How NetSuite Helps Companies Grow
Modern businesses need an Enterprise Resource Planning (ERP) solution to cater to their changing scale. NetSuite is an industry-leading, cloud-based ERP platform that caters to firms of different sizes and from different industries.
As a strategic NetSuite consulting partner, we’ve witnessed firsthand how NetSuite helps firms achieve accelerated growth and organizational success.
What is NetSuite?
Founded in 1988, NetSuite is commonly referred to as the first American cloud computing company. At its inception, the company solely produced cloud-based accounting software; but over time, it grew to become an all-encompassing business management solution.
It now boasts a range of features for various business operations, including finances, sales, operations, and customer relations. It also supports and automates back-office operations, such as procurement, inventory, orders, shipping, billing, finances, and human resources.
NetSuite currently serves more than 19,000 customers in over 200 countries and territories.
Since NetSuite is purely cloud-based, all users are using the latest version at all times, which prevents interoperability problems. But more importantly, it makes the system agile and flexible enough to meet the demands of growing organizations.
Here’s how NetSuite helps organizations scale effortlessly and achieve faster growth:
NetSuite helps small and rapidly growing organizations manage all facets of their business in a single system. By unifying back-end operations and front office tasks, NetSuite is able to provide users with a 360-degree view of their business. Role-based dashboards show vital information, such as trends, forecasts, and key performance indicators (KPIs), allowing managers to make the right calls.
The intelligent cloud suite delivers key business insights at every step of the way, along with recommendations when changes or disruptions occur. Users can choose to act on those recommendations with a simple click of a button, ensuring fast responses to real-world challenges.
NetSuite in Action: Amobee is a Digital Marketing Software and Services firm that’s headquartered in California. The company has ambitious growth plans to become a multi-billion-dollar company with over 1,000 employees in 30 locations.
To achieve this, they moved away from their disparate systems and chose NetSuite OneWorld to manage operations. With total visibility, the company as able to reduce its close cycle from 10 days to just three days.
NetSuite started out as an accounting software provider and has steadily grown since then. One thing that hasn’t changed after all this time is the strong accounting and finance foundation.
NetSuite’s powerful accounting software accelerates the financial closing process through automation. Since most back-office work is carried out within the system, it allows for easy expense management and streamlined and auditable revenue management. Accountants and bookkeepers no longer have to manually fill in accounts and reconcile data because the system does so in real-time.
With better financial controls, companies are able to meet compliance needs and produce financial statements that meet a variety of local and international accounting standards, such as GAAP, AICPA, FASB, and SEC. Additionally, using NetSuite’s add-on modules, users can manage multi-currency transactions and consolidate finances in one or more currencies.
NetSuite in Action: Beautyblender disrupted the cosmetics market in 2007 with its innovative product that created an entirely new category of demand. To run global delivery and finances effectively, the company chose NetSuite. As a result, it was able to sustain its 20 percent growth rate with just 130 employees.
Easily the best part about NetSuite is the easy integrations that allow it to meet every business’s needs. While customizations and add-on modules are present within the system, NetSuite also extends its functionality by partnering with cloud-based applications.
These applications are compatible with the native NetSuite environment and are available on SuiteApps. To ensure seamless support between organizations, NetSuite works closely with third-party developers to enhance its platform’s capabilities.
These allow users from various industries and business types to use NetSuite and fashion it according to their specific needs.
NetSuite in Action: Tecnosinergia is a Mexican wholesale and distribution company that was looking for a customized solution that could manage all their back-end functions so employees could focus on the core business. The company chose NetSuite because of its third-party integrations that could automate all back-end processes and streamline e-commerce capabilities. The results have been great!
Regardless of the industry, fast-growing companies need a system that’s scalable by design. NetSuite is designed to accommodate new users and new functionalities as the company grows.
Whether your business is experiencing fast domestic growth, expanding global operations, or getting reading for an IPO, it must remain flexible enough to meet the dynamic marketplace needs.
To streamline business processes and remain flexible, NetSuite ERP is the perfect solution for firms looking to grow successfully.
Grow Your Business With NetSuite Consulting Experts
With NetSuite’s vast array of customizations, add-on modules, and third-party applications, choosing the right ones for your business can be tricky. At Ravenstone Solutions, our experts have extensive knowledge and experience working with NetSuite and its related products.
As a leading NetSuite implementation partner, we’ve helped hundreds of clients achieve their business goals with NetSuite. Our clients come from various industries, including wholesale distribution, software and tech, online commerce, financial services, consulting, and nonprofit enterprises.
To find out how NetSuite Cloud Solutions can help your business, get in touch with our representatives at 1(800) 459-7128 today.