A Detailed NetSuite Buyer’s Guide 2021

A Detailed NetSuite Buyer’s Guide 2021

Jul,12,2021· 6 min read

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NetSuite helps you in building a rock-solid business. NetSuite will be there for your business throughout, from the beginning to the end. NetSuite will help your business grow by globalizing it.

NetSuite is becoming more and more famous as well as necessary. NetSuite is spreading around the world, helping every business that needs them. If you are looking for ways to increase the base of your business, then you have come to the right place. NetSuite implementation services will help you in making your business more familiar to people. 

In this article, you will get to know about the ultimate NetSuite overview, and everything you need to know about NetSuite as a buyer.

What Is NetSuite?

NetSuite is a computer software company that helps you to manage your business within a sole system. NetSuite is the world’s overriding cloud ERP. NetSuite will provide you with software solutions from start to finish off. NetSuite helps many businesses, including advertising and digital marketing, consulting, foods and beverages, financial services, education, IT services, Health and beauty, restaurants and hospitalization, and many more.

Why Do You Need NetSuite?

NetSuite will help you and your business from the very beginning. NetSuite will help you set up your business in a smart as well as effective way. Nowadays, more people are choosing NetSuite as a backbone for their business. NetSuite will be your sole companion throughout the time of your business. Let your business be anything IT services, Project management; Finance let it be anything NetSuite will be there with you throughout your business years. NetSuite will build a solid foundation for your business. It will help you manage around 190 currencies from about 90+ countries. 

7 Benefits Of Using NetSuite For Your Business

You will have unparalleled availability of a standard uptime of at least 99.96%, as well as complete performance clarity. NetSuite will cover all types of disasters and will help you in securing your business without any further loss during the time of any disaster. NetSuite is a sole platform that performs all types of services; additionally, they also run and take care of numerous business management demands. Globalizing your business is one of the things that NetSuite does, and they also do this efficiently. 

NetSuite will introduce your business to not just your country but to the whole world. Your business will get exposed to all the people out there in the world. NetSuite is such a platform that will help you provide services without much of an error. NetSuite will aid you in decreasing the IT cost. It is available at any time and will be reformed automatically. 

Read More : Why you Should Implement NetSuite For your Business

Why Has NetSuite Become So Successful?

NetSuite has grown in the past several years. There are many reasons behind NetSuite becoming this successful. And because of these reasons, they have customers from all around the world. NetSuite is also used by many companies like Cheran Foundation Trust, TORI Global Ltd, Best Choice Products, etc. NetSuite aids you in getting adapted to the growing standard of business. If you want to make amends in your business, there is nothing to worry about. 

NetSuite is your companion. Even if you have a small business, NetSuite will help you grow your small business beyond even your imagination. NetSuite also allows you to work at any time zone you want. The excellent mobility of NetSuite will make sure that you can work 24/7 any time anywhere according to your convenience. 

The Configuration of NetSuite   

Configuring Software

NetSuite is one of the only sites that allow you to amend and bend the modules as per convenience. NetSuite has a variety of modules and many different functions. By analyzing these features and modules by their clients, NetSuite developed the solutions for many types of business. The solutions can observe NetSuite at the level called the modular level. NetSuite can be expanded, amended, bend, and used according to your satisfaction. There is no specific configuration for NetSuite; you can customize your structure according to your running business. 

Selection & Purchasing NetSuite Modules

NetSuite is such a platform; no matter what business you are running, you can configure your modules to make them fit into your requirement even though some such modules are already built as well as configured. These modules are; Finance, Services, wholesale distribution, and Manufacturing. There are two versions of each of these modules, premium, and standard. 

Advanced NetSuite Module Pricing 

You can choose the version according to your needs. But the premium is said to be the one with more functions and features than the standard version. You are also allowed to add any specific role you want which is not included in the already readymade premium or standard. You can also make your business adapt to working in different locations as part of the globalizing of your business. 

You will also have to furnish your business to handle different timelines and also other currencies. A module called NetSuite One World will help you get familiar with the idea of globalizing your business. 

Read More : A Comprehensive Guide To NetSuite Modules

What Are All There In The NetSuite ERP?

