What is NetSuite ERP? A Helpful NetSuite Software Overview Q&A

NetSuite ERP

So many of these products, you look at them and they look like windows XP. People are no longer willing to use a system that has such old clunky technology because they’re used to everything else in their life working easily on their computer and having it integrated. They’re used to the iPhone being able to do things that it was never designed to do because it’s got an app on it. I think there will be companies that do develop new technology and stuff like that. It takes years to catch up in the ERP world, but there will be people that do modern development and that will eventually emerge as competitors to NetSuite. Intacct and Acumatica are two of the ones that are closer than anybody else, and those are good products.

With Oracle standing behind it, it’s very, very strong financially with the user groups — the user base that’s now using it. One of the things that we’re dealing with right now is that we get calls like, “I’m a new CFO at a company and I’ve used NetSuite before. I already know how to use it, just turn it on and let me use it”. Pre-pandemic, they were advertising that they had 18,000 companies using it. They had a down year comparatively last year because NetSuite has been growing year over year at a rate of 30%. When I say a down year, that means I think they’d only grown by roughly 14%. I mean, Oracle paid 9 billion to re-acquire NetSuite and one of its close competitors, Sage Intacct.

Dashboards and views of NetSuite can be tailored based on the user accessing the system, allowing for the user interface to be made as simple as necessary for each of your system users. NetSuite allows companies of any shape and size to manage their entire business applications in one unified system. It even handles the diverse needs of global businesses that use different currencies, languages, tax laws and reporting requirements. Each user’s data is stored and secured separately. NetSuite’s security team provides round-the-clock monitoring to ensure the strongest operational data center security. For instance, implementing strong encryption, role-based access controls and robust password policies are just a few ways NetSuite protects its users. Additional layers of protection include multifactor end-user authentication and token-based application authentication.

That time savings alone, there’s cost value there from a human resource standpoint. From there, we start to stair-step the project up to increase the functionality that they’re using and increase departments that are on the system. What happens is, when people start using the system, they start understanding the system. They began to learn how to roll out these other functions with their own internal people. When you contact a traditional ERP provider it takes them weeks and weeks to configure.

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This software suite unifies core business processes that include financials, CRM, ecommerce, inventory, HR, professional services automation, and more via a single, fully integrated system. NetSuite ERP is a scalable ERP solution customized for the needs of high-growth businesses.

NetSuite ERP

What other products are out there that tie into NetSuite that are going to help us? We spent another $50,000 on scan guns to make it that much quicker, that whole business case answers all of those questions. That’s always our first step — to understand that.

What is unique about NetSuite?

NetSuite provides licensing options for bundled module editions as well as a la carte licensing of advanced modules, varying levels of user access, and flexible length contract terms. All of NetSuite’s data centres feature advanced architecture with data backup and redundancy, disaster recovery, and failover capabilities. All these data safety measures working together have seen NetSuite consistently meet a 99.98% service uptime to its customers, globally. Find out more about NetSuite’s data centre capabilities. Oracle NetSuite was first created in 1998 under the name ‘Netledger’ by entrepreneur Evan Goldberg, providing web accessible financial and accounting software.

  • Oracle NetSuite customers can deploy the ERP solution in any of 11 data centers globally.
  • It’s not just a financial system with inventory bolted on or a sales and marketing system with CRM functionality.
  • One of the things that I did, was I had all of my clients going into NetSuite and they were loving it.
  • They had to work around that and they had to reconcile that.
  • ERP software integrates various functions into one complete system to streamline processes and information across the entire organization.
  • Terillium is an award-winning Enterprise Resource Planning consulting company and Oracle Platinum Partner.
  • A lot of our e-commerce companies are using the NetSuite platform — a lot of startups.

Some providers refer to their software as an “ERP system” without it being the whole truth. An ERP manages all core functionality within the one platform. On the hardware side, JCurve ERP uses NetSuite’s data centres which all exist on fully guarded premises with 24/7 monitoring and CCTV surveillance. There’s also a dedicated, global security team keeping constant checks, along with multiple levels of security for physical access to all data centre locations. Cloud-based data access may seem like a modern idea, but in reality, it’s been evolving for decades now and is more a part of our everyday life than you may realise.

