Choose the Right NetSuite License Option for Your Business

Every decision-maker in a business organization will have certain questions going through their mind when they decide to implement NetSuite Enterprise Resource Planning Software (ERP) in their organization. The most repeated questions among these are identified to be: 

• How much does NetSuite cost? 

• What is all about NetSuite licensing?

• How can I reduce NetSuite licensing costs? 

Many business executives have a misconception that ERP implementation is costly. In fact, the latest progress made in cloud technology has enabled NetSuite to offer affordable and adaptable cloud ERP software that is perfect for small to medium businesses. The basis is to choose the appropriate NetSuite license that suits your specific business requirements.  

This blog will give you an idea about how to maximize your NetSuite analysis and procuring experience. Selecting a suitable NetSuite license for a business can feel complicated. It is vital not to get detained at the analysis stage. Therefore, here explains numerous NetSuite license choices available and the kinds of businesses each of them suits.     

Kinds of NetSuite Licenses and Suites

Companies can opt for multiple kinds of NetSuite licenses and suites depending on their vertical, functional requirements, size, number of customers, and requirements for particular modules inside the NetSuite ERP system. NetSuite offers different prices that businesses can opt for depending on their size, specs and budget.   

For the regular and top levels, organizations also choose an edition particular to their niche or industry. These industries can be bulk supplying, services, production, retail, software, food and beverage, advertising, media, and publishing (AMP), health and beauty, garments, fashion, and appliances, restaurant and hospitality, campus stores, social impact, and financials first.  

NetSuite License Editions

Every edition contains the capabilities and modules required for a specific industry, but enterprises can also include any other required modules.  

NetSuite Financial Management

It mainly includes the following NetSuite ERP Standard features: 

• General Ledger 

• Accounts Receivable

• Accounts Payable

• Acceptance of Credit Cards, ACH, Electronic Fund Transfer 

• Bank Management and Appeasement 

• Different-Currency and Language 

• Item & (basic) Inventory Management 

• Project Management Order Management

• Purchasing 

• Employee Center (Time & Expense Management)

NetSuite Limited/Starter Edition: The limited or starter license is acquirable for small businesses that getting emerged and seeking the most affordable choice. This edition under standard NetSuite licensing is perfect for firms that own a single legal entity. Companies with a maximum of 10 user licenses and not more than 50 employees can make advantage of the starter edition to progress and scale.  

NetSuite Mid-Market Edition: This edition is a perfect fit for organizations that requires more than 10 users and lets up to 30 users. As well as firms that have two or more legal entities can choose this edition. The mid-market edition facilitates the firms that require the potential to accomplish integrated financial reports over numerous currencies and languages. 

NetSuite Premium/Enterprise Edition: The Premium and Enterprise Editions are developed for firms that require more than 100 and 1000 users respectively.  

Each of the limited, mid-market, premium and enterprise editions have the following standard features of NetSuite CRM and NetSuite ERP. The NetSuite CRM standard features consist of marketing automation, case management, sales force automation (SFA), and partner relationship management. 

User-Specific NetSuite License 

Full-User License: NetSuite applications gain full access through a full-user license. It is more beneficial for CFOs, sales managers, and other users who require a higher level of NetSuite access. 

Limited-user License: This license is mostly helpful for workers executing mundane tasks in a project, including time-saving, expenditure reporting, documentation, purchase order requests, data entry, vendor bill and viewing inventory. 

How to Get NetSuite Licensing? 

The majority of NetSuite Licensing modules can be added at any time while your NetSuite subscription is active. On the off chance that your company has more than one legal division that necessitates different financials in different countries, you will need to approve NetSuite OneWorld from the start. This includes organization exchange the board and financial solidifications. 

Our knowledgeable experts can assist you with NetSuite licensing and obtaining the appropriate version according to your company's size and needs. Furthermore, we have aided several businesses with the proper installation, integration, training, continuous audits, go-live, and post-live support in order to enable them to accomplish their vision. 

An outstanding feature of NetSuite Licensing is that its open architecture and modular license strategy enable business organizations to add and remove modules as needed. 

NetSuite Add-ons 

NetSuite offers an industry-specific capability and add-ons that businesses can incorporate in their license and implementation. Extra features address complicated business operations including financial reporting and auditing, project management, and inventory control.   

Organizations can opt from multiple varieties of NetSuite license choices that will let them customize applications and modules to suit their industry better.  

Choose a NetSuite License Option that Scales with Your Business

Determining whether your company is the correct size for an ERP system can be difficult. As a result, you ought to think about entrusting the financial destiny of your business to capable hands. Jobin & Jismi can assist you to find the right NetSuite licensing for your business requirements and suggest how to grow your business using NetSuite.  

We can Help you Better!

We have created a number of NetSuite solutions to deal with the issues and obstructions faced by our clients in their businesses. We are delighted to give assistance to you too. Get better solutions beyond your expectations. Connect with us today.