NetSuite ERP Tutorial

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With robust, sophisticated tech, NetSuite enables top companies, the most inventive mid-size organizations, as well as the most efficient small businesses. As the universal implementation of cloud accelerates, NetSuite remains a leader in providing the best cloud ERP/financials suites to organizations all over the world, allowing them to drastically reduce IT expenses while boosting productivity.

NetSuite is infinitely scalable, flexible, and built to grow and evolve with your business. According to a recent Gartner survey, NetSuite is the world's fastest-growing financial management systems supplier. It’s cloud enterprise resource planning (ERP) system now provides organizations with all of the applications they require to manage their operations efficiently while also fostering growth. NetSuite's apps for finance, supply chain, customer relationship management (CRM), human resources, professional services, e-commerce, and more are used by companies of all sizes and across dozens of industries.

Table of Contents

What is NetSuite ERP?

NetSuite ERP is a fully-featured cloud company management solution that automates basic operations and provides real-time insights into operational and financial performance to help businesses run more efficiently. This cloud-based platform comprises of a set of applications that assist firms in running their operations, understanding their effectiveness, and achieving significant profitability. NetSuite ERP combines finance, transaction processing, stock control, production, distribution network, and storage activities into a single, integrated suite of apps, giving businesses greater access into their data and improved control over their businesses. 

Consumers pay a monthly fee to access technology from NetSuite, but they are not accountable for any underlying infrastructure or system upkeep, such as acquiring and establishing servers, software configuration, or evaluating and delivering fixes and updates. 

Finally, NetSuite provides visibility and control to organizations by providing a single point of real-time data and the flexibility to create modules on the fly. This boosts their efficiency and adaptability.

How NetSuite ERP works?

NetSuite's cloud-based products are available on a subscription basis. NetSuite was an early adopter of cloud computing and is still totally focused on it; it does not offer any on-premises options.
It's a cross-tenant cloud-based solution, which means that all clients have access to the same application and back-end infrastructure and are automatically updated. Each customer's information is saved and protected separately. Since everything operates on the same code, this creates efficiencies of scale. Customers can securely access the platform via a website from whatever device, including a laptop, smartphone, or tablet.

This feature enables decision-makers to keep a record of their company's performance and be informed to any problems no matter where they are, as long as it is connected to the internet. Role-based access provides authorized employees with the information they need to succeed in their tasks without exposing them to material that isn't relevant to them. NetSuite clients get exposure to all ERP modules, as well as the functionality inside them, through an identity management portal, which contains all of the critical tools and information necessary to run your organization.

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Advantages of NetSuite ERP

NetSuite has traditionally been at the forefront of the ERP space, from customization to scalable pricing. Its ability to automate tasks that otherwise would have been completed manually, as well as a consolidated backend for all of your core company activities, demonstrate that NetSuite ERP truly has it all. Read along for the advantages of NetSuite ERP.

NetSuite makes it simple to link your third-party solutions

Although it is largely used for finance, it is also used by other departments such as marketing, sales, and human resources. Having said that, several of these divisions are already employing software tailored to their needs.

That's the brilliance of NetSuite: its benefits extend far beyond its platform, and it can really link with a variety of other platforms, including HubSpot, Salesforce, Amazon, to name a few. This integration allows users to keep NetSuite as their primary system while also managing other platforms that best suit their departmental requirements.

Increase your company's exposure

There is an everyday challenge that employees encounter while manually entering data, whether for bills or reports:  that something is always missing at the end of the month. It's unavoidable when a large number of employees use different systems and are continuously importing and exporting data. So, in a nutshell, keeping track of economic operations and determining where you've been prospering and also where you truly need to expand becomes more difficult.

Benefits from NetSuite include configurable dashboards, unified customer records, and real-time access, all of which aid in making fast business choices. These elements work together to produce a highly efficient and personalized sales cycle, as well as customer fulfillment and above-average service operations. The advantages of NetSuite ERP lead you to an automated future where everything is kept in one central, handy location. Everything is linked to the home base, no matter how many people are providing data, making it easy to detect issues and repair them.

Preparing for a Job Interview! Check out our Top NetSuite Interview Questions curated by Industry experts.

Customized pricing based on your company's needs

It's a nerve-wracking decision to switch to an ERP. The cost is typically the deciding factor in whether or not a company will take the plunge. Here's just another reason why NetSuite is advantageous to your company.

NetSuite BPO, NetSuite Basic Package, NetSuite Enterprise and NetSuite for Mid-Market, and are the four pricing choices available. Depending on the size of your company, the number of NetSuite users you require, and your business goals, your ERP sticker price will not necessarily break the bank.

Scalability of your company with NetSuite

NetSuite's scalability is a significant advantage. NetSuite grows together with your company. As previously stated, NetSuite's four-tiered packaging allows businesses to grow alongside the software. Upgrade to NetSuite Enterprise if you need additional users, and invest in the NetSuite module OneWorld if your company has gone global.

Know that when you start using NetSuite, you'll have a lifelong partner and that is really is a good thing. There's no need to consider switching ERPs every few years as your business grows; NetSuite's benefits are tailored to you and your ever-changing requirements.

Streamline your main business operations by centralizing them

Any rapidly expanding company has a number of systems functioning at any given time. Each area, from production to sales to financial and accounting, has its own platform devoted to their position and addressing their individual demands. The typical advantages of an ERP such as NetSuite include the ability to connect everything to a single core. You will no longer need to go from system to system to research numbers and analytics as an executive or high management professional. Simply log into NetSuite and your own dashboard will display the most critical reports.

Automate everything

We all want to live in stress-free environments. Manually transferring data from one system to the other, or depending on others to do so in the same manner as you, is a prescription for catastrophe. NetSuite prevents these problems by automating everything.

There's something to be said for entering data there and having it miraculously materialize somewhere else (also known as crucial programming). That is, after all, a benefit that NetSuite ERP offers. From start to finish, everything of your data is automated.

Multilingual skills are readily housed

There's nothing more frustrating than having access to specialized software only to realize that it doesn't support several languages. If the language offered is not your native language, it can be difficult to interpret ERP-specific jargon and industry-specific terminology. As a result, there is a lot of uncertainty and people fail to master NetSuite as a program. 

The support of different languages is one of the advantages of utilizing NetSuite ERP: English, French, German, Spanish, Traditional Chinese, Simplified Chinese, Russian, and Japanese are just a few of the languages accessible in Oracle NetSuite ERP. This is a fantastic solution for worldwide companies with subsidiaries in countries where English is not the primary language.

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