NetSuite is a powerful cloud-based ERP platform used by over 40,000 businesses worldwide. Its popularity is no mystery: the company has designed the software to include both best industry practices and customizability. At the same time, its financial management system is highly praised and has even won several awards.
While there are many more benefits that could be added to a list, we’ve narrowed it down for you so you can get a good idea of what the #1 cloud-based ERP system is about. Here are the top 10 NetSuite benefits:
- One solution for your entire business: NetSuite ERP offers one solution for your entire business. This saves you time and energy (having to switch between multiple software) as well as money. Having one integrated system also means information seamlessly moves throughout your entire company, and employees don’t have to manually input data every time information is sent to a different department.
- Better decision-making: With NetSuite’s real-time dashboards, business managers and executives have better decision-making capabilities. These dashboards are easily customizable so different individuals can see the statistics most relevant to them. Finally, since NetSuite pools data across the entire company (in contrast to separate software, which create silos of data), the insights generated are much more powerful.
- Low barrier to entry: Because NetSuite is a cloud ERP software, it has a much lower barrier to entry compared to alternative ERP systems. Small and medium sized enterprises don’t have to have spend huge amounts on infrastructure and IT staff, and even larger enterprises get the benefits of quick deployment.
- Scalability: Fourth, NetSuite is scalable, growing with your business. As you grow horizontally, you just need to add additional users onto your subscription, in contrast to having to manage a large infrastructure change at the same time. As you grow vertically into new operations, you can add additional modules into your ERP system. Finally, as we point out below, if your company decides to go global, the software can grow in that manner as well.
- Anytime anywhere access: NetSuite operates over the internet, and can be accessed anywhere through a web browser (or NetSuite’s app). This means it can be used 24/7, whether your employees are at the office, at home, or even out on a business trip.
- Multinational, multilingual, multicurrency, multisubsidiary: NetSuite supports the ability of companies to be multinational (rather than having two on-site ERP systems for separate countries). It also supports multiple languages and multiple currencies, making multinational entities much more feasible within your ERP system. Finally, if a business has multiple subsidaries under one roof, the software accommodates that too.
- Customizable: NetSuite has different platforms for different industry sizes and different verticals. Nevertheless, the software is even further customizable: developers can create SuiteApps by using SuiteFlex developer tools. This way, if your company has unique requirements or needs a special feature, a partner can assist you.
- Biyearly upgrades: NetSuite has two large upgrades every year, and also has more frequent updates. This means your software will be up to date with the latest features and will also be fully secure.
- Secure: While security of cloud apps has long been a controversial subject, NetSuite has created a highly secure platform. The company has the resources to continue investing in keeping data safe, and will continue doing so since it’s such an important aspect of ERP systems. One advantage of this setup is that it allows businesses to spend less on IT and dedicate more resources to their business itself (though, of course, the organization still has to have their own security measures).
- Reliable: With 99.99% uptime, NetSuite is extremely reliable. Through load balancing, the company minimizes downtime for upgrades. The company also keeps this information publicly available around the clock at status.netsuite.com.
As we said before, this list is not exhaustive, but hopefully you have a better understanding of what NetSuite can offer your business. At Bista Solutions, we have years of experience implementing NetSuite, and have served customers across verticals such as manufacturing, services, retail, telecom, health care, and more. If you’re interested in implementing business software or have any questions, send us a message. We’ll get back to you as soon as we can.