What is NetSuite?
Businesses are changing and adapting at a faster pace than ever before. There’s no better way to stay ahead of the curve and grow your business than with Oracle NetSuite. But what is NetSuite exactly? It’s the leading integrated cloud business software suite for enterprise resource planning. It helps you manage inventory, track financials, host e-commerce stores and maintain customer relationship management systems. NetSuite was acquired by Oracle in November 2016.
NetSuite goes beyond what spreadsheets and point solutions can accomplish while reducing operating costs and enhancing productivity. Its built-in functionality allows it to support multiple applications under one platform with customizable dashboards to measure progress.
And since NetSuite is built in the cloud, all your important accounting and operational information is accessible from anywhere and on any device. NetSuite can help your business gain visibility, control and agility.
To give you a better idea if NetSuite is right for your business needs, we’ve put together an overview to answer the following:
- How does NetSuite work?
- NetSuite features and capabilities
- NetSuite frequently asked questions
How does NetSuite work?
NetSuite is the No. 1 enterprise resource planning (ERP) software solution. It gives you real-time insights into how well your business is performing so you can adjust or pivot based on changing marketing conditions.
NetSuite’s cloud-based business management platform provides you with a range of applications to run your business entirely on a single platform. You can apply this platform to a number of business modules.
For example, users have access to all business models through a single sign-in portal. Drag-and-drop tools let departments personalize dashboards with metrics, charts, graphs, reminders and shortcuts. Every module shares a common database where information from across the system updates in real time and is accessible to departments across business functions. This gives your company a 360-degree view of the business to see which departments are thriving and which need more attention.
Users can access NetSuite’s platform securely from any device with an internet connection. You can track business performance and receive alerts no matter where you are. There’s also a role-based option that gives authorized workers only information pertaining to their job.
NetSuite is a multitenant cloud solution. This means that every user runs the same version of the software and its back-end infrastructure. Users also receive automatic updated versions of the software.
Each user’s data is stored and secured separately. NetSuite’s security team provides round-the-clock monitoring to ensure the strongest operational data center security. For instance, implementing strong encryption, role-based access controls and robust password policies are just a few ways NetSuite protects its users. Additional layers of protection include multifactor end-user authentication and token-based application authentication.
NetSuite uses the software as a service, or SaaS, model. This means that your business pays a subscription fee to use the technology without having to worry about additional infrastructure or system maintenance costs. Eliminating maintenance and upgrade costs allows your company to focus on serving your customers instead of hiring additional employees to maintain the system.
NetSuite features and capabilities
There’s a reason why more than 29,000 companies in over 200 countries and territories use NetSuite. Its cloud-based service doesn’t involve the need to install hardware or require additional system maintenance costs. Plus, it gives businesses a competitive edge in today’s market.
Some of NetSuite’s capabilities include:
- Enterprise resource planning: NetSuite ERP runs all your accounting, inventory, supply chain and order management in the cloud.
- Customer relationship management: NetSuite CRM helps you manage all your prospects, customers, partners and vendors in a single, integrated system.
- Professional services automation: NetSuite OpenAir helps your company plan, track and execute projects.
- Human resources: NetSuite SuitePeople is a scalable and secure human capital management software to streamline HR processes such as onboarding, payroll, employee performance tracking and more.
- International: NetSuite OneWorld is a real-time, unified global management platform that manages multiple applications in different countries, currencies, languages and subsidiaries.
- E-commerce: NetSuite SuiteCommerce integrates every step of your web store, from point of sale and order management to marketing, merchandising, inventory, financials and support.
- Planning and budgeting: NetSuite can create and consolidate plans, worksheets and documents. Collaborate using sharing and commenting to accelerate results.
RSM is one of the largest Oracle NetSuite partners, bringing over 30 years of ERP implementation and industry knowledge to clients. We offer a wide range of NetSuite consulting services, including implementation, customization, training and support.
Our team is dedicated to helping you get the most from your NetSuite investment. Whether you’re just getting started with NetSuite or optimizing your current configuration, we’re here to help. We apply leading industry practices and a field-tested approach to meet any client need.
We’ve helped more than 1,500 clients get the most out of their NetSuite experience.