NetSuite ERP System: The Complete Guide

NetSuite ERP System

What is NetSuite ERP, and how does it work?

NetSuite ERP software is an enterprise resource planning system that includes modules that are hosted on a genuine cloud platform and can handle a wide range of corporate activities and functions. Business management, business intelligence, financial management, and financial reporting are all made easier with NetSuite. For decision-making, action, and KPI management, NetSuite provides real-time visibility. NetSuite is owned by Oracle.

The following NetSuite ERP modules/software suites are available:

  • NetSuite OneWorld
  • ERP
  • Professional Services Automation (PSA)
  • Financial Management
  • Order Management
  • Procurement
  • Omnichannel Commerce / SuiteCommerce
  • Supply Chain Management
  • Production Management
  • Warehouse & Fulfillment
  • Accounting Software
  • Analytics
  • Human Capital Management (HCM)
  • Global Business Management
  • CRM
  • Email Marketing
  • Financial Planning

The NetSuite Warehouse Management System (WMS) and advanced inventory management for retail and wholesale distribution are included in Warehouse & Fulfillment.

eCommerce and point-of-sale software are examples of commerce software. NetSuite order management automates and manages client sales and billing from order to cash. For a full software solution, Oracle NetSuite ERP interfaces with NetSuite CRM or Salesforce for customer relationship management and other third-party add-ons.

What Kinds of Companies Use NetSuite?

NetSuite is used by both public and private companies. Venture capital or private equity-funded high-growth small enterprises or mid-market companies to enterprise-sized Fortune 100 companies are among the business types and sizes. The NetSuite cloud ERP is designed to scale with the number of users and the needs of the business.

NetSuite’s cloud core financial management software is great for mid-sized, big, and worldwide organizations, according to Gartner. NetSuite bills itself as the world’s leading cloud ERP software vendor.

NetSuite is the ERP of choice for companies expecting to go public through an IPO at some time.

NetSuite ERP excels at handling expansion. NetSuite software enables revenue recognition and revenue management for all industries, as well as SaaS subscription billing and accounting features for SaaS software companies, in conformity with accounting rules. The project management module in NetSuite is excellent.

When a company outgrows QuickBooks, it may upgrade to NetSuite as their next ERP system if it has the cash flow or financing to cover the additional cost.

How much does NetSuite set you back?

The price of NetSuite software is determined by the number of software Suites chosen as well as the number of users. NetSuite pricing is based on individual bids. NetSuite is a mid-tier to high-end ERP solution with a cheaper entry price than Oracle ERP and SAP. NetSuite expenses include SaaS software, NetSuite training, NetSuite setup, a Premium Customer Support upgrade, and third-party add-on software.

How Does NetSuite Work With AP Automation Software Integration?

API or flat file connections are used to connect NetSuite to AP automation applications. Using an API connection, Tipalti accounts payable automation software connects smoothly with NetSuite ERP. Starting with self-service supplier onboarding, use Tipalti add-on SaaS product SuiteApp through the NetSuite login to streamline accounts payable and payments workflow and save up to 80% of time.

What Are the Key Benefits and Features of NetSuite?

• A complete cloud-based solution
• Scalable to fulfill your company’s expansion requirements
• Takes care of revenue recognition
• Takes care of user subscription billing.
• Meets the reporting requirements of public companies
• Real-time dashboards and analytics
• The OneWorld Initiative

NetSuite OneWorld is designed for multi-national businesses. With worldwide legal compliance, multi-currency, and consolidation, OneWorld handles various subsidiaries and corporate entities. It’s accessible at initial setup or as a one-time upgrade for current NetSuite users, according to the NetSuite OneWorld Guide. OneWorld is irreversible once it has been deployed.

With an upgrade to Premium SuiteSupport, Oracle NetSuite provides a high level of overall customer satisfaction as well as complete customer assistance.

How do I set up and use NetSuite?

The online NetSuite Basics guide, NetSuite videos on YouTube, NetSuite Role-Based Demos videos for the Controller, CFO, CIO, Sales Manager, Operations Manager, Support Representative, and Omnichannel, as well as a NetSuite-certified consultant and trainer, are all useful resources for implementing and learning how to use NetSuite. You might be able to learn NetSuite by using a trial account.