Why NetSuite Is The Best ERP Solution For Your Business?

When your business starts growing and you look to expand to new locations, you must be wondering how to manage sales teams & channels. How to improve back-office efficiency? How to ensure high levels of service for customers? Furthermore, you also need to assess whether your existing business applications for accounting, sales, service and other functions will effectively support your growing business. Most of the businesses would have started with ad hoc, standalone applications that need to be upgraded to support continued growth. An integrated cloud solution like NetSuite can help you improve business performance while driving profitability. Available as true SaaS, NetSuite ERP not only handle one part of your business, like your financials and accounting or only the sales and CRM activity but bring together all core business functions (financial, revenue, fixed assets, order management, billing, inventory, CRM & ecommerce), enabling you to leverage the benefits of single-source data.

Single Source – If you’re using multiple systems, then users may still be forced to navigate multiple applications and data repositories of data for their everyday activities—slowing down processes and reducing the agility the company needs to grow. NetSuite brings everything on single repository i.e. ERP, CRM, HR, ecommerce, warehouse management, project management and customer service applications. Single repository for real-time reporting enables everyone to see a shared view of the business. 

Ownership Costs – Unlike On-premise ERP systems that require large upfront and ongoing investments to purchase and manage the software and the related hardware, servers, and facilities, NetSuite is available as SaaS (Software-as-a-Service). Initial costs are typically much lower as IT infrastructure is maintained by Oracle. With pay-as-you-go subscription model, you can make cash flow management and planning much easier.

System Upgrades and Enhancements – When you use legacy system/ on-premise ERP, customisations are tied to your current software deployment and are not easy to re-implement with future versions. When you update and enhance the product, your previously implemented customisations will be wiped out and you need to customize again. In NetSuite, product enhancements are rolled out painlessly to your solution without breaking your previously implemented customisations.

Integration Capabilities – NetSuite uses an open API that allows communication between other systems to import additional data, automatically update information from outside NetSuite, and more. So, you can integrate NetSuite with any-other industry-specific application.

Comparing NetSuite Cloud ERP with On-Premise ERP

 

• 1.       On-premise ERP solutions are deployed locally at your own servers (your own company’s hardware is used) and are maintained by your IT staff. While Cloud ERP Solutions like NetSuite are hosted in Oracle Cloud and delivered as SaaS (Software-as-a-Service). With this type of deployment, a company's ERP software and its associated data are managed centrally (in the Internet "cloud") by the ERP vendor “Oracle”.

• 2.       Since you need to purchase the related hardware, servers, and facilities, On-premise ERP systems usually require large upfront costs. Furthermore, you need to invest in IT staff who ensures that your system is up-and-running when you need it. Initial costs are typically much lower in case of NetSuite Cloud ERP since you only require computer's internet connection to access it. All infrastructure is maintained by Oracle. They ensure that system is always running, data is secure, and product enhancements are rolled out painlessly without breaking your previously implemented customizations.

• 3.  In case of on-premise solution, customizations are tied to your current software deployment and are not easy to re-implement with future versions. Once the new product updates and enhancements are rolled out, your previously implemented customizations will be wiped out when you upgrade. However, in cloud ERP solutions like NetSuite, previously implemented customizations and integrations automatically carry forward when the solution is updated without additional investment.

• 4.  If there is a spike in your business, cloud ERP automatically adjusts and dynamically provisions additional resources to handle the surge. NetSuite commits to 99.5% availability for its customers, has 99.98% average uptime performance.

• 5.       Since NetSuite is available as SaaS (Software-as-a-Service), you don’t need to waste time in procuring and installing IT infrastructure. Cloud ERP deployments usually take 3-6 months compared to the 12 months that it typically takes to implement an on-premise solution.

Concluding Remarks

If you’re looking for Cloud-Based ERP Software Solution, then NetSuite is the best option available. As the leading NetSuite ERP Consultant, we can help you in licensing, implementation, customization, integration & support of ERP software.

How Can Healthcare Industry Have Benefits from NetSuite ERP?

The constantly changing healthcare landscape has brought many organizations dealing across such an industry into complexity. Managing all the operations meant for supporting the organization’s health has become quite tedious and time-consuming. Moreover, the industry is constantly facing regulatory changes and in such cases, adapting to the dynamic environment can go smoothly with an effective cloud-based ERP software solution. Here, NetSuite ERP has come with the capabilities requisite. However, one should go through the elemental capabilities before leveraging this inventive application to leave no space for confusion.

 

NetSuite Cloud ERP delivers the following features to revive healthcare industry operations:

Financials and Accounting

With the deployment of NetSuite ERP Software, administrators can avail of effective financial management comprehensive financial capabilities to revamp the entire accounting system within the organization. This robust functionality is specifically engineered to integrate with the back-office operations, sales, and service processes with the least impediments. By leveraging this efficient financial management solution, administrators can track in real-time, manage reports, and perform hassle-free auditing.

Integrated Budgeting and Forecasting

NetSuite ERP software solutions offer a collaborative budgeting and planning capabilities. Such inventive functionality helps administrators solve ‘what-if’ efficiently. Moreover, such scalable budgeting and forecasting capability unifies with core financials to steer a strategic approach, better planning, and execute at the best level.

Manufacturing Resource Planning

Pharmaceuticals, biotech, and other organizations dealing across the healthcare industry can make the most of this the functionality offered by NetSuite ERP solutions. This robust capability allows businesses to synchronize right from the shop floor to the top floor with the least obstructions. It enables you to manage all the key processes regarding manufacturing resource planning from a single platform and take advantage of NetSuite's exclusive leaner manufacturing production processes and enhanced supply chain management to drive scalability.

Unified Global Business Management

Healthcare organizations can have greater operational efficiency by leveraging the core functionalities delivered by NetSuite ERP software solutions. With such capabilities, one can manage businesses sitting at any location across the globe through mobile devices and gain complete visibility across all the activities. This efficient cloud-native ERP solution allows administrators to cater to multi-national and multi-company of global enterprises. Also, you can conduct e-commerce with multi-language, multi-currency, and multi-brand stores from a single system. Moreover, it offers real-time financial consolidation, the capability to adjust currency & taxation rules, and meet all the reporting requirements.  

Customer Relationship Management

With NetSuite ERP, administrators at healthcare organizations can have a single repository of customer interaction. Interestingly, they can oversee their customers in both B2B and B2C environments that ultimately help organizations deliver superior service quality.

Benefits of leveraging NetSuite ERP software for the healthcare industry:

With customizable and configurable dashboards and real-time access to key data, business personnel can have improved visibility to make timely decisions.

 With NetSuite, healthcare businesses can adapt to the changing and challenging landscape efficiently. It allows you to configure workflows, manage to report, and analyze information to meet unique industry demands

  You can streamline reporting and compliance with NetSuite as it offers support for internal controls and delivers accurate reporting with audit trails.

Along with offering such robust capabilities, NetSuite ERP software solution helps healthcare businesses build relationships with customers. Offering them access to customer data, processes, devices, and conversations on a single, integrated platform, simplifies the way healthcare personnel cater to their customers’ requirements. Moreover, an efficient cloud-based solution can help make healthcare quite efficient by connecting all systems, including external monitors, EMR, blood banks, and other devices as well.

On a final note, to gain a competitive advantage and drive substantial business growth, leveraging the core capabilities along with choosing the right partner turns to be an intelligent move.

To get more details on NetSuite for Healthcare, you can send an email to info@inoday.com