ERP (Enterprise Resource Planning) software has become a must-have for growing small and mid-size companies. By connecting data from all areas of your business in a single database, ERP software simplifies processes, increases efficiency and allows you to focus on the work that drives results in your business.
NetSuite is among the leaders in cloud ERP, with over 31,000 customers worldwide, ranging from start-ups to large enterprise. And for good reason – it’s a powerful, browser-based application that comes with a ton of functionality for different industries. Which leads us to the purpose of this post – giving you a snapshot of the full scope of NetSuite’s capabilities.
NetSuite’s modular design gives you the flexibility to build out your ERP solution by adding new modules as new business challenges arise. This kind of phased approach allows you to start with the core and build out over time, so you can manage the cost and ease the transition for your team.
While some functionality – like accounts receivable, accounts payable, general ledger and cash management – will be an obvious starting point, you might be left wondering which modules you need to meet your needs now and in the future. As a starting point, you can go back to your ERP requirements and map that to the modules listed here.
But the best approach is to connect with a NetSuite partner. They’ll do a discovery session with you and your team to understand your processes and recommend the modules you need to address your needs. Then you can move into a NetSuite demo that shows how the solution helps you overcome the challenges you’re facing in your business today.
NetSuite Advanced Financials provides more robust financial management functionality. This goes beyond the standard accounting functionality in the core ERP product, which includes general ledger, cash management, accounts receivable, accounts payable, tax management and payments.
Reports and dashboards that display plan, forecast and actual data
Microsoft Office integration (Outlook, Excel, Word, PowerPoint)
NetSuite SuiteBilling expands invoice and billing management to support subscription, usage-based and hybrid billing models, while accurately recognizing revenue and adhering to revenue recognition standards.
Multiple pricing models
Recurring revenue recognition
Billing and financial reporting
NetSuite Revenue Management automates revenue scheduling, allocation and reporting to help you comply with revenue recognition regulations.
Rules and schedules
Revenue plan management
Forecasting based on revenue recognition
NetSuite Electronic Bank Payments enables you to securely automate electronic funds transfer payments and collections.
Payment (EFT) capabilities
Direct debits (DD)
Instant electronic bank payment file creation
NetSuite Multi-book Accounting helps you report financial results based on multiple accounting standards by automatically posting transaction activity to multiple books at the same time.
Multiple tax and accounting standards
NetSuite OneWorld enables companies that operate in multiple countries or with multiple subsidiaries to adjust for local currency and comply with local taxation and legal requirements.
Global accounting and consolidation
Consolidated financial statements
Indirect tax management
Audit and compliance reporting
SuiteTax eliminates manual tax calculations with built-in tax logic to determine and calculate taxes across multiple tax jurisdictions.
NetSuite Fixed Assets Management helps you manage company-owned and leased assets, with flexible depreciation and amortization schedules and detailed asset reporting.
Reporting for valuation, depreciation, expense and amortization
NetSuite Dunning Letters helps accounting teams collect accounts receivable by automatically sending reminder letters before payment.
Dunning templates and workflows
Dunning dashboard to track current dunning status of all accounts
NetSuite Contract Renewals automates the contract renewal process.
CRM (Customer Relationship Management)
NetSuite CRM aligns sales, marketing and service teams with a complete view of the customer. From managing sales quotes and orders to forecasting and much more, NetSuite CRM helps sales teams manage the complete customer lifecycle more effectively.
Sales force automation
Customer service management
Partner relationship management
Mobile access to update key data, manage activities, time, expenses and more
Role-based reporting and analytics for sales, marketing and service
Inventory and Order Management
NetSuite Advanced Inventory Management extends beyond the basic item and inventory management capabilities in the core ERP to include demand-based inventory replenishment, multi-location inventory management, serialized inventory and more. More robust inventory management capability helps more sophisticated distributors optimize inventory levels and ensure product availability.
NetSuite Demand Planning helps you optimize inventory levels by analyzing historical data and sales forecasts to create reliable purchasing recommendations. This module automates the heavy lifting of your demand planning process to reduce manual effort.
Supply chain control tower that simulates inventory supply and demand to plan purchases and production
Production planning and scheduling
NetSuite Quality Management helps you deliver the highest quality products with tools to organize testing, inspections, rework and reporting.
Receiving and in-process inspections
Mobile data collection
NetSuite WIP and Routings provides the tools to define manufacturing routings, the resources needed, and the expected time and cost required.
Work center management
Infinite capacity scheduling
Manufacturing cost templates
NetSuite Work Orders and Assemblies connects inventory to your manufacturing process, with the ability to define assembly items, build complex multi-level bill of materials (BOMs), create work orders and more – all with minimal effort.
Shop floor controls
Transfer order management
NetSuite Advanced Manufacturing is a unified solution to support manufacturing operations by connecting production processes, financial reports, inventory and outstanding orders with real-time data.
SuiteCommerce provides mobile optimized eCommerce websites that connect seamlessly with NetSuite financials, order management, inventory and CRM to create a unified solution for product-based companies. Functionality for both B2C and B2B eCommerce provides the flexibility to adapt to your needs.
Cart and checkout
eCommerce reporting and analytics
Account management and support (B2B)
Access-restricted site (B2B)
SEO and marketing (B2C)
SuiteCommerce Advanced offers more control for developers and designers to tailor eCommerce sites, while still integrating with other NetSuite modules.
SuiteCommerce InStore provides a full-featured mobile point-of-sale (POS) solution and access to inventory and customer information so sales associates can provide a more satisfying experience to your customers and drive sales at the same time.
Full-featured mobile POS
Enhanced customer profiles
Order and inventory management
Access and permissions
Real-time sales reporting
SuiteCommerce Customer Center gives your customers 24/7 self-service access to pay invoices, view account balances, check order status and file support cases online.
View and pay invoices
Update payment info
Request a refund, credit or return
PSA (Professional Services Automation)
SuiteProjects is natively integrated with NetSuite ERP to provide capabilities for project management, costing and resource allocation.
Project reporting and analytics
NetSuite Project Management provides basic project management capabilities to manage project schedules, assign resources to tasks and control project billing and revenue.
OpenAir provides rich project management functionality for large professional services organizations that deliver complex projects. With OpenAir, you get real-time visibility into project information and performance.
Reporting and dashboards
SuiteAnalytics provides a real-time view into your business performance, from summary to transaction level. Easy-to-use tools empower your team to dig into the data without technical expertise.
Workbook for users to explore and analyze data easily and securely
KPIs (key performance indicators)
SuitePeople HR is a centralized solution to maintain employee information and connect HR data with financial, planning and budgeting processes.
Employee directory, effective dating and access controls
Workforce management including time off, compensation, benefits and workforce planning
Employee self-service, recognition, onboarding and offboarding
NetSuite Incentive Compensation allows you to create and manage commission and other incentive-based compensation plans and share information with sales representatives so they have a clear picture of their incentives.
Commission rule calculations
Sales commission reporting and analytics
The price of your NetSuite system will be based on the modules you select, the size of your company and how many users you need. You can find a full breakdown of these factors in our NetSuite Pricing Guide.
To get an estimate for your business, reach out to our team. We’ll start by asking some questions about your business processes and any challenges you’re facing with your current systems to determine the NetSuite modules you need. Then we can provide a customized quote and demo for your NetSuite ERP solution.
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