NetSuite ERP for SMBs in 2024 – An Overview and Introduction

What Is NetSuite?

In today’s competitive business environment, NetSuite technology has taken business management to new heights. As a comprehensive platform, it helps in a variety of aspects, integrating several functions of business within a single system.

Whether focusing on customer relationship management or dealing with the financial aspects, NetSuite business management software does it all. Furthermore, it also provides real-time insights as well as boost efficiency.

In this NetSuite overview, we will assist you in understanding the ways to transform business operations. Hence, by understanding NetSuite’s capabilities, you can excel in your business in the age of digitalization.

What is NetSuite ERP?

From procurement and orders to inventory and finance, the NetSuite technology ERP features are for every aspect of business. Furthermore, you can also incorporate omnichannel commerce, besides PSA, CRM, and HR.

The strength of the system lies in its seamless data sharing, unified database, and enabling real-time updates throughout the departments. NetSuite functions use a centralized approach, ensuring authorized users have access to current data, despite of their location or role.

Furthermore, a single platform can consolidate diverse functions of business. With the help of NetSuite business management software ultimately drives organizational growth and agility. Furthermore, it is also essential in promoting cross-functional collaboration, enhancing efficiency, and improving decision-making.

What is Oracle NetSuite & How Does It Work?

NetSuite business management software was launched initially as NetLedger, by Evan Goldberg in 1998. Its goal was to simplify medium and small-sized enterprises through cloud-based services.

The initial offering of the company focused on online financial management. However, soon the scope of NetSuite technology broadened swiftly. When NetSuite rebranded, the firm developed a wide range of tools for business.

This change aligned with the vision of Goldberg, streamlining complicated processes of business via web-based and accessible software. In the year 2002, Oracle Corporation acquired NetSuite renaming it Oracle NetSuite ERP, adding additional expertise and resources.

To this day, this change has helped them in continuous development and growth. Thus, as a leading ERP system, Oracle NetSuite features throughout the world. Hence, it caters to the diverse range of industries and businesses that are present globally.

What is the Cost of Oracle NetSuite?

One of the core aspects to consider for NetSuite technology is its pricing. You have to understand its structure of pricing before making informed decisions. NetSuite ERP features a subscription-based model that focuses on many aspects. These include ongoing maintenance, license costs, and implementation costs. Each of them is mentioned below:

• License Costs

Oracle NetSuite features license costs, the price for using the software of NetSuite. This varies based on the level of required customization, the number of users, and the modules required.

• Implementation Costs

For the companies to become a part of the NetSuite experience, they would require training, customization, and data migration. Typically, consultants or partners offer these NetSuite services at an additional price.

• Ongoing Maintenance

The subscription fee of NetSuite is based on a subscription model that charges a recurring subscription fee. There are a variety of factors involved in NetSuite for small business subscription prices. These include the complexity of your configuration and the number of users available.

The reason for varying prices of NetSuite Business Management Software includes the size and specific needs of your organization. To get the correct estimate according to your requirements, request a quote from either a certified partner of NetSuite or NetSuite itself.

What Types of Businesses Use NetSuite?

Thanks to NetSuite ERP Features, it has now become the leader in the industry of cloud ERP. One reason for that it addresses the requirements of diverse businesses. Whether you have companies that sell to both consumers and other businesses, an early-stage startup, or a household-name enterprise, everyone can be a part of the NetSuite experience.

Oracle NetSuite features 38,000 customers from several industries. These include wholesale distribution, digital marketing and advertising, education, accessories and footwear, apparel, campus stores, consulting, beauty and health, IT services, and other professional services.

NetSuite features many roles and departments across various roles and departments within such organizations. These include employee roles such as HR professionals, C-suite, and sales representation. Furthermore, NetSuite functions and features also support 27 languages and 190 currencies. It also offers automated tax compliance in more than 100 countries.

Key Features and Benefits of NetSuite ERP

– Key Features of NetSuite

The key NetSuite features that make it stand out among the rest is as follows:

• Financial Management

The first feature we would like to explain for NetSuite is its array of financial management tools. These include financial reporting, general ledger, and accounts payable. This shows the type of capabilities that NetSuite possesses as an ERP software. When it comes to financial processes, these help in efficient and smooth operation.

• Customer Relationship Management (CRM)

The module of CRM effectively manages customer relationship aspects of businesses. These include features such as email marketing, lead management, and tracking opportunities. In turn, these help in boosting sales and customer support. Thus, NetSuite for small businesses helps organizations to prosper with the integration of these unique features.

