NetSuite ERP is a comprehensive and scalable cloud ERP solution for mid-sized and high-growth enterprises. Automates back-office and back-office processes, including financial management, capital assets, revenue management, order management, billing, and inventory management.
In this way, it provides the entire organization, from senior management to key administrators, a customizable view of KPIs and reports relevant to their role.
In this NetSuite Review, you get to know what makes NetSuite ERP an industry leader is the clever combination of financial management and integrated business intelligence that companies can use to make informed, data-driven decisions.
The platform also excels in accelerating order entry processes with a robust and well-networked order management software package in which every sales and compliance transaction is price-related.
NetSuite will also surprise you with the best product management capabilities of its kind and take full advantage of your workflow to bring products to market efficiently and on time.
Inventory management is another benefit as you can manage your inventory from start to finish and regularly update compliance data. Best of all, NetSuite ERP manages your entire input/output logistics while lowering the total cost of ownership. In the meantime, your payment search processes will also be more precise and you have optimized the value of your human capital through the built-in capabilities of HCM.
Like other NetSuite products, the compact ERP suite has a very flexible pricing system that gives each user a tailored package. It supports your growth at an affordable price and works seamlessly with all the other products in your productivity package to minimize your software investment.
Before you make a decision, you can sign up for a free product tour and take a first look at what this product can do for you.
NetSuite ERP is a cloud-based ERP platform developed by a developer and offered as Software as a Service (SaaS). In fact, it is referred to as the “most implemented ERP cloud solution in the world” because it is used by more than 40,000 companies in more than 160 countries.
NetSuite provides ERP management capabilities to meet the needs of the finance, human resources, sales, operations, and service departments. This application offers many benefits, including increasing employee productivity through the integration of cross-departmental systems and software automation. It provides real-time data transparency for smarter decisions.
With NetSuite ERP, you can reduce support costs by offloading application hosting and eliminating the cost of investing in dedicated server hardware. In addition, you can implement self-service B2B specialist portals to facilitate hassle-free collaboration between vendors and customers and to improve relationships with business partners.
Finally, the software offers a set of application development and configuration tools that provide the flexibility needed to meet the growing and specific needs of the business.
Table of Contents
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NetSuite ERP Features Overview
Netsuite Features: Detailed Overview
NetSuite consists of seven interconnected modules, each of which extracts data from a shared database. This interconnectivity provides users with the specific features of the module described below.
1. Financial Management: The Financial Management Module provides users with real-time access to live financial data and direct links between accounting and compliance management. Users can expect accelerated shutdowns, accurate reports, and real-time data with the following features:
- Accounting and Finance: This tool combines state-of-the-art accounting capabilities with real-time financial visibility and business insight to drive financial progress.
- Billing: This module allows users to integrate sales, finance, and compliance for seamless processing.
- Revenue recognition: It helps with compliance and planning.
- Financial planning and reporting: Users can integrate planning, budgeting, and forecasting, providing real-time, demand, and decision-making data.
- Global Accounting: This feature provides Near Disclosure functionality and is compatible with international standards and regulations, which speeds up closure.
- Governance, risk, and compliance: technology and automated processes address regulatory and risk issues.
2. Order management: Order management solutions improve cash flow, delivery times, reduce shipping costs and integrate with CRM. Features include:
- Pricing and Promotions: This feature manages multiple price levels, specific customer and currency prices, dollar and percent discounts, promotion codes, and gross revenue analysis at the transaction level.
- Sales Order and Return Management: The user can access a panel that displays the process of creating, approving, planning, tracking, maintaining, collecting, and processing returns.
3. Production Management module: With the Production Management module, users can manage global manufacturing operations, make the manufacturing site irrelevant, extend delivery times, and lower quality costs. Its features are:
- Product Data Management: This collaboration platform provides research, development, and design information on all computers through a self-service tool.
- Work Order Management: This feature assigns users configuration control, including automatic batch creation, full traceability, production control, and programming.
- Planning and Programming: Users can plan material purchases, plan stock items, and schedule employees, machines, and workstations to ensure fast delivery.
- Quality Assurance: Users can define quality control tests, set metrics to evaluate results, and apply results to relevant items and operations to obtain and run ongoing testing.
