A Deep Dive into NetSuite Products

Oracle NetSuite is #1 cloud ERP software because of its highly customizable and scalable nature. Being a cloud ERP system, it carries a range of benefits like a subscription-based business model, easy access to data 24/7, and scalability. The software is highly industry-specific and features state-of-the-art functionalities like real-time dashboards, customized reports, advanced financials, and business intelligence capabilities. 

Learn About All the NetSuite Products

1. NetSuite ERP
2. NetSuite CRM+
3. NetSuite SuiteCommerce
4. NetSuite SuiteSuccess
5. NetSuite Oneworld
6. NetSuite SuitePeople
7. NetSuite Professional Services Automation (PSA)

NetSuite ERP

NetSuite is known for its Enterprise Resource Planning (ERP) system. It is used across various countries and industries including some of the industry heavyweights. NetSuite runs all its operations in the cloud and has its own state-of-the-art business intelligence tools. 

From real-time reporting to analytics, NetSuite is capable of helping business organizations with data-driven decision-making capabilities and hold control of the entire business operations seamlessly. 

NetSuite Features

1. Financial Management

NetSuite’s financial management module provides quick insights into the financial performance of the business. The cloud-based platform can seamlessly handle financial closes and daily financial transactions while ensuring regulatory compliance. Also, it is always easy to drill down into any aspect of the business from a consolidated level as well as individually. The financial management module in NetSuite effortlessly integrates with other NetSuite branches like inventory, CRM, and eCommerce fronts.

Major Modules in NetSuite’s Financial Management:

• Finance and Accounting
• Billing
• Revenue Recognition
• Financial Reporting
• Global Accounting and Consolidation
• GRC (Governance, risk, and compliance)

2. Planning and Budgeting

Planning and budgeting is often painted as this long resource-heavy process. But with NetSuite, executives can quickly look at the entire company’s functioning with a button click and automate several key operations.

This includes budget forecasts, advanced reporting, and what-if scenario data modeFulfillmentsls which can help officials in making data-driven decisions. With NetSuite ERP, the company’s core finance team gets complete operational visibility of the entire organization - helping them create budget reserves and withstand unplanned events. 

Benefits:

• Improve planning cycle time
• Better Forecast accuracy
• Centralize your organization
• Complete visibility and insights

3. Order Management

Order management is one of the crucial aspects of an ERP system, especially in high-volume businesses. NetSuite is known for removing operational bottlenecks and ensuring seamless flow of operations through automation. Right from sales quote to order fulfillment to invoice and payment, NetSuite integrates all your activities under one roof thus making room for better order and billing management. 

Major features in NetSuite’s order management

• Pricing and Promotions
• Sales order management
• Returns management

4. Production Management

Manufacturers hunting a complete business solution can finally rest with NetSuite’s production management module. Production planning, warehouse management, financial accounting, Inventory management, customer relationship and ecommerce is now easy with NetSuite’s production management module. 

NetSuite helps run your business efficiently through standardized industry best practices. From creating sales order to product costing, NetSuite monitors the entire production cycle in real-time - thus making the process more efficient and helping you make informed business decisions.

Features

• Product Data Management
• Work Order Management
• Planning and Scheduling
• Quality Assurance
• MES (Manufacturing Execution System)

5 Supply Chain Management

Globalization altered the face of SCM (Supply Chain Management), companies now have their manufacturing facilities in one continent and distribution in another. Managing different timelines, people and governments is a hectic process. With NetSuite, you can run all your  Global/ local operational requirements in a single platform seamlessly. backed by data decision-making that will improve your ROI and ease your operations.

Features

• Planning
• Execution
• Collaboration
• Support

6. Warehouse and Order Fulfilments

With proper control over inventory, fulfillment, and shipping costs, companies can considerably improve operational visibility and labor efficiency. NetSuite’s WMS (Warehouse Management system) can help you manage, track and deliver appropriately across multiple locations. WMS systems also lowers the TCOs (Total Cost of Operation) for the company while increasing the speed and efficiency of the warehouse operations. Warehouse related operations like receiving and fulfillment (pick, pack and ship) can also be managed efficiently with NetSuite.

