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How Oracle NetSuite is Engineering Success Through Every Step of Growth for your Business inoday
July 29, 2019
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NetSuite is a cloud-based Enterprise Resource Planning (ERP) solution that enables organizations to streamline operations while getting real time visibility of data to make better and more informed decisions. With core
financial
management
capabilities
alongside
inventory,
supply
chain
and
warehouse
management functionalities, NetSuite enables organizations to manage key business processes while helping them to access critical business data any time, from anywhere. Whether you are small business or large enterprise, NetSuite helps in maximizing agility while unleashing innovation and growth. Built-in business intelligence, machine learning based predictive analytics, real time reports and useful insights of NetSuite enable organizations to easily identify and address the issues.
NetSuite doesn’t require hardware, no recurring software maintenance costs and up-front per user license fees, enabling small and medium size organizations with tight IT budget to leverage digital transform without spending much in maintaining and managing servers, hardware, software, and even in the IT team. Furthermore, the modular approach in NetSuite enables organizations to start with the functionality which is required at that juncture and to scale-up later. NetSuite ERP software covers modules with industry specific functionality (retail, manufacturing, wholesale and distribution, e-commerce, etc) that can be purchased separately as standalone application.
Core Capabilities of NetSuite Financial Management: – As a leading cloud-based financial management solution, NetSuite accelerates your financial close while helping in streamlining critical business processes, such as quote-to-cash. NetSuite offers accounting features like general ledger, accounts receivables, payable, compliance management, expense management, audit trail, alongside multi-currency transactions and revaluation capabilities. With Oracle NetSuite, organizations can get real-time visibility into financial performance. Budgeting & Forecasting: – The budgeting and planning functionality of Oracle NetSuite enables both company-wide and departmental financial planning. Modeling capabilities, approval workflows and reporting within the single platform ensures instant financial planning analysis and reporting. Built-in business intelligence along with embedded algorithms provides predictive analytics. Furthermore, you can also compare budgets to actuals to ensure optimal business performance. Order Management: – NetSuite helps in removing manual bottlenecks and preventing errors by streamlining order processing. NetSuite helps in establishing a smooth flow from sales quote to order fulfillment ensuring timely invoicing and payment. Integrated capabilities across sales, finance and fulfillment helps in eliminating billing errors while improving accuracy and fulfillment efficiency. Production Management: – NetSuite offers comprehensive production capabilities from sales order to work order processing, routing and scheduling, order fulfillment and product costing that enable manufacturing companies to seamlessly run their operations. Real-time visibility in the production process enables manufacturing companies to make more informed decisions. Supply Chain Management: – NetSuite enables you to manage business across multiple continents and time zones. Supply chain control tower offers global time phase view that contains current and future inventory position across global supply chain. With this feature, organizations get the ability to see projected inventory and also identify the potential issues. With demand planning module, you can calculate and predict demands based on history. NetSuite, further, enables you to generate forecasts using moving average, linear regression or seasonal average calculations. Warehouse and fulfillment: – NetSuite helps in increasing agility, visibility and labor efficiency. With NetSuite Warehouse Management System, organizations can optimize their distribution operations with RF device directed putaway while enables user to pick up tasks as per pre-defined strategies. Thus, we can infer from the above text that, with NetSuite, organizations can streamline their processes to bring transparency. Furthermore, NetSuite enables organizations to have a greater control over the resources while
empowering them to make more informed decisions based on built-in business intelligence and predictive analytics.
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