Today, more than 22,000 customers in more than 200 countries are using an ERP NetSuite solution. No matter if you’re a small business, a startup, or a multinational organization, NetSuite ERP is ideal for enterprise resource planning (ERP), customer relationship management (CRM), eCommerce, and global operation management.
However, just as there are different types of business enterprises, there are several NetSuite products in the market. Because of this, each product is suitable at the different stages of business growth for nearly all organizations. NetSuite’s comprehensive suite provides cloud-based financials / ERP and omnichannel commerce software that’s cost-effective, scalable, and easy to use.
But how do you decide on which NetSuite solution is right for your business? To get you started, this article will discuss the different NetSuite products and their benefits. We will also discuss the organizational stages these products are most applicable in your business.
NetSuite Products Overview
NetSuite is the world’s leading dedicated provider of cloud-based business management software. After becoming Oracle NetSuite in 1998, the platform served enterprises as the very first cloud company. In this article, we will cover the core NetSuite products and ERP solutions, including NetSuite ERP, NetSuite CRM+, NetSuite SuiteCommerce, NetSuite SRP, and NetSuite OneWorld.
NetSuite Enterprise Resource Planning (ERP)
Organizations with supply chains use NetSuite ERP to track the manufacturing and distribution of products in real-time. Some key industries that can utilize this ERP solution include nonprofit, hospitality, healthcare, education, and construction.
There are several categories of NetSuite ERP, each offering robust features. Whether you have accounting or manufacturing needs, NetSuite ERP offers a visible trail of transactions and ensures effective management. The platform’s flexibility also means it can manage billing and invoicing, vendors, and even fixed assets.
Normally complex processes like vendor management and demand planning are simplified with NetSuite ERP software. From a single console, you can manage every aspect of your operations. The real-time workflow and integrated reporting make it easy to stay on top of your business.
NetSuite Customer Relationship Management (CRM+)
A useful CRM system like NetSuite CRM+ is for every business that handles sales orders, fulfillment, customer support, and marketing. As a result, no matter what size your business is or the level of your business growth, these solutions provide a 360-degree overview of your customer portfolio. Equally important you can be more productive and improve your sales performance through forecasting, upselling, and commission management.
This CRM software allows customers to submit cases, send messages, and track status with online self-service. The real-time interface can also monitor vital factors such as resolution metrics, renewals, and customer satisfaction. The CRM system support routing and tracking inquiries according to issues, case type, product, partner, or customer.
You can also use marketing automation features to track campaigns. Email marketing is delivered in a single system, and historical analysis is there to support your upsell marketing efforts. NetSuite CRM software comes with SalesForce automation, which can better manage your sales opportunities. Finally, the eCommerce and flexible customization options offer greater insight into your products and services.
Does your business transact with other businesses or directly with customers? If so, then NetSuite SuiteCommerce is for you. This solution offers an omnichannel commerce experience from a single platform by connecting your in-store POS with inventory, sales order management, financials, merchandising, marketing, and customer service without the need to maintain separate systems.
SuiteCommerce’s unified platform eliminates the need for separate integration for different systems. That is to say, this streamlines your business operations and order management by only needing to rely on one system. In addition, the 360-degree customer view gives you access to a single omnichannel view of every customer. More insight on your customers allows for superior targeted marketing and a better customer profile for improved engagement.
You can easily share information between your global and local connection of supply chain and distribution with SuiteCommerce. Thanks to the real-time visibility and the ability to manage sales orders from multiple channels, you create and manage multiple brands and websites from a single platform.
NetSuite Services Resource Planning (SRP)
NetSuite SRP is designed to promote the entire service operations of businesses. From PSA and CRM to ERP and accounting, this business solution supports the complete bill-to-bill lifecycle of an enterprise with an advanced software-as-service (SaaS) suite.
NetSuite SRP allows you to have unprecedented enterprise control. Its platform provides total visibility, real-time control, and the ability to maintain an accurate 360-degree overview of projects. Altogether, this makes it easy to collaborate on project tasks across your teams.
NetSuite SRP comes with a simplified interface that improves sales performance while lowering human errors. The platform can automate invoices whether they are one-off or recurring. Also, the top-notch forecasting and business analyst tools allow for greater analysis and insight when making decisions.
Overall, the platform promotes productivity by simplifying manual processes, sometimes eliminating them entirely. You can enjoy more accurate expense entry and tracking as well for a more integrated expense and project management.
NetSuite OneWorld makes it easy for businesses with international and local subsidiaries to operate on one system. Thanks to its straightforward interface, your business can manage legal entities, business functions, and taxation around the globe.
OneWorld allows businesses to conduct eCommerce across the globe. You can manage multiple web stores and subsidiaries internationally and operate across multiple languages, currencies, and tax legalities. The global ERP reduces IT cost by managing global procurement and distribution on a single platform. Any kind of business can make use of the global audit, compliance reporting, and ability to streamline operations across multiple subsidiaries.
The platform comes with international capabilities. It can automate the fulfillment of tax compliance across multiple subsidiaries globally. Not to mention, OneWorld makes it simple to leverage international tax regulations and global payment processing.
Oracle NetSuite offers many different options for businesses of different sizes across various industries beyond just enterprise resource planning. Choosing the right NetSuite solution depends on your business size, your day-to-day operations, and your needs.
Choosing the wrong business solution can sink your business, but implementing the right NetSuite solution can streamline your processes and increase long-term profitability.
Even with award-winning ERP and CRM software like NetSuite, you still need a knowledgeable team to implement it. That’s where we come in. Our team has decades of collective experience implementing NetSuite solutions.As the 2020 Oracle NetSuite Partner of the Year — Retail we are ready to help you get started on your journey with NetSuite. Contact our team now!