10 Oracle NetSuite ERP Benefits that Transform Your Business for the Better
10 Oracle NetSuite ERP Benefits that Transform Your Business
Modern-day businesses need a versatile solution to streamline all their business processes. A system that gives a 360-degree view of your business workflows in real-time. And what better software than NetSuite ERP that can provide all of these benefits and much more?
It automates your business processes and makes them more productive. It creates a centralized database for all departments to access data for further processing. You can customize the Oracle NetSuite ERP solution by integrating relevant modules and applications.
NetSuite ERP solution fits the bill of a full-featured cloud ERP software. It has all the features and functionalities to help your business achieve its true potential. This article focuses on the key benefits of the Oracle NetSuite ERP software.
1. Better Business Visibility
What is the most common question internal stakeholders ask when you attend the update meetings? How is the business going? You can answer it accurately only if you are aware of what’s really going on in your business.
Oracle’s NetSuite ERP software gives you this complete view of your business. You have all the updates from all the departments and business functions. You can get an overview of results and KPIs in each business aspect in real time.
You need to gather KPIs from departments. You get all the data on dashboards in the form of graphs, charts, and reports. You can drill down further to generate more insights and act on these insights for more informed decisions for the company.
Such accurate results produced on time help you control the business processes. It gives you insights into the aspects where you excel and the areas where you need improvement. These insights and 360-degree views aid in timely decision-making for the business.
For example, you want to know the ROI of a marketing campaign. For this, you must have the numbers on investment in terms of person-hours and costs as well as the campaign’s success in terms of KPIs. You can get all these numbers from the dashboard in real-time.
2. Easily Customizable As Per Business Needs
- Want to make customer relationships better? You need to use a CRM solution.
- Aim to make no accounting errors and manage finances easily? Get accounting and financial management software.
- Finding problems in handling the correct number of stocks? Implement inventory and order management software.
- Wish to manage human resources and their compensation smoothly? Human resources management solution is the answer.
- Want to make project management easier, faster, and more successful? A project management solution can do the work.
You cannot implement all of them to make each of these processes smooth and efficient. So, which one do you drop? Which one do you implement on priority?
Businesses need not worry about this. With Oracle NetSuite ERP, you can get all these modules and many more. And, they work as one unit and not as disjoint systems.
NetSuite ERP software is flexible enough to support all these applications. You do not need a separate solution for these functions. Just get the Oracle NetSuite ERP solution and customize it as per your business requirements. It has more than 30 different modules and several other add-ons that make your business efficient. These modules integrate well to give you consolidated data for better reporting.
3. Efficiency Driven by Automation
Pre-ERP systems period witnessed businesses handling data and calculations manually. They were using spreadsheets to note down details, numbers, and calculations. All this made processes slow, time-consuming, and prone to human errors.
But post-ERP systems period, you are safe from manual errors, duplication of efforts, or slower processes. This is because the NetSuite ERP system has automated your processes. With automation of business processes, you can:
- Avoid duplication of efforts or missing data
- Eliminate manual errors
- Have standardization of data and information formats
- Save time that is wasted in copying data from one form to another
- Save costs that would have been used in hiring and training employees to do the manual work
With these benefits, you remain stress-free while still enjoying the standardization of your processes. You save time, costs, and important person-hours that can be used for better work for the business. Also, standardized business processes make your business more efficient and productive, giving you better results.
NetSuite ERP also adds consistency to your ways of handling customer complaints or concerns. With such consistency and automation, you are not required to look into every matter; only the unique cases need human intervention. Such automated processes make you more proactive and faster in responding, giving you enough time to generate value for your business.
4. Effortlessly Integrable With Other Third-Party Systems
Some business functions or departments already have technological solutions to support their processes. You are already enjoying smooth workflow with these systems and do not want to change them. But you have already decided to implement Oracle NetSuite ERP.
You can still enjoy both the systems’ productivity and results. This is because NetSuite ERP is easily integrable. That means you can integrate many third-party systems with the NetSuite ERP system. It fits well with most of these systems, giving you more chances to enjoy the advantages of both.
Thus, employees’ productivity increases because they are experts using the existing systems. And the implementation of NetSuite ERP software makes the processes more efficient. With more efficiency in business operations, you can make quick decisions, thus saving you time and money.
5. Centralized Data and Information
Suppose the Finance Head is asked about the financial situation of the company. Now, they cannot just come up and say, “It is good/okay/bad”. They need to pinpoint the areas where cost is higher or where profits are good or areas where more investment is required, etc.
NetSuite ERP resolves these problems by giving you access to all the data and information. You don’t need to ask every department’s head about their workflow or data’s status. They will update it in the ERP software, and you can view each function’s updated data.
