NetSuite: What Businesses Should Know

Looking for a more efficient way to manage your business operations? Try NetSuite ERP supercharged with docAlpha by Artsyl.

NetSuite: What Businesses Should Know

In today's fast-paced digital age, businesses of all sizes and industries must embrace technology to stay competitive. For many companies, investing in Netsuite business software is critical to achieving success.

But why is it so important? What benefits does Netsuite offer, and what risks do businesses run if they don't take advantage of this tool? In this blog post, we'll explore the answers to these questions. This article also explains why your company can't afford to go without Netsuite ERP business software.

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Ready to streamline your business processes?

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What is Netsuite?

NetSuite is a cloud-based enterprise resource planning (ERP) software that helps businesses manage their operations and finances. The software provides a suite of applications that includes financial management, accounting, inventory management, order management, CRM, e-commerce, and more.

NetSuite is designed to be a single integrated solution that can manage a company's entire business process, from order management to financial reporting. The software is cloud-based, which means that it is accessible from anywhere, at any time, and can be customized to meet the specific needs of a business.

NetSuite is often used by small and medium-sized businesses as well as larger enterprises that need to manage complex business processes. NetSuite software is designed to be scalable, so it can grow with a business as its needs evolve.

NetSuite ERP is a powerful business management tool that can help businesses automate and streamline their operations, improve efficiency, and gain greater visibility into their financials and other important data.

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History of Netsuite

NetSuite was founded in 1998 by Evan Goldberg, a software engineer who previously worked at Oracle Corporation. Initially, the company focused on developing web-based accounting software for small businesses. However, over time, NetSuite expanded its offerings to include a full suite of ERP and CRM software.

In 2002, NetSuite went public with an initial public offering (IPO) on the New York Stock Exchange (NYSE). The company continued to grow rapidly, and in 2016, it was acquired by Oracle Corporation for $9.3 billion.

Today, NetSuite is a cloud-based business management software thousands of businesses use worldwide. NetSuite software is designed to help businesses manage their financials, operations, and customer relationships all in one place. NetSuite software has won numerous awards for its innovative design, ease of use, and powerful capabilities.

Throughout NetSuite's history, innovation and growth have been driven by a commitment to helping businesses of all sizes succeed in today's fast-paced and ever-changing business climate.

Netsuite Businesses Benefits

NetSuite provides a wide range of benefits for businesses of all sizes and industries. Here are some of the key benefits of using NetSuite software solutions:

  • Streamlined operations: NetSuite can help businesses streamline their operations by providing a single platform to manage all business processes, including accounting, inventory management, order management, CRM, and more.
  • Improved visibility: NetSuite provides real-time insights into business performance, allowing businesses to make informed decisions based on accurate data.
  • Enhanced collaboration: NetSuite cloud-based platform enables teams to collaborate more effectively by providing a central communication and project management platform.
  • Increased efficiency: NetSuite software automates many time-consuming tasks and processes, allowing employees to focus on more important tasks.
  • Scalability: NetSuite platform can grow with a business as its needs evolve.
  • Better customer experience: NetSuite CRM capabilities help businesses provide better customer experiences by providing a complete view of customer interactions and history.
  • Reduced IT costs: NetSuite cloud-based platform eliminates the need for businesses to invest in expensive IT infrastructure, reducing costs and improving flexibility.

As you can see, NetSuite software provides businesses with a powerful platform to manage all aspects of their operations, improve efficiency, and gain greater visibility into their financials and other important data.

What Are the Main Netsuite Cloud-Based Software Solutions?

NetSuite provides a suite of cloud-based software solutions that are designed to help businesses manage their operations, financials, and customer relationships. Here are the main NetSuite software solutions:

NetSuite ERP

What Are the Main Netsuite Cloud-Based Software Solutions?

NetSuite ERP is a cloud-based enterprise resource planning (ERP) software that provides businesses with a complete suite of applications to manage their financials, inventory, supply chain, and other key business operations.

NetSuite CRM

NetSuite CRM is a cloud-based customer relationship management (CRM) software that provides businesses with a complete view of their customers' interactions and history, enabling them to provide better customer experiences and drive sales.

NetSuite SuiteCommerce

NetSuite SuiteCommerce is a cloud-based e-commerce platform that provides businesses with an integrated solution to manage their online storefronts, order management, inventory, and other e-commerce operations.

