What Is NetSuite?
In this modern age of business, having a comprehensive, computerized platform from which to run your operations is crucial. Contemporary companies need cloud-based business management software just to stay afloat. To truly expand and reach their full potential, businesses need the best solutions. At SCS Cloud, our team of specialists are dedicated to helping our clients succeed. With our advanced technical expertise and decades of combined practical experience, we’ve identified the optimal software systems to work with.
One of our favorite products is NetSuite. You may have heard of this brand, but what does it really offer to your business? In the following blog, we explain what NetSuite is, what it can do for you, and how our team can help you make the most of its advantages.
The Basic Backstory
Before you commit to NetSuite as your cloud-based business software suite, it may be useful to know the history of this product. According to CRM Exposed’s “NetSuite Exposed – Background & History,” this system is nearly two decaded in the making. The site explains: “NetSuite’s original company name was NetLedger and its initial product was an online accounting software solution.” Originally created in 1998 in the budding Silicon Valley, the company transformed into NetSuite when it was “reincorporated in the State of Delaware in 2007.”
NetSuite is closely tied to the Oracle Corporation (now purchased by Oracle), a major name in database software development. As CRM Exposed notes: “Oracle CEO Larry Ellison” provided start-up funding for NetSuite, as well as “a host of staff previously employed at Oracle.” From these promising beginnings, NetSuite “has evolved from a single simple hosted accounting system to a fully integrated on-demand solution” that covers virtually every facet of running a company. Nowadays, NetSuite boasts many high-profile clients, including Williams-Sonoma, Lucky Brand fashion, Shaw manufacturing, DocuSign, The Boston Globe, and more.
What NetSuite Does
The short answer to “what does NetSuite do?” is: just about everything! It has become one of the top products of its type because it is so versatile and embracive. NetSuite is cloud-based, meaning that it stores users’ information on state-of-the-art, remote servers and allows them to access their data from any device, at any time, so long as they have the correct login. This sophisticated solution combines a wide variety of applications and operations, including:
- ECommerce: this segment of software allows businesses to digitally manage their transactions, orders, inventory, and financial reporting. In addition, SuiteCommerce provides an outstanding customer experience when online shopping
- Customer Relationship Management (CRM): Your business’s customers are perhaps your most valuable assets. NetSuite CRM+ collects, analyzes, and optimizes client information so your marketing, sales, and customer service teams can do their best work ever.
- Professional Services Automation (PSA): This suite of applications covers your company’s day-to-day operations, such as basic accounting, employee timesheets, expense documentation, project management, and more, streamlining and simplifying your life.
- Enterprise Resource Planning (ERP): Netsuite ERP includes software that helps companies administer their finances—everything from payroll sheets to purchase orders. ERP is related to ECommmerce and PSA, but on a broader scale.
NetSuite isn’t just one of SCS Cloud’s first choices in business software. The latest data demonstrates that most companies around the world agree with our thinking. According to an April 2016 report, the company’s “market share growth rate of 45 percent is more than three times the rate of its closest competitor within the top 10 by market share.” In addition, as “the only pure cloud software provider among the top 15” its “revenue growth” was “nearly four times…its closest competitor.”
These stunning statistics are due to the particular advantages NetSuite offers, such as its:
- Ease of use and flexibility. NetSuite cloud-based system is as intuitive as it is ingenious in its design.
- Customization possibilities. In a recent white paper, NetSuite points out: “customizable dashboards offer real-time access to key performance metrics, supporting intelligent, timely business decisions.” Even beyond the dashboard, the report notes: “NetSuite is the world’s most customizable Software-as-a-Service (SaaS) solution.”
- Value. NetSuite is designed to be financially within reach: “built from the ground up for growing and midsize businesses, NetSuite offers affordable pricing, accelerated implementation, and comprehensive support packages.”
- And many more.
Are You Ready to Implement NetSuite?
Our seasoned team of specialists has the skills to configure NetSuite to meet your company’s needs and grow your business. If you’re ready to learn more about what it can do for you, contact SCS Cloud today to schedule a consultation.