What is NetSuite and Why is it the Top Cloud ERP for SMEs?

NetSuite is the leading cloud ERP (Enterprise Resource Planning) solution for growing businesses. It’s a unified business system that consolidates core functions into a central database to automate and simplify processes.

As the pioneer of cloud ERP, NetSuite launched their first SaaS (software as a service) solution in 1998 and was acquired by Oracle in 2016. This acquisition made Oracle the biggest software services provider in the world and gave NetSuite additional resources to become an even stronger player in the mid-market ERP space.

Fast forward to today – NetSuite has over 33,000 customers across 100 countries, ranging in size from start-up to enterprise. In recent years, they’ve been consistently ranked as a market leader by various sources.

• Placed in the Leaders quadrant of Gartner’s 2020 Magic Quadrant for Cloud Core Financial Management Systems for Midsize, Large and Global Enterprises for the third year in a row

• Named the #1 ERP system in Third Stage Consulting’s 2020 ERP and HCM Report

• Ranked by IDC as a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-enabled Medium-sized/Midmarket Business ERP Applications 2020 Vendor Assessment

What does NetSuite do?

Here’s a quick explanation of how the NetSuite platform supports growing businesses.

Think about the core functions in your business – accounting, customer management, inventory, purchasing, etc. The list will vary based on your industry and business structure. One of NetSuite’s greatest strengths is the modular design – every implementation starts with the core modules that every business needs:

• ERP – covers standard financial capabilities, order management, purchasing, item and basic inventory management, and basic project management

• CRM – includes contact management, service, and marketing / sales automation

From there, you can keep building out your solution with the functionality you need.

• Fixed Assets Management

• Financial Planning & Budgeting

• Production Management

• Supply Chain Management

• Advanced Inventory Management

• Warehouse Management (WMS)

• Professional Services Automation (PSA)

• B2B & B2C eCommerce

• Human Capital Management (HCM)

NetSuite has simplified this process with industry suites that bundle the most common modules, paired with a streamlined implementation approach that meets industry best practices. You get an ERP solution tailored to your business and you pay only for the features you need.

Here’s a look at the NetSuite product lineup – for more detail on what the solution can do, check out our NetSuite page.

Why more than 33,000 SMEs love NetSuite

With so many ERP solutions to choose from, what makes NetSuite the leading choice? This could be a pretty long list, but we’ve narrowed it down to the top four.

1. The NetSuite cloud platform – From a user’s perspective, the easy-to-use browser application is a huge plus. You have access to your system anywhere, so you can maintain productivity at the office, at home or on the road. From an IT perspective, the cloud platform lowers infrastructure costs, as you’re not maintaining servers and you rely less on in-house IT resources to manage your ERP system. It’s nearly impossible for small to mid-size companies to achieve the same level of data security, redundancy and uptime (NetSuite’s average uptime is 99.96%) on their own.

2. A scalable platform for growth – Many companies fear that they’ll be overwhelmed by systems that are too complex and offer way more than they need. NetSuite’s modular approach addresses this head on. It can meet the challenges of a growth stage company at a cost they can afford. And allows them to add functionality over time as they need it. The same applies to mid-market companies – implement the features you need and adjust over time as your business needs change.

3. Flexibility to meet unique needs – Industry best practices are at the heart of NetSuite’s implementations. But no two businesses are exactly the same – every company has their own special flavor. NetSuite’s approach is to start with the best practices (what we like to call ‘getting the base in place’) and then tailoring to your unique processes. This could be as simple as customizing the interface layout, to creating custom reports or workflows. Or perhaps you need to integrate with another application to extend functionality. Or take it a step further and develop an integrated application that’s specific to your business. With NetSuite, you have options. And our team has the experience to help – no matter how simple or sophisticated the solution.

4. Quick implementation time – With the SuiteSuccess implementation program, you can be up and running with your new ERP in 100 days. Rather than starting from scratch with every project, NetSuite implementations are designed around industry best practices and process optimization to give you the greatest results and a faster time to value.

As your NetSuite partner in Canada and the US, we’re here to guide you through the process – right from evaluation, through implementation and beyond. Connect with our team to get started.