Cloud-based business management platform NetSuite is utilized by more than 29,000 fast-growing companies worldwide. That platform comprises a collection of applications that assist organizations in running their operations, understanding the success of their operations, and achieving significant efficiency and cost savings.
NetSuite’s cloud enterprise resource planning (ERP) solution provides organizations with all of the tools they require to manage their operations effectively while also encouraging development. NetSuite is used by businesses of all sizes and across various industries. Its applications for finance, supply chain management, customer relationship management (CRM), human resources, professional services, e-commerce, and other functions are used by organizations of all sizes and across various industries.
The organization’s enterprise resource planning system (ERP) controls fundamental tasks such as finance and accounting, inventories, orders, and procurement. Customers can choose from a variety of modules, including CRM for automated sales, service, and marketing, human resources (HR) for personnel records, performance management, and payroll, professional services automation (PSA) for project planning and tracking, and omnichannel commerce for online and in-store sales. All of these modules are linked together through a shared database. Information from throughout the system is updated in real-time and made available to authorized users across all business processes due to the central data source.
This provides leaders with a real-time, 360-degree perspective of the business, allowing them to see which processes or departments perform well and which require improvement.
NetSuite employs the software as a service (SaaS) model, which means that customers pay a subscription fee to gain access to the technology but are not responsible for any underlying infrastructure or system maintenance, such as purchasing and configuring servers, installing software, or testing and deploying patches and upgrades. Oracle NetSuite takes care of everything for customers, and the software is updated twice a year with new features.
Eliminating the maintenance and update expenses associated with on-premises solutions saves money. It frees up personnel to focus on the company’s goal and customer service.
Additionally, the SaaS model enables scalability: businesses may add features as needed without worrying about infrastructure or employee resources. For example, a B2B manufacturer may opt to use NetSuite’s e-commerce module after deciding to begin selling its products on the internet.
It all comes down to having a single source of real-time information and the ability to add modules on the fly. This improves their overall efficiency and adaptability.
