Will the benefits of NetSuite be beneficial to you?
You probably already know that ERP software helps increase productivity and simplify business processes.
You may also know that NetSuite is one of the leaders in ERP.
Unfortunately, it’s also one of the most costly.
Making the jump to ERP software is a big decision. You have numerous options and multiple angles to consider.
And sadly, ERP implementation can be a long, daunting process.
Even if your current system isn’t perfect, it’s at least familiar — and you wouldn’t want to disrupt what’s working for something worse.
Because you know if the new system isn’t helpful to the company, that’s months (maybe even years) of frustration and thousands of dollars down the drain.
Definitely not an easy choice to make.
So why NetSuite? Will it work for your company’s needs?
Read on for the most standout Netsuite benefits companies need to weigh before making the switch.
The 10 Key Benefits of NetSuite
1. It’s Designed Specifically for Your Company
How does NetSuite differentiate itself from other ERP systems?
Through its ability for customization.
After all, companies are all unique. Different processes and niches require different approaches.
Whether it’s a woodworking company looking for inventory management or a digital print business needing to manage finances and payroll, NetSuite can do it.
As a self-advertised all-in-one business management system, NetSuite can provide pretty much anything a business needs to operate.
That’s why growing companies eventually switch to NetSuite anyway.
NetSuite benefits companies by providing a wide array of modules for businesses to choose from:
You can customize NetSuite to only what you want. As a small example, some NetSuite features and benefits are:
- PayRoll: helps automate paying your employees and monitoring timesheets
- CRM: a complete CRM for your business
- Revenue Management: generates reports for audits and regulations
They have a list of many more modules to choose from depending on what you want NetSuite to do for you.
2. ERP That Scales With You
Companies wouldn’t switch to ERP if they thought the implementation would fail.
No one plans to spend thousands of dollars and devote hundreds of hours on software that doesn’t stay relevant as the business grows.
Companies want a system that will help the business: both now and 10 years from now.
That’s a headache that’s avoidable with NetSuite.
One huge benefit of NetSuite is that it scales with your business.
NetSuite doesn’t cap the number of users it can handle. It’s not dependent on location. It’s not limited by how big (or small) your company gets.
And as the modules listed above show, NetSuite can be used for practically all aspects of running a business.
So you don’t have to worry: NetSuite will be there to assist your company no matter how it looks.
3. Revamps Your Current Processes
Take a good hard look at your current business operations.
Are they working? Or do they exist simply because “it’s always been that way”?
There’s no point in keeping an inefficient process. Luckily, NetSuite benefits companies in this area extremely well.
Why NetSuite over other ERP systems? It streamlines operations by:
- Automating systems and processes. This vastly saves time, frees up your resources, and improves the customer experience
- Integrating data. Inefficiency comes from multiple systems that don’t talk to each other. This eliminates the need for manual data reconciliation and reduces delays
- Providing API resources. Resources and user guides are readily available to help developers
4. User-Friendly Interface
Is NetSuite user-friendly?
It’s definitely an important consideration: IT users don’t want to get bombarded with constant, frustrating technical issues, and new hires getting on-boarded want to learn a clean, simple system.
How does NetSuite fare in this regard?
First, compared to other ERP software, NetSuite requires less coding to get it up and running. This is a big benefit of NetSuite.
This is an often overlooked area since many companies use consultants when first implementing ERP. However, as updates happen, it’s generally up to the internal team to fix errors if they occur. It makes their job easier if coding isn’t an additional barrier to figure out.
Second, NetSuite has a simple UI layout.
This is especially helpful for employees trying to learn a new system. The more intuitive a layout is, the more likely they will be willing to adopt the new processes.
5. Simpler (And Cheaper) Onboarding
Since NetSuite is an all-in-one ERP software, your order management processes, accounting, and human resources can all run under one roof.
If you’re currently using multiple systems for these different departments, learning to use these processes is a daunting (and costly) task.
In the end, the switch to NetSuite reduces training costs and saves time: new users only need to learn NetSuite as opposed to having to learn multiple systems. Experienced users don’t have to teach multiple processes and protocols.