Since all business processes run in parallel at any given time, they keep updating their side of the story in the centralized database. When you need the numbers or insights from one department to give a push to yours, you can have them from the database and dashboard. Thus, the NetSuite ERP solution gives you the updates you need, supporting your specific requirements.
For example, you want to run a customized marketing campaign for loyal customers. You will get the data of loyal customers from the centralized database; you need not ask the CRM department for it. Now, you can design the campaign in the marketing department and send it to these loyal customers. The CRM department will also be able to track the performance to decide their next action plan.
6. Racing Towards Business Scalability
What do you need to scale your business to greater heights? More human resources. Operations in different countries. A better understanding of the industry.
All of these are possible through the Oracle NetSuite ERP system. It happens because the NetSuite ERP takes care of all your business processes. They are standardized, following the workflow consistently day-in and day-out. Thus, you remain worry-free, focusing more on scaling your business to a path of glory.
When you plan to expand your business, you will need more human resources. Our solution resolves this problem. You can add more users to your NetSuite ERP license to accommodate other people. You can select the version as per your business size and goals.
When you plan to set up an office in other geographies, the solution helps with its multi-lingual capability. You can manage your subsidiaries and branches in any other country with the multi-language support of the ERP solution.
Also, if you need to enhance its capability further, you can integrate it with the add-on configuration or module. Thus, you can scale your NetSuite ERP software based on your growth phase, saving your costs.
7. Savings in IT Time and Costs
With the cloud-based Oracle NetSuite ERP, you can save on IT costs. This is because cloud ERP system does not require hardware to install network servers for data storage. Your data is stored in the cloud, and even programs run on this cloud. And this cloud is accessible through an internet-connected device.
Secondly, you do not have to hire and train personnel for ERP maintenance, saving costs. You do not require additional experts to maintain or update the NetSuite ERP system. The cloud hosting vendors provide these services in addition to customer support.
Another way you save money is by saving time of your management and employees. Since the NetSuite ERP system streamlines and automates your business process, your work happens faster and more accurately. You are saved from the manual work, removing the possibility of errors or duplication of efforts.
Thus, your IT team can focus on better initiatives and development work. Even the IT budget can focus on other investments to help you innovate. Therefore, you become more efficient and save money.
8. Complete Focus on Data Security
Oracle NetSuite ERP never compromises the client’s data security. It has all the features, certifications, and monitoring tools to ensure data security:
- Its comprehensive security certifications include ISO 27001, SOC 1, SOC 2, EU-US Privacy Shield, and PCI DSS.
- An enterprise-graded antivirus software guards the software; numerous intrusion detection systems (IDS) identify security attacks; and the NetSuite ERP blocks unauthorized access attempts.
- Even employees undergo background checks to ensure there is no threat to client data.
- The Oracle NetSuite ERP receives frequent updates and upgrades, which are essential to save your data from the threat of attacks.
- For the security of applications, NetSuite ERP uses token-based authentication, multi-factor end-user authentication, and role-based access controls.
9. Improved collaboration, coordination, and communication
What are the most essential ingredients of a successful project?
- Coordination among team members
- Constant communication on project updates
- Collaboration with different departments for relevant work
Oracle NetSuite ERP makes all these possible.
A centralized, shared database is accessible to all teams for updating their side of the story. This allows you to collaborate easily for project work, financial approvals, and customer information. With shared data and insights, you can coordinate with other team members to take the project further.
It also facilitates communication with the management and other stakeholders. The NetSuite ERP also allows communication with customers to identify their expectations and ensure these are met. Clients will also have access to relevant information, which is enough for them to be satisfied with your services.
10. Enhanced and Faster Decision-Making
When you have:
- Automated core business processes
- Centralized, shared database for all business functions
- Good visibility of all the activities occurring in your company
- Performance analytics and insights available at a single click
- And multi-lingual, multi-currency, pan-world, and subsidiary-wise insights
All in one, single, unified solution – Oracle NetSuite ERP, your decision-making improves. You have what it requires to manage your:
- Accounting and finances
- Order processing
- Production of products and services
- Stock, from generating alerts to arranging on the shelves
- Supply chain processes
- Engagement with customers for better relationships
- Marketing campaigns and their performance
- Human resources and their payroll
- Reporting and analytics
When all these activities are managed and controlled well, you can readily avail all the relevant data. With this, you can generate dashboards, insights, and reports, summarising your findings. You can also go deep into any business activity to explore more. These insights help you make better, informed, and in-time business decisions.
Once you implement Oracle NetSuite ERP, you will get to know many other benefits to your business. We, at Cloudiotech, can guarantee these benefits because we have been providing NetSuite services to several clients in the UAE and US. We have been a leading provider of NetSuite ERP implementation, customization, integration, and training services for years.
If you are confused about whether to buy or not buy NetSuite ERP software
Try Cloudiotech’s free demo; we guarantee that you will like it.