- MES: This is an interface based on a barcode reader with an interactive tablet application that provides information about production facilities.
4. Supply Chain Management: The supply chain management solution provides real-time visibility, increases service levels and lowers costs. These advantages fulfill the following characteristics:
- Planning: This feature provides advanced inventory management and demand planning techniques to improve delivery statistics in a timely manner.
- Implementation: A communication platform between distributors, partners, suppliers and contract manufacturers facilitates the management of a supply chain.
- Collaboration: This tool enables automatic and instant e-mail contacts, access to the partner portal of the supply chain, and integrated system communication through the web service or RESTlet APIs.
- Support: This case management system captures, routes, resizes and solves customer support issues.
5. Order Processing and Storage: The Order Processing and Storage module provides native and integrated solution options, real-time updates, and support for global enterprises. In this NetSuite review, we listed all features such as:
- Inbound and Outbound Logistics: Operable panels manage automated I / O processes, including job escalation, container management, scheduling specific shift dates and material flow monitoring, performing quality checks, and more.
- Inventory Management: This tool ensures a sufficient inventory through automated inventory tracking across multiple sites, safety stock, order points, cycle counts, demand planning, and distribution requirements.
- Warehouse Management System: This platform streamlines operations by scanning mobile RF barcodes, defining the capture and storage strategy, managing tasks, and receiving permissions back to cycle count plans, and so on.
6. Purchase Module: With the Purchase Module features, users can streamline the payment process, increase cost security, and improve quality. This includes:
- Source: With or without a work order and configured in three different ways, manufacturing can be done with automatic batching, full traceability, production control, and programming.
- Purchasing: Customizable workflows control the flow and approval of the purchase requisition.
- Payment: This graphical workflow tool can be configured to automate the receipt of ordered items, process vendor invoices, and schedule payments.
7. Human Capital Management: The Human Capital Management platform integrated into NetSuite ERP. This allows HR managers to streamline employee information, hiring, recruiting, payroll, and more. Its features include:
- Key HR Features: Effective date employee data defines native organizational design, workstation and job management, workflows, and compliance management.
- Payroll: This module is integrated into the bookkeeping and manages the taxes of different countries as well as the benefits and deductions.
- Employee Center: The accessible control panel displays the use and status of employee benefits, the visibility of the organizational hierarchy, and access to critical information.
- Analysis: The controllable panel displays the number of employees, growth trends, and the company’s sales by departments, locations, employee categories, subsidiaries, and other filters.
NetSuite Review: Pricing
The price of NetSuite is tailored to each client based on a number of elements, including the configuration of the ERP, the required additional modules, the total number of users and the duration of the contract. Your base license costs $ 999 per month and the access costs $ 99 per user per month.
The NetSuite license works as a subscription template and can be renewed annually or at longer intervals. Several predefined vertical editions of NetSuite are also available, which can be helpful in quickly identifying the package and modules that meet the customer’s needs.
For specific pricing, contact NetSuite.
NetSuite Customer Support
NetSuite offers comprehensive support, from standard ticket creation to technical support. ERP has two levels of support: Basic and Premium.
Each customer can receive basic support with every NetSuite subscription. Basic support includes:
- Access to the NetSuite Support User Group
- Presentation of cases online
- 2 authorized support contacts
- 10 hours daily online support
NetSuite Premium Support subscribers are eligible for 24/7 service for serious issues:
- Call forwarding support
- Hierarchy of severity with online answers
- 4 authorized support contacts
- Uncritical access around the clock
Fast notification of new versions
The third level of support beyond Premium is available. Premium support customers can take advantage of NetSuite’s Advanced Client Support (ACS) as a managed service that proactively streamlines their NetSuite solution.
Final Verdict: NetSuite Review 2023 (Our Opinion)
NetSuite enables a company to keep track of their business activities and allows every department of the organization to contribute or display vital data about potential customers: marketing, sales, compliance, accounting, and more.
Netsuite plays a critical role in ensuring smooth operation and growth for the company. In addition, with NetSuite marketing support, you can track all the potential customers who have arrived or the marketing campaigns in which they have participated.