Oracle NetSuite Review

Overview

Hailed as the #1 cloud-based ERP, NetSuite is a comprehensive software that offers a suite of tools for businesses of all sizes. This scalable solution focuses on end-to-end support and can help reduce the amount of time and effort that is spent completing all day-to-day tasks. As the leading provider of business management software, Netsuite can ultimately assist with lowering operating costs, managing key financial processes, providing a full overview of customer management, and accurately executing core projects. 

Containing everything into one unified SaaS solution, NetSuite is useful for a range of businesses and is flexible enough to be tailored to both in-person and e-commerce industries. The fully integrated system houses many operations in one central location for a more streamlined approach to management. Connecting various operations and housing them in the cloud, businesses enjoy a smoother approach to management that spans various departments and allows for increased productivity both within and between teams. Robust and with a flexible pricing scheme, NetSuite continues to outshine competitors and remains one of the top choices for businesses looking to switch to a hassle-free and simplified ERP.

What Is NetSuite?

Designed for businesses of all sizes, NetSuite is an all-in-one-solution that streamlines all of the critical processes your company relies on. As the #1 ERP software on the market, NetSuite is designed to be flexible so that it can grow and change with your company year after year. Giving clear visibility and a cloud-based overview of all operations, this is the ideal software solution for companies who are looking to optimize productivity, increase engagement, and take control of critical functions. 

Beautifully developed and home to a wealth of features, NetSuite focuses on helping you to continue moving forward within your industry, growing and expanding alongside you. Removing the need for multiple systems and tools, everything is housed in the single platform which can be accessed by various departments and teams. Whether that’s accounting, CRM, HR, or IT, NetSuite opens the door so that information can be accessed anywhere in the world at any time. 

By integrating and automating many of the core functions businesses rely on, NetSuite can offer more intelligent, real-time reports that allow for faster, more efficient decision making daily. Analytics from a range of departments are easily accessible and can ultimately improve cash flow, identify issues, and increase productivity so that your company can continuously expand and thrive. Convenient, robust, and incredibly intuitive, NetSuite is an effective end-to-end software that can be perfectly tailored to each company’s needs.

Key Features

Identifying the key features of NetSuite can be difficult given how robust its functions are, but as an overall ERP there are some notable things that many businesses do find relatable. From a financial standpoint, for example, NetSuite is used by thousands of businesses worldwide to ensure compliance, expedite transactions, and view financial performance. But how exactly does NetSuite stand out from competitors and why is it consistently rated as the #1 ERP for businesses of all sizes?

Growing with you year after year, NetSuite can take the place of outdated software that no longer is able to support your budding needs. Replacing tools or methods that are too time-consuming, costly, or confusing, NetSuite enhances productivity by offering up-to-date tools that are all located on one centralized platform. Given that it is a cloud-based software, NetSuite works with you wherever you are, and is easy to access from any internet-enabled device. 

Not only does it house virtually all of your operational tools in one place, it is also completely customizable depending on your industry and personalized business needs. Clear and customizable dashboards can be edited so that they function exactly how each user prefers, and it can support multiple applications that seamlessly work together. Perfect across teams and departments, NetSuite reduces costs and enhances productivity, while also cutting down on the endless back and forth that typically occurs on a daily basis.

Another key benefit to NetSuite is that their real-time reporting is not only accurate but intuitive. Time is money and any delays can hurt a business financially, which is why up-to-date information is so vital. With NetSuite you can view data as it happens, allowing you to act quickly and make important decisions quickly and intelligently. This, along with all of the other factors, are only some of the key reasons why NetSuite continues to dominate as the top ERP on the market.

Core Products

From a financial aspect, NetSuite offers a host of benefits and uses that can lead to better decision making as well as improved financial expertise. Using real-time reporting, this single platform offers a full view of all financial operations from a consolidated level down to the individual transactions. In terms of financial management, NetSuite covers:

• Finance & Accounting
• Billing
• Revenue Recognition
• Financial Planning
• Financial Reporting
• Global Accounting & Consolidation
• GRC

Going beyond financials, NetSuite is also fully equipped to assist with customer management. Housing all of the invaluable information relating to all customers in one place, NetSuite allows you to better assist each individual and can create individual profiles quickly and easily. A great CRM tool often leads to an increase in sales, retention, and more effective communication so that you build and interact with your customers in a way that drives business repeatedly. Those who rely on NetSuite for CRM continuously find that it not only works the way it should, but that it seamlessly maintains a flow of information across the entire customer lifecycle.

