If you’re a fast-growing company, you’ve probably had to make the decision to select financial and accounting software that’s right for you. Perhaps you’re a startup looking for the first time at systems, or a company unhappy with or outgrowing its current software. Whatever the cause, you will have to go through the software selection process at some point. As a result, you need have a basic understanding of the various possibilities accessible in order to select the ideal one for your company.
In this article, we’ll look at NetSuite ERP, the world’s most popular cloud-based ERP system. Your company needs financial management systems that are flexible, rapid, and responsive in today’s dynamically changing world. NetSuite ERP is a software that we suggest to all of our clients and partners because it meets the demands of businesses of all sizes and sorts, from small to large. According to studies, companies who use NetSuite reap the following benefits:
The Top 5 Advantages of Using NetSuite ERP:
1. NetSuite ERP is integrated to support all of your company’s other functions.
NetSuite’s comprehensive approach comprises a whole portfolio of solutions that are built individually for each company. NetSuite has it all in one unified suite, from CRM and eCommerce integration to Inventory and Advanced Warehouse Management, Services Resource Planning, Human Resources, and Professional Services Automation.
Organizations may use NetSuite ERP to control expenses, enhance accounting efficiency, expedite order management and procurement procedures, reduce manual reporting, and boost overall productivity. The use of a single system across a company increases financial reporting and closure times, employee productivity, and integrates complexity, resulting in more proactive decision-making across the firm.
You no longer have to worry about sourcing, deploying, and maintaining various application systems and their connectors by connecting NetSuite ERP with all other operational options. This time and money saved over time can be reinvested in your company to improve its operations even further.
2. NetSuite ERP Gives You Real-Time Visibility So You Can Make Quick, Informed Decisions
Data is aggregated from all departments on NetSuite dashboards, allowing executives and staff to spend less time gathering information and more time analyzing and acting on it. The dashboard offers fully configurable reports, graphs, and snapshots that allow you to drill down into the data for more specifics and information. At any time and from any location, you have access to key performance indicators (KPIs), such as sales forecasts, orders, support cases, accounts receivable, goods to ship, and more. This enables you to make more timely business decisions and maintain a competitive advantage by making faster business decisions.
3. Workflow Automation in NetSuite ERP Standardizes Processes
NetSuite ERP helps to ensure that each client engagement is managed and executed consistently by standardizing processes and automating occurrences. Workflow automation can assist a corporation in being proactive in customer management by detecting issues early and recommending solutions. Order management, fulfillment, invoicing, cash collection, spending approvals, and financial aggregation (to name a few) may all be automated, allowing you to avoid new employees and redeploy staff to higher-value tasks that will help your company innovate and develop.
4. NetSuite ERP Expands to Help Growing Businesses
Users and modules may be quickly and simply added to NetSuite ERP without the need for any additional software to be installed. When using traditional on-premises software, firms must purchase the maximum number of user licenses that they may require at any given time in order to avoid overspending. On the other hand, NetSuite offers the flexibility of increasing or decreasing the number of users as needed during peak periods. As a result, you will save even more time and money by not requiring the services of consultants or IT unless new configurations or revisions are required.
5. NetSuite ERP Offers a Platform for Better Collaboration
NetSuite ERP provides a framework for collaboration around projects, financials, and core tasks for high-functioning service organizations. Constant communication with clients and associates can improve service delivery by ensuring that expectations are met, and you can ensure that clients have access to essential information and are continually satisfied by deploying NetSuite’s customer center.