Why Choose NetSuite ERP Over Other Cloud ERP Platforms
Why Choose NetSuite ERP Over Other Cloud ERP Platforms
When organizations need process improvement or growth strategy planning, implementing an ERP system helps. It streamlines your processes, making them more productive and efficient. The platform automates your routine tasks, optimizing operations and improving communication across the company. Â
That is why companies are hustling to implement ERP in their processes to enjoy these benefits. It started with on-premise ERP software; now, companies are moving towards cloud ERP solutions. One of the cloud ERP solutions that is predominantly preferred across industries is NetSuite ERP. Â
NetSuite ERP is an end-to-end solution that serves all your departmental needs separately as well as a whole. It provides you with:Â
- Smarter workflows that generate better results from your processesÂ
- A better understanding of customer needs and expectationsÂ
- A boosted cash flow, giving you more cash-in-handÂ
- One integrated database for all real-time, updated information to create detailed insightsÂ
- Accurate demand forecasts, leading to better inventory managementÂ
- Streamlined business functions, leading to cost savingsÂ
- More customer information with improved tracking of their shopping behavior, bettering customer relationshipsÂ
- Enhanced collaboration and communication between team membersÂ
Both on-premise and cloud ERP solutions provide all these benefits. But, let’s see why the companies have moved from on-premise to cloud ERP systems.
Problems with on-premise ERP solutions
High costÂ
On-premise ERP solutions require a considerable upfront investment for buying, implementing, and maintaining the solution. Also, you need to invest in hardware, software, server maintenance, space, and employees to keep the on-premise solution running. Post-implementation, configuration, and software updates will also need a big chunk of your budget.
Low securityÂ
Security is a big concern for on-premise ERP solutions because you have to handle it yourself. When the vendor is responsible (in the case of cloud ERP), they ensure privacy, compliance certifications, and enterprise-level security. Since you are responsible, there are higher possibilities of security breaches or human error.
Stagnant solutionÂ
Cloud ERP solutions evolve with time in alignment with industry trends. In the case of on-premise ERP solutions, you get a fixed set of features. If you wish to add more features or modules, you need to spend an extra cost, which adds to the high investment cost.
Mobile accessibilityÂ
You need a third-party provider to develop a link between an on-premise ERP solution and a mobile device. It requires an added cost, and your data security is also compromised. Furthermore, finding such a provider is a pain point in itself. Â
Version lockÂ
Customizations, upgrades, and integrations require you to test them. Also, you need capable employees to carry out the required work; otherwise, train them for the same. All this may disrupt your business and require more budget. For these reasons, companies drop such upgradation and customization and stick to older versions. Â
These are the reasons why companies do not prefer on-premise ERP. Instead, companies prefer cloud ERP because its merits outpace on-premise ERP solutions. Let’s look at the merits of cloud ERP in the next section.
Cloud ERP’s merits over on-premise ERP
- Implementation costs for cloud ERP are lower, and you don’t need to make frequent hardware updates, lowering the total IT costs. Â
- As cloud ERP evolves with your business, you have the added flexibility to add functional modules and capabilities as needed. Â
- You do not have to worry about system upgrades, servers, infrastructure, and database management because the vendor handles it all.Â
- You just need an internet connection and a browser to access the cloud ERP system, allowing you to stay connected always.Â
- Location of cloud ERP servers in centralized facilities, multi-factor authentication, and encryption make cloud ERP systems more secure. Â
- It is easier to customize cloud ERP solutions because your vendor handles it based on your business needs without requiring new hardware or software investment. Â
- Since the vendor manages the implementation and configuration processes, these are faster, and you can focus on user adoption and training. Â
- Cloud ERP solutions automate and streamline your business processes and facilitate collaboration and coordination between users, generating better performance. Â
- Cloud ERP solutions have multiple copies of data in different locations that help you shift to backup data in case of system failure, theft, or natural disasters. Â
With all these merits, cloud ERP solutions score over on-premise ERP solutions. And the best one among several cloud ERP systems is the NetSuite ERP solution. It is a preferred solution by many companies worldwide. Let’s look at why NetSuite is better than other cloud ERP systems.Â
Companies’ reasons for choosing NetSuite over other cloud ERP systems
NetSuite ERP is a business management software handling all your core business functions. It is a highly integrated system with optimized processes, workflows, and functions. Starting as a pure cloud-based ERP system, it set the scene for cloud solutions. Â
Preference for NetSuite over other cloud ERP solutions is because of the following reasons:Â
NetSuite ERP is a single-source solutionÂ
As the name says, NetSuite ERP handles all core business functionalities on its platform. It allows you to check data for any function, oversee the process, or measure performance. It manages accounting, customer relationships, inventory, warehouse, ordering, sales, marketing, support services, and many others. Â
The platform serves as the single data source for all workflows and processes. Analysis of all this data helps create insights and generate reports to be used for decision-making. Also, a single data source improves communication, collaboration, and coordination between teams, resulting in better efficiency. Â
Business management becomes easier with all your critical functions, processes, and operations at one central location.
