WHAT IS ORACLE NETSUITE?
Businesses are changing and adapting at a faster pace than ever before. There’s no better way to stay ahead of the curve and grow your business than with Oracle NetSuite. But what is NetSuite exactly? It’s the leading integrated cloud business software suite for enterprise resource planning. It helps you manage inventory, track financials, host e-commerce stores and maintain customer relationship management systems.
NetSuite goes beyond what spreadsheets and point solutions can accomplish while reducing operating costs and enhancing productivity. Its built-in functionality allows it to support multiple applications under one platform with customizable dashboards to measure progress.
And since NetSuite is built in the cloud, all your important accounting and operational information is accessible from anywhere and on any device. NetSuite can help your business gain visibility, control and agility.
To give you a better idea if NetSuite is right for your business needs, we’ve put together an overview to answer the following:
- How does NetSuite work?
- NetSuite features and capabilities
- NetSuite frequently asked questions
HOW DOES NETSUITE WORK?
5 CORE FEATURES OF NETSUITE
Although NetSuite may be the oldest, it is not the only provider of cloud ERP software. So what separates NetSuite from other cloud solutions? Here are five highlights:
- Unified view of the business: NetSuite empowers any firm to run its entire business from a single platform. It brings together finance, supply chain, manufacturing, HR and ecommerce on one system, with one database, rather than using disparate software for each of those functions. Employees simply log in and, with a few clicks, monitor the status and performance of any aspect of their operations.
- Native integrations: All NetSuite applications feed information into, and pull it from, the central database to ensure there’s only one source of knowledge. The platform’s natively integrated modules negate the need for third-party integrations that may be unreliable or unable to support real-time updates. This unified architecture delivers a common user interface across all modules; that decreases training time and gets people productive faster. This model also allows users to complete order-to-cash, procure-to-pay and other multi-step processes from a single application without re-entering or exporting information.
- True cloud: NetSuite was born in and built for the cloud. In contrast, many “cloud” ERP systems are actually hosted or hybrid cloud — essentially, on-premises software retrofitted for access through the internet. Such solutions suffer from many of the problems that plague traditional systems, like version lock, slow upgrades and lack of scalability. NetSuite is a multi-tenant, vendor-managed cloud solution with endless room to support growth.
- Deep reporting capabilities: The vast amount of data flowing from departments and business units into the NetSuite platform fuels its extensive reporting capabilities. Users can pull reports on everything and anything they may want to measure or understand, thanks to the system’s built-in reporting tools. NetSuite also has role-based dashboards that quickly give employees, managers and executives the information they need to make informed decisions.
- Built-in flexibility: NetSuite can serve a broad array of industries not only because it comes with impressive functionality, but because it can adapt to meet the requirements of different businesses. The platform can be customized to accommodate your processes and corporate structure through SuiteCloud apps and tools, whether you’re a multinational brand with six subsidiaries or a startup still building its first product.
WE CUSTOMIZE NETSUITE TO MEET YOUR COMPANY'S SPECIFIC NEEDS
NetSuite’s SuiteCloud platform allows customers and partners to extend the system’s capabilities and tailor it to their exact business needs. This gives customers the flexibility to meet the shifting business challenges of today and tomorrow. There’s no threat of version lock, as all customizations automatically carry over with platform upgrades.
Here’s a quick breakdown of SuiteCloud applications and developer tools:
- Customizations: This tool makes it easier for developers to create custom fields, forms, records and roles. With SuiteBuilder, companies can tweak the system to reflect their organizational structure and terminology.
- Process Automation: Developers can build custom workflows for different business processes with SuiteFlow. They can use an intuitive user interface to automate processes like lead nurturing and approvals for purchase orders and sales discounts.
- Integration: SuiteTalk enables developers to build custom integrations so data flows smoothly from NetSuite to outside software applications. It does this through a few different integration tools.
- Application Distribution: This tool helps both customers and partners bundle customizations and applications they develop for faster, easier deployment. SuiteBundler makes it easier for partners to send out new versions of these applications and for customers to apply customizations to different accounts.
- Internationalization: Create an environment for end-users and administrators that feels completely natural no matter which local language, currency, or tax and accounting rules apply to your global company or offshore subsidiary.
- Performance Monitoring: Performance health dashboards provide visibility into systems health to maintain optimal performance and stability of your NetSuite account to ensure business continuity and keep users productive, and include integrated tools to rapidly identify root cause issues affecting product experience.
WHAT TYPE OF BUSINESSES USES ORACLE NETSUITE?
NetSuite has become the industry leader in cloud ERP because it can address the needs of businesses of all shapes and sizes. That includes early-stage startups up to household-name enterprises, products- and services-based organizations and companies that sell to other businesses, consumers or both.
The more than 31,000 customers that use NetSuite operate in a variety of industries, including:
- Advertising and Digital Marketing
- Apparel, Footwear and Accessories
- Campus Stores
- Financial Services
- Food and Beverage
- Health and Beauty
- IT Services
- Media and Publishing
- Professional Services
- Real Estate Brokerage
- Restaurants and Hospitality
- Software and Technology
- Transportation and Logistics
- Wholesale Distribution
HOW MUCH DOES NETSUITE COST?
When it comes to an ERP, one size does not fit all, particularly when it comes to pricing. Companies, especially SMBs, need an individualized plan that fits their operating needs as well as their budgets. NetSuite offers customized pricing based on several factors, including the company’s annual revenue, needed features, business size, and customer base. Each company needs to research its requirements and then work with a consultant to determine the best platform package for its current situation. Of course, businesses can easily modify their plan as they grow and need enhanced software capabilities. Customized pricing means clients get what they need without paying for features that they don't.
MANAGE YOUR GLOBAL BUSINESS ON A SINGLE ERP SOLUTION
Used in over 215 countries and dependent territories, NetSuite OneWorld enables companies to manage multiple subsidiaries, business units and legal entities from a single ERP. Support for 27 languages and 190 currencies makes it easy to work with customers and suppliers around the world, while country-specific configurations help ensure compliance with local accounting, tax and regulatory requirements. Get real-time visibility into operational and financial performance while standardizing core processes, managing risk and controlling costs at all levels of the organization.