NetSuite OneWorld

NetSuite OneWorld is a cloud-based ERP software that is designed for multinational businesses. It provides businesses with a complete suite of applications to manage their operations across multiple subsidiaries, business units, and countries.

NetSuite OpenAir

NetSuite OpenAir is a cloud-based professional services automation (PSA) software that provides businesses with a complete solution to manage their project management, resource management, time and expense tracking, and billing.

With NetSuite, businesses can manage their operations, finances, and customer relationships from one place through a suite of cloud-based software solutions.

How NetSuite Integrates with Artsyl Solutions

Oracle NetSuite integrates seamlessly with Artsyl’s Document Process Automation, enabling customers to automate data entry and document processing.

How NetSuite Integrates with Artsyl Solutions

Using Intelligent Document Capture technology and other digital transformation technologies — business process automation (BPA), robotic process automation (RPA), AI, and Machine Learning — NetSuite users can streamline semi-structured and unstructured documents processing, automating content-dependent activities like vendor invoicing and order processing.

Artsyl's intelligent document capture can process data from various document types, including invoices, purchase orders, and shipping documents. This data can then be automatically extracted and imported into NetSuite.

What’s even better, Artsyl’s vendor invoice processing InvoiceAction and customer sales order processing OrderAction are already built into the Document Process Automation platform. Order and invoice workflow automation enables businesses to streamline processes and reduce manual tasks. All transaction entries appear in the NetSuite Cloud ERP system, making document-based processes truly automated.

As a result of this integration, NetSuite users get powerful data extraction and workflow automation capabilities, helping them streamline their business processes, improve efficiency, and reduce costs significantly.

How Netsuite Integrates with Other Business Software Solutions

NetSuite has an open API and a wide range of integration options, making it easy for businesses to integrate with other software solutions. Here are some of the ways that NetSuite integrates with other software solutions:

  • Third-Party Integrations: NetSuite has partnerships with a large number of third-party software providers, which allows businesses to integrate with a wide range of applications, such as CRM, e-commerce, marketing automation, and more.
  • Custom Integrations: NetSuite provides businesses with a flexible API that enables them to build custom integrations with their own software applications. This allows businesses to create custom workflows and automate processes across multiple systems.
  • Built-in Integrations: NetSuite includes built-in integrations with other Oracle products, such as Oracle Sales Cloud and Oracle E-Business Suite. This allows businesses to integrate their NetSuite software with other Oracle products to create a more comprehensive solution.
  • SuiteCloud: NetSuite's SuiteCloud platform provides businesses with a range of tools to build and deploy custom applications that can integrate with NetSuite. This allows businesses to build custom solutions that meet their specific needs.

Ultimately, NetSuite offers businesses a range of integration options that allow them to connect their NetSuite software with other business software solutions, providing a more comprehensive and streamlined solution for managing their operations, financials, and customer relationships.

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Who Are Typical NetSuite Users?

NetSuite is used by businesses of all sizes and across a wide range of industries. Here are some typical NetSuite users:

Small and Medium-sized Businesses

NetSuite is an affordable and scalable solution that is ideal for small and medium-sized businesses that need to manage their operations, financials, and customer relationships in a single platform.

Mid-sized to Large Enterprises

NetSuite OneWorld is designed for mid-sized to large enterprises that need to manage their operations across multiple subsidiaries, business units, and countries.

Retail and E-commerce

NetSuite SuiteCommerce is a cloud-based e-commerce platform that is designed for businesses in the retail and e-commerce industries.

Professional Services

NetSuite OpenAir is a professional services automation (PSA) software that is designed for businesses in the professional services industry, such as consulting firms, accounting firms, and law firms.

Manufacturing

NetSuite provides manufacturing businesses with a range of features to manage their production processes, supply chain, inventory, and more.

With NetSuite, businesses of all sizes and industries can tailor the solution to meet their needs. With it, businesses can manage their operations, financials, and customer relationships from a single location.