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You can’t take a quick look at a grid to check stock – you have to run a report for that. To do on a sales order a very cumbersome “deposit” method. You can’t do an exchange – you must do a credit memo, then an invoice, then marry the two – . Barcode scanning only works in a few transaction types – and then not all the time. Quickbooks is better for syncs to banks and credit card agencies. You can import data, but it is very particular, so you need to get your CSV’s then reformat to make netsuite happy – when we were on quickbooks, everything connected on it’s own. No great way to reconcile paypal – again it connected in our old system and a daily reconcile was easy – now it has to be done with manual imports and matching.

  • The Kraft Enterprise Systems team made the deadline in a seamless way.”
  • With that said, you should find an ERP software that you will be able to use with ease.
  • This module fulfills all the needs of the manufacturing organization.
  • Gain control and visibility of your full operations with a cloud-based business-management platform worthy of anchoring your end-to-end systems roadmap.
  • Make rapid changes, which are reflected instantly to give you an accurate view of the payroll company-wide.
  • Learning of software – The customer’s internal team observes and learns new enhancements and finds gaps in the process.

High-profile companies often receive projects, many of which won’t be accommodated due to certain constraints. With Scoro, you can book all the projects the company can take on and schedule them in such a way that their workloads won’t coincide. Quotes can also be produced in a jiffy and then sent out to prospective clients. Acumatica promotes greater visibility through robust accounting tools. If you think NetSuite ERP is too basic for your needs, we have other options for you. We have reviewed the main benefits and functionalities of the top NetSuite ERP alternatives, giving you solid and compelling reasons to choose NetSuite ERP or any of the alternative products.

Why use Kechie ERP instead of NetSuite ERP?

Built for small and medium-sized companies, Acumatica is the business management solution for organizations that offer telework and mobile setups. Like NetSuite ERP system, Microsoft Dynamics NAV serves companies in many industries, mostly in the mid-size to large enterprise company range. Both ERP systems have excellent inventory management, distribution, manufacturing, and project management capabilities. Loyal customers in manufacturing and distribution industries like the much older Dynamics NAV software. Microsoft Dynamics NAV deployment options include on-premises, private cloud, and Azure, or a hybrid combination. NetSuite ERP enables businesses of all sizes and industries to automate manual processes to save time and free up resources to better serve customers, identify new opportunities, and outpace the competition. As the first cloud ERP system, the solution helps businesses worldwide gain the agility to build and run a successful business.

  • Orders can be filled and tracked more quickly and easily, with inventory levels updated in real time.
  • In this section we’ll discuss the third party extensions and add-ons for Oracle NetSuite which provide additional functionality to the coreOracle NetSuite product.
  • Powered by AI, Rossum offers an all-in-one platform to help businesses collect, process, and organize different types of relevant documents from invoices, claims, and purchase order transactions among others.
  • Evolve, keep pace and grow with a fully up-to-date IT environment geared for innovation, scale and business transformation.
  • We provide comprehensive, unbiased, and authentic information about Enterprise software systems.

Now, pretty much all we do is cloud-based software or ERP. We focus on the made-for-cloud products, but NetSuite accounts for probably 50% to 60% of those deals. “Kraft Enterprise Systems was 100% ‘on my team’ the entire way and saved us countless hours post integration with their excellent training and straightforward solutions.”

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Now, you’re not saying, “We need this new $30,000 module. It’s going to be $100,000 in consulting hours to implement it”. It’s more like, “We need this $30,000 module, and we may spend $10,000 on outside consultants to help us do it ourselves”. One, you get instant success because you’ve got the system up and running and people are beginning to adopt it. They like it, it’s successful, it’s a valuable tool.

