NETSUITE – ALL YOU NEED TO KNOW

Netsuite is the #1 cloud-based ERP(Enterprise Resource Planning) business software

solution that provides your business with an integrated system that can handle all your
business’ main processes. It has the same real-time data for your business team to
make the right decisions.

When we say “cloud-based,” it refers to an application or software that allows you to

use data and information stored in a so-called cloud computing provider’s server
through internet usage. Therefore, you, as a business owner, do not need to purchase
a server for your system locally because cloud-based computing allows you to access
software applications that run on shared computing resources through the internet.
These resources maintained in remote data centers dedicated to accommodating some
software on multiple platforms.

One major benefit of Netsuite is its ease of use. It also provides an integrated system
that suite your business. These systems can be accessed anywhere, anytime, as long as
you have an internet connection. Some of these systems are:

 Accounts Payable
 Accounts Receivable
  Bank Management
 Currency & Tax Management
 Customer Service Management
 Employee Center (Time & Expense Management) 
 General Ledger
 Item & Inventory Management
 Marketing Automation
 Order Management
 Partner Relationship Management
 Procurement
 Sales Force Automation

Another great thing about Netsuite is the modular approach and its open architecture
that allows businesses to add and remove modules to meet business demands. It is
also the only on-demand application that associates financials/ERP, CRM, and
Ecommerce into a single system. It is perfect for creating targeted business
applications. These are the modules list to add or removed if you have Netsuite:

 Fixed Assets - Fixed Asset Management provides you with the power to
eliminate spreadsheets and manual effort from your company’s asset
management processes. NetSuite’s complete and integrated solution gives
you an easy-to-manage single version of the truth for your assets, a
flexible fixed asset calculation engine, comprehensive asset reporting, and
seamless integration with NetSuite’s core accounting functionality.

 Revenue Management – Featuring 1. Automate Planning(Automatically

schedule revenue to recognize in the appropriate period based on rules.)
2. Support Multi-Currency Transactions(Ensure that fluctuations in
exchange rates appropriately accounted for in each period.) 3. Manage
Balance Sheet Accounts(Automatically adjust contract liability and contract
asset balances based on real-time billings and revenue data.) 4. View
Financials in Real-Time(Automatically post to the general ledger from
Revenue Plans on your schedule, as frequently as you wish.) 5. Adaptive
Forecasting(Provide flexible forecasting to accommodate revenue
projection updates based on real-time business events such as project
plan updates or planned revenue withheld to a future period.)

 OneWorld - delivers a real-time, unified global business management

platform for enterprises that manage multinational and multi-subsidiary
operations at a fraction of the cost of traditional on-premise ERP
solutions.
 Multibook Accounting - To report financial results within compliance
based on multiple accounting standards concurrently, accounting
departments can now leverage NetSuite Multi-Book to comply with various
sets of business books in parallel and issue your financial statements
following whichever accounting standards are required.

 SuiteBilling - is the leading cloud-based billing solution. From

consolidated invoicing, flexible pricing and packaging and automated
rating processes, to seamless integrations with NetSuite Advanced
Revenue Management and Core Financials modules, NetSuite SuiteBilling
provides transparency around all billing activities with a powerful
Software-as-a-Service (SaaS) suite.

 Advanced Procurement - helps companies improve the procurement

process by exerting tighter control over spending, simplifying requests for
goods and services, and rendering real-time visibility end-to-end.

 Advanced Software - Automated Issue Resolution and Management

and Electronic File Delivery.

 Advanced Inventory - Tighten control over your full inventory lifecycle

across multiple locations.

 Warehouse Management System - is a robust and scalable warehouse

management solution native to the NetSuite platform. With industry-
leading features such as mobile RF barcode scanning, wave planning,
cartonization, kitting, space management, and more, NetSuite WMS
increases efficiency, improves operational excellence, and lowers cost for
warehouses of any size and complexity.

 Advanced Order Management - adds intelligence and automation to

NetSuite Order Management, enabling you to deliver the perfect order
every time.

 Demand Planning - enables purchasing and inventory managers to

determine the demand projection of items in the coming months based on
historical data and trends or sales forecast information.

 Project Management - Manage your services organization more

effectively with integrated project management, project tracking, and
reporting with NetSuite Project Management. You can automate project
creation when specific services sold and automatically track percent
complete, time budget, and time spent on project tasks. Reports for
utilization and backlog help analyze employee workloads and efficiency.
  Resource Allocation - providing a single view of the customer, orders,
inventory, and other critical business data that enables personal and
relevant omnichannel experiences.

 Premiere Payroll Service – is a full-service solution for managing your

payroll. It minimizes payroll headaches, reduces tedious paperwork, and
gives you peace of mind.

 SuiteCommerce Advanced - provides businesses with fast and

engaging web stores that deliver great shopping experiences optimized
for any device.

 SuiteCommerce InStore(POS) - provides retailers with a solution that

unifies the physical and digital shopping experiences within a single,
cloud-based commerce platform.

 SuiteCommerce Standard - unifies ecommerce with your core

operational business systems like inventory and order management,
marketing, customer support, and financials that are providing a single
view of the customer, orders, inventory, and other critical business data
that enables personal and relevant omnichannel experiences.

This NetSuite add-on modules also offer you flexibility, as you can add them
any time during the length of your NetSuite subscription.

Take note that to keep your business growing, you must have your business
applications integrated around a single application, database, and business
process. The advantages of this kind of system implemented will lead to cost
savings and improved business productivity, including process efficiency
across your organization, improved visibility, significant IT time and cost
savings, accelerated growth, and user-driven innovation.

Nowadays, businesses are using sophisticated business software that they

think can help their company to grow, but many are still struggling. With the
benefits of Netsuite integrated business software system, businesses may
transform and enable them to transcend growing pains that formerly were
holding them back from taking their business to the next level of profitable
growth.