Getting rid of redundant systems means you’re streamlining how you operate your business.
6. Gives You a Competitive Advantage
Nowadays, companies have to shift their business strategy often to stay relevant to current trends.
With thousands of companies vying for a customer’s attention, success or failure could hinge on how quickly your company keeps up.
Don’t blindly throw things at the wall and just hope it sticks.
Instead, use NetSuite to easily access data and analytics to shape future business decisions.
Below is an example screenshot from NetSuite’s ERP system dashboard:
What if all this information was sitting in a system that other departments didn’t have access to?
Spending weeks manually importing data into a slide deck to present to the team is a huge waste of time.
By the time of the presentation, the data might not even be relevant anymore.
A benefit of NetSuite is the fact that real-time data is compiled into one system so all statistics are available to anyone who needs to know it.
This greatly helps decision-making ability.
Plus, since NetSuite is highly customizable, each company chooses what analytics is relevant — this allows you the ability to gather data for both a high-level overview or specific data points.
7. Removes the Need for On-Premises Software
NetSuite is completely cloud-based.
Why is this a NetSuite benefit?
This removes the hassle of dealing with on-site servers or hardware that requires in-person IT management.
By having cloud-based software, your IT team can be remote or reside in multiple cities or countries.
Plus, managing updates with NetSuite save time and money because:
- NetSuite system upgrades are automatic
- You’re updating one system instead of multiple systems
- You don’t have to deal with local updates in each location
For any agile business, this is a must.
8. Flexible With Integrations
Switching to ERP software means changing things that haven’t been addressed for years.
Normally, this is a good thing.
But what if you have a system you already love and don’t want to change?
That’s another benefit of NetSuite: the ability to integrate with other 3rd party platforms.
Instead of having multiple systems that stand alone from each other, you can integrate with NetSuite.
Some benefits of NetSuite integration include:
- Decreased errors from needing to manually transfer data
- Automatic data transfer, which saves time (and therefore, money)
- Data that are viewable in one place so you’re not paging through multiple systems to find what you need
- Integration that works with a variety of applications such as Quickbooks, Salesforce, Tableau, and WooCommerce
9. Ability to Pay for What You Need
Is NetSuite worth the money?
NetSuite isn’t the cheapest ERP around so most businesses want to make sure it’s worth the cost.
The benefits of NetSuite are even included in the price: you only pay for the modules you’ll use.
A business with 4 employees wouldn’t use the same system as a company of 3,000.
NetSuite provides tiered pricing, depending on the size of the company (small, mid-market, or enterprise).
As the company grows, you can add options such as maximum monthly transaction lines, file storage capacity, and the number of users, to name a few.
In order to use the NetSuite license, there is a cost of around $99/month per user. This could increase depending on any additional Netsuite features and benefits you want to add.
Don’t be alarmed though: NetSuite frequently offers discounts. If you commit to longer contracts, you can get 30-50% off their stated price.
After all, no one wants to pay more than what they need.
10. Works in Multiple Locations
The world is global.
Regulations and business practices shouldn’t be limited to simply where you live.
NetSuite knows this.
Their NetSuite OneWorld product allows your company to operate in almost any country, all on the same NetSuite ERP software.
An amazing benefit of NetSuite, OneWorld makes managing your global company easier:
- Stays compliant with each country’s tax and regulation rules
- Over 27 languages and 190 currencies are available
- Cheaper than using multiple ERP systems in different languages
- Data consolidated into real-time reports that team members can access globally
Take a Free Assessment to Find Out If These Benefits of NetSuite Are Helpful to Your Business
NetSuite knows how to help your business. It is a true all-in-one ERP and it provides tools to help you with exactly that.
It mastered how to create more efficient order management systems, automate financials, and improve e-commerce processes.
But maybe you’re still not sure if your company needs NetSuite.
We’ll help you figure that out through our FREE NetSuite Assessment.
You’ll know in just a few minutes whether it’s the right move for your business to make the switch to NetSuite.
And if it is, you can be confident that you’re making the right decision.