Those involved in sales should find NetSuite to be exceptionally beneficial, especially when it comes to forecasting. Helping to optimize potential sales and increase opportunities, NetSuite delivers key information that can be used to capitalize on sales that can meet your predetermined targets without delay. Beyond forecasting, this robust tool also works to assist with overall management relating to ordering, production, and the general supply chain. From financing to fulfilment, marketing and distribution, NetSuite is designed to support growth in virtually all aspects of your business across all departments regardless of industry.

Who Is NetSuite Best For?

NetSuite is extremely robust which makes it adaptable for businesses of all sizes and across all industries. With that said, there are those who will find the software more beneficial than others, and in general, it is more targeted towards mid-size business and up. Start-ups and small businesses may find that NetSuite offers more than they need at the present time, however, for those who do plan to grow and scale, NetSuite may actually be the best choice. Growing alongside you, NetSuite can be there every step of the way supporting your needs and establishing that strong foundation that is necessary for later success. 

In terms of mid-size businesses and larger enterprises, NetSuite is the #1 choice for those looking to incorporate accounting, ERP, CRM, and e-commerce applications into one centralized platform. Helping to cut costs, reduce financial close times, and improve quote to cash cycle times, NetSuite is an efficient and fully integrated system that displays clear benefits right from the start.

Looking at the various industries that typically find NetSuite is the right ERP for them, everything from advertising to education can find a use for this integrative and supportive system. Designed to be both flexible and customizable, NetSuite can be set up and utilized in the exact way each industry requires, and dashboards and reporting can be tailored to meet those needs. Common industries that excel when using NetSuite include:

• Advertising & Digital Marketing Agencies
• Apparel, Footwear, & Accessories
• Campus Stores
• Consulting
• Education
• Energy
• Financial Services
• Food & Beverage
• Health & Beauty
• Healthcare
• IT Services
• Manufacturing
• Media & Publishing
• Nonprofit
• Professional Services
• Restaurants & Hospitality
• Retail
• Software & Technology Companies
• Transportation & Logistics
• Wholesale Distribution

NetSuite Cost

Since NetSuite is designed to be fully customizable and adaptable to each businesses needs, pricing for their software depends heavily on what it is you require. Beginning with a free product tour, potential customers will get the opportunity to experience all of the features for themselves before they sit down to discuss both needs and cost. Done as a subscription based plan, customers will be able to select from a variety of tiers and pricing levels, allowing you to get the tools you need at a price that fits your overall budget.

Business size, revenue, and required features will all impact the total cost, and means that smaller start-ups will have access to lower pricing that is more affordable. Midsize business and enterprises, on the other hand, will be able to enjoy a larger suite of tools that may otherwise be unnecessary to smaller business. 

Starting at $999/month for base pricing, followed by a minimum of $99/month/user, NetSuite is not the cheapest option on the market, but it is one of the most robust. For the cost, companies get access to a comprehensive software that contains end-to-end processes in one centralized location and can ultimately help save you money but reducing redundancy, eliminating costly delays, and offering intelligent, real-time information for faster and more effective decision making. Given all that it does, NetSuite packs a significant amount of value into its software, making the cost well-worth the features.

Bottom Line

Eliminating the use of multiple programs and tools and combining everything into one centralized location, NetSuite is an ideal way to stay on top of management, finances, and overall company operations. Allowing for all of that and more, NetSuite gives businesses a robust ERP that grows alongside the company for lifelong benefits and assistance and comes equipped with incredible value that you are sure to take advantage of on a daily basis. With its ease of use, accessible support, and customizable features, NetSuite is the #1 cloud ERP for start-ups to enterprises.

To learn more about NetSuite or to get started with your free product tour, you can visit their website directly. There you will be able to explore all of their features in-depth and see how NetSuite can benefit your specific company and industry. Loved by over 24,000 customers across the globe, NetSuite handles everything for you so you can simply focus on growing and thriving each day.