Oracle NetSuite vs other ERP’sOctober 18, 2022
Today, NetSuite’s cloud enterprise resource planning (ERP) system provides companies with all the applications they need to run their business efficiently and drive growth. Companies of all sizes and across dozens of industries use NetSuite to leverage its rich capabilities in applications such as finance, supply chain, customer relationship management (CRM), human resources, professional services, and e-commerce.
NetSuite’s Five Core Capabilities
NetSuite may be the oldest, but it’s not the only cloud ERP software provider. So what makes NetSuite different from other cloud solutions? Here are five highlights.
A unified view of your business:
With NetSuite, any company can run their entire business from a single platform. Combine finance, supply chain, manufacturing, human resources, and e-commerce into one system using one database rather than using different software for each of these functions. Employees can log in and monitor the status and performance of all aspects of their work with just a few clicks.
All NetSuite applications feed and pull information from a central database to ensure there is only one source of knowledge. The platform’s natively integrated modules eliminate the need for third-party integrations that are unreliable or unable to support real-time updates. This unified architecture provides a common user interface for all modules. This reduces training time and increases employee productivity. The model also allows users to complete order-to-cash, procure-to-pay, and other multi-step processes from a single application without re-entering or exporting information.
NetSuite was born in the cloud and designed for the cloud. In contrast, many “cloud” ERP systems are actually hosted or hybrid clouds, on-premises software modified to be accessed over the Internet. Such solutions suffer from many of the problems that plague traditional systems, such as version locking, slow upgrades, and lack of scalability. NetSuite is a multi-tenant, provider-managed cloud solution with limitless scope to support growth.
Extensive reporting capabilities:
The large amount of data flowing into the NetSuite platform from departments and business units drives its extensive reporting capabilities. Users can get reports on anything they want to measure or understand thanks to the system’s built-in reporting tools. NetSuite also features role-based dashboards that quickly give employees, managers, and executives the information they need to make informed decisions.
Packed with great features, NetSuite can be customized to meet the needs of different organizations, making it suitable for a wide range of industries. Whether you’re a multinational brand with six subsidiaries or a start-up still developing its first product, the platform can be customized to your processes and organizational structure using Suite Cloud apps and tools.
SaaS ERP systems are typically quicker to implement compared to on-premises systems, as there are no servers to set up or devices to configure. NetSuite builds on this advantage with its Suite Success implementation methodology, an approach not offered by other software vendors.