Picking the Right NetSuite License Option to Grow Your Business 

When business organizations decide to implement NetSuite Enterprise Resource Planning (ERP) software, decision-makers face several questions. They include the cost of the digital solution, software licensing and how to reduce license costs. A good number of business executives have a misconception that ERP implementation is a costly affair. NetSuite now provides affordable and flexible software for small to medium businesses, thanks to advancements in cloud technology.    

Selecting a suitable NetSuite license appears to be complicated. It is important to not get stuck at the analysis stage.  

Companies can opt for multiple kinds of licenses and suites depending on several factors. They include their vertical, functional requirements, size, number of customers, and requirements for particular modules inside the ERP system. The firms can also make the selection based on the price.      

Organizations can also choose an edition particular to their niche or industry. These industries run into several categories. They comprise bulk supplying, services, production, retail, software and food and beverages.  

Other categories include advertising, media, and publishing (AMP), health and beauty, garments, fashion and appliances. The other segments include tourism, campus stores and financials.

License Editions 

Every edition contains the capabilities and modules required for a specific industry. But enterprises can also include any other required modules.  

NetSuite Financial Management 

It mainly includes the cloud ERP Standard features such as: 

• General Ledger 

• Accounts Receivable

• Accounts Payable

• Acceptance of Credit Cards, ACH, Electronic Fund Transfer 

• Bank Management and Appeasement 

• Different-Currency and Language 

• Item & (basic) Inventory Management 

• Project Management Order Management

• Purchasing 

• Employee Center (Time & Expense Management)

NetSuite Limited/Starter Edition: It is suitable for emerging small businesses that are seeking the most affordable choice. This edition under standard licensing is perfect for owning a single legal entity. Firms having up to 10 user licenses and 50 employees can opt for the starter edition to scale operations.

NetSuite Mid-Market Edition: This suits organizations that require more than 10 users and allow up to 30 users. Firms that have two or more legal entities can choose this edition. The mid-market edition facilitates firms that require the potential to accomplish integrated financial reports over numerous currencies and languages.

NetSuite Premium/Enterprise Edition: This edition is for businesses that require more than 100 and 1000 users respectively.

The limited, mid-market, premium and enterprise editions have the standard features of NetSuite CRM and NetSuite ERP. The former consists of marketing automation, case management, sales force automation (SFA), and partner relationship management.

User-Specific NetSuite License 

Full-User License: NetSuite applications gain full access through a full-user license. This is more beneficial for CFOs, sales managers, and other users. That is because they need a higher level of access to the software. 

Limited-user License: This license helps workers executing mundane tasks in a project. They include expenditure reporting, documentation, purchase order requests, data entry, vendor bill and viewing inventory.

How to Acquire NetSuite Licensing? 

You can add most of the NetSuite Licensing modules at any time while your subscription is active. You need NetSuite OneWorld from the beginning if your company has more than one legal division. This means that there are different financials in different countries. 

Our team of experts helps you with licensing and obtaining the appropriate version. This depends on your company's size and needs. We have helped several businesses with installation, integration, training, continuous audits and go-live. Our experts also provide post-live support to enable them to accomplish their vision.    

NetSuite Licensing has another outstanding feature namely its open architecture and modular license strategy. It enables organizations to add and remove modules as needed.

Add-ons 

The cloud ERP software offers an industry-specific capability. It also offers add-ons that businesses can incorporate into their license and implementation. Extra features address complicated business operations including financial reporting and auditing, project management, and inventory control.      

Businesses can choose from multiple varieties of license choices. They will allow them to customize applications and modules to suit their industry better.

Select an Option That Scales With Your Business

One is often confused when determining if the size of the company fits the requirements for an ERP system. Therefore, you ought to think about entrusting the financial destiny of your business to capable hands. Jobin & Jismi assists you in finding the right licensing package for your business requirements. We also suggest ways to scale your enterprise using NetSuite. 

We can Help you Better!

We have created a number of NetSuite solutions to deal with the issues and obstructions faced by our clients. Our team of experts is there to help them get better solutions beyond their expectations. Connect with us today.