18 Jan, 2022

Why Are Scaling Businesses Moving to NetSuite?

Modern enterprises require modern solutions. Growing businesses require a cost-effective and advanced solution that will drive their business to profits. Having a future-ready business solution is a must-have for any rapidly growing company. NetSuite is becoming a go-to for a large number of mid-sized businesses because of its ability to share real-time data and business visibility across all operational areas. 

According to estimates that NetSuite shared in 2021, 

1. NetSuite had a growth of 24% year over year.

2. NetSuite acquired over 24,000 customers.

3. With 542 partners and 579 SuiteApps, NetSuite stands tall in the cloud ERP industry.

4. NetSuite SuiteCommerce saw a 38% increase in its transaction volume. 

NetSuite is getting steady traction across all major areas like retail, manufacturing, consumer packaged goods, and technology. The Professional Services sector comprises 31.1% and forms NetSuite’s largest customer base in 2021. 

Why NetSuite?

Make Smarter, Faster decisions with NetSuite 

Oracle NetSuite is building next-generation business solutions and companies are quick to recognize the product. With NetSuite, you have a 360⁰ view of your operations and customers in a single database in a real-time system. NetSuite platform offers you a system powerful enough to combine all your operational areas across the world, provides accessibility to deal with multiple languages and currencies - all in one safe system. Importantly NetSuite provides an intuitive and scalable solution that can help drive all your business back-office operations in a seamless manner. Additionally, add key aspects like CRM, Financials, or eCommerce when the time is right for your company. 

Why Do Fast-Growing Businesses Choose NetSuite?

Businesses will either adopt cloud now and scale or wait till it's too late. The future of enterprises is in the cloud and the exponential growth in cloud-based platforms backs our claim. NetSuite is at the forefront of cloud-based ERP solutions ever since the inception of the cloud and now it excels in multiple verticals of ERP, CRM and eCommerce, and financials. NetSuite is now accessible from anywhere 24/7. For scaling businesses, NetSuite is ideal because of its pricing which is on a per-user basis. 

Top 7 Reasons to Choose NetSuite

1. Real-Time Insights Are Game-Changers

Businesses often face the dilemma of outgrowing their siloed business softwares like QuickBooks. This happens often when business operations start getting complicated and financial projections through excels and spreadsheets are not enough to make critical decisions. This is where a cloud ERP like NetSuite feels accurate, NetSuite offers seamless access to gigantic financial data and eliminates paperwork by pulling data from a centralized database. This simplifies a series of processes from order to payment making one-click sales orders a reality.

2. Revenue Recognition Made Easy

Revenue recognitions are made easy with NetSuite with its automated revenue scheduling, allocation, and reporting.  NetSuite creates a space for revenue recognition rules for every product or service you permit, then easily links them to individual line items in customer contracts.

3. Customize for Productivity

Looking to build user dashboards that offer key insights to your business executives, NetSuite offers highly customizable user-specific dashboards that provide insight into all key aspects of the business.

4. Scale as You Build Methodology

One of the key features of NetSuite is its cloud-based architecture that offers scalability. Adding systems along the way as your business grows is ideal for companies, Netsuite gives them a head start and a mechanism that even the coming generations can build on. NetSuite became the go-to ERP system for 3 reasons - Seamless implementation, world-class functionality, and rapid scalability. 

5. Security Matters

NetSuite offers cloud-based storage, meaning any data stored is protected by layers of security. This also eliminates the chances of data loss due to natural calamities as it is not stored within the company premises. 

6. Future Is Data-Centric

Data analysis is no more secret and having the right data sets at disposal will help predict future trends in performance and improve decision making. Strategic planning is now backed by data and NetSuite steps in with the ability to collect data from various sources like sales, shipping, marketing, and operational departments. This helps the decision-makers to plan and account with respect to time and costs.

7. Handle Multiple Currencies and Entities

Most accounting softwares are good at handling finances but of a single entity. The possibility of bringing in multiple currencies or tax structures is often complex and time-consuming for standalone accounting software. Look for a consolidated NetSuite OneWorld on the other hand is capable of handling multiple currencies, entities, and languages seamlessly. 

To sum it up, NetSuite is fastly becoming the preferred choice of industries across the globe because of its smooth functionality and endless customization possibilities. Organizations with NetSuite have a strong edge in this competitive market as they no longer have version locks or maintenance costs. Embrace the clouds now. 

We are NetSuite Alliance partners and we have NetSuite certified developers and consultants who have experience in dealing with global clients and follow industry best practices.