Despite the industry you are in or which option you have taken, the standard one or the premium one, you will have access to all the modules you have chosen and get many valuable tools. NetSuite has two types of user licenses. The first one is a complete user, and the second one is called self-service. By choosing the second one, self-service, you will only have access to a limited number of features and functions. Whereas the first one, which or the whole user option, will give you unlimited access to all the features and functions of NetSuite. 

NetSuite ERP Features

The NetSuite has many elements in the modules lets us look into the parts of some of the best ones. The first one is the CRM module which consists of features like opportunity management, partner relationship management, Customer service management. It mainly contains the features which are related to customer relationship management. 

The next one is the ERP module with features like Multi-currency, Multi-language, Bank management, Purchasing, and many more. ERP module mainly contains features about Enterprise Resource Management. The Financial Management Module is the next module.

This module deals with various features like accounting, advanced revenue management, etc.

Ecommerce and retail management, this module mainly consists of advanced order management, SuitCommerce advanced, and standard. The next one is the Inventory and Manufacturing Management module; this module consists of advanced manufacturing, work orders, and assemblies, Demand planning.

What All Other Than This Will NetSuite Help You With

The menu composition is the most loved feature of NetSuite, but another element is much more precious and famous, called Dashboard. You can use the Dashboard to analyze your everyday business progress and news. The contents will present contents in the form of Portlets. There are different types of Portlets. These include:

Analytical Portlets 

Analytical Portlets allow you to show your Suite Analytics in the form of a table or chart.

Calendar Portlets

The Calendar Portlets will show you your calls or the upcoming events and essential things in a calendar form, making it easier for you to manage your time.

NetSuite Portlet

KPI Meter Portlets 

KPI meter means the Key Performance Indication meter; using this, you will analyze your business progress. It will be shown in the form of a meter.

KPI Scoreboard Portlets

The KPI scoreboard is just the same as the KPI meter; the only difference is that this will display in a different form, in the form of a scoreboard. 

List Portlets

The List Portlets help you know the data of anything in NetSuite. A user can access the list of the data like opportunities and the number of customers and employees.

Reminder Portlets 

These Portlets remind you about the reminders you have kept for something.

There are more Portlets like the:

  • Quick add
  • Trend Chart Portlets
  • Report Snapshots Portlets
  • Tasks

How To Personalize Your NetSuite Dashboard

You can customize the NetSuite Dashboard according to your own needs and conveniences. You can personalize it by clicking on the personalize option, which can find in the top right corner. When you open it, you will see a dropdown menu that contains the list of Portlets. Now all you have to do is drag a portlet you want and drop it on the screen. And also, you should take extra care while publishing a Dashboard because once it is published, you will not be able to change anything. 

NetSuite customize dashboard

If you don't want to customize your Dashboard, there is a variety of readymade Dashboard which you can use without any hassle. The Dashboard provided by NetSuite will be already configured and will fit the personal need of anyone.

NetSuite allows you to make your personalized Dashboards, forms, and functionality, reports, etc. NetSuite will create straight links for all types of information that you will need

Read More : Detailed NetSuite Dashboard Guide

Customize NetSuite To Fit With Your Business

NetSuite is such a platform that provides unbelievably unique customizations features which will help you in fitting all types of business necessities. NetSuite ERP customization Service will help you in increasing the altogether performance of your business. This customization will help you adopting and managing the business efficiently. NetSuite can also customize to charts and worksheets for expressing the progress of your business. 

Things To Do To Reduce The Money Usage While Using NetSuite

As it is said, the cost of your NetSuite features will mainly depend on the types of customization and amendments that you will be making for your software. So the first thing to do to save money while using NetSuite is to cut down the unnecessary customizations. Reduce the use of features that are not reasonably necessary and make software that will attract people to your business. If your business is a small one, it is better to follow the above-given instruction. Maybe you can use all the features you want after some time when your business has grown. So till then, use what you want and leave the rest. It will help you in cutting down the costs a notch. 

Reduce NetSuite Implementation Cost

You can also take the make your practices rather than using the old ones. It will also help you save money while using NetSuite. As you say before, there are mainly two licenses for using NetSuite. These are the total user and the self-service licenses. If you are confused about which one you should take from these two, it will be better to ask someone experienced in this area for advice. If you choose the best one considering the budget, it will save you from using excess money. NetSuite also gives out discounts while taking the licenses, so that helps too. People are saying that NetSuite is very costly and all. 

