Automating the vital business functions across all departments, including employee management, accounting, marketing, sales, and inventory helps to prevent the risks of human error and business inconsistencies. It also improves the overall productivity due to stronger collaboration between departments and access to accurate, shared data.
Before we go into detail on the ways NetSuite can help you grow, let’s find out:
What is NetSuite and How can it Support Your Business?
According to a 2016 report, NetSuite is the fastest growing financial management system in the world. Also, it is the “only pure cloud provider among the top 15”, which results in incredible revenue growth, larger than its nearest competitors.
NetSuite is the key to the automated strategy mentioned above. The cloud-based ERP (Enterprise Resource Planning) software, accessed through your browser, enables business owners to manage their key business processes in one place. The system keeps all of your corporate data in a single, secure database and allows users to track their key performance metrics on a real-time, customizable dashboard.
NetSuite unites fragmented data, automates crucial business operations, and offers a wide variety of options and customizations to support your specific business processes.
Here are just a few of the modules that NetSuite offers to streamline your business:
- Customer Relationship Management (CRM) – A business can’t grow without customers. NetSuite CRM collects, analyzes, and optimizes client information so your marketing, sales, and customer service teams can perform better.
- Professional Service Automation (PSA) – This takes care of the daily business processes such as accounting, project management, employee timesheets, and much more. This means that employees have more time to focus on core operations.
- eCommerce – Companies can easily manage their transactions, inventory, and orders online. With everything in one place, financial reports on these activities are more accurate and immediately available.
- Job Costing – NetSuite provides a one click solution for tracking the actual labor cost of each job, providing more accurate financial reporting on job profitability.
Now that we know what NetSuite is, let’s find out how it can help you grow.
1. Gain Business Stability
Think about this – how much does it cost to implement several software solutions for each critical business area? What about the time it takes to keep each one secure and up to date? With NetSuite, you get a single, yet customizable solution that updates automatically.
NetSuite is an integrated platform for CRM, ERP, PSA, and eCommerce, which links the internal and external business affairs on one platform. With one database and automated procedures, employees do not have to use different systems to re-enter data and look for new updates. The risk of any mistakes, especially financial, are diminished.
This is just the stability any business needs to gain a competitive edge and prosper.
2. Make Smarter Corporate Decisions
With real-time access to the customizable dashboard, you can track and measure your key performance metrics and use those data to make smarter business decisions. The dashboard will accurately demonstrate how effectively the business is achieving the main goals.
Not only can you evaluate the success at reaching your target audience, but you can also access unified customer records and make a personalized marketing strategy based on their preferences.
Another NetSuite advantage is that you can use it to send email campaigns. In fact, there are no limits and no third party vendor or Exchange server requirements. Likewise, you can open a free branded portal for consumers and track their payment history.
This will give a greater insight into the customer’s behavior and preferences, which you can use to improve your business offerings and exploit market potential.
3. Lower IT Costs
Organizations that choose NetSuite choose to reduce the need for expensive IT support and a high hardware budget in the future. Since NetSuite is based in the cloud, you can eliminate expensive servers and the associated cost of maintenance. And because all your departments can run on one system, you don’t need to spend time managing multiple software updates.
But the best part is that the system also takes care of the database security, including viruses, malicious software, and other cyber-attacks. So, not only will you reduce the costs of IT maintenance, but you can rest assured that your data stays out of any danger.
NetSuite is the software solution of the future and its demand continues to rise daily. An affordable investment in a smart business strategy is exactly what it takes to reach new heights and stay ahead of the competition. The benefits are obvious, especially when compared with other applications on the market. So the only question is – are you ready to implement?