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4 Things You Need To Know About NetSuite

Posted by John Hughes | 4/26/16 5:03 PM

Is NetSuite a game changer?  It’s an amazingly comprehensive ERP solution, capable of supporting some of the largest enterprises. Its magic is that, being cloud-based, it has amazing operational flexibility but still has all the capabilities of the most all-inclusive on-premise ERP software systems in the market.

 

NetSuite is a mature product, having first launched 15+ years ago, and is the world’s leading cloud-based ERP. It’s adept at handling all the complex challenges that large businesses have to deal with on an everyday basis. NetSuite manages these business processes seamlessly and sets companies up to scale. It’s easy to grow with NetSuite because you get all the benefits of having a cloud-hosted app, but it still comes with the capacity to handle enormous data entry, process automation, and a wide variety of critical features. It truly is an excellent ERP solution.


NetSuite is an intuitive application, and very easy for end-users, because it is, after all, a cloud app. It can be easily used on any device, empowering your workforce and making your business that much more efficient. Companies are getting into the BYOD (bring your own device) environments more than ever, letting CIOs move into yet another level of cutting costs. There’s much less need for internal IT support on hardware because NetSuite lets users tap into their own device seamlessly.


NetSuite’s ease of use is an enormous asset for big enterprises. At the same time, just like all comprehensive ERP suites, the initial implementation has to be strategic and well structured. In fact, ongoing functional support is one of the best ways to get the most return out of NetSuite. It’s key to have experts that can help you tailor your system to your specific business needs, as they change, and lead you through implementation and onto adoption. Having knowledgeable resources, as usual, will make an enormous difference.  And there are a lot of things you need to understand before making your decision on which ERP system to go with. Below are four key things to know about NetSuite to help you decide if and how to implement, and to get the most out of the system in the short and long term:


NetSuite is the leading FULL cloud-ERP product

NetSuite is a cloud app or software as a service (SaaS), meaning the codebase is shared among customers to leverage economies of scale, passing the savings along to you. But unlike a lot of other cloud applications, it does not have computing or functional limitations. NetSuite is genuinely a full cloud-ERP solution.


NetSuite has a broad set of functionalities, integrations, and capabilities. It has financial analysis and reporting, inventory management, project management, accounting, and manufacturing management, just to name a few. Not only does it have all these features, but it’s easily customizable. It’s comprehensive and easily customizable, making it twice as powerful.


The app is hosted in the cloud, but that doesn’t mean you have to sacrifice any computing capabilities, functionalities, or operational benefits. It’s a full ERP product—just like the leading on-premise systems.


Customization USED to be a dirty word

Customization, when it came to ERP solutions and other apps, meant something was wrong. It meant the system you chose was not a perfect fit, so you had to invest time and resources to change the system to fit your needs. Customization meant things weren’t right. It used to be a dirty word.  


NetSuite is a very robust platform; it doesn’t box enterprises in. What’s key, though, is that it was made robust but customizable. It allows companies to assess exactly what they need, what they don’t need, and to seamlessly adapt the system to include the features they want.


When you choose to implement NetSuite, work with experienced analysts that can help you align exactly what your business goals are with the capabilities of the system.


The best resources out there will also know how to set up the workflows and operational processes to make the app scalable, easy to use, and impactful on operations. NetSuite can really optimize your existing operations if customized appropriately. Get help from resources that will maximize the return on this investment. Customization used to be a dirty word. With NetSuite, customization means you can build you own ERP suite.


Implementation and data migration take time and effort

NetSuite’s ease of use is one of its biggest benefits, but the implementation process is not for the faint hearted. It’s not a walk in the park. The implementation and data migration process has to be carefully and strategically done. It does take time and effort, despite being a cloud app.


You have to carefully decide which old data to bring over, and then meticulously clean that data. Getting help from experts will minimize any oversights on that end. All data conversion has to be done through CSV uploads, so it takes time. Once the data is migrated, though, NetSuite gives you access to all your data in one single, easy to use platform. From back office accounting to self-service portals for your investors—it’s an all in one comprehensive cloud system.


It is an investment, not a cost

The bottomline is that NetSuite helps your business scale and do it sustainably in more than just one way.


There are the immediate, big savings from SaaS— you won’t have to pay for infrastructure or hardware costs anymore. Not only will you save on those expenses right away, but you can then re-invest that part of the budget into human resources rather than technical support. By lessening the IT investment, you can put that part of the budget on hiring more talented people or on innovative projects to help grow the business. It’s a double win.


The economic benefits are great, but so are the operational benefits. By investing in NetSuite, you will empower your entire organization to work together more efficiently. All the critical pieces of the company, from sales to accounting to customer support are looking at the same information. They can collaborate seamlessly, and avoid redundancies or lack of visibility. NetSuite is a huge operational investment. It’s an investment into your team and their efficiency. Everybody in your company can be trained on the same system, and inefficient barriers are knocked down. The initial price of NetSuite is actually a big investment into your organization. The return on that investment will be felt throughout the company, and it will help grow your business sustainably.  When done strategically, NetSuite is a true investment, not a lost cost. It helps your team work better and focus on core business initiatives that grow the business.

 

 NetSuite Cloud ERP

 

Topics: Cloud, ERP, NetSuite

Written by John Hughes

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