But if you use NetSuite according to your budget without making any unnecessary investments, then NetSuite won't be that costly. All you need to know is your budget, and also consulting an expert on how to fit NetSuite into your pockets will also help.

You can also make a partner to share the cost of NetSuite. When you have a partner, you will split the price, which will help you take the features and functions you want. It will help in making your business look more efficient. But still, it's not necessary to have a partner to afford the NetSuite cost. You can use the above-given solutions too.

Read More : How to Minimize Netsuite Implementation Cost

Training To Use NetSuite

Nowadays, many websites offer training courses that cover everything that you need to know about NetSuite and its features, pricing, how to use the guide, and things to keep in mind while using NetSuite, etc. Getting the NetSuite training will help you understand more about NetSuite that too from professionals. Some good sites for this are cloudfoundation.com, Udemy, hkrtrainings.com, etc. These are just some of the good websites. 

Training To Use NetSuite

There are a wide variety of websites which offer excellent and efficient training. But it would help if you were careful while selecting a suitable course because some websites are also there that don't provide good training. 

Why Is NetSuite Different From Other Such Platforms?

NetSuite is a site that was born from nothingness, and today they are standing on top of all the other ERP and financial platforms. It is because they give the best of the best ways to increase your business opportunities. NetSuite is also one platform that allows you to create and customize features and functions according to your business demands. It also allows you to access the best features at an affordable rate. 

When other sites do not allow you to change your modules and features, NetSuite is the only one that allows you to change them to your convenience. You can make amendments any time you want without any complications, which include coding. And by making yourself adapt to the SuiteSuccess, you will address the MLP (minimum loveable products) implementation. It will also help you in getting a clear idea of what you have in front of you. 

So you will be able to continue without any disturbance in your business. The last but the essential point why NetSuite is the best for every type of business is that they are very affordable. It is one of the things all the other platforms lack in. At an affordable price, you will get all those features and functions the other platforms offer and more. It will help you in making your business a success in all possible ways. 

Why Do You Need A NetSuite Partner?

What is the need for a partner? By having a partner, the first and foremost thing is to reduce the cost of NetSuite. When you work straight with NetSuite, you will most probably get the industry-standard implementation. At the same time, you will need the implementation that is best for your business. But when you work together with a partner, they will know how these things work and help you with all the things you need. 

importance of hiring a right NetSuite developer

When you have a partner, you have a backbone that will support you throughout your business days. They will help you reach the height you want. So it is essential thing to have a partner while using NetSuite. So now you know the importance of a partner, but how will you choose a partner?

Choosing the best NetSuite Partner is an essential thing while using NetSuite. If your choice is NetSuite ERP, then surely you could use a partner. There are many NetSuite Alliance Partners out there, so make sure that you choose someone from them when you choose.

Read More: Hire NetSuite Implementation Partners And Make Success Certain

Choosing The Right NetSuite Partner

Expertise In The Industry

While determining a partner for NetSuite, you must choose the partner carefully and by taking time rather than jumping on the first partner that comes your way. It would help if you chose a partner who has quite a lot of experience in the industry. A partner must collaborate with many companies in the past. If they have experience, it will be better to choose them because they will have answers and solutions to all your questions.

Certified Partners 

Another way you can measure a partner's trustworthiness is by checking if they have been certified or not. It will prove to you whether they are good enough to be made a partner for NetSuite.

Recommendations & Feedbacks

While looking for a partner, choose the one who has references. You can also check for feedback from their other clients, which will help you understand their credibility. The references and feedbacks are some of the best ways to choose a partner, as the feedbacks will give you an idea of what you are getting into. 

selecting Right NetSuite Partner

Basic Knowledge About NetSuite

Make sure that they have the Basic Knowledge that they need to know about NetSuite. Choose only those who have this because that will make it easier for you to understand how much they know what they are getting into.

Leadership Quality

Whenever we choose someone to lead us through something, we all search for someone with leadership qualities. This leadership quality is also an important thing when it comes to choosing a partner for NetSuite.

Values & Concerns

Choose a partner who is concerned and also values your success rather than their profit. It will help you in doing your business reach heights.  

