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ERP System: NetSuite Report


Abstract

In order to run business operations effectively, it is important to consider using management information systems. Indeed, many organizations use these systems to boost their production and efficiency. These systems have also made many companies generate more revenues. There are many applications to choose from, but users opt for those that suit their needs.

This paper discusses the features of NetSuite and the importance of this software in running business operations. It also discusses the role of the software in helping enterprises manage their employee database, run the supply chain segment for financial accountability. Finally, the paper discusses are the benefits of NetSuite as well its strengths and weaknesses.

Introduction

Since the development of cloud computing, many companies across the world have found it one of the most important tools business operations. This technology has enabled the creation of ERP systems, which are fundamental to business operations. ERP systems help in the streamlining of business operations using a single integrated system.

For example, large organizations with many departments can integrate them into single unit to enhance service delivery and promote accountability. ERP systems are also important as they enable users to cut the costs incurred in amalgamation, implementation, and maintenance costs of multiple programs.

So far, many companies develop management information systems and sell them to companies and organizations. One company that is a leader in business management solutions is NetSuite Corporation. This firm develops enterprise resource planning (ERP) systems and then sells them to interested users. Clients who want to buy this software do not need to pay for its delivery.

They can just download it online by first paying subscription fee, also known as introductory fee. ERP systems from NetSuite Inc are easily accessible, meaning that users can get them within the shortest time possible by paying the introductory fee and then downloading (NetSuite Inc, 2012).

NetSuite

Currently, there are over 10,000 companies across 100 countries that use NetSuite Inc suites to carry out business operations. These suites come in different varieties and helps users to do their operations effectively and efficiently. For instance, examples of NetSuite ERP system include business financial model, Ecommerce and personal service automation, which are common operations in almost business environments.

Additionally, NutSuite is among the best customer relationship platforms that are pivotal for business growth and success. Thus, with ERP systems that perform multiple operations on a single integrated platform, will probably improve accountability and efficiency in business operations.

NetSuite has many features that help companies manage data, reports and other services easily. For instance, the suite script feature allows users to do customization and virtualization thus, enabling users to check growth trends. The sales platform provides clients with enterprise-wide views via much functionality that automate not only the operations of a company, but also nurture and enhance customer relationship schemes.

In this way, it is easier to meet the needs of many organizations that may offer return for investment. For example, NetSuite enables integration of all office activities into a single platform such as employee payroll, business-tracking inventories and desk-review activities. Through this suite, it is also possible to offer efficient customer services and carry out order management activities.

The Ecommerce model of NetSuite allows users to do the complicated Ecommerce activities at ease. In other words, NetSuite offers solutions to challenges facing companies by deploying the necessary applications that the user may integrate together with other available applications and enhance operations (Epiphany Inc, 2012).

The continued ease of Internet access and the development of other infrastructure is good news to users who want to use NetSuite in managing their business operations. As discussed earlier on, users may use it over the Internet and download it after paying introduction fee.

NetSuite is important software because with the ever-rising consumer market, it provides a secure environment where users may comfortably execute applications and analyze data at ease. Additionally, NetSuite cloud computing platform has features that offer users real-time information on a several business performance matrices, thus helping them to report, analyze, and plan their modules in an integrated and habitual way.

The financial management suite of NetSuite is among the most proficient suites characterized by automatic order management progressions in addition to end-to-end supply chain administration. Additionally, this suite has a user-friendly employee management model that is easy to monitor productivity levels of every employee. NetSuite also has another feature known as the comprehensive accounting functionality.

Through this feature, users may do activities such as invoicing, replying purchase orders and expense management analysis. Furthermore, this tool enables users to access other financial and customizable reports that may be of help to the company.

The comprehensive accounting functionality feature also enables users to do fixed asset management activities, for example, automated allocations and end of period processes (NetSuite Inc, 2013).

Remarkably, an integrated supply chain management helps business enterprise firms reduce expenses on goods and services and enable clients to access useful information, for example, accounts payable data, pricing, and purchasing orders. Netsuite offers a myriad of options for companies to choose and apply in their businesses due these features.

With NetSuite, users are able to integrate and automate fundamental business processes that fit their desires and budgets. Undoubtedly, Netsuite is comprehensive management information system that enables not only effortless customization, but also fast utilization.

Most firms that use NetSuite have reported decrease of operations costs, increased employee productivity, reduced information technology costs, and simplified order management.

Targeted users

As discussed above, many companies use NetSuite in their business operations. According to NetSuite Inc, there are over 130 firms using this software and spread across the globe, which will probably improve business operations. The company goes on to report that, although some companies prefer NetSuite programs such as NetSuite SRP and OpenAir, actually the greatest percentage (61%) prefer NetSuite.

Of course, most users are Americans followed by those from United Kingdom and Asian countries such as Hong Kong and China. Companies such as Cynergi that uses NetSuite in their business operations have reported a reduction in several of hours the sales team used to market their services by 50 percent.

Many companies continue to adopt this software to improve their management operations. There is also undated risk management and reduced Ecommerce expenditures for those companies that use NetSuite in their operations (NetSuite Inc, 2012).

NetSuite enables users to do all business operations on a single integrated platform. This leads to the reduction of the time used in processing transactions, and instead devotes that time into performing other useful business activities.

The idea of cutting down the cost of Ecommerce makes NetSuite efficient ERP software for business operations. Additionally, to monitor company logistics effectively, NetSuite is readily available and companies may adopt it to solve their logistical challenges.