Pros and Cons of NetSuite

NetSuite is a cloud-based enterprise resource planning (ERP) software solution that provides a suite of tools to manage financials, customer relationship management, e-commerce, inventory management, and more. Here are some pros and cons of using NetSuite:

Pros and Cons of NetSuite

Pros:

  • Cloud-based: NetSuite is a cloud-based software solution, which means that users can access it from anywhere with an internet connection, making it easy to manage operations on the go.
  • Comprehensive functionality: NetSuite offers a wide range of functionality, including financial management, order management, inventory management, supply chain management, and customer relationship management, among others. This makes it a useful all-in-one solution for businesses that want to consolidate their operations.
  • Customizable: NetSuite is highly customizable, with a wide range of options for tailoring the software to meet the specific needs of a business.
  • Integration: NetSuite integrates with a wide range of third-party applications and services, allowing users to extend its functionality even further.
  • Scalability: NetSuite is a scalable solution that can grow with a business, making it suitable for businesses of all sizes.

Cons:

  • Cost: NetSuite can be expensive, particularly for smaller businesses that may not need all of its functionality.
  • Complexity: NetSuite is a complex software solution, and it can take time to learn how to use it effectively. This may require additional training and support, which can add to the software's cost.
  • Implementation: Implementing NetSuite can be a lengthy process, and it may require significant resources from a business to get it up and running.
  • Support: Some users have reported issues with NetSuite's customer support, particularly when it comes to resolving complex issues.
  • Limited customization: While NetSuite is highly customizable, some users have reported that it can be difficult to customize certain aspects of the software. This may limit its flexibility for some businesses.

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and workflow automation.
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Typical NetSuite Use Cases

First and foremost, NetSuite is a comprehensive cloud-based ERP software solution that can be used by businesses of all sizes and industries. Some typical use cases of NetSuite include:

Financial management

NetSuite financial management module is a popular use case for businesses looking to manage their finances more streamlined and efficient. It includes features such as general ledger, accounts payable, accounts receivable, and financial reporting.

E-commerce

NetSuite offers an e-commerce module that enables businesses to manage their online sales channels, including websites, marketplaces, and social media platforms. This module includes features such as inventory management, order management, and payment processing.

Inventory management

NetSuite's inventory management module is ideal for businesses looking to track and manage their inventory across multiple locations. It includes features such as stock control, order fulfillment, and replenishment planning.

Manufacturing

NetSuite manufacturing module is designed for businesses involved in manufacturing and production. It includes features such as bill of materials, work order management, and production scheduling.

Customer relationship management

NetSuite CRM module is a popular use case for businesses looking to manage their customer relationships more effectively. It includes features such as contact management, lead tracking, and sales forecasting.

Supply chain management

NetSuite supply chain management module is ideal for businesses looking to streamline their supply chain operations. It includes features such as vendor management, purchase order management, and demand planning.

Supply chain management

Project management

NetSuite project management module is ideal for businesses looking to manage their projects more effectively. It includes features such as project tracking, time and expense management, and resource allocation.

As you can see, NetSuite can be used for a wide range of business processes and functions, making it a popular choice for businesses looking for an all-in-one ERP solution. Let’s take a look at this module in more detail.

What is NetSuite ERP?

NetSuite ERP (Enterprise Resource Planning) is a cloud-based business management software solution that provides businesses with a suite of applications to manage their financials, inventory, supply chain, and other key business operations. It is designed to help businesses streamline operations and improve efficiency and productivity.

NetSuite ERP provides businesses with a range of features, including:

  • Financial management: NetSuite ERP provides businesses with a complete set of financial management tools to manage their financials, including general ledger, accounts payable and receivable, billing, and more.
  • Inventory management: NetSuite ERP provides businesses with a range of tools to manage their inventory, including inventory tracking, replenishment, and forecasting.
  • Order management: NetSuite ERP provides businesses with a complete order management system to manage their sales orders, purchase orders, and fulfillment processes.
  • Procurement: NetSuite ERP provides businesses with a procurement module to manage their purchasing processes, including requisitions, purchase orders, and approvals.
  • Manufacturing: NetSuite ERP provides manufacturing businesses with a range of features to manage their production processes, supply chain, inventory, and more.

Business operations such as financials, inventory, shipping, and supply chain can be managed through NetSuite ERP's comprehensive suite of applications. By streamlining operations and providing the tools needed to make informed decisions, NetSuite ERP helps businesses improve their efficiency and productivity.