Expert & Specialists

While choosing a partner, choose one which has specialists who are well experienced. They will help you through almost anything. Some partners will even have about 100+ specialists, so choose them to be better for your business. 

Read More : Top 11 Considerations For Choosing A NetSuite Implementation Partner

How Safe Is My Data With NetSuite?

The data is stored in cloud-based software, and your data's security is no less than the security of money in your bank. Here's how NetSuite keeps your data safe and secure:

RBAC

RBAC is one of the best ways NetSuite makes sure that your data is secure. By using RBAC, you can give access to certain people only to specific functions and features. It will make sure that they won't misuse the authority given to them. 

Data Security with NetSuite

Restriction Of IP Addresses

While keeping IP address restrictions, you will restrict any unauthorized activities from different parts of the world. It will make sure that only certain people from specific locations are the only ones who can access NetSuite. 

Passwords 

NetSuite has specific rigorous ways some should form their password. It includes minimum length, and a specific complexity should be there, and also passwords will expire after some specific period.

Tracing The Activity

NetSuite traces the activities of a user profile, so you will know what all happened when you gave access at what time. It will make it easier to find out whether someone is misusing their given authority.  

Contact Our NetSuite Implementation Partner

Conclusion

Starting the use of NetSuite might feel a little complicated at first. The training and all may be a little lot to absorb all at once. But slowly, you will get used to NetSuite. Even though it might be hard at first to adapt to NetSuite, NetSuite will make sure that you are you and your business is doing well or not. NetSuite provides you with features that are easier to use even as a beginner. And sometimes, after you have used NetSuite, you will become such that you can't manage your business without NetSuite. 

If you are frustrated that other platform are not giving you the freedom to change and bend your features and function, stop being there and start using NetSuite as it will help you as a companion thought out the business years, be that be longer or shorter. NetSuite will also help you adapt to complex situations, which will later help you when your business becomes globalized. 

With that, we come to an end of this article. All those things said in this article are essential. Using this NetSuite Consultants Oracle NetSuite Guide, you will be able to take your business to new heights. If you choose any platform other than NetSuite, that's okay, but you will have to choose NetSuite to get very valued experience and support.

FAQ

The cost of the software decides the NetSuite pricing. As well as the cost of implementation. The cost of the software determines how many people from your company or organization will need access to NetSuite, the main functions required for your business, and the additional tools you will be adding. Based on these three things, the final price of your software gets validation. When you choose a consultant, choose one which is a qualified one. They will partner with you and help you in ways you want them to help you. These consultants will mostly be experts. When you choose a consultant, make sure that they have experience in the industry and not just faking it.

Yes, But there is no pressure that you should, but it would be better to hire a consultant. A NetSuite consultant is someone who is a very experienced person who knows everything about NetSuite. Due to technological advances, Businesses are changing one by one. It will cause the other businesses to go down eventually. So that this doesn't happen, you will need a consultant who can keep you updated on the changes and updating of NetSuite.

NetSuite mainly does two upgrades every year. But NetSuite ensures that at least two months before the up-gradation, you receive a copy of the NetSuite performances, including all the data. It will make sure that the up-gradation does not affect your customizations.

Why not? You can certainly link your website to NetSuite. If yours is a small business, then you make use of the NetSuite e-commerce module. You can easily integrate directly to your website as NetSuite comes with a wide variety of connectors.

NetSuite has a free portal for customers. None of your customers will have to pay anything to access it as it is free. Even your users will be able to log in and buy or make payments.

NetSuite manages multi-currencies. NetSuite has about 190+ currencies as well as exchange prices. If you use this in your business you will be able to reach globalization.

Of course, one can write and make reports without much struggle in NetSuite. There are about 200+ excellent reports; all you have to do is choose one and download it.

Yes, NetSuite records every payment. So you will be able to get the statement of every payment, and GST statements are also available. It will make it easier for you to manage your money.

As said earlier, NetSuite has about 100+ connectors accessible from 3rd party sites, which include Salesforce, Shopify, Squarespace, and many more such sites are available.

Of course, NetSuite is CRM capable; the NetSuite is the only one that provides CRM that offers a real-time view across the whole customer lifecycle.

One person can only use the NetSuite training seat purchased by a person. Only one person will have access to this training seat. If another person wants to use it, they will have to buy one training seat.