13 Jul, 2022

Scope of NetSuite ERP in India

The worldwide demand for Oracle NetSuite Enterprise Resource Planning (ERP) software is rising every day. The software will become a key player in the Indian market with its number of users in the coming years. Many establishments prefer it because of its loaded features and latest functionalities.     

According to various research studies, NetSuite has entered the global marketplace, possessing more than 30,000 customers. Currently, the solution is establishing its presence in the Indian market.

NetSuite in a Nutshell

This is a cloud-based business management ERP software used by more than 31,000 rapidly growing businesses over the world. It contains a suite of applications helping organizations automate business processes. Its features help business heads understand the functioning of various processes and boosts efficiency. 

It also helps firms minimize cost. Its adaptability and scalability make NetSuite an ideal choice for businesses of all sizes, from startups to large enterprises.   

Many emerging businesses are preferring NetSuite to make their complex business processes quicker at reduced costs. It also minimizes the risk factor. The platform constitutes numerous characteristics that necessitate the Indian market to acquire its license for greater revenue.

Why NetSuite Stands Out:

Single, Unified ERP Platform 

NetSuite is a single, combined ERP platform consisting of various processes. It incorporates the whole business operations, including sales orders, human resources, customer relationships, shipping, financials, data processing, and more.

Instantaneous Visibility

NetSuite operates on a cloud network, a significant feature that facilitates the access, processing, and handling of significant data. This ERP helps business heads obtain sales data and monitor sales executives’ operations, orders, and shipping information. The solution also develops real-time reports or metrics for better decision-making.

Key Capabilities  

Streamlined Financial Management:

NetSuite ERP excels in financial management, with capabilities like real-time financial reporting, automatic billing, and intelligent insights. For Indian businesses navigating complex tax structures, NetSuite provides a seamless solution, ensuring compliance and minimizing risks. NetSuite enables you to:   

Automate workflows, reduce errors and meet requirements with ease.   

Assess your financial health instantly with data-driven insights at your fingertips.   

Automate tasks, free up resources, and focus on strategic goals.   

Manage invoices and payments effectively to ensure seamless financial operations.  

Adapt to expansion by using a platform that bends with your business.  

Efficient Supply Chain Management:

Managing the supply chain can be difficult in a country as diverse as India. NetSuite ERP improves supply chain operations by enabling visibility and control over inventory, order fulfillment, and procurement. This ensures timely delivery and customer satisfaction.  

Monitor the entire supply chain in real time, from raw materials to finished goods.  

With AI-powered tools, you can accurately forecast and ensure you have the right inventory at the right time.   

Automate purchase orders, negotiate with vendors, and track real-time deliveries.  

Intelligent inventory control prevents stockouts and overstocking.  

Track items easily, optimize picking and packing, and increase fulfillment speed.  

Unified Customer Relationship Management (CRM):

Building and maintaining strong customer relationships is a priority for Indian businesses. NetSuite's CRM module facilitates the effective management of leads, sales, and customer support, fostering improved communication and enhancing the overall customer experience. NetSuite goes beyond siloed CRM solutions, providing a single platform that:  

Combine data from all touchpoints, including sales interactions, marketing campaigns, and support tickets, into a single, 360-degree customer view.   

Improve team efficiency by streamlining sales processes, automating marketing campaigns, and providing rapid support.   

Leverage rich customer insights to deliver personalized interactions and strengthen relationships.   

Utilize customer data to identify profitable segments, optimize marketing, and forecast future needs.  

Improved lead management and sales forecasting enable speedier deal closure.    

Human Capital Management (HCM):

NetSuite ERP goes beyond traditional ERP systems by incorporating a powerful Human Capital Management module. This is beneficial for Indian businesses in addressing talent management, payroll processing, and labor law compliance. Streamline the recruitment process, automate onboarding, and ensure a seamless start for new employees.  

With user-friendly performance management tools, businesses can set goals, track progress, and provide continuous feedback. Simplify payroll processes, manage complex benefits schemes, and ensure local regulatory compliance. Track employee hours precisely, optimize scheduling, and reduce administrative challenges. NetSuite enables employees to manage their information and submit requests, resulting in a more dynamic and efficient workplace.  

Business Intelligence and Reporting:

The ability to make data-driven decisions is critical to success. NetSuite ERP includes powerful analytics and reporting tools, enabling businesses to acquire meaningful insights into their operations, finances, and customer interactions. Its robust BI suite provides:   

Access to up-to-date information about your entire business, from financials and sales to inventory and customer interactions.  

Reduce reliance on third-party BI tools by leveraging a single platform for all your data requirements.   

Pre-built dashboards and reports based on your industry and role. This provides rapid access to key performance indicators (KPIs).  

Drill down into your data, build personalized dashboards, and tailor reports to your exact requirements.  

Use advanced analytics tools to identify trends, forecast future events, and discover hidden patterns in your data.   

How NetSuite Helped Customers:

Automation in Operational Practices 

Automating the operational practices reduces organizational risks. NetSuite prevents paperwork or any other manual activities allowing business processes to run with enhanced speed. This also mitigates physical labor and processing costs, and improves capability.

Improved Business Process  

It offers a comprehensive package for all organizational requirements. Businesses can customize their NetSuite strategy to meet specific procedures. By doing so, they enhance operational efficiency. Businesses also have the privilege to add enhanced features to their regular NetSuite plan to implement contemporary procedures.

Unlimited System Connectivity 

Your enterprise is active and always expanding. It comes with various possibilities for integrating your existing system or software with NetSuite to extend its capabilities. Your organization will eventually need to implement sophisticated capabilities to handle your improved organizational operations.

Localization for Seamless Operation  

NetSuite transcends language barriers with its robust localization features. It allows firms to seamlessly adapt their ERP operations across different geographies.  

NetSuite goes beyond translation and provides genuine localization for India. It simplifies compliance by managing GST computations and filing returns with ease. It also provides reports that are per MCA and RBI requirements.  

Additionally, regional language support, such as Hindi and Tamil, empowers your workforce and promotes collaboration across varied regions. Think of it as having a built-in awareness of the Indian business scene, ready to streamline processes and help you expand.   

Customer Engaging   

Customer administration is no longer a scary endeavor. NetSuite assists you to manage your sales and customer data more efficiently and effectively. To achieve increased consumer interaction and better results, NetSuite SuiteApp aids. SuiteApp allows you to engage an increasing number of customers and clients, achieving more sustainable outcomes.

Cloud ERP needs to meet specific workplace requirements, and expanding businesses cannot thrive without NetSuite ERP. Its growing demand ensures that NetSuite has a great potential in the Indian market. Embrace the power of NetSuite ERP and confidently navigate the path to long-term growth.  

Are you seeking to streamline your business operations with NetSuite? If so, Jobin & Jismi is your right choice. Reach out to us for any NetSuite-related inquiries.