Getting Started with NetSuite

Getting started with NetSuite involves several steps to ensure that the implementation process goes smoothly. Here are the key steps to getting started with NetSuite:

  • Identify your business requirements: Start by identifying your business requirements and what you need from an ERP solution. This will help you determine which NetSuite modules you need and how to configure the software to meet your specific business needs.
  • Choose a NetSuite implementation partner: NetSuite is a complex software solution, and implementing it requires expertise and experience. Consider working with a NetSuite implementation partner to ensure a successful implementation.
  • Configure NetSuite software: Once you have identified your business requirements and chosen an implementation partner, the next step is to configure the software. This involves setting up users, roles, permissions, and other settings to ensure that the software works as intended.
  • Migrate data to NetSuite: If you are migrating from another software solution, you will need to migrate your data to NetSuite. This involves cleaning and formatting the data and then importing it into NetSuite.
  • Train NetSuite users: NetSuite is a complex software solution, and users will need the training to use it effectively. Consider providing training sessions for your employees to ensure they are comfortable using the software.
  • Go live: Once the software is configured, data is migrated, and users are trained, it's time to go live. This involves switching over to NetSuite as your primary ERP solution and starting to use it for your day-to-day operations.
  • Ongoing support: Finally, consider working with a NetSuite support partner to ensure ongoing support and maintenance of the software. This will help you keep the software up to date and address any issues that arise over time.

Successful implementation of NetSuite requires careful planning, configuration, and training. It is important to work with a NetSuite implementation partner and support provider who has experience with NetSuite implementation and support.

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NetSuite Training and Support

NetSuite offers a variety of training and support options for its users. Here are some of the ways you can access training and support for NetSuite:

  • NetSuite Help Center is an online resource that offers a variety of articles, user guides, and videos to help users learn how to use the software.
  • NetSuite SuiteAnswers is an online database of articles and documentation that provides answers to frequently asked questions and other technical issues.
  • NetSuite SuiteTraining is a series of online courses designed to help users learn how to use NetSuite. The courses cover a variety of topics, including financials, e-commerce, and inventory management.
  • NetSuite User Groups are local or virtual communities of NetSuite users who share best practices, tips, and ideas for using the software effectively.
  • NetSuite Support Services: NetSuite offers a range of support services, including phone and email support, as well as online chat with a support representative.
  • NetSuite Professional Services team offers consulting, customization, and implementation services to help businesses get the most out of the software.

As you can see, NetSuite offers a range of training and support options to help users learn how to use the software and address any issues that arise.

FAQ

How to export all NetSuite data?

Exporting all NetSuite data can be a complex process, as it involves exporting data from multiple modules within the software. Here are the general steps you can follow to export all NetSuite data:

Start by identifying which data you need to export. This may include data from modules such as financials, customer relationship management, e-commerce, inventory management, and supply chain management.

Once you have identified the data you need to export, you will need to export it from each module within NetSuite. This can usually be done using NetSuite's SuiteAnalytics or SuiteScript features, which allow you to extract data in a variety of formats, including CSV, Excel, and XML.

Once you have exported NetSuite data, you will need to organize it in a way that makes sense for your needs. This may involve combining data from different modules or filtering the data to exclude irrelevant information.

Before using the exported data, it's important to verify that it is accurate and complete. This may involve cross-referencing the exported data with data from other sources or conducting quality assurance checks to ensure data integrity. Once you have verified the data, you will need to store it in a format that is accessible and usable for your needs. This may involve importing the data into another software solution or storing it in a database.

How much does NetSuite cost?

How much does NetSuite cost?

NetSuite pricing varies depending on the modules and features you need. Generally, pricing starts at $999 per month and increases depending on the size of your business and the complexity of your needs.

Can NetSuite be customized?

Yes, NetSuite can be customized to meet your specific business needs. This may involve configuring existing modules, developing custom modules, or integrating with other software solutions.

Is NetSuite scalable?

Yes, NetSuite is scalable and can grow with your business. The software is designed to support businesses of all sizes, from small startups to large enterprises.

Is NetSuite cloud-based?

Yes, NetSuite is a cloud-based software solution that can be accessed from anywhere with an internet connection.

Does NetSuite offer mobile access?

Yes, NetSuite offers mobile access through its SuiteMobile app, which allows users to access the software from their mobile devices.

How long does it take to implement NetSuite?

The implementation timeline for NetSuite varies depending on the complexity of your needs. Generally, implementation can take anywhere from a few weeks to several months.

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