netSuite

NetSuite ERP is an enterprise database and business management software providing a single, integrated suite of applications for managing accounting, order processing, inventory management, production, supply chain and warehouse operations. It is exclusively cloud based and operates on a SAAS subscription basis. Purchased by Oracle, NetSuite is a popular ERP with growth oriented mid-sized businesses as it is relatively easy and fast to configure, customise and use. It is supported by a healthy ecosystem of partners who develop auxiliary software to enhance functionality and integrate with other software products. Lots of businesses view it as the first step away from simpler accounting packages but it can also be viewed as a future proof solution. The advantages your team realises from an invested in NetSuite, the benefits a business sees coming from QuickBooks for example will be different to the benefits if you are coming from another ERP.

Single login and dataset

For businesses coming from QuickBooks and traditional accounting packages, the first benefit you are going to see is that with one logon you can see all data for all of your entities. This extends to being able to run consolidated reports and extract data for all entities in one click.

Automation

From purchase invoice processing to month end reporting, NetSuite and its integrated partners make it easy for businesses to automate processes. It is worth noting that automation does not come straight out of the box and will likely take some time and resource to achieve.

Consolidations

NetSuite allows you to produce consolidated financial statements and other reports through its core financials application. Developing this process which cannot be performed in all ERPs was one of the significant milestones in the software’s history.

The Suite

NetSuite includes a full suite of data-based products that can help your business to manage supply chain, operations and sales activities. These can all be easily integrated meaning it is provider that can continue to support your business as it grows.

Embarking on a NetSuite implementation or upgrading from a basic accounts package to an ERP is a time consuming and costly endeavour so reach out and talk to us about your options and what it entails.

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