The Top Benefits Of Implementing NetSuite ERP For Wholesalers
Wholesale Distribution businesses are focused on one major point if they’re determined to be successful: Getting the right products to the right people at the right time.
That’s why once a distribution company sees accelerated growth, managing that major point becomes more and more difficult.
That’s where Enterprise Resource Planning tools (ERPs) come in.
But with so many ERP solutions on the market, why does NetSuite stand out from the rest?
Continue reading to find out.
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Why Should I Implement An ERP?
If you’re a small business wondering why you should upgrade your system to a cloud solution, then look no further.
We’ve written in length about the benefits of Digital Transformation for your business, but for those still utilizing basic accounting software and spreadsheets here are a few reasons why you should make the switch:
- Complete visibility over your business processes.
- Easily consolidate your financial data into one single source of truth.
- Streamline accounting, CRM, and eCommerce capabilities all within one system.
- Easily share data between all departments.
- And more.
Why Choose Oracle NetSuite For My Wholesale Business?
1. Industry Leading Financial Management
In a previous piece, we wrote about the ways wholesalers could compete against Direct-To-Consumer (D2C) businesses. We highlighted the importance of building a strong E-Commerce experience, Omnichannel selling, and proper Inventory Management.
At the core of each of those elements is proper financial management.
Netsuite’s vertical-specific, out-of-the-box, functionality allows distribution companies to stay competitive and build their business beyond those without.
You gain industry-leading financial management software that will help you accelerate order-to-cash processes and improve productivity from anywhere.
2. Manage Your Supply Chain Portals
Your wholesale distribution company needs to integrate all of its key business systems if it is to succeed in an omnichannel era.
Distributors who have integrated their supply chain, customer relationship management (CRM), retail channels, inventories, and other procedures will have an advantage.
The majority of businesses still experience problems with disconnected data silos that don't communicate information and can't transfer orders seamlessly from one location to another.
A completely integrated, omnichannel product suite that smoothly combines all of your business activities is necessary for your wholesale distribution company. NetSuite is essential to your wholesale distribution operation.
With NetSuite, you have access to a single platform to manage all aspects of your company. Your business data is connected throughout. With NetSuite, you can increase productivity and boost your bottom line while satisfying the needs of customers in the twenty-first century.
3. Demand Planning & Supply Management by GURUS
The subject of supply and demand is the most important for a business owner using inventories to comprehend. You must be able to deliver things to customers effectively and efficiently if you want to earn their trust. Dependability is crucial for the customer's journey, regardless of where a company is in its expansion or growth.
We’ve already written about top Demand Planning tips, but did you know that GURUS offers a unique Demand Planning & Supply Management solution for the NetSuite user?
Our NetSuite solution for Demand Planning and Supply Chain Management allows businesses to get incredible insight into their day-to-day operations and streamline their inventory across their multi-location setup.
Contact a Demand Planning specialist today to get started.
How To Maximize Your ERP Investment
Whether you’re currently using NetSuite or looking for ERP options, getting the most out of your money is crucial.
Here are a few ways you can maximize your ERP solution to get the most out of your investment.
Do More With Dashboards
A complete picture of the Key Performance Indicators (KPIs) you and your teams have built within the ERP platform can be found on your NetSuite dashboard, which is actually the home page itself.
In addition to providing a basic picture of your role inside the company, it provides a glimpse of trends, reports you're working on and their status.
NetSuite Dashboards enable users to easily access the data they use and need most, making them one of the most crucial components of the Oracle NetSuite ERP platform.
Due to their easy-to-view metrics and objectives, these dashboards, when configured properly, may be tailored for each team or organizational member, enabling them to work productively and sustain motivation.
You can explore this guide which outlines the many components of the dashboard and explains how to use and publish them for best practices within your company.
Seamless Integrations With Boomi
The best approach to relay information from all departments, employees, and systems into a single source of truth is to integrate your business systems within your organization.
Boomi is a master of its trade when it comes to integrations.
Boomi is an integration platform that provides companies with automated connectivity. Boomi can be used with NetSuite ERP to link programs and platforms like Salesforce, Shopify, and HubSpot and provide you and your teams with a single source of truth.
Looking to read more about the benefits of integrating, and which integrations would benefit you most? Check out our previous blog about the 9 best Boomi integrations here.
Business Intelligence For Oracle NetSuite
Although NetSuite is the perfect tool for data capture, what good is collecting that data without an efficient way of reporting on it?
To make the most of your NetSuite instance, we at GURUS recommend using business intelligence (BI).
In our experience, we've seen how crucial it is for companies to visualize all of their NetSuite ERP data as well as the fact that these companies had sophisticated external reporting systems.
We created GURUS BI because, at the time, there weren't any solutions available that made it possible to cost-effectively connect your external data with NetSuite.
When you import data into NetSuite using business intelligence, it will display and update immediately via an embedded dashboard within your NetSuite account.
Already a NetSuite user exploring BI options? Explore the free BI templates included with our solution here.