Strengths

Technology is never static and each day, experts continue to come up with technologies that improve not only service delivery, but also the change the world. Although these technologies have proved to be efficient and offer solutions to different challenges facing humankind, systems have their own strengths and weaknesses.

Just as any other technology, business technologies also have strengths and weaknesses no matter how efficient systems might look. Thus, going by this analogy, we expect NetSuite to have strengths and weaknesses too.

Firstly, NetSuite is efficient in carrying out integrated front office operations. Notably, users may use this system to perform many business operations. As discussed above, NetSuite enables integration of all office activities into a single platform. For example, users may use NetSuite to create and monitor an employee payroll, do business-tracking inventories and desk-review activities.

Additionally, users can use NetSuite in doing customer and order management activities. It is also possible to do sales and accounting activities using NetSuite. Clearly, users may use single integrated NetSuite to carry out many business activities.

Undoubtedly, with NetSuite, it is possible to trim or even avoid large volumes of data and problems associated with compatibility that are normally evident in programs that performs single applications. Additionally, since NetSuite is easily accessible over the internet, users incur fewer costs in installing, running and maintaining it as compared to multiple programs (NetSuite Inc, 2012).

Secondly, NetSuite allow users to do the ever-difficult Ecommerce activities at ease. The Ecommerce add-on enables users to carry out on-line transactions at ease and serve customers in a faster way. In principle, NetSuite has the ability to do multiple functions including web hosting and execute other applications as well.

For instance, a company that uses NetSuite may develop an advertising website where shoppers view different varieties of products and services online. Companies may even make on-line purchases and wait for the company to deliver their purchases.

Additionally, with NetSuite, a company may create many websites even in different languages and avoid hiring people who will translate for customers. Consequently, this reduces expenditures, promotes efficiency and accountability.

Lastly, the name itself has given NetSuite certain amount of recognition making it among the respected brands. This is the reason why many companies use this system in managing business operations. Although the system is efficient up to a certain level, it will probably guarantee efficient business operations.

Therefore, NetSuite is a successful brand that has helped many companies customize options that are relevant to business operations and growth.

Weaknesses

Although NetSuite performs various beneficial functions, it has a few challenges. These challenges, weaknesses, are under three main considerations: functionality, flexibility, and affordability. These three domains are fundamental when making a decision of the system to buy. There is no doubt that micro, small, medium and even large companies use NetSuite in managing their business operations.

However, many large corporate organizations do not use NetSuite because of certain weaknesses. To start with, NetSuite lacks many standard features that large organizations should want to use in their business operations. NetSuite features are for companies that have already established themselves and do not require any form of introduction in the market.

In a highly competitive consumer market, companies always strive to be relevant. Thus, any company that is sourcing a cloud-based system always takes functionality as a fundamental component of consideration. Users who have purchased NetSuite and applied it in their business operations have found out that the software lacks some features, or the available features fail to do the given instructions.

This functionality weakness makes large organizations opt for other ERP systems. Additionally, users have been unable to do sophisticated allotment and inventory channels using the distribution management model. In order words, big companies or companies that expand rapidly cannot carry out some business operations NetSuite, as it does not meet their needs.

Companies that expand faster have spent more money on consulting in line with specific customization needs that are out of reach when using NetSuite. Another weakness associated with Netsuite is flexibility challenges. This software is for companies that do not grow and exceed the limits of its operations.

The designers of this software had only one idea in their mind, and that is to keep IT expenditures as low as possible. It therefore does not consider that one day a company might expand due to huge accumulated revenue. Since the NetSuite works within a certain limit, an increase in the amount of information or data renders it unwanted (Shifley, 2008).

The final weakness in this discussion is affordability. In this case, users must consider the expenditures incurred in implementing or servicing NetSuite. Although introductory costs might be affordable, it does not mean that servicing costs will remain low when the company starts to receive large junks of data.

For companies that grow at a faster rate, there are additional expenditures incurred on consulting and performing other services.

Conclusion

NetSuite is undoubtedly among the best business management information system. Many users will agree that the software is efficient up to a certain limit. Indeed, NetSuite is a single integrated system, which can do numerous business tasks that reduce risks, reduce expenditures, and promote efficiency and accountability within a company.

Nonetheless, issues related to affordability, flexibility and functionality all pose serious challenges in large organizations.

Reference List

. (2012). NetSuite features. Web.

. (2012). NetSuite for Ecommerce companies. Web.

NetSuite Inc. (2013). NetSuite. Web.

Shifley, M. (2008). . Web.

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IvyPanda. (2019, July 31). ERP System: NetSuite. Retrieved from https://ivypanda.com/essays/erp-system-netsuite-report/

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"ERP System: NetSuite." IvyPanda, 31 July 2019, ivypanda.com/essays/erp-system-netsuite-report/.

1. IvyPanda. "ERP System: NetSuite." July 31, 2019. https://ivypanda.com/essays/erp-system-netsuite-report/.


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IvyPanda. "ERP System: NetSuite." July 31, 2019. https://ivypanda.com/essays/erp-system-netsuite-report/.

References

IvyPanda. 2019. "ERP System: NetSuite." July 31, 2019. https://ivypanda.com/essays/erp-system-netsuite-report/.

References

IvyPanda. (2019) 'ERP System: NetSuite'. 31 July.

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