  • But when it comes down to logging on and seeing the things that I need to take care of today, and when I improve something, it appears on somebody else’s desktop.
  • If we, understand that on a deep level, we’ve got people, we can get them to buy-in.
  • What I tell my clients is, “How many of you guys have a phone in your pocket?” I’ll say, “Do you like the customizations on your phone?” They’ll reply, “What are you talking about? There’s no customization on my phone”.
  • Secondly, it’s very robust and fully customizable.
  • And in case your partners make changes to their requirements and specs, Rossum recognizes these and applies the new information to the document collection and processing.
  • With the real-time system accessible across desktops, smartphones, and tablets, a business can be conducted anywhere, anytime.

In 20 minutes, if there’s a system provision for me ready to use, I’m ready to go. Utilizing NetSuite ERP empowers businesses to streamline and optimize processes, create real-time dashboards with engaging graphical reports, utilize forecasting tools and much, much more. Dashboards and reporting across all business functions–sales, service, finance and operations. A predictable recurring revenue stream can make or break a company in today’s economy–but to manage it effectively, sales, service and finance must partner closely. Reduce effort with automated creation of invoices based on payment terms and automation of complex billing processes such as recurring, time and project-based billing. Improve employee collaboration and help business processes flow more smoothly through powerful group-calendaring capabilities, calendar sharing, and the development of schedules for each project or activity. Employees can check the status of their expense reports online and in real time.

My only advice is to be aware of the experience of the previous implementation on the NetSuite platform and be aware if these implementers also sell other solutions. I deal with some implementers that sell SAP as well and they sell Microsoft as well and these kinds of platforms need their own people due to the fact that it’s not fixed. It’s integrated into everything well so you can navigate and use it in a very simple way.

Maximizing cash flow is a priority for businesses of every size. A best-in-class order management process results in a faster path to recognized revenue, improved operational efficiencies, and higher customer satisfaction and renewals.

NetSuite ERP

We specialize in helping businesses implement state-of-the-art technology solutions including Oracle JD Edwards, Oracle ERP Cloud, and Oracle NetSuite. While NetSuite has broad capabilities that can be utilized effectively across many industries, the software is optimized to be used best for specific ones. More than 40,000 companies in more than 160 countries run NetSuite in industries such as distribution, manufacturing, professional services, high technology, publishing, retail, nonprofits and more. NetSuite, while more commonly utilized by small- and mid-sized businesses as their ERP solution, can be operated by companies of any size thanks to its scalable and agile nature. As smaller businesses grow and expand, NetSuite continues to offer the same useful tools that accommodate your operations and still provide a clear end-to-end picture of your business at every stage.

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Two weeks later, I was in another company that was using QuickBooks and they were about the same complexity and they were a $30 million company. I worked with some of the largest NetSuite resellers in the world — they’re partners of mine.

What is NetSuite ERP?

They would say, “But our CFO used to work in a company that has NetSuite. He thinks he can do it. He wants to do it”. By pushing the market like https://www.bookstime.com/ that, NetSuite got into a lot of areas that they wouldn’t have broken into previously, but people had used NetSuite before and they loved it.

What is the difference between QuickBooks and NetSuite?

NetSuite is a more comprehensive program that offers features such as a customer relationship management (CRM) tool, enterprise resource planning (ERP) and e-commerce solutions. QuickBooks is a simpler program that is mainly used for basic accounting tasks such as invoicing, mileage tracking and payroll.

Its powerful automation features allow you to streamline a number of repetitive tasks. It is easy to navigate, enabling your organization to quickly adapt to the software. Brahmin Solutions has clear and direct pricing scheme and offers unlimited add-ons. If you want to check out other similar products, you can check these Acumatica alternatives. It streamlines NetSuite ERP payables for both invoice-based and performance-based workflows. Our client is one of Korea’s largest food retailers operating convenience and grocery store formats as well as a network of distribution centers to support online retail. We are realistic from day one in our budget and timeline discussions – we don’t just tell you what you want to hear.

Through all of this, you have to remember that there were no cloud-based ERP systems. Everybody was terrified to put their financial data into this cloud thing everybody was talking about until NetSuite came along. Now, NetSuite has roughly 22,000 companies using it. Every single ERP vendor in the world now has a cloud version to try and compete with NetSuite. The problem is, if I call Salesforce today or NetSuite tomorrow and say, “Hey, I want to license this, here’s my credit card”.