What is Netsuite, and Why Do You Need It?

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Netsuite

As a business grows, running it becomes more complex. Financial numbers are more wide-ranging and take longer to reconcile. Forecasting sales figures are more of a challenge. Sustaining operation at this level takes up a lot of your time and energy that scaling up is out of the question, without the help of professionals like Wild Tech Netsuite solutions providers.   

What is Netsuite?

Netsuite is the leading online enterprise resource planning service available in today’s market. It was founded in 1999 and one of the first to introduce cloud-based software. Now, it has around 40,000 customers from a wide range of industries, all enjoying a customised software as a solution (SaaS) service. 

This modular software solution allows companies to run their core business processes efficiently by integrating the financial side to all the other aspects of the operation in one system. It enhances customer relations management (CRM) by giving a 360-degree view of your customers. Business intelligence and analytics capabilities can be enhanced by Netsuite, allowing you to generate more accurate forecasts and make better business decisions. 

With the help of a company like Wild Tech Netsuite solutions provider, you can have Materials Requirement Planning (MRP) capabilities, such as fixed asset management. They can also do wonders for your supply chain by providing a cohesive business management platform accessible from many countries in as many languages or currencies in real-time. 

Your e-commerce would also significantly benefit as Netsuite can unify all facets of your online store from end-to-end. It means that point-of-sale and order management, inventory, financials, merchandising, marketing, and support are all seamlessly combined in a single streamlined framework.

As a cloud-based software solution application, Netsuite has only one codebase managed solely by the vendor. It requires no version numbers, and whatever is currently available is the latest iteration. This feature may seem unimportant, but it has significant implications for your operation. You would not have to wait as updates or bug fixes are being made, tested, then deployed to customers. The rollout is done continuously, mostly happening in the background, as your processes remain uninterrupted. This gives you the advantage of operating in a perpetually safer environment using the latest features and technologies without investing any downtime. Note that you must pay attention to announcements whenever an update is made, as interfaces may look a bit different. Also, your companies like Wild Tech Netsuite solutions providers are always ready to help out when needed.  

What Sets Netsuite Apart from Others?

When looking for an enterprise resource planning solution, you need something modular but offers many features and functionalities. You can assess them based on four key points. First and foremost is as an ERP, its primary function. The second is as an accounting platform or general ledger. The third is as a platform for inventory management, which is essential in the production and distribution processes of manufacturing companies. Last is as a customer relationship management system. 

As an ERP, Netsuite OneWorld outperforms all the other brands, gaining the highest rating from independent resources, such as PCMag. As a general ledger app, it fared similarly to Intacct, the Editor’s Choice winner for this category. When it comes to customer relationship management, Netsuite’s solid collection of CRM features is a close second to CRM-specific platforms, such as Zoho CRM and Salesforce Sales Cloud Lightning Professional. In terms of overall functionality and performance, Netsuite comes out on top of all the leading cloud-based solutions in the market.