Features

• Inbound Logistics
• Outbound Logistics
• Inventory Management
• WMS

7. Procurement

Purchasing gets complex when several processes and protocols are followed. Manually processing bulk data is no longer efficient. NetSuite’s procurement module can save the end-users time and money with timely intervention. With NetSuite, automation of Pre-negotiated contracts or approved supplier channels becomes seamless thus improving the overall performance. Real-time visibility into each of these ordeals makes NetSuite’s procurement module a must-have for manufacturers.

Features

• Source
• Purchase
• Pay

8. NetSuite OneWorld

Businesses with multiple outlets or subsidiaries across the world find it hard to scale rapidly. Dealing with multiple currencies, taxations and policies can entirely affect their business. Managers and C-suite executives are rarely able to track updates on the movement of business processes. 

NetSuite OneWorld specifically addresses these aforementioned issues. It is a real-time global management platform through which enterprises can run their multi-national, multi-subsidiary businesses. Interestingly the cost of running this cloud software is lower than running disparate point solutions across the globe that have zero connectivity.

Features

• Global ERP Features
• Global Ecommerce
• International Capabilities

9. NetSuite CRM (Customer Relationship Management)

The world is moving towards personalization and the importance of customer relation cannot be stressed enough. NetSuite’s CRM provides a real-time view of all your customers in its entirety. It is possible to track the customer lifecycle right from lead generation to fulfillment - including features like: upsell, cross-sell and support. Some benefits of NetSuite CRM include quotes, sales forecasting, integrated ecommerce, and quote management.

10. NetSuite SuitePeople

SuitePeople is exclusively designed for HR(Human Resource) processes like new hires, employee onboarding, performance management and payrolls. Apart from these HR oriented processes, it also enables employees to request time-offs, access employee directories and analyze new hires.

• Centralized payroll
• Automated Recruitment
• HR Analytics
• Source
• Purchase

11. NetSuite Professional Services Automation (PSA)

NetSuite's leading Professional Services Automation tools helps you manage your company's entire Bid-to-Bill operation. Being a cloud-based software, NetSuite ensures a seamless ERP experience. 

Although service processes are changing rapidly, NetSuite is efficient enough to expand and configure according to growing needs of the industry.

Features

• Billing
• Analytics
• Project Accounting
• Project Management
• Resource Management
• Timesheet Management
• Expense Management

12. NetSuite SuiteSuccess (Migrate to cloud in 100 days)

SuiteSuccess was built with one idea - make it easy to run the software for businesses. SuiteSuccess was created to ensure that processes like distribution, product, logistics, and services departments are fully integrated. A complete ERP system that runs Enterprise Resource Planning, Customer Relationship Management, Professional Services Automation, Omnichannel Commerce, and Human Resources. 

SuiteSuccess delivers leading practices across various industries and roles. This is applicable to KPI reports, dashboards and workflows.

13. NetSuite SuiteCommerce

NetSuite Suitecommerce is a one stop solution for all your eCommerce needs. SuiteCommerce enables companies to transform from multiple standalone platforms like web, in-store, and phone shopping platforms to a unified commerce platform that links ecommerce and in-store POS to order management, inventory, merchandising, marketing, financials, and customer support. 

Benefits

• Ability to integrate e-commerce into the existing business processes.
• Delivering a consistent brand experience.
• A responsive web design that optimises the user experience across all devices.
• Accommodate customers of any size .
• Selling through multiple brands, currencies, and languages will help you grow your online business.

We Can Help

Jobin & Jismi is an alliance partner of Oracle Netsuite. Our NetSuite certified professionals can implement the software while maintaining world-class standards. Connect with us today for a seamless implementation experience.