Why Oracle NetSuite is Best for Business Management?

Posted By: author
Posted On: 16 Jun, 2021
Last Updated On: 18 Jun, 2021

Introduction 

Oracle NetSuite offers a cloud-based business management platform, and it caters to industry-specific business needs with ERP(Enterprise Resource Planning), CRM (Customer Relationship Management) and PSA (professional services automation) solutions. NetSuite provides cloud computing that helps to manage the business finances, customer relations and other company’s operations. It also helps to efficiently manage a company’s warehouse/inventory and other e-commerce activities. 

 Let’s have a look at Oracle NetSuite’s other features in detail and its real-life use cases. 

Why should businesses use Oracle NetSuite?

Oracle NetSuite has four primary agenda, and they are: to make efficient financial operations, to get more control over the inventory management system, replacing the traditional accounting software and understanding what the customers want.  Therefore, businesses must consider Oracle NetSuite as it provides a wide range of industry-specific solutions. These industry-specific solutions provide many pre-defined and customized versions of applications to address issues in business operations. Most importantly, Oracle NetSuite’s scalability feature makes it suitable for all business sizes. Therefore, many clients recommend this software. However, one must think about the future before selecting the software for the company.   

Features: Oracle NetSuite

Oracle NetSuite

 The list of features owned by NetSuite (ERP, CRM, E-commerce) includes: 

  • Effective management of the financial process.  
  • Excellent report generation tools with real-time information. 
  • Advanced Inventory management solution.  
  • Customer management.  
  • Campaign Management. 
  • Strong Data & Cloud Security.   
  • Offers the highest marketing features (e.g., upsell and cross-sell).  

Pricing: Oracle NetSuite

NetSuite’s price can be customized for each client, including ERP configuration, total user count, contract length, and required add-on modules. The base license of NetSuite costs $999/mo with access costs of $99 per user per month. The NetSuite license serves as a subscription model and can be renewed annually or over longer intervals. In addition, several bundled vertical editions of NetSuite are also available, which can be helpful in quickly identifying the package and modules that would meet a customer’s needs. 

Real-life use cases: Oracle NetSuite  

  • Lucky Brand company makes designer jeans and other apparel and uses Oracle’s product NetSuite one world to gain flexibility, agility, scalability for retail and wholesale business growth. Netsuite’s software, Bronto helps to automate commerce marketing. This product helped to deliver timely, relevant and data-driven digital marketing. Additionally, NetSuite helped Lucky Brand provide a platform with a wide range of functionality for running complex business processes across multiple subsidiaries for wholesale and retail businesses. Oracle NetSuite offers a cloud-based solution to speed up business operations and helped in IT savings. This software uses a single data repository and offers accurate and real-time visibility across all business subsidiaries and entities.  

  • Avant is a Chicago based company that provides financial services like online personal loans to customers. In 2012, it was a budding brand with limited staff and clients. The company has been applying machine learning protocols, algorithms, and other analytical tools to pull the standard customer data to determine the customized rate and amount at which customers can borrow money. The company uses NetSuite Oneworld. This software helped Avant to become agile towards the changing patterns and trends in the business domain; It also provided scalability and helped the company to become efficient in no time. Avant has seen sharp growth since its inception and currently operates in 46 states, Canada and UK.

  • A Boston-based renowned publishing house, the Boston Globe Media Partners, which publishes the largest daily newspaper, the Boston Globe in New England, was searching for a new financial system. The company wanted to reinvent itself with a modern, comprehensive solution to manage its business operations. Even though the publishing house considered Microsoft Dynamic GP earlier, they chose Oracle NetSuite to renovate their management structure. And they changed their legacy on-premise system. Oracle NetSuite helped Boston Globe Media Partners to improve the efficiency in management and reporting.  And the company also saved a lot of time and money in performing redundant tasks.  

Conclusion   

Oracle NetSuite is a cloud-based business management program that caters to industry-specific business and efficiently handles various company departments. It includes business reporting, inventory/warehouse management, customer management, sales management, provides flexible customizations and updates, provides reliable data and cloud security and much more. Oracle NetSuite platform offers ERP, CRM, PSA and e-commerce facilities.  

The important data generated in Netsuite can be harnessed for deeper business insights such as optimize marketing budget, allocation of resources in different media channels. Quickly load data from Netsuite to any popular data warehouse for faster data analysis and reporting using cloud data pipeline Daton. It is a powerful ETL tool that easily fetches data from various sources to popular data warehouses without requiring any coding experience and maintenance.

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