If you are a business owner/executive looking to move beyond accounting software to an all-inclusive solution, you are likely to come across Netsuite as one of the most well-known potential solutions for you to consider.
But, what is NetSuite exactly?
According to Gartner, NetSuite is the “Fastest Growing Top 10 Financial Management System Globally,” but really it is so much more. Netsuite is Enterprise Resource Planning (ERP) software, which includes accounting software, along with many other functions central to running your business, such as: Customer Relationship Management (CRM), inventory management, Human Resources, manufacturing, order management, payroll, and more. There are many advantages offered by an ERP system like NetSuite for high-growth companies looking to centralize data through a fully integrated solution, and minimize inefficiencies and inaccuracies due to disparate databases and manual data entry.
In other words, it’s your all-in-one command center to manage your business operations.
NetSuite is a multi-tenant cloud based ERP solution hosted by NetSuite and offered via a subscription model. Many small businesses find the “pay-as-you go” nature of NetSuite compelling as it reduces initial cash outlay for business systems and allows them to focus on their core business, not managing and maintaining software.
Since your business data is located in one database within NetSuite, this means that you have instant access to your business reporting through point and click reports and can avoid inaccuracies that result from manual processes.
NetSuite could be a good fit if…
- You are looking for instant scalability and customization as your business grows and your needs evolve.
- You operate in one of the following industries: advertising, media, publishing, financial technology, manufacturing, nonprofit, retail, service-based businesses, software/internet, wholesale distribution. NetSuite recently announced a new product for users in these industries called SuiteSuccess, which “was engineered to solve unique industry challenges that historically have limited a company’s ability to grow, scale, and adapt to change.” Within each industry offering, NetSuite has built unique micro-vertical solutions to address specific market needs.
- You are experiencing limitations with data silos with your best-of-breed approach.
- You have outgrown your current financial management software (e.g. QuickBooks, etc..) and in need of a QuickBooks alternative.
- You are using several different types of software across your business to address each department and running into inefficiencies as a result.
Now that you can confidently answer the question “What is Netsuite?” it’s time to take the next step. Schedule a conversation with one of our experts to explore how you might benefit from NetSuite at your company.