As a business leader, having visibility into your key business metrics is critical for making informed decisions and steering your company towards growth. An enterprise resource planning (ERP) system can provide that visibility by unifying all your core business processes—from accounting and HR to supply chain and manufacturing—on a single cloud platform.
NetSuite ERP is one such business management suite that combines a complete ERP solution with built-in business intelligence, financial reporting, revenue recognition, global financial management, and ecommerce. Used by over 30,000 organizations worldwide, NetSuite helps streamline business operations, cut costs, and scale with ease.
In this article, we’ll explore some of the key features and benefits of NetSuite ERP.
Key Features of NetSuite ERP
Built-in Business Intelligence
NetSuite ERP comes equipped with powerful, real-time dashboards and reporting capabilities that provide visibility into the most critical aspects of your business. KPI scorecards, financial reports, and other built-in reports and metrics enable you to identify opportunities and make better decisions faster.
Moreover, NetSuite’s business intelligence functionality lets you customize reports and dashboards to align with your specific business needs. Role-based dashboards ensure managers and executives get the high-level views they need while letting other users drill down into transaction-level details.
Financial Management
NetSuite ERP centralizes accounting across all business entities and locations globally. Whether you operate as a single entity, have multiple subsidiaries and business units, or conduct business globally, NetSuite provides real-time visibility into your numbers.
Key aspects of financial management include:
• General ledger
• Accounts payable/receivable
• Expense allocation
• Multi-currency management
• Auditing tools
• Real-time reporting
• Variance analysis
The system automates reconciliation, provides real-time currency conversion, enables repeat billing/invoicing, and has built-in safeguards to prevent duplicate payments. You get robust financial controls coupled with efficiency.
Revenue Recognition
NetSuite ERP helps you automate revenue recognition management, eliminating time-consuming spreadsheet work. The system supports revenue recognition standards and requirements across different industries, geographic markets, and business models.
You can define unique revenue schedules, recognition rules, and reports tailored to your business needs. NetSuite streamlines month-end close, consolidates results globally, and provides audit-ready compliance reporting.
Inventory Management
NetSuite ERP provides complete visibility and control over your supply chain with integrated inventory and order management capabilities, including:
• Demand planning
• Procurement
• Warehouse management
• Fulfillment/shipping
• Returns/refunds
• Multi-location inventory
• Serialized inventory
• Lot tracking
• Kitting
• Bin management
The system helps optimize stock levels to meet demand, minimize carrying costs, and automate complex supply/distribution processes involving multiple facilities and channels.
Manufacturing Management
NetSuite ERP supports end-to-end manufacturing lifecycle management, from materials requirement planning (MRP) to work order execution, quality control, maintenance, and more. Key capabilities include:
• Engineering change control
• Bill of Materials
• Work order management
• Batch and process manufacturing
• Quality management
• Standard costing
• Manufacturing dashboards and reporting
The system connects production and distribution, enabling you to optimize inventory investments across outsourced, in-house, and hybrid manufacturing environments.
Omnichannel Commerce
NetSuite ERP combines with ecommerce platform capabilities to support unified commerce across all channels—brick-and-mortar, web, mobile, social, and marketplaces. The SuiteCommerce platform makes it simple to deliver a personalized self-service experience across touchpoints.
• Unified data and inventory visibility
• Order orchestration
• Customer management and segmentation
• Marketing tools
• Multi-site management
• International support
• B2B commerce
You get real-time business insights to engage and sell more effectively across channels.
Why Choose SuiteDynamics for NetSuite ERP Implementation?
As a 5-Star NetSuite partner, SuiteDynamics has the proven expertise to help you get maximum value from your NetSuite investment. Some key reasons to partner with us include:
Industry Expertise
With experience across 200+ NetSuite implementations, we understand the pain points and requirements for your industry. Our solution architects can design and customize NetSuite to your specific business needs. We help you adopt industry best practices preconfigured into the system through scripted solutions.
Our specialization in key verticals like Software, Wholesale Distribution, Retail, Manufacturing, and Services means we understand your business processes and can tailor systems accordingly.
Implementation Success
SuiteDynamics has a 99% success rate in completing NetSuite projects on-time and within budget without any surprises. Our standardized implementation methodology ensures disciplined project execution with built-in best practices for configuration, data migration, integration, testing, training, and go-live.
We help you avoid common pitfalls to realize faster ROI from your NetSuite investment.
Ongoing Support
We provide support for the entire NetSuite application lifecycle—from implementation to post go-live optimization. Our SuiteCare program delivers tiered support options to enhance your internal resources. SuiteDynamics also offers managed services to help you get maximum value from your NetSuite subscription.
From license negotiation to cloud advisory services, our team provides complete guidance to meet your unique business objectives.
Conclusion
NetSuite provides a unified business management suite to gain complete visibility and control across your enterprise on a single cloud platform. The system delivers a full range of capabilities—from financials and revenue management to omnichannel commerce—to help you make better decisions and efficiently scale operations.
As an expert NetSuite implementation partner, SuiteDynamics can help you tailor the system to your needs and unlock rapid time to value across your organization. To learn more about our services, visit www.suitedynamics.com or call us today!
