What is NetSuite Development & What Are The NetSuite Products And Its Benefits?
NetSuite is a cloud-based business application that allows small, mid, and enterprise businesses to run their operation on one single page. It also supports multiple applications in one platform, increasing efficiency and streamlining work. Moreover, NetSuite development is the world’s best cloud business management software suite, combining numerous business processes such as:
- Enterprise Resource Planning (ERP),
- Customer Relationship Management (CRM),
- Human Resources Management Software (HRMS),
- automation for Professional Services, and
- eCommerce on a single web-based platform.
MMCGBL has increasingly caught up with Netsuite-based projects and successfully delivered organizations with the help of professionals and expert NetSuite developers. If you are interested in building NetSuite ERP after reading this blog, just get in touch with us.
However, a quick background history is necessary to fully comprehend “What is NetSuite,” both in terms of the software program and also the organization and why we believe it is the ideal option for many businesses.
Brief Background of NetSuite Development
NetLedger, the company’s original name, was formed in 1998 by Evan Goldberg and supplied web-hosted accounting management software at the time. Additionally, it’s commonly acknowledged in the industry that NetSuite was the first cloud computing software business, even one month ahead of Salesforce.com.
Fast forward to July 2002, when Zach Nelson became CEO of NetSuite, leading the firm from $1 million in annual revenue to a billion-dollar run rate until its purchase by Oracle in July 2016.
Prior to creating and heading NetSuite, both Evan Goldberg and Zach Nelson worked for Larry Ellison (Oracle co-founder and CTO). In reality, Larry Ellison was one of the first major investors in NetSuite, putting $125 million into the company in 1998.
Since its purchase by Oracle in July 2016, NetSuite has operated as a distinct Global Business Unit (GBU) with the majority of its original management team in place.
Why Using NetSuite Development
NetSuite’s cloud enterprise resource planning (ERP) solution now provides organizations with all of the apps they require to manage their operations effectively while also fostering growth. NetSuite’s apps for finance, supply chain, customer relationship management (CRM), human resources, professional services, eCommerce, and more are used by businesses of all sizes and across innumerable industries.
The benefits of using NetSuite development in running a business are all listed below:
Real-Time Data Analytics
A clear dashboard with quick insights covers the core operating business such as HR, financials, procurement, marketing, etc. It also enables businesses to keep up to date with the data as well as for analytics and helps to make decisions in real-time.
Reduce IT Cost
NetSuite, as a cloud business management suite. It allows you to operate key business applications without incurring additional costs for IT infrastructure and resources.
Single platform for Multiple apps
In fact, with NetSuite, you don’t need to individually take care of applications. In fact, a single platform “NetSuite ” is enough to run multiple applications seamlessly. NetSuite boosts productivity, reduces cost, and makes an efficient business management process.
Customizable and Easy Integration
NetSuite supports third-party integration with the platform. You can also easily integrate with Shopify, Hubspot, Amazon, etc., without any hassle. This integration allows customers to maintain NetSuite as their primary system while also managing other platforms that better suit their departmental requirements.
Access Business Operation Globally
NetSuite’s cloud-based business management system gives you access to company data from any location and at any time. You may view this data from any device with an internet connection thanks to mobile support.
NetSuite Development Features
NetSuite is a perfect match for countless industries and business sizes. It also offers feature-rich capabilities for software, wholesale distribution, manufacturing, professional services, non-profits, and retail/eCommerce businesses straight out of the box, all from a single code base and ERP package.
Existing NetSuite Product To License
NetSuite offers five different types of software solutions that may b licensed on a subscription basis.
Enterprise Resource Planning (ERP)
ERPs are the most important software to make business operations unified. NetSuite ERPs offer HRM, supply chain, procurement, accountant, inventories etcThat is more functional than managing manually. Industry analysts such as Gartner, Forrester, and CODiE have long hailed NetSuite’s ERP solution, which uses over 40,000 clients worldwide.
Customer Relationship Management (CRM)
NetSuite CRM interfaces natively with NetSuite ERP and offers commissions management, marketing automation, sales force automation, and partner relationship management.
Ecommerce Services Management
NetSuite’s natively integrated eCommerce platform is SuiteCommerce. Since the early 2000s, when NetSuite Sitebuilder was released, the company has been active in eCommerce. Apart from being a good eCommerce option in its own right, SuiteCommerce’s biggest advantage is its direct connectivity with NetSuite.
Professional Service Automation (PSA)
Professional service-based firms that require to control and trace project time and costs, employees, and provide comprehensive project accounting can use NetSuite PSA. For companies looking for a PSA solution, NetSuite provides two options (OpenAir and NetSuite PSA).
Enterprise Performance Management (EPM)
NetSuite PSA is used by professional service-based businesses that need to track project time and expenditures, and resources, and provide full project accounting. NetSuite also offers two PSA solutions to firms searching for one (OpenAir and NetSuite PSA).
Bottom Line
NetSuite Development transfigures the business operations by providing ERPs, CRM, PSA, EPM, and eCommerce management systems. In fact, it is the world’s most useful ERP software at the SMB to enterprise level. By using NetSuite development, you can manage thousands of apps, boost productivity, streamline workflow, centralize operations, and much more.
