Choosing an Enterprise Resource Planning (ERP) solution is a significant decision that can impact the trajectory of a business for years to come.
While no company takes this decision lightly, far too many devote months (if not years) to ERP implementation, only to be left with a system that produces underwhelming results. Why does this exact scenario repeatedly play out in almost every industry? The answer is simple: many organizations put their trust in the wrong ERP platform.
The good news is that your organization can avoid going down this same path by implementing Oracle NetSuite ERP, the most robust ERP solution on the market. Find out more about critical NetSuite advantages over other options.
What is Oracle NetSuite ERP?
Oracle NetSuite ERP is a cloud-based business management solution that enables businesses to gain real-time insights into both financial and operational performance. NetSuite promotes more efficient resource planning and management by enabling business owners to automate redundant processes.
NetSuite ERP provides a single source of truth. Additionally, it has numerous modules and applications, each of which is designed to expand the capabilities of the core software. NetSuite can assist what managing processes such as these:
- Inventory management
- Order processing
- Warehouse operations
- Supply chain management
With NetSuite, businesses can accomplish more with less. Its automation tools are designed to maximize the productivity of existing staff, improve financial operations, and empower businesses to fuel long-term growth.
7 Ways NetSuite Outpaces the Competition
NetSuite ERP offers many advantages compared to other ERP software solutions. Here are seven clear NetSuite advantages that separate Oracle’s solution from the competition.
1. Bolt-On Modules
On its own, NetSuite’s core ERP platform provides businesses with a wealth of tools, resources, and features. However, NetSuite offers numerous other features via its various modules. Each module can easily be added onto the core NetSuite platform in order to tailor the experience to the needs of the business.
NetSuite offers well over a dozen different modules, any combination of which can be implemented in conjunction with the central platform. Some of NetSuite’s most notable modules include the following:
- Advanced Financials
- Revenue Management
- AP Automation
- Planning & Budgeting
- Multi-Book Accounting
- Dunning Letters
- Incentive Compensation
- Analytics Warehouse
In addition to providing inventory and financial management tools, NetSuite also offers various human resources modules. This diverse array of tools makes NetSuite a true all-in-one business solution.
2. Real-Time Data Visibility
If your business still relies on generic accounting software or spreadsheet-based financial management practices, you’re essentially working in the dark. These antiquated approaches provide far too little visibility to allow you to make informed business decisions.
While many NetSuite alternatives claim to enhance your data visibility, most of them still have blind spots. As such, they can’t guide decision-making or provide real-time insights into business operations.
By contrast, NetSuite offers true real-time data visibility. The platform includes customizable dashboards that your team can use to assess business performance at a glance. It can also unify previously segmented customer records and serve as a single source of truth.
NetSuite features robust report-generation tools as well. These helpful tools can be used to condense business data into easy-to-digest reports so you can disseminate information across your entire team.
3. Powerful Automation Tools
While there are numerous features you should look for in an ERP solution, automation tools definitely fall into the “must-have” category.
Ideally, you want a software solution that enables you to automate as many workflows and processes as possible. Automating many functions will magnify your return on investment, optimize business productivity, and decrease your new software’s time to value.
NetSuite ERP offers a more comprehensive suite of automation tools than any other enterprise resource planning solution, bar none.
It provides end-to-end data automation, meaning business data is automatically distributed across your entire suite of applications once it’s put into a single interface. The built-in automation helps to:
- Eliminate data entry redundancies;
- Decrease the likelihood of human error;
- Ensure that your entire network contains the most up-to-date business data.
Automating data entry also improves the productivity of your team. Instead of wasting hours manually inputting data, they can devote their skills to more dynamic tasks that deliver value for your business.
4. Flexibility and Scalability
Implementing an enterprise resource planning solution is a labor-intensive and time-consuming investment. It can also be incredibly costly. Therefore, it’s vital that you choose an ERP system that will meet your company’s needs both now and for years to come.
Oracle NetSuite is unique in that it can grow and scale with your business. As your needs evolve, you can implement additional NetSuite modules to expand your ERP software’s functionality. As noted earlier, NetSuite has dozens of modules that address various business processes.
NetSuite isn’t just scalable — it offers flexible pricing as well.
NetSuite offers several different pricing tiers, making it possible for you to choose the most economical subscription based on the needs of your business and the number of users you need to support.
5. Integration Support for Third-Party Solutions
Regardless of which ERP you implement, you may still need to leverage a few third-party systems to support auxiliary business processes. If you invest in a lesser ERP, you’ll face one of two options when it comes to these third-party solutions.
The first approach involves not integrating third-party software into your ERP. That scenario means you’ll be stuck alternating between at least two disparate systems, which can hinder overall productivity. Your other option is manually integrating the software into your ERP, which is costly and time-consuming.
However, if you implement NetSuite ERP, you’ll find that integrating your third-party solutions into your core resource planning software is quick and seamless. The reason why is that NetSuite includes integration support for numerous third-party applications.
6. Customization Options
Every business is unique, which is why NetSuite ERP was designed to be highly customizable. With NetSuite, you can add as few or as many modules as you need to streamline your business operations.
However, NetSuite’s customization options go far beyond its modules and other add-ons. You can also customize your user interface and dashboard.
Customization allows you to gather insights into business performance based on your roles and responsibilities more efficiently. Other users have the freedom to do the same so that they can be more productive and efficient.
You can also customize Oracle NetSuite by integrating third-party applications into the platform. Supported add-ons function flawlessly as NetSuite’s native modules, yielding a frictionless user experience.
7. A Single Source of Truth
Does navigating the responsibilities of a typical workday require your team to frantically alternate between three or more different systems? You can make this process a distant memory by transitioning to Oracle NetSuite.
Once you wrap up your NetSuite implementation project, your team will be able to access, manage, and govern all core business processes from a unified interface. That means no more wasting time switching back and forth between disjointed systems.
Creating a single source of truth will significantly increase your productivity and efficiency. Perhaps more importantly, it will enable you to more closely monitor business performance, detect potentially concerning trends, and proactively address any concerns you might have so you can fuel the continued growth of your business.
Tap Into These NetSuite Advantages Working with Finlyte
As you can see from the NetSuite advantages outlined here, this robust ERP platform is simply the best solution for your business, regardless of industry. It has the modules, tools, features, and scalability necessary to adapt to the changing needs of your business.
With that being said, if there’s any aspect of NetSuite that might discourage you from using the platform, it’s the implementation process.
Implementing an ERP solution can be challenging without the right support team. Fortunately, you don’t have to navigate this process alone.
Finlyte has the resources, knowledge, and expertise to guide you through your NetSuite implementation. We can customize NetSuite to suit your company’s needs, provide ongoing support, and help you maximize the return on your investment. Our team can even assist with the integration of third-party systems.
To learn more about Finlyte’s NetSuite implementation services, schedule a consultation with our team today. We are ready to support you on the ERP implementation journey.