Your Guide to NetSuite
This is a quick overview on ERP, NetSuite, its modules and how Tvarana can help with your custom NetSuite requirements.
What is ERP?
ERP is the acronym for Enterprise Resource Planning and refers to the use of technology to create an automated, integrated, more streamlined business. ERP software is a business solution used to collect, store, communicate and manage data across all functions of a company. ERP systems are designed around a defined data source, or a schema, that typically has a common database. These core constructs are connected across different departments by workflows and help connect systems and the people that use them. Instead of having to deal with individual databases and disconnected spreadsheets, ERP creates a single consolidated data repository accessible to employees company-wide.
What is NetSuite?
Unifying all business processes to help companies run more efficiently and cost effectively, Netsuite is a cloud-based online platform that requires no hardware or complex setups. Licensed under the banner of Oracle Corporation, Netsuite is the #1 Cloud ERP system, successfully in use by over 40,000 businesses of every size to date. Netsuite helps organizations automate front and back office operations such as financial management, billing, inventory and warehouse management, and customer relationship management, to name a few.
Netsuite is scalable, providing cost-effective solutions for growing businesses, can be customized to any industry, and is capable of addressing the needs of every department within the organization.
Aside from selling cloud-hosted software-as-a-service (SaaS) products as an alternative to traditional on-premise ERP, Netsuite also offers online tools and a platform to developers as its USP. Netsuite applications are available through both mobile and desktop platforms.
Accessed through a subscription, Netsuite allows businesses the flexibility of a pay-as-you-go system, thereby cutting costs and allowing diversion of funds to other areas. With the entire database of a company being made available online within the Netsuite platform, this centralized system makes it easy for anyone in the organization to access data and records.
Below are just a few of the many modules that NetSuite offers as part of their end-to-end business solution:
- Enterprise Resource Planning (ERP)- Netsuite ERP supports key business processes like accounting, procurement, orders, inventory, shipping and billing through its cloud platform. Netsuite ERP is built to scale with businesses as they grow and to streamline critical processes. This in turn allows them to focus their efforts towards growth, new opportunities and driving innovation. Netsuite’s built-in business intelligence combines data with visual analytics to generate actionable business insights.
- Customer Relationship Management (CRM)- Netsuite CRM provides companies with the tools to manage current and potential customers, and a better understanding of who their customer base is. With Netsuite, organizations are able to transform their customer experience, increase sales, obtain valuable insights and streamline sales processes. Netsuite CRM provides a seamless flow of information across the entire customer lifecycle from lead through to opportunity, marketing, sales order, fulfillment, renewal, upsell, cross-sell, and support.
- Case Management: Case Management is part of NetSuite CRM and is a ticketing solution that helps with routing, organizing and responding to customer inquiries or complaints that come in through email or other media channels. Cases are created automatically from emails sent from customers and from there a rep is assigned to it who can help either resolve, or further escalate the matter. NetSuite allows easy tracking of cases by customer, product, case type, and customer rep. It also has self-servicing capabilities, allowing customers to track the status on individual cases.
- Suitecommerce- Used by over 1600 online stores, Suitecommerce intends to transform the shopping experience by unifying the online and in-store buying journey. Business can access an online repository for order management, marketing information, merchandising, financials, and customer, item and inventory data. Suitecommerce supports business-to-business (b2b) and business-to-consumer (b2c) selling models on a single platform without the need for multiple fragmented systems.
- Professional Services Automation (PSA)- Netsuite PSA solutions centralizes data for the entire project lifecycle. A project starts with the creation of a sales opportunity, closing of the deal, and delivery of resources for the project. The cycle is closed when invoices are issued and cash is collected. Netsuite’s powerful OpenAir PSA platform delivers end-to-end automation in business operations for professional services companies including project management, resource optimization, project accounting, time and expense management, and billing and revenue management.
- Human Capital Management (HCM)- SuitePeople leverages the Netsuite cloud platform to streamline and automate HR and workforce management processes, by integrating these operations into the same suite that a company uses to run all of its other business functions. It provides customized workflows and reports tailored to each business. SuitePeople’s best-in-class HR system helps organizations simplify the payroll process, redefine the user experience, track time-off effortlessly, and manage employees across the globe.
- Advanced Inventory Management- NetSuite Advanced Inventory helps businesses keep track and optimize inventory levels and availability, all while keeping costs for procurement, warehousing, shipping and fulfillment low. It notifies business owners of inventory available in different locations and calculates for seasonal demand changes in inventory. (Read our blog on the NetSuite Warehouse Management System Lite module)
NetSuite vs Microsoft Dynamics:
One of NetSuite’s competitors in the cloud-based ERP market is Microsoft Dynamics. Both systems target small to medium size businesses looking to scale. Both products are relatively flexible compared to larger ERP systems. While Microsoft is relatively new to the cloud ERP game, NetSuite has been a leading multi-tenant cloud ERP provider for several years.
NetSuite vs QuickBooks::
An accounting software developed and marketed by Intuit, Quickbooks products are typically the first choice for smaller companies. Quickbooks offers on-premise as well as cloud-based accounting applications to manage payments, bills and payroll functions. However for businesses that are looking to scale, Quickbooks lacks the suite of enterprise-grade solutions that goes beyond just accounting and finance applications..
NetSuite can be the logical next step for organizations looking for an all-inclusive solution for their growing business.
Our Capabilities Include
Tvarana’s Offerings as a NetSuite Managed Services Provider
NetSuite implementations are targeted at an aggressive 90-day completion period, wherein the product is configured to your business. These timelines do not not leave much room for product customization and other enhancements. Tvarana’s end-to-end managed services offerings can help your business post-implementation.
- Our team has deep industry knowledge to help with data migration and configurations that are needed during implementation go-live
- Our comprehensive testing and audit services reduce risk of system or application failure and ensure seamless operation of your organization’s systems
- We bring to the table a dedicated team with extensive experience in NetSuite customizations
- We offer you all the bells and whistles of post-implementation support that includes enhancements and updates
- Our cost-effective, personalized service with coverage in your timezone can meet the immediate demands of your growing business
- Tvarana’s team of experts has helped hundreds of small and midsize companies across diverse industries reach their business goals
Learn more on how you can engage with Tvarana