1) Robust Accounting Software
NetSuite’s accounting capabilities cover everything you would look for in an accounting software—accounts receivable, accounts payable, general ledger, and tax management. It provides invoicing and expense management along with tools that streamline financial close. In addition, NetSuite supports accounting on a global scale for international businesses with its ability to handle multiple currencies for multiple subsidiaries operating in multiple countries.
“NetSuite’s accounting capabilities cover everything you would look for in an accounting software—accounts receivable, accounts payable, general ledger, and tax management.”
2) Connected Systems
Disparate systems may get your company running, but they aren’t the long-term solution for companies that are ready to scale. Being able to connect all your business processes in one software is the second major reason why growing companies make the jump to NetSuite.
How does NetSuite provide connected systems, and what systems does it connect? In short—everything! NetSuite brings all your core business systems into one software, from financials to CRM to inventory to HR. As a result, you accomplish seamless data flow between departments.
“NetSuite brings all your core business systems into one software, from financials to CRM to inventory to HR.”
NetSuite also comes equipped with integration capabilities. Some of these integrations are prebuilt for major platforms like Salesforce, Shopify, and other third-party applications. Out-of-the-box, NetSuite connects to major ecommerce platforms, payment gateways, and logistics solutions. But even if NetSuite doesn’t have a native connections with the platform you need, it provides SOAP- and REST-based integration API for custom integrations.
3) Real-Time Reporting
With NetSuite, users have instant access to real-time data on financial performance metrics like revenue, expenses, cash flow, and profitability. As a result, you eliminate delays caused by manual data consolidation or outdated reporting systems. In addition, NetSuite’s wide range of pre-configured financial, operational, and compliance reports compile the data for you and can deliver those reports directly to your home dashboard.
NetSuite’s cross-functional data integration ensures you have access to data beyond just accounting, including inventory, sales, and HR. And with NetSuite ad hoc reporting capabilities, you can create custom reports with the specific criteria you need to report on and display that data in whatever way would be the most useful to you.
4) Automation Flexibility
What specific processes does NetSuite automate? NetSuite automates a variety of repetitive tasks, including invoicing, expense approvals, order processing, and payroll. It can also automate things like approval processes, notifications, and task assignments—all within the user-interface, which allows users to make adjustments to automations without coding.
“NetSuite’s automation features touch every department, streamlining processes for finance, operations, sales, and HR teams.”
NetSuite’s automation features touch every department, streamlining processes for finance, operations, sales, and HR teams. It automates tax calculations, regulatory reporting, and data logging to meet compliance standards effortlessly. Growing companies looking to save resource hours and cut back on the errors perpetuated by manual processes gravitate toward NetSuite’s sophisticated automation.
Conclusion
Whether your company is a long-time NetSuite user, just getting started with an implementation, or still investigating ERPs, SuiteRep would love to come on board and join the conversation! Our administrators and developers have both the breadth and depth of NetSuite experience needed to answer your questions and point you in the right direction. Reach out to us today to schedule your free consultation!