NetSuite is a suite of cloud-based business management solutions deployed by over 31,000 worldwide organisations of every shape and size. It consists of a number of applications aimed at helping companies run every element of their business. It also delivers tools to understand the business better and identify opportunities for major cost savings and efficiency gains.
The foundation of NetSuite is its ERP system, wherein an organisation can manage disparate functions like accounting, finance, inventory, orders and procurement from a single platform. It can also incorporate other areas like Customer Relationship Management (CRM), Human Resources (HR), Professional Services Automation (PSA) and much, much more. The system means everything shares a common database, so all information updates in real-time and you can see how one thing affects another.
The idea is to give business leaders an up-to-date, 360° view of the business to make informed decisions, whilst empowering employees to complete their duties with greater ease. In this guide, we will give you an overview of some of the most popular products that can be included in NetSuite to help you decide what might be useful for you.
NetSuite ERP
NetSuite Enterprise Resource Planning (ERP) is a cloud-based business management software that you access via a subscription model. It will help your organisation operate with greater efficiency by automating core processes and delivering a real-time view of all operational and financial performance.
The integrated suite of applications enables management of accounting, production, inventory management, order processing, supply chain and warehouse operations. Get full visibility into all data relating to these things and enhance the control you have over your business.
Key Benefits
- Informed decision-making: with access to all financial, transactional and operational data throughout the organisation, you can customise dashboards and generate reports and visual analytics to guide your decision-making.
- Make admin simpler: have a single, centralised platform to manage accounting, operations, inventory, distribution and more. Repetitive, manual tasks can be automated to free up time and resources for more important business activities.
- Manage international businesses easily: simplify the management of different subsidiaries and legal entities from a single location. NetSuite supports over 190 currencies and 27 languages so you can manage a global business easily.
NetSuite CRM
NetSuite Customer Relationship Management (CRM) helps your organisation manage the way it interacts with existing and prospective customers, partners and suppliers. Expect everything a traditional CRM solution contains, like customer service management and sales force automation, alongside extra functions like managing quotes and generating sales forecasts. The flow of information throughout the customer lifecycle is seamless and integration with the ERP system enhances insights even further.
Key Benefits
- Deliver more engaging experiences: with a unified view of all preferences, transactions and interactions for each customer, your sales and marketing teams can deliver more consistent and relevant experiences at every touchpoint.
- Enhance sales performance: your sales team will gain access to real-time prospect, customer and order records. Sales processes like upsell and quote management are integrated, while sales forecasting, order management and more are significantly improved.
- The best possible customer service: everyone who interacts with customers will have the same, up-to-date data. This will help the support and service teams understand customer issues better and deliver the service they need.
NetSuite OneWorld
In order to grow and succeed, businesses need to be driven by data and able to innovate and scale rapidly to meet the demands of customers and the market. NetSuite OneWorld is a tool that delivers agility, automation and functionality to empower businesses to execute on a global scale. It is equipped with country-specific capabilities to ensure local compliance and reporting regulations are always met, no matter where you do business.
Key Benefits
- Everything in one place: manage multiple subsidiaries, business units and legal entities with tools to meet local compliance requirements at both the internal and external level.
- Be consistent: gain the tools to maintain consistent processes throughout your subsidiaries no matter what country they are in.
- Monitor everything in real-time: monitor all data throughout subsidiaries and other global entities in real-time to enable rapid responses whenever and wherever they are needed.
You can learn more about NetSuite OneWorld in our informative article NetSuite OneWorld – Global Business Made Easy.
NetSuite SuiteSuccess
SuieSuccess is one of the unique attributes of NetSuite and it has come about after many years of work to combine:
- The NetSuite unified suite.
- Two decades of industry-leading practices.
- New customer engagement models.
- Innovative business optimisation methods.
These are all unified into an industry cloud solution.
SuiteSuccess exists to meet challenges that are unique to certain industries – challenges that are notorious for limiting growth and adapting to change. The standard is to offer templates and custom codes to solve these problems, but NetSuite has taken a more holistic approach incorporating domain knowledge, leading practices, KPIs and agility for product adoption. Essentially, it is a framework to implement NetSuite into your organisation in the fastest and most efficient way, reducing time to value significantly.
Key Benefits
- Gain business visibility quickly: get that 360° visibility and access to actionable insights quicker and more effectively.
- Tighten up your financial management: enjoy a reduction in time to close the financial books and complete audits.
- Save on IT support costs: with SuiteSuccess, you will spend far less time and money on pulling in IT support for implementation and training, so business continuity costs will be reduced.
You can learn more about NetSuite SuiteSuccess in the article NetSuite Suite Success – Zero to Cloud in 100 Days.
NetSuite SuiteBilling
There can be no denying the gradual transition to a subscription economy. In this developing world, businesses need the tools to generate invoices that are an accurate representation of pricing and usage over a specific period of time.
NetSuite SuiteBilling assists companies in streamlining billing operations with access to real-time visibility into all financial and billing activity. You will get things like consolidated invoicing, automated rating operations and support for a wide range of pricing models. With SuiteBilling, you have full transparency regarding all billing activities.
Key Benefits
- Subscription billing, simplified: access standard and customer-specific pricing plans using flat, volume and tiered pricing models with a powerful rating engine to automate usage and consumption billing.
