Enterprise resource planning (ERP) software in its early days was developed for large organizations to manage their entire operation from a single software console. Today, ERP software is cloud-based and becoming more and more attractive to small to midsize businesses as well. This shift is largely due to a more customizable and cost-effective solution with the more modern ERP software.
A big player in this industry is NetSuite – Test drive their products with a Free Product Tour here.
In 1998, NetSuite pioneered the Cloud Computing revolution, establishing the world’s first company dedicated to delivering business applications over the Internet. Today, NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 21,000 customers in more than 200 countries and territories.
They pride themselves on being the #1 Cloud ERP, but what makes them number one? Check out some of NetSuite’s features with these top 5 standouts to find out the answer, but before that you would like to check this video:
1. Financial Reporting
Gain a modern financial reporting experience that delivers real-time financial analysis and modeling across every dimension of your business. This reporting offers detailed insights into corporate performance and will help improve business decision making. The key features of financial reporting are:
- Securely access financial reports from anywhere using a web browser or mobile device.
- Financial reports are highly flexible and can be easily customized.
- Diagnose financial issues on-the-fly and drill-down transactional details to quickly take action and drive business performance with informed decisions.
2. Invoice and Billing Management
NetSuite’s unified billing framework supports transaction, subscription, usage-based, and any hybrid model. This is all taken care of while NetSuite manages revenue accurately and in accordance with the latest revenue recognition standards.
- Core unified framework connects transactions, subscriptions, and projects to the billing engine and seamlessly flows to financials.
- Provides for the creation and management of complex rating models, often coupled with high volume transactions.
3. Planning and Budgeting
NetSuite Planning and Budgeting features facilitate both company-wide and departmental financial planning with modeling capabilities, approval workflows, and reporting within one collaborative scalable solution.
This feature offers comprehensive integration with Microsoft Office tools such as Microsoft Outlook, Excel, Word, and PowerPoint with Smart View for Office. Here are the two key functions of this feature:
- Streamline comprehensive CapEx planning and simplify complex OPEX planning.
- Atomate allocations of indirect expenses.
4. Price Optimization & Promotion Management
Replace your existing pricing software and promotions management architecture with NetSuite’s powerful native capabilities to establish multiple price levels, customer and currency-specific pricing, dollar and percentage discounts, promotion codes, and transaction-level gross profit analysis for a quick double-check on the effectiveness of your pricing strategy
- Assign price levels to different channels and customers.
- Definable rounding rules.
- Support for BOGO offers.
5. Sales Order Management & Processing
NetSuite’s Advanced Order Management functionality provides unrivaled visibility and helps automate many tasks to ensure that you are keeping your customers happy by hitting defined service levels and delivering on-time and from the most economical or geographically appropriate location.
- Real-time costing and gross profit information.
- Drag-n-drop interface for workflow approvals.
- Shorten the Order to Ship timeframe.
In a nutshell, NetSuite provides cloud ERP solutions for every size company, across every industry, in every part of the world. No matter your vertical, your current software, or your role in the company, you’ll find the flexibility and seamlessness you’re looking for.
Thousands of businesses are slashing their total cost of ownership, improving their finance team’s productivity, and integrating their sales and finance processes by simply switching over to NetSuite.
Get a Free Product Tour today and see the #1 Cloud ERP in action for yourself.