• eCommerce

NetSuite’s capabilities in terms of eCommerce play a crucial role regarding online presence in businesses. It is known for delivering a seamless shopping experience, real-time inventory tracking, and simplifying online store management for customers.

– Benefits of Cloud NetSuite ERP features

Netsuite ERP features include a cloud-based enterprise resource planning (ERP) system. As a platform for software, it is delivered and hosted via the Internet. You do not need to run it on your business servers or install it on your laptops.

• Cost savings

NetSuite business management software is based on a cloud-based ERP system. You do not require a software infrastructure or expensive hardware. Instead, all you need to do is pay a subscription fee to get access to the systems. The best part about it is that you do not have to pay a hefty amount in the name of the subscription fee for availing of NetSuite functions.

• Scalability

You can easily scale down or up cloud-based NetSuite ERP features. Hence, it is an ideal choice for businesses’ changing needs. This is particularly effective for businesses looking for a NetSuite overview. This is particularly true when they experience rapid growth or fluctuation in demand.

• Flexibility

You can easily access the Cloud-based ERP systems of NetSuite, regardless of where you are. All you need to have is a stable connection to the Internet. This way it is easier to work remotely and conduct business by using Oracle NetSuite ERP features. Hence, regardless of where your teammates are, you can collaborate or work together from anywhere.

• Security

According to our NetSuite overview, there are strong security measures in place in a Cloud-based ERP system. Through this NetSuite business management software, you can easily protect and secure sensitive data of business.

Why Choose NetSuite?

When it comes to the diverse needs of businesses, NetSuite ERP features include critical processes and functions. Below are some of the reasons to choose Oracle NetSuite Features and Capabilities. These are:

1- Flexible Approach

With Oracle NetSuite features and capabilities, you can adapt to the new business norms by spinning off or scaling it up. The flexibility of NetSuite allows you to perform all the tasks easily and quickly. You can seamlessly migrate to customization and configuration with every upgrade of NetSuite.

2- Commerce-Ready ERP

NetSuite business management software gives your business system a pixel-perfect, customizable, and customer-specific experience. This will help your organization to adapt to the new norms and move forward in the competition.

3- Native Business Intelligence

With the help of Native Business Intelligence and real-time analytics, You can make the most of NetSuite for small businesses. Users will get an idea of how helpful they are for business or what they should be doing. This important feature allows you to display business data within the system.

How to become a Oracle NetSuite Partner in UAE?

If you want to become a Oracle NetSuite partner in UAE, all you need to do is to head on to their website. Once you are there, then go to become a partner section. It does not matter whether you are a cloud consultant, ERP reseller, an eCommerce agency, or any accounting firm, NetSuite invites everyone to become a partner. This partner engagement program assists customers to succeed and improve their business practices.

FAQs

– What is NetSuite used for?

As a cloud-based business management software, NetSuite helps companies manage their customer relationships, operations, and finances. NetSuite business management software features include eCommerce, accounting, inventory management, and CRM. You can use NetSuite for all sizes of business, ranging from large enterprises to startups. Its purpose is to improve efficiency and streamline their processes.

– Is NetSuite easy to learn?

Learning NetSuite business management software is a tough task, particularly for those who do not have enough ideas regarding cloud-based ERP systems. However, there are certification and training programs available at NetSuite. Through it, one can develop the necessary knowledge and skills to use the software effectively. Furthermore, the customization and user-friendly interface of NetSuite make it easier for users to make use of the platform according to their specific requirements.

– Is NetSuite the same as SAP?

NetSuite and SAP are two of the most well-known ERP systems available throughout the market. These are known as baseline regarding ERP standards, and these alternatives are better known as business software. However, there are contrasts between the primary features of NetSuite versus SAP.

– Is NetSuite the same as Oracle?

Even if Oracle owns NetSuite, however, in terms of operation, it works as a separate business unit within the same organization. It was in the year 2016, that Oracle acquired NetSuite technologies and to this very day both operate independently but under a single roof. It provides its customers with cutting-edge CRM and cloud-based ERP solutions.

– How to Buy NetSuite

If you want to purchase the license of NetSuite for small businesses, then there are two options you can opt for. Either you work with NetSuite Solution Provider or directly approach NetSuite for the same. By partnering with a NetSuite Solution Provider, such as Digital Gravity, the provider acts as an intermediary between the vendor and the customer. They handle the license procurement from NetSuite on your behalf, and subsequently, they implement and manage the solution for you. This approach ensures a seamless and efficient deployment tailored to your business needs.