17 Jul, 2020

Pros & Cons of NetSuite ERP 2020

Netsuite is a cloud-based ERP solution. It is a unified platform that helps businesses to deal with diverse business actions efficiently, which includes ERP functions, CRM tools, and eCommerce capabilities in a full swing. Even being all the strengths that NetSuite possesses, there is some weakness as it is always in the process of growing and maturing.

Netsuite provides services to diverse industries across the globe and helps them grow and flourish in a rightful manner.

If you are rigorously searching for a system to accommodate all your business worries this article will cater you with sufficient information. Understanding the strengths and weaknesses may redefine your knowledge on a particular system.

Here we are evaluating the pros and cons of Netsuite ERP 2020 because we help you to make the right choice.

Pros of NetSuite

Strengths determine business success. New media gives you plenty of articles talking about Netsuite ERP. So here we are describing some exceptional functions.

1. Customizations

The primary feature of Netsuite is its moldability. It can be customized according to the needs of the businesses. Users can easily customize their forms, fields, and records very easily. With Netsuite customizations, organizations can build new functionalities, workflows, and process business demands accordingly to the exact business needs of the users.

2. Flexibility

Netsuite is a highly flexible system. It can be integrated with any other third party system very easily. With Netsuite, Integrations can be done very easily with great precision and accuracy. Integrations enhance business performance and add great benefits to the business.

3. Real-Time Data Visibility

Users will get a 360-degree customer view with Netsuite. With this feature, the business can get a real track on their customers and access the same from anywhere. The business can record and analyze the basic contact information to purchase history and brand preferences,  help to get a better understanding of the  customer behavior, and can make informed business decisions in the future.

4. Automation

Netsuite can automate all the functions associated with the business. It will increase the effectiveness of business processes and promising results.

5. Industry-Specific Features

Netsuite keeps additional modules just created according to the industry-specific demands of the customers. The purchase of these additional modules assists to run the business more efficiently without much burden on customizations.

6. Process Efficiency

NetSuite is capable of providing comprehensive measures to integrate different solutions to automate business processes.  Netsuite allows order management, multiple revenue streams, financial consolidations, and many more in a unified platform.  It is proven that Netsuite helps to improve sales productivity and revenue generation substantially.

7. Better Decision Making

With Netsuite ERP, companies can make informed decisions. Netsuite enables real-time data tracking and accessing helps to make quick and accurate decisions. Apart from this with the SuiteAnalytics feature,  companies can generate reports and analyze them in a deeper way and make decisions to forecast future development.

8. Streamlined Billing

NetSuite ERP allows streamlining billing. It functions across subscription, product, usage, and services. It can automate the following processes: order-to-cash process, revenue recognition via multiple channels by collecting real-time information. Netsuite allows you to generate, transmit, and collect invoices across different streams.

9. Revenue Recognition

NetSuite can effectively manage complex revenue recognition processes. They can address and solve complex revenue recognition challenges with ongoing compliance easily. This comprehensive solution can avoid multiple entries and manual intervention during the revenue recognition process.

10. Global Business Management

with NetSuite OneWorld, you can run your business globally. This function ensures seamless multiple currency handling and with automation along with business growth.

Cons of Netsuite

There is nothing called perfect. Every coin has two sides and every system has cons too. Netsuite possesses some weaknesses. However, these weaknesses can be tackled effectively and converted into strengths. So let's get into understanding the same.

1. Customizations Require Proper Maintenance and Constant Support

The customization process is highly sophisticated. This demands for proper maintenance and support from Netsuite service providers. NetSuite partners make sure that it does not become a burden for you. They provide a source of additional support without any delay. Usual customizations wouldn't be involved in this. This only happens while the company looks for a more complex and sophisticated set of customizations.

2. Subscription cost

As the system resides on the cloud platform, Netsuite is having yearly subscription patterns for the number of users and accounts. As the number of users and accounts increases which also causes the increase of ERP maintenance cost. However, compared to the future results and expenses on conventional methods this expenditure is worth investing.

3. Additional Payments for Advanced Modules and SuiteApps

Netsuite is having two feature enhancements per year. If a business organization is looking for the most advanced functionalities they can go for SuiteApps. This can give extra mileage for their business actions. Since these are add ons, the additional purchases of specific modules require extra investment.

Even considering all the weaknesses that a Netsuite ERP possesses, it still maintains the leading positions in providing full-fledged ERP solutions for enterprises. And always help to take the businesses to the next level. If you are looking for a higher growth perspective for your firm, we would love to suggest Netsuite ERP, you can make wonders and business growth Netsuite ERP.

If you wish for better business performance, its high time you switch to NetSuite ERP. Jobin & Jismi can assist you in the NetSuite Implementation process, even if you are in a different part of the world. We have excellent experts tirelessly working to bring better solutions to enterprises with NetSuite. For more details drop your query to contactus@jobinandjismi.com

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