How to leverage Enterprise Resource Planning (ERP) data so you can analyze and improve customer churn for your business....
Top 8 benefits of Oracle NetSuite ERP
Making the move to an ERP is no easy decision, it takes time to understand each system and to know which one is best for your business. One thing’s for sure, adopting a Cloud platform is nothing but advantageous for your organization. The benefits of NetSuite ERP are numerous and will help your growing business reach its full potential.
From customizations to scalable pricing, NetSuite has long been at the forefront in the ERP space. Its ability to automate what would otherwise be done manually as well as a centralized backend for all your core business processes are evidence that you really can have it all with NetSuite ERP.
1. Easily integrate your third-party systems with NetSuite
If I’m being completely honest, I don’t think I have the bandwidth to list every integration that NetSuite supports. While used as a centralized system primarily for finance, its usage extends to other departments, including marketing, sales, and human resources. That being said, many of these departments are already using software designed specifically for their position.
That’s the beauty of Netsuite, the advantages of this ERP software stretches well beyond its actual platform and can actually connect with a variety of different systems: HubSpot, Salesforce, Amazon, and Shopify are just a few worth naming. This integration enables users to keep NetSuite as their base system, all while continuing to manage other platforms that fit better with each of their departmental needs.
NetSuite’s key partner solutions are framed to create the perfect ERP for businesses experiencing absolute challenges. Whether it be supply chain and demand management or eCommerce applications, the software designed by these partners can be integrated as an extra system to your Oracle NetSuite ERP. Depending on your industry, service, or product, these solutions will face your organization’s challenges head on and provide first-rate results.
So, how exactly does one connect these systems? Strategically not mentioned until now, there’s an integration for integrations. Boomi’s iPaaS Cloud integration solution automatically connects each third-party system to the central station known as NetSuite.
2. Establish visibility for your business
Life without an ERP is like a cheese board without Brie, it always appears that something is missing. This is the daily struggle employees face when manually entering data, whether for invoices or reports - at the end of the month, something’s bound to be missing. It’s inevitable when many people are using different systems and constantly importing and exporting data around the clock. Because of this, it becomes harder to control business processes and know where you’re excelling and where you need to improve.
NetSuite benefits enable certain features like customizable dashboards, unified customer records, and real-time access, which in turn are used to help make timely business decisions. These components create a highly efficient and personalized sales cycle, customer fulfillment, and above satisfactory service processes. NetSuite ERP benefits guide you to an automated world where everything is held in one core, convenient place. No matter how many users you have inputting data, everything is linked to the home base, making it easier to pinpoint errors and subsequently fix them.
3. Customize NetSuite to fit your business requirements
If that’s not enough, NetSuite’s platform has over 30 different modules and a multitude of add-ons. These customizations are designed to fit the unique needs of each business. It’s no doubt that the benefits of an ERP are its modules, which are extensive and help multinational companies consolidate their data as well as provide organizations with better visibility to their reports and analytics.
Perhaps you have multiple subsidiaries on a global scale. In that case, NetSuite OneWorld is the perfect solution for your organization. In one unified system you will have access to: various currencies, taxation rules, and reporting requirements; a global customer relationship management (CRM) for complex multinational sales needs; and worldwide access to financial, customer, and business data - no matter where you’re located.
Customization covers NetSuite’s limitations when it comes to desirable reporting. GURUS Business Intelligence (BI) tool is a sophisticated add-on that provides top-notch visibility into your business through high-end reports. Customized to represent the role within your organization and mirrored via your dashboard, these reports are primarily located within NetSuite and give insight into your business through analytics based on customers, departments, sales, and more.
4. Flexible pricing package based on your business
Making the move to an ERP is a nail-biting decision. More often than not, it’s the price tag that deters businesses from taking the leap. Well, here’s yet another reason why using NetSuite is beneficial to your business.
NetSuite’s pricing strategy is composed of four tiers: NetSuite BPO, NetSuite Starter Package, NetSuite for Mid-Market, and NetSuite Enterprise. Based on the size of your business, the number of NetSuite users you require, and your professional goals, your ERP price tag won’t necessarily break the bank.
At GURUS, our pricing calculator matches you with one of our specialists, where they will guide you through the different packages and pricing in order to fit you with the correct NetSuite package and price for your business.
5. Centralize your core business processes
Any fast-growing business has a variety of systems running at a given time. From marketing to sales to finance to operations, each department surely has their own platform dedicated to their role and supporting their specific needs. The typical benefits of an ERP like NetSuite actually enables you to connect everything to one core. As an executive or upper management professional, you no longer will need to go from system to system to research numbers and analytics. Just pop into NetSuite and your customized dashboard will highlight the important reports.
This also means that you no longer wait to hear back from what each department is doing, you can easily just see it within NetSuite. For example, in sales as a lead comes in through HubSpot, instead of going into HubSpot and looking into the lead’s contact information, you can connect these two systems together and the leads will automatically enter into NetSuite. Hit the Fresh Money tab and all the data a sales director needs to know is there.
6. Scale your business alongside NetSuite
Just like the Sun shines and gives us Vitamin D, the advantages of an ERP implementation are quite similar. That was no hyperbole, I promise! An important benefit of NetSuite is its scalability. As your business grows, so does NetSuite. As mentioned above, its four-tiered packaging allows for companies to expand alongside NetSuite. If you require more users, then upgrade to NetSuite Enterprise; if your business has gone international, invest in the NetSuite module, OneWorld.
When you launch NetSuite, know that you have a partner for life (which really is a good thing). No need to think about changing ERP’s every few years as you expand, the benefits of NetSuite are designed to suit you and your ever-changing needs.
7. Automate everything for ease of mind
As mentioned throughout this blog post, an ERP system and its benefits go above and beyond. But if there’s anything that outshines the rest, it’s automation. There’s something to be said about inputting data somewhere and having it magically (also known as critical programming) appear elsewhere. Well, that’s an advantage NetSuite ERP brings to the table. Automating all your data from the beginning to end.
Stress-free environments are what we all strive for. Manually entering data from one system to another, or relying on others to input it the same way you do, leads to what is known as a recipe for disaster. NetSuite avoids these crises by automating it all. I could continue saying the word “automation” for as long as I want, but I think at this point you all understand its importance.
8. Conveniently houses multilingual capabilities
There’s nothing more discouraging than having access to a specialized software only to discover its lack of multilingual capabilities. Between ERP-explicit vocabulary and industry-specific terminology, if the language provided is not your Native language, it can be hard to decipher these words. This leads to confusion and failure to master NetSuite as a software.
The benefits of using an ERP like NetSuite is its support of multiple languages: English, French, German, Spanish, Traditional Chinese, Simplified Chinese, Russian, and Japanese are among the languages available in Oracle NetSuite ERP. This provides a great service to international companies with subsidiaries in locations outside of English-speaking countries.
A few benefits mentioned, such as offering multiple language choices within its system and its ability to scale as your business grows, there’s truth behind NetSuite being the #1 Cloud platform.
As a top NetSuite service provider in North America, we’re proud to implement NetSuite to growing businesses looking to automate their core data and bring even more visibility to their company. Before making the big should-I-or-shouldn’t-I question about an ERP, try our NetSuite 14-day free trial to see if it’s right for you.