Blog Credit: (What is NetSuite and How Does It Work? | NetSuite)
NetSuite ERP is an all-in-one cloud business management solution that helps organizations operate more effectively by automating core processes and providing real-time visibility into operational and financial performance. With a single, integrated suite of applications for managing accounting, order processing, inventory management, production, supply chain and warehouse operations, NetSuite ERP gives companies clear visibility into their data and tighter control over their businesses.
Make Better Decisions
Access financial, operational and transactional data from across the organization. Easily customize dashboards, reports and visual analytics to provide a summary-level overview or an in-depth account of business activity.
Simplify Your Business
Manage accounting, inventory, operations, distribution and more from a single application. Automate manual processes to save time and free up resources to better serve customers, identify new opportunities and outpace the competition.
Run a Global Business With Ease
Effortlessly manage multiple subsidiaries, business units and legal entities with one ERP solution. Get real-time visibility at local, regional and headquarter levels, and standardize business processes across all divisions and subsidiaries. NetSuite ERP is used in more than 200 countries, supports over 27 languages and 190 currencies — and can handle your global business with ease.
NetSuite ERP Benefits
- Automate Financial Processes. Improve financial operations, efficiency and productivity.
- Gain Inventory Visibility. Monitor inventory levels, minimize carrying costs and deliver orders on time.
- Supply Chain Optimization. Control the flow of goods across the value chain, from suppliers to customer.
- Flawless Order Management. Error-proof your order management and procurement.
- Increase Warehouse Efficiency. Optimize the putaway process and reduce picking errors.
5 Core Features of NetSuite
What separates NetSuite from other cloud solutions? Here are five highlights:
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
NetSuite ERP Features
NetSuite ERP delivers wide-ranging benefits by automating business processes, improving operational awareness and giving organizations greater control over their resources.
Transform your general ledger, optimize AR, automate AP and streamline tax management. Get a complete view of cash flow and financial performance.
Expedite daily financial transactions, accelerate the financial close process and ensure compliance. Get a complete, real-time view of your business’s financial performance, from a consolidated level down to individual transactions.
Global Business Management
NetSuite OneWorld helps companies manage global operations, including multiple currencies, taxation rules and reporting requirements, across geographies and subsidiaries, all while providing real-time financial consolidation and visibility.
Automate the management of your inventory. Keep inventory costs low while meeting customer delivery expectations. NetSuite delivers tools for tracking inventory in multiple locations, determining reorder points, managing replenishment and optimizing safety stock.
Streamline order processing by eliminating manual bottlenecks, preventing errors and establishing a smooth flow from sales quote to order fulfillment. The result: timely invoicing and payment.
Supply Chain Management
Where an item is produced or stored shouldn’t keep a business from meeting customer needs. NetSuite eases the process of moving goods or materials through an extended supply chain.
Optimize warehouse operations with RF-device-directed putaway and picking tasks, driven by customized, user-defined strategies and advanced capabilities like wave management, cartonization, cycle count planning, real-time inventory updates and shipping system integrations.
Challenges NetSuite ERP Solves
- Manual Processes. Automate and streamline manual processes that waste time and resources
- Data Accessibility. Quickly and easily access real-time data across the organization
- Data Integrity. Provide stakeholders with timely, accurate financial statements, inventory reports and more
- Meeting Expectations. Deliver promised order accuracy, on-time delivery and cost savings
- Balancing Supply and Demand. Manage supply chains in the face of rapid change, rising costs and shifting buyer behavior
- Inventory Insights. Plan and balance inventory to meet demand
Achieve Better Business Results with NetSuite & Circular Edge
Grow and scale your business while gaining a competitive advantage with NetSuite’s best-in-class integrated cloud business software and Circular Edge’s expertise in NetSuite implementation, advisory, managed services and direct staffing. Let us show you how to leverage our direct staff pool of resources to realize better insights, organizational efficiency, increased profitability and improved relationships with your suppliers and customers – and ultimately take your business to the next level.
Contact Circular Edge today to learn more about our NetSuite consulting services.