Evan Goldberg launched NetSuite, formerly known as NetLedger in 1998 to provide web-hosted accounting management software. Salesforce.com was launched one month before NetSuite, widely accepted as the first company to offer cloud computing.
Zach Nelson became NetSuite’s CEO in July 2002 and led the company from a $1 million annual revenue run rate to a billion-dollar revenue run rate before it was acquired by Oracle in July 2016.
NetSuite: What is it exactly?
NetSuite, which is used by more than 26,000 firms and subsidiaries in more than 200 countries and territories, is the world’s most popular cloud enterprise resource planning (ERP) business management system. All financial and CRM functions, ecommerce, inventory, human resources, and professional services automation are included in the same software suite.
In today’s world, NetSuite modules are used by customers from a wide range of industries to operate their operations more efficiently and effectively. Due to its cloud-based architecture, NetSuite can be accessed from any device and from anywhere with an internet connection.
With NetSuite, businesses can centrally manage all their business processes in one place. There is no need for expensive hardware, no upfront licensing fees, no software maintenance costs, and no difficult installation procedures. The NetSuite platform enables organizations to manage enterprise resource planning (ERP), inventory, financials, host e-commerce websites, and manage customer relationships (CRM).
To increase competitiveness and save money, many companies are putting their business processes in the cloud.
What are the benefits of NetSuite for my business?
- Your employees should be able to work remotely.
- Cut your IT spending in half or more.
- Ensure complete visibility throughout the organization.
- Improve the speed at which you close your financial transactions by 20 to 50 percent.
- Make use of B2C and B2B-ready features.
- More than half the time required to complete an order.
- Take your business to the next level at your own pace.
- There should be a 10% to 20% reduction in days sales outstanding (DSO).
- You can customize workflows, dashboards, and any other feature you wish.
What is included in the package?
The #1 Cloud ERP software suite, NetSuite, provides financials/ERP and omnichannel commerce capabilities to more than 18,000 businesses across 200 countries and territories.
Cloud-based NetSuite ERP manages financial business processes like accounting, inventory, supply chain, and order management.
With NetSuite, you get a 360-degree view of your customers on-demand.
Automatically generate project plans, track projects, and carry out projects with the NetSuite Professional Services Automation (PSA).
With one database, you can manage operations around the world in several currencies, languages, and countries using one real-time, unified platform.
Including point of sale and order management for your online store, as well as merchandising, inventory management, accounting, and customer support, e-commerce integrates all aspects of your store.
Retail software from NetSuite is a strong cloud-based solution that caters to your omnichannel customers.
With NetSuite’s manufacturing solution, you can focus on delivering products and services while retaining the flexibility needed for scalable growth.
How does NetSuite ERP work? Known as the most popular cloud-based ERP, it lets businesses handle critical financial functions including accounting, supply chain, order management, inventory, and more through a single, secure interface. A fully customized view of key performance indicators (KPIs) and reports tailored to certain roles is provided by this product with its built-in business intelligence capabilities and finance management features.
With NetSuite ERP, businesses can streamline and improve processes, develop real-time dashboards with engaging graphical reports, use forecasting tools, and much more.
NetSuite CRM Sales & Marketing Overview
How does NetSuite CRM work? It’s a cloud-based customer relationship management (CRM) tool that provides sales and marketing teams with a 360-degree view of their customers. With it, firms can track all client touch points throughout the customer life cycle – from lead to opportunity to cross-sell and support. Quotations, commissions, integrated e-commerce capabilities, order administration, sales forecasting, and more are all included, as are automation, marketing automation, and customer service management.
In addition to integrating natively with your ERP and other NetSuite modules, NetSuite CRM offers other advanced features.
Pricing and Cost of NetSuite:
Businesses evaluating NetSuite might have difficulty finding accurate and precise information regarding NetSuite installations, because each web component, data integration, and system are unique.
What is NetSuite’s cost?
There are many variables that affect the price of NetSuite, including the product configuration selected, the required add-on modules, and the number of users. In addition to the standard platform license, NetSuite feature modules can be purchased as optional add-ons. You can purchase individual access to a cloud-based universal platform, and you can add users as needed.
A NetSuite subscription is sold on a subscription basis that can be renewed annually or for longer periods of time. There are a number of pre-bundled vertical versions that will help you identify the packages and modules you need. It’s up to you when to scale up and choose the option that’s right for you.
NetSuite licensing expertise:
Having over 1,500 NetSuite clients, RSM is one of the leading NetSuite solution providers and value-added resellers. We are thus in a unique position to provide you with information about the NetSuite purchase process so that you can obtain the best NetSuite pricing. NetSuite pricing responses based on your company’s specific needs will unavoidably differ, as we aim to provide you with as much information as possible when selecting NetSuite as an enterprise resource planning (ERP) platform.