NetSuite ERP integrates with existing web and CRM investments, providing a cloud financial management solution that’s woven into a company’s broader business systems. Additionally, users can easily scale into NetSuite’s other solutions by adding NetSuite CRM, Ecommerce, Professional Services Automation or global business management capabilities whenever businesses find the need for those solutions. NetSuite ERP delivers specific industry editions for wholesale distributors or manufacturers with multi-site production and inventory, software companies with complicated revenue recognition requirements, professional services organizations and more.
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NetSuite ERP’s cloud delivery allows businesses to run their financial management processes without needing to sustain on-premise IT resources and infrastructure. With SAS 70 Type II, PCI DSS and US-EU Safe Harbor certifications, NetSuite delivers a high level of compliance and security.
Over 16,000 midsize and high-growth companies, as well as divisions of large enterprises, use NetSuite to run their business. NetSuite’s ERP software is also applicable to any industry type. Their customers range from insurance providers to retail restaurant chains to online retailers, demonstrating the flexibility of their solution. NetSuite’s diverse array of customers come from a variety of industries, such as financial services, media/publishing, telecom, nonprofit, manufacturing, retail, wholesale distribution and more.
Prudential, Jollibee, Guitar Center, Intuitive Surgical, Hamamatsu
NetSuite was founded in 1998 and has its headquarters in San Mateo, CA. Its nine offices span the globe, with locations in Europe, Canada, Australia and Asia. Gartner named NetSuite one of the top 10 fastest-growing financial management solutions, and they’ve received four CODiE Awards from the Software and Information Industry Association in the past two years.
Drill down to the live underlying transaction or customer record from any report or indicator. For example: drill down from days sales outstanding (DSO) measures to an aging report, and then to the underlying invoice and customer information.
NetSuite’s budgeting, planning and “what-if” financial modeling capabilities eliminate spreadsheets
Real-time, end-to-end business management solution for planning, strategy and execution
Classify variances between plans and actuals, isolate organizations and accounts responsible for variances and drill into the transactions contributing to variances
NetSuite ERP Screenshots
NetSuite ERP Videos
Flexible online dashboards
Variety of industry specific solutions
Robust enterprise-wide integrated system
Reportedly difficult to learn and use
Low customer support ratings
Customer support costs are high
The strengths in NetSuite’s ERP offering lie within its flexible online dashboards that allow a high level of customization, ensuring that your ERP system is tailored specifically for your business needs. This cloud based solution comes in a variety of industry specific solutions, which is especially helpful when building your system. Additionally, NetSuite ERP integrates with other business solutions, not just those from NetSuite.
However, all that customization, while attractive, does lend a certain difficulty-of-use to NetSuite’s ERP system. According to various reports, it’s not an easy system to learn, and it requires a great deal of training. That’s not helped by the fact that NetSuite’s customer support costs are rather high, not something that’s included in your subscription to their ERP services and which NetSuite customers often cite as a downside to the system.
Finally, the company has had something of a varied past with its customers, however. There have been a considerable number of complaints regarding bad customer service from NetSuite, as well as the high cost of customer support. In recent years, complaints have dropped off, so perhaps their support has improved; especially since they’re switching their focus away from SMBs to enterprises, which seems to be the market they’re best suited to support as the company grows.
White Papers and Demos
Managing the Multi-Company Corporation White Paper provided by NetSuite This white paper reviews the issues and the solutions for the multi-organizational enterprise to manage both its sales and financial components, including requirements for addressing differing currencies, taxation rules and local and consolidated reporting.
On-Demand ERP in the Enterprise: A Practical CIO Guide to Implementation White Paper provided by NetSuite This paper, based on the experience and best practice established by early adopters, sets out a framework for deciding on and implementing on-demand ERP within enterprises of 250 employees or more, or in divisions within a larger enterprise. The paper will examine key concerns such as data integrity in enterprise systems, maintaining compliance and ensuring proper process management, as well as discussing new skills and approaches to help maximize returns on investment.