Netsuite ERP: Revolutionizing Business Operations Worldwide
Businesses across the globe are discovering that Oracle NetSuite ERP can transform their operational methods. While such a statement might seem like an exaggeration or a sales pitch, it’s far from it. Just ask All-Safe Pool Safety Products.
Over a decade ago, All-Safe faced a dilemma.
The business was unable to manage its swelling data volume on QuickBooks software. The accounting system was also not integrated with All-Safe’s CRM and inventory systems, making it difficult for the company to access crucial business information. Ultimately, software issues led to delays and hindered growth.
Thus, All-Safe decided to implement the Oracle NetSuite ERP system in 2007. This platform unified all individual systems, making operations run more efficiently.
Subsequently, All-Safe’s business transformed. The company experienced steady growth post-ERP implementation. Productivity doubled through on-demand access to financial, inventory, and customer information. All-Safe saw a 25% increase in B2C sales as salespeople and managers gained complete sales force automation and prospect-to-order-to-cash management.
So, why did a single system make such a significant difference for this company? The secret lies in the free flow of information between departments and employees. Let’s discuss how ERP provides that freedom.
What is ERP?
Imagine ERP as the digital engine that runs a company. The acronym stands for “enterprise resource planning.” At its simplest definition, ERP is software that manages all business operations on a single platform. Oracle NetSuite ERP is one of the leading systems available.
For instance, a shoe manufacturer can run its accounting system, inventory management, and supply chain management through Oracle NetSuite ERP. Thus, the company needs only one program to track the flow of raw materials to its factory, items in the warehouse, packaging and shipping them to customers, and the finances associated with the business.
Of course, ERP software can do more than that. It uses a modular system to handle various operations, linking them through a central database. The most common modules include:
- Financial Management – Found in almost all ERPs. Tracks all transactions, reduces budgeting and forecasting cycle times, accelerates financial closings, and ensures compliance.
- Warehouse Management – Manages warehouse activities, such as packing and shipping. It also enhances efficiency.
- E-commerce – Known as SuiteCommerce, this module allows users to manage front-end and back-end operations for web stores.
- Inventory Management – Displays inventory numbers (updated in real-time) and tracks related metrics.
- Human Resources Management – Manages employee records and tracks workforce trends.
- Customer Relationship Management – Enhances customer service by managing client communications and facilitating prospects.
- Order Management – Organizes customer orders and then tracks them through delivery.
- Marketing Automation – Helps create systems to build and run marketing campaigns, then measures their success.
- Supply Chain Management – Tracks and manages goods as they travel from suppliers to factories to customers.
Companies can customize these modules to fit their needs. If Oracle NetSuite ERP is implemented correctly, various departments can access each system and pull updated data in real-time. Ultimately, ERP equips every division of the company with abundant data and accurate analytics, eliminating inefficiencies and data duplication and aiding leaders in making better decisions.
Who Uses ERP?
Many companies—from billion-dollar enterprises to mid-sized and small businesses—have benefited from ERP investments. The software’s modules provide flexibility and help companies grow as their business expands. They also allow ERP to be customized to nearly any industry, from consulting to hospitality to wholesale distribution.
Many businesses implement ERP after becoming frustrated with point solutions. Point software systems only handle one problem within a company. So, they don’t coordinate information across departments and are prone to duplication, errors, confusion, and delays.
Instead, these companies choose ERPs that:
- Cut costs by eliminating inefficiencies, automating simple tasks, and minimizing errors.
- Facilitate comprehensive and accurate reporting of key performance indicators and track meaningful trends. Thus, users get a complete picture of the company’s health and detailed business insights.
- Provide authorized employees with quick access to real-time project updates from any area in the company.
- Track every transaction and automate simple financial tasks to produce accurate financial reports that comply with government reporting standards and data security regulations.
- Strengthen financial controls.
- Allow employees to access information from any device—anywhere in the world.
- Protect data with the best security technology.
- Enable small to significant operational changes as the company grows.
- Improve customer satisfaction by tracking support tickets, survey responses, etc.
Because of ERP’s modular construction, even small companies can afford the software. Indeed, its annual cost can range from about $10,000 to millions of dollars, depending on the modules and deployment model the business needs.
Types of ERP Deployment Models
On-Premises—When they first appeared in the early 1990s, all ERPs were on-premises systems. This means the system was installed on servers owned by the company using it and located on the company’s property.
Although current technology has reduced their popularity, on-premises ERP systems still exist. Businesses using this deployment model are responsible for maintaining, securing, updating, and repairing their ERP, which often requires an entire IT staff.
Cloud-Based – This deployment model places the software on third-party servers outside the office. Company employees can then access the platform via a web browser from anywhere.
Providers often offer cloud-based ERP through a software-as-a-service (SaaS) delivery model. Thus, they are responsible for managing, upgrading, and patching the system.
Many businesses now choose this type of ERP because it offers greater flexibility than on-premises models and doesn’t require expensive servers and additional IT staff.
Hybrid – Some companies, especially those that have used on-premises ERP for years, opt for a hybrid approach, combining elements of both on-premises and cloud-based deployment models. They might use the on-premises platform for headquarters and switch to cloud-based ERP for regional offices, or they might use both systems for different functions.
Open-Source – Some providers offer inexpensive—or even free—ERP software. However, there’s a catch. Users receive little support and usually must configure the platform themselves.
ERP Implementation Made Easy
Oracle NetSuite ERP can streamline company operations and eliminate inefficiencies, but its platform can be complex. Many companies that try implementing it themselves often fail, creating more work and headaches for their staff.
Fortunately, SuiteDynamics is a NetSuite Alliance Partner and can help your company implement and customize Oracle NetSuite ERP to fit your specific needs. Our ongoing assistance and support will protect you from system pitfalls so you only experience its benefits.