Today, NetSuite is considered by many to be the #1 Cloud ERP software in the world. The cloud-based service enables companies of all sizes to manage critical business processes with a single system.
NetSuite provides a software suite of cloud-based financials, Enterprise Resource Planning (ERP), and omnichannel commerce software. Above all, companies can manage critical business processes like ERP, inventory, financials, eCommerce, and customer relationship management (CRM).
Nearly all types of companies from the manufacturing and distributing industry use NetSuite for essential business management. But how did NetSuite become the premier business management solution for enterprises and small to midsize businesses? For that we have to take a quick trip down memory lane:
The First ‘Cloud’ Company
In 1998, Evan Goldberg founded NetSuite with funding provided by Larry Ellison, Oracle Corporation’s executive chairman. Then, the company was known as NetLedger and was the first company to offer web-hosted business applications to users. Many consider it to be the first cloud computing software company.
After assembling a veteran leadership team, NetSuite went public in 2007 and saw significant growth. Back then, software delivered through the Internet was the future. With NetSuite’s dedication to the value of internet-based services, they pioneered Saas technology as a form of business management. As a result, the company quickly saw its run rate increase from about one million to a billion.
In 2016, Oracle officially acquired NetSuite, with the companies merging its combined resources to serve small to midsize businesses and global enterprises effectively. Today, NetSuite provides its software to more than 21,000 companies and organizations in over 200 countries and territories.
What Products Do They Offer?
When it was first released, NetSuite initially focused on providing bookkeeping and accounting services. Then, the system quickly grew to support other key functionalities, including enterprise resource planning (ERP), customer relationship management (CRM), and eCommerce.
Currently, there are several main categories of software products available from NetSuite that can be licensed through a subscription model. These products also come with optional implementation and support services. Here’s a quick rundown:
1. NetSuite ERP
NetSuite ERP handles all of your vital financial business processes in the cloud, including accounting, inventory, order management, and supply chain.
2. NetSuite OneWorld
Includes all of the services offered with NetSuite ERP, but also more capabilities for multinational companies to manage multiple subsidiaries, currencies, and tax requirements.
3. NetSuite CRM
NetSuite CRM provides you with a 360-degree view of your customers across the entire customer lifecycle, along with Sale Force and Marketing Automation.
4. NetSuite SuiteCommerce
This eCommerce platform from NetSuite enables both B2B and B2C companies to provide a consistent and personalized eCommerce experience.
5. NetSuite PSA
NetSuite PSA, or professional services automation, helps your teams accurately plan, execute, and track projects.
6. NetSuite SuitePeople
This human resources management solution weaves personnel data throughout the suite, giving you control over your core HR processes.
Why is it So Valuable?
NetSuite’s highly customizable and integrated platform is ideal for managing business processes for modern and global companies. Since it’s a cloud-based solution, NetSuite requires no on-premise installation or infrastructure investment.
Also, because NetSuite solutions can be customized for each unique company, it comes with built-in flexibility. You can scale up or spin-off with ease, or even adopt a new business.
Lastly, NetSuite’s real-time analytics provide businesses with real-time insights, enabling you to know what should be done and how current processes impact the business. With both visibility and control, you can make more informed decisions.
Who Uses NetSuite?
From startups to enterprises, all types of companies rely on NetSuite to automate workflow, simplify management, and provide a satisfying eCommerce experience. In particular, businesses operating in manufacturing, distribution, retail, software development, or professional services can benefit from NetSuite’s wide range of management software solutions.
As a SaaS Business Management Suite, NetSuite is suitable for any modern company looking to streamline business processes on the back end while providing an omnichannel eCommerce experience on the front end. For any company seeking to take your business to the next level, NetSuite may be the right solution for you.
How We Can Help:
Even with an award-winning ERP solution like NetSuite, you still need a knowledgeable team to implement it. That’s where we come in. As a NetSuite Partner with over 35 years of collective experience, Kodella knows what it takes to deliver a complete, end-to-end ERP solution tailored to the needs of global services companies. Contact our team now!