- Subscription lifecycles and renewals: you can streamline the work for recurring subscriptions with auto-renewals and manage the full lifecycle of every subscription with flexible change orders.
- Unified charging: for customers with multiple subscriptions, you can seamlessly consolidate the charges to simplify the experience for both you and your customers.
For more information about NetSuite SuiteBilling, you can read the article What is NetSuite SuiteBilling?.
NetSuite OpenAir
NetSuite OpenAir is a leading Professional Services Automation (PSA) solution. It is designed for scalability across different professional services organisations, including both organisations based around services and product companies that offer services alongside their product.
Integrating with any ERP solution, OpenAir enables you to run core business operations with end-to-end automation and visibility. It helps drive tangible results like project margins and resource utilisation with reduced IT costs and project accounting/overhead.
Key Benefits
- Access anytime, anywhere: with a free mobile app, users can access the OpenAir system remotely from anywhere with an internet connection.
- Customise to your needs: the platform is equipped with ready-to-implement user roles, metrics, dashboards and reports as required. There are nearly 100 pre-configured report types and numerous templates to create new projects with ease.
- Simple tracking and monitoring: track task completion by each employee via the powerful dashboard feature. Assign roles with pre-built dashboards that incorporate specific charts and reports tailored to the individual’s tasks and responsibilities.
Want to learn more about NetSuite OpenAir? Check out our article What is NetSuite OpenAir where you will find more information.
NetSuite Professional Service Automation (PSA)
NetSuite’s Professional Services Automation (PSA) solution is called SuiteProjects. It enables a detailed, end-to-end PSA platform to support an entire services business from a centralised, cloud-based suite.
It incorporates everything you need from project and resource management to the tracking of time and expenses, as well as project accounting and invoicing and billing. With SuiteProjects, your organisation will complete projects in a swift and profitable way, generating accurate invoices and cutting down on your accounts receivable cycles.
Key Benefits
- Deliver projects within deadlines and budgets: the Project 360 dashboard provides a centralised view of core metrics alongside reports, statuses and resources. This gives project managers deeper insights into essential project information, identifying areas that require corrective actions.
- Track skills and availability: increase utilisation and cut down on reliance on contractors by identifying consultants who are available from within the organisation.
- Accurate accounting/billing: project activities are connected with company financials, ensuring accounting and billing is efficient and accurate throughout a project’s lifecycle. Billing and revenue recognition can be automated to streamline payments and offer greater financial transparency.
If you’d like to learn more about NetSuite PSA, please read our informative article Professional Services Automation Software – Revolutionising The Service Industry.
NetSuite B2B/B2C Ecommerce (SuiteCommerce Advanced)
NetSuite SuiteCommerce offers B2B sellers a way to create more engaging sites for their customers thus maximising sales. From one easy to use centralised location, you will be able to manage online stores, distributors, in-house sales, manufacturers, channel partners and brick-and-mortar locations.
SuiteCommerce natively engages with NetSuite ERP and CRM to streamline the selling process, reducing the sales process lead time and improving accuracy. Customer can access their own account information with ease, and billing is made easy.
Key Benefits
- One unified platform: No need for integrations between disparate systems. With NetSuite, you get natively unified ecommerce, inventory and order management, POS, support and financials.
- Increase sales: The online self-service tools means a reduction in sales and support requests. Sales representatives will have more time to focus on driving increased revenues with less customer administration to keep on top of.
- Improved billing process: Check account balances, view invoices and go over transaction histories with ease. Payments against invoices are easy to process and billing lead time is reduced, improving cash flow in the business.
You can learn more about NetSuite Suite Commerce Advanced in our informative article NetSuite B2B Ecommerce (SuiteCommerce Advanced).
NetSuite SuitePeople
SuitePeople is a Human Resource (HR) management solution equipped with a suite of capabilities to simplify the delivery of the HR service. This makes everything easier and more efficient for everyone. A single tool is used to manage human resources, payroll and financials.
This means you don’t need to integrate third-party software, and you will see improvements in data accuracy as well as creating a more engaging workforce experience. Decisions will be made from an informed position, aligning workforce performance with business performance better than ever before.
Key Benefits
- Unify financial and HR data: by having HR, payroll and financial data in a single location, your company gets enhanced visibility into the impact of workforce performance on financial performance.
- Reduce costs for HR administration: employees and managers are empowered to complete common HR tasks securely. Jobs like changing addresses, viewing time-off and initiating promotions can be done easily at any time.
- Engage more with employees: employees can be connected more closely with their work with active and dynamic goal setting. Achievements can be recognised, reviewed and rewarded easily to increase worker engagement and productivity.
For more detailed information about NetSuite SuitePeople, feel free to read our article NetSuite Human Capital Management (SuitePeople).
Conclusion
The suite of products that can be included with a NetSuite subscription covers the full gamut of business operations for organisations of all shapes and sizes. Select the products that are relevant to you and implement them to unify all operations and start treating those disparate tasks as part of a whole, rather than so many disjointed activities.
Why choose Eventura to deliver your NetSuite Project?
As an official NetSuite solution provider, we have successfully delivered countless NetSuite implementations. Our expert team of business analysts, developers, consultants, technicians and support staff can guide you through your entire project, from initial scoping through to implementation and on-going support.
If you would like to speak to one of our NetSuite experts, you can request a free call back here.