NetSuite ERP is a customized solution for your own business needs
We all know ‘one size does not fit all’. This is true in the case of ERP. Every business is different – in terms of size, requirements, growth path, model, and strategy. So, your ERP solution will be different from your neighboring company. Â
NetSuite ERP is a solution that you can customize as per your requirements. You can add the modules you need, integrate the tools you want, and configure the solution as per your operations. And this also reflects in pricing since NetSuite offers you customized pricing as well. Â
The price depends on the features you need, the number of users, size, and revenues. Also, when your business grows, and your needs evolve, the NetSuite ERP system grows as well. You can increase the number of users, add more modules, and integrate more applications to expand its use. Accordingly, the price also changes, so you pay only for what you use.
NetSuite ERP gives better visibility into business operations
NetSuite ERP platform provides you access to interactive, easy-to-use dashboards. You can customize these dashboards as per users’ needs based on their roles and responsibilities. Â
The key merit of these dashboards is that they provide real-time data analysis. You can keep track of your KPIs and measures in real time and generate conclusions from them. You can also set alerts for meetings, payments, and deadlines. Â
The analytics and business intelligence generated on dashboards help you make decisions. You can track your performance and decide the future steps of action. Thus, you can keep a constant eye on your business performance to be better informed on what is going on in your operations.
NetSuite ERP possesses a high level of cloud security
Security is the key requirement of companies while adopting any new technology. Your company data is stored on these technologies, and if there is a threat to security, you may suffer losses. That is why software and hardware security is critical. Â
NetSuite ERP’s software security features include:Â
- Two-factor authenticationÂ
- Custom attribute encryptionÂ
- Alerts on failed password trialsÂ
- IP address restriction functionalityÂ
- Role-level access controlsÂ
- Strong password policiesÂ
- Idle disconnection when users do not log out of the systemÂ
The hardware security features of NetSuite ERP include:Â
- CCTV surveillanceÂ
- Fully guarded premises of data center locationsÂ
- 24*7 monitoringÂ
- Constant checks by the global security teamÂ
- Multiple security levels before giving physical access to data centersÂ
All these features give NetSuite ERP’s users freedom from the stress of security of their data and applications. Â
NetSuite ERP is a flexible platform
All your core business processes can run on the NetSuite ERP platform seamlessly. You can access it from anywhere, on any device, at any time of the day. This feature allows you to work from remote locations and connect to your processes from afar. Such flexibility improves your business productivity. Â
It’s an easy-to-use application, so you don’t need support once you get full training. Also, it saves you from the stress of maintaining servers or infrastructure. Thus, startups, mid-size companies, and large MNCs use the NetSuite ERP solution as per their needs.
NetSuite ERP supports multinational operations with Multilanguage and multicurrency capabilities
You can also manage your global business operations with multiple subsidiaries with NetSuite ERP software. You can combine all subsidiaries’ data into one or view it separately as per your analysis requirements. Â
Also, the information and data of operations are available in multiple languages. The multilingual capabilities allow you to work efficiently without language obstacles. You can source products from global vendors and serve global customers. So, your operations are fully supported even if you have a base in non-English speaking countries. Â
Similarly, the NetSuite ERP platform also supports multiple currencies. You can use more than one currency for a particular vendor or customer. The system also allows you to use a standard exchange rate for all transactions or a different one for a particular transaction. Â
NetSuite ERP boosts your business performanceÂ
NetSuite ERP brings all your business processes together. It automates them, streamlines the workflows, and optimizes their performance. Such automation leads to process efficiency and productivity. Â
A single data repository improves communication between departments. Hence, different business functions coordinate work and collaborate on decision-making. Your entity works as a single unit, generating better results for overall growth.Â
All these reasons make NetSuite a preferred ERP platform over others. But, it is also essential to select a capable implementation partner for your NetSuite ERP. Cloudiotech can help you with this to ensure you get maximum benefits from the system. Â
Role of Cloudiotech in NetSuite ERP implementationÂ
Cloudiotech is a leading provider of NetSuite ERP services in the US and the UAE. We guide you through the entire process of implementing and using the NetSuite solution. We:Â
- Evaluate your business requirementsÂ
- Plan the implementation processÂ
- Make the right choice of application and tools for customization and integrationÂ
- Manage data migration with no risk of data lossÂ
- Complete the implementation and configurationÂ
- Train your employees to extract the maximum use of the solutionÂ
Since now you have the best cloud ERP solution – NetSuite, and the best partner for implementation – Cloudiotech, what are you waiting for? Before your competitors benefit from the solution, grab the opportunity and call us to serve you. Â
Cloudiotech - Your guiding light in your NetSuite journey.
Contact our team for a quick demo. Â
