevant data from anywhere in the world to get a real-time perspective of the business at different levels.

NetSuite OneWorld offers all the core functionality of NetSuite, specific to the countries a business is operating in. This might include multi-currency, multi-language and a variety of different regulatory and compliance obligations.

As business expands into new territories, they can simply add those territories to their OneWorld package, and all the complicated stuff like tax, language and compliance is taken care of.

Want to learn more about NetSuite OneWord? If so please read our article – NetSuite OneWorld – Global Business Made Easy.

 

What is NetSuite Sandbox?

NetSuite Sandbox is a safe, isolated test account for the developing and testing of new customisations that won’t affect your production account. You can have multiple sandboxes provisioned as required, each with the same configurations and data as your production account. This enables accurate testing of new applications and customisations that can be deployed when they are optimized and ready.

 

How much does NetSuite cost?

The amount you pay to use NetSuite depends on the features you use and the number of user licenses you require. This makes it hard to put an exact figure on what a standard NetSuite cost looks like, as the software is so highly customizable that it could vary greatly from business to business.

It’s always best to speak to a reputable NetSuite partner to create a full view of your business requirements, in order to build a tailored NetSuite package that works for you.

 

Why choose Eventura to deliver your NetSuite project?

As official NetSuite Partners, we have the knowledge and skill to successfully deliver your ERP Project. Our team of expert business analysts, developers, consultants, technicians and support staff will help you identify all of your business requirements in order to create a game-changing business solution.

If you would like to speak to one of our NetSuite experts to discuss your NetSuite project, you can request a free call back here.

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