NetSuite is an effective and robust ERP enabled solution that is offered by Oracle to business organizations to streamline their business related activities and processes. A cloud based facility, NetSuite help businesses to manage its business processes in a single system. What is exclusive about the services offered by NetSuite is non inclusion of hardware, no large and upfront license fee, no maintenance fees related to hardware or software for the systems. And this complex exercise is being done absolutely without any setup related activities.
The companies use NetSuite primarily for enterprise resource planning (ERP) to manage inventory related tasks, track down their accounts related activities and to establish good relationship with their customers through customer relationship management (CRM) systems. NetSuite due to its multi capabilities can be used for a range of business applications and activities. The primary areas where NetSuite is extensively used include:-
- It is widely used for NetSuite ERP that extensively runs several business processes efficiently in the cloud including accounting, inventory, and supply chain and order management.
- A very rich and features enabled Customer Relationship Management (CRM) system provides a complete on demand 360 degree view of set of customer.
- Another intuitive and revolutionary feature of NetSuite Professional services automation (PSA) that enables a person to adequately plan, track and execute projects.
- It offers a completely unified one system database offering real time data visibility including integration features like multiple countries, currencies, languages and subsidiaries.
- What makes NetSuite exceptional are its unique eCommerce features like order management to marketing, sale and order management to marketing, merchandising, inventory, financials and multi channel experience for a web store.
- It has quite extensive features as cloud-based retail software to offer multichannel experience to the shoppers.
- For manufacturing activities it provides better focus upon the delivery based activities for product and services for scalable business growth.
What are the different benefits of the Cloud enjoyed by NetSuite ERP?
The biggest reason for the success of NetSuite as a robust ERP solution lies with its being a cloud enabled service. There are various features offered by Cloud that makes it a suitable platform to run NetSuite. First of all, it offers unique facility to run a virtual office on the cloud enabling a business the facility to run a business from anywhere. As the web enabled services are on the constant rise due to the proliferation of smart phones and tablets the cloud make it easier to access data from anywhere. There are many other advantages offered by Cloud for business implementation and regulation.
- Decreased IT Costs: With a business moving to the cloud, the operational costs for running the business get reduce automatically otherwise incurred over heavy IT infrastructure. A cloud enabled service saves one from the expenses otherwise incurred over expensive infrastructure and equipments required to run a business. The cost of running business over an IT infrastructure get reduced under several heads including the cost on system upgrades new hardware and software. One is not required to pay extra salary for the senior staff, the energy consumption gets reduced automatically and it is a lesser delay due to the robust and faster services.
- Immense Scalability Opportunity: As there is hardly any requirement for setup a new IT infrastructure a business can scale up or down according to its increased or decreased storage and flexibility usage. A cloud service provider simply matches all your data related needs for storage as well as infrastructure
- Consistent Business Practices: What offered by the cloud based services is an unhindered business operations and activities. It let a business run smoothly from anywhere despite of the contingencies like natural disaster, power failure and other crisis situations. A date stored at different locations on the cloud is always protected and secured against any eventuality and disasters.
- Collaboration Powers and Automation: The biggest advantage offered by cloud based service is its unique collaborative power to communicate and share data across as well as within systems. If a person working on a project scattered across different location amidst stakeholders. Cloud computing make it easier to share data among then while working on the attainment of a common goal. Moreover on a cloud computing you are no more required to wait for the systems to be automate, it happens and occur automatically.
Different benefits of NetSuite ERP system for Companies?
Advantages and benefits of Oracle NetSuite EPR are enormous for a small and growing business. There are multiple data related issues where a NetSuite helps a business to grow and expand. Whether poor customer data, broken business processes, limited operations and accommodating to changing regulation there are lots of NetSuite benefits that help a startup organization to grow and expand, exponentially.
Netsuite is good for a small business in a way that it allows a business to expand and grow by taking care of important business aspects like financials, inventory, balances, and shipments and so on. Hence, a business owner adequately could focus upon the growth and business expansion plans instead of wasting his time upon operations related activities. The benefits of NetSuite for a growing company follow as:-
- An Advanced Level of Customer Management: This is the benefit that states NetSuite for large companies friendly as well. It is merely not limited only to a smaller company at the same time has huge advantages for bigger companies as well. NetSuite contrary to all the prevailing business practice offer unlimited access to customer data and offer huge benefits to businesses. It offer a 360 degree latest and accurate customer data view across sales, service, transaction orders and more to take a more reliable business
- NetSuite Integration, Helping Business to Increase Profitability: The stand alone business systems have limited capabilities to automate business functions. The key of success for a business system is its capacity to handle a greater number of business transactions with a speed. The stand alone systems mostly fail to accomplish this. NetSuite integration and native flexibility offers stronger financial controls, better SKU management or support for more complex financial processes like as repeated billing and invoicing.
- Regulation Handling: It is another important aspect and feature of NetSuite integration offered to businesses that are on the constant path of growth includes and come affront of different tax and labor laws. The compliance with these businesses majorly requires year-end audits, reporting and other government regulations. If the data in accounting systems is not seamlessly offered and projected can create a chaos for your finance team while providing them to the regulators. NetSuite has features that enable data to be adequately matched and made available to the competent authorities on a go.
- Better Handing of Cash Flow: NetSuite is designed in a way that it can get into the deeper details of financial assessment of the things. It helps a business financial system to have more accurate measurements instead of merely assumptions. It offers consolidated views as well as up-to-minute reporting of the financial statements for an accurate and better visibility.
Therefore transparent, visible and robust system offered by NetSuite helps a business to move a business on a constant path of growth.