5 Reasons Why You Need to Switch to NetSuite Cloud ERP
Effective management, planning, and utilization of resources are crucial for successful business operations. In order to allocate the right resources in the right areas, businesses need a sophisticated Enterprise Resource Planning (ERP) platform that is designed to optimize and manage key business processes in a unified manner.
With advancements in technology, the evolution of ERP has given rise to Cloud ERP. Cloud ERP allows businesses to save money on hardware, in-house data centers, and dedicated maintenance teams that are otherwise required to manage the ERP system.
Cloud ERPs are particularly favourable for small businesses since they cut down on hardware installation costs and initial capital investments.
One such leading Cloud ERP system is NetSuite. With over 40,000 installations for businesses of all sizes and in various industries, NetSuite delivers a promise of integrated, intelligent and simpler applications that offer seamless communication and omnichannel capabilities.
What is NetSuite?
NetSuite offers the core functionalities of both ERP and Customer Relationship Management (CRM). However, businesses that require industry-specific functionalities can license advanced add-on modules on demand from NetSuite Implementation providers, like Ravenstone Solutions.
NetSuite consolidates all corporate data in a centralized database, giving your team access to key performance metrics on real-time, customizable dashboards. It combines ecommerce and customer-facing CRM capabilities with finance and accounting solutions, inventory management, and self-service portals for partners.
With NetSuite, users can manage their business processes from the point a consumer gets in contact with the company right through to the processes of ordering, delivering, invoices and accounting.
In a nutshell, NetSuite allows businesses to combine data from disparate systems and automate business processes from end-to-end. As web-based on-demand software, NetSuite can significantly cut down your total cost of ownership (TCO).
Organizations that invest in NetSuite Cloud ERP can enjoy the following benefits:
- Reduced IT costs
- Shortened order-to-cash cycle
- Accelerated financial close
- Reduced invoicing costs
- Reduced audit preparation time
Let’s look at how businesses of all sizes can benefit from NetSuite Cloud ERP system without stretching their budget:
1. Unified Business Processes across the Organization
NetSuite’s single, integrated platform allows you to automate key businesses functions such as, including marketing, sales, finance, service, order fulfilment, purchasing, inventory, and employee management.
It eliminates the need to re-enter data in separate systems and wait for batch updates. With NetSuite, you can not only view, but also share accurate, consistent data in real-time. This translates into greater collaboration and increased productivity across the business.
2. Provides Real-Time Visibility For Informed Decision Making
NetSuite’s role-based dashboards display information from all departments, minimizing the efforts spent on consolidating, analyzing and reporting the data.
NetSuite gives businesses complete visibility into unified customer records, allowing them personalize fulfilment, sales and service processes. Dashboards take this one step further by providing customizable reports, snapshots and graphs so that everyone from the sales rep team to the CFO can drill down information for a deeper insight.
Dashboards give you to access KPIs like orders, sales, forecasts, cases, support, items to ship, accounts receivable, and a lot more, anytime and anywhere—thereby, allowing you to make informed business decisions and sharpen your competitive edge.
3. Offers Actionable Business Intelligence
Eliminating the need for an expensive, complex data warehouse system, NetSuite provides growing and midsize companies built-in business intelligence.
Let’s take a closer look at how it delivers operational, tactical and strategic business intelligence in real-time:
As discussed earlier, NetSuite Dashboards come with Key Performance Indicators (KPIs), Trend Graphs, and Performance Scorecards, allowing employees to make smarter and faster day-to-day decisions.
Reporting — Tactical Intelligence
NetSuite features like Custom Built Reports, Standard Reports and Search-as-Analysis tools allow users to make tactical decisions on an as-needed or periodic basis.
Moreover, its wizard-driven, WYSIWIG (what you see is what you get) Report Builder allows you to create and customize reports tailored to specific business requirements.
Third Party Business Intelligence
For forward-thinking businesses and complex, industry-driven reporting needs, NetSuite lets businesses integrate a third party Business Intelligence (BI) package. This way, they can draw information from a single, consolidated data repository for rationalized analytics, and use it with greater confidence.
4. Achieve Workflow Automation
With NetSuite’s workflow automation capabilities, you can standardize company-wide processes, ensuring everything from internal business operations to customer engagement is standardized.
Automating order fulfillment, order management, invoicing, expense approvals, cash collection and financial consolidations—to name a few—allows you to minimize manual and human errors, and perform all activities with utmost accuracy and confidence.
5. Gain a competitive edge with NetSuite CRM
With NetSuite CRM, all your customer touch pints, cash-to-care and contact to contract are streamlined within a single system.
Integrating leads, sales orders, and upsell and cross-sell opportunities allows your marketing team to deliver effective programs; your sales team to deliver personalized sales; and your service team to offer excellent customer support.
Sales Force Automation (SFA)
One of NetSuite CRM’s key features is its SFA capability that empowers your sales team to manage leads from the first capture through to the close of sale.
Upon capturing new leads, you can automatically route the leads to sales representatives based on your defined territory rules. Territories are typically based on criteria like service area of interest, product, geography, or size of company.
After the sales team follows up with potential leads, they can use NetSuite to generate activity reports that serve as productivity analysis of all the interactions between sales reps and customer leads.
Managers and sales reps can also use real-time dashboards to gain better insights and properly set customer expectations.
Simply put, NetSuite’s SFA solutions give you complete visibility into all aspects of customer relationships including back-office information like inventory and contracts as well as support cases.
NetSuite ERP provides a platform for enhanced collaboration and constant communication with partners, in-house teams, clients and customers.
The best part is that NetSuite is a scalable solution that assists growing companies and allows easy addition of both users and modules without any installation.
Push Productivity To Optimal Levels With Our NetSuite Consulting Partners
We recommend NetSuite Cloud ERP to all our clients and partners because it seamlessly addresses industry-specific business challenges and fits the needs of all sizes of businesses.
Get in touch with our experts to find out how you can grow your business with NetSuite Cloud Solutions.
Contact us at 1(800) 459-7128 today for more information.