Netsuite Inc. is and computer software industry based in San Mateo, California which provide Web-Bases business management software service which is used for managing the a business‘s operations. The users can access these services by paying a periodic subscription fee. It was founded by Evan Goldberg as Net Ledger in 1998 and it was renamed as Oracle small business suite and at last it was again renamed as Netsuite. It is a multinational company which is available in English, French, spansih, Chinese, Russian and Japanese. Netsuite ERP is a product of netsuite which is responsible for supporting office operations which includes human resources, orders, inventories etc. This product earned PC Magazine’s Editor Choice Award in 2014.
Netsuite ERP- Netsuite ERP (enterprise resource planning) is the world’s most deployed cloud ERP having over 30,000+ organisations over 160+countries. It is a business management software that can be used for collecting,storing,managing and interpreting data from many business activities like product planning,manufacturing,shipping,payment etc.It provides an integrated view of business processes, mostly in real time using databases which are maintained by DBMS( data base management system). It delivers financial, comprehensive management capabilities which are required most for developing the business. It has its own benefits likes
- Order to cash product accelerates by 50%
- Fast decision making
- Low cost of ownership
- Improved workforce productivity and reliability
- Higher level of service to customer, suppliers and partners
ERP offers synchronized reporting. Instead of workers managing their own separate database and spreadsheets and later merging them manually ERP help is maintaining a single large database that gets updated in real time. It also includes a dashboard to enable the workers to easily understand the business performance and key metrics.
The term ERP was coined by Gartner in 1990, but has its roots date back to 1960s. Netsuite ERP has expanded to incorporate sales force automation, marketing automation and ecommerce. It gives a global real time view of data, improves financial compliance, automates business operation and enhances customer service. Due to the help of ERP employees can have access to accurate information and helps them to make quality decision and that too quickly not only this but ERP eliminates redundant process and systems that help to lower the cost of doing business dramatically. It supports following business process flows.
- ORDER TO CASH FLOW: Netsuite ERP automates cash to order flow. It delivers services and products more quickly and earns revenue though streamlined billing processes. It enables sales manager to have a look into inventory availability before taking order and this living up to customers’ expectations. With this customer can find that the returns are easy and efficient all due to Netsuite ERP’s return authorization form.
- COMPLETE PROCURE TO PAY PROCESS: Netsuites procure to pay process transforms inefficient paper based manual purchasing to digitalised secure approval management and payment transfers thus minimizing the error associated with paper forms such as lost paperwork or data transfer errors
- CUSTOMER CENTRE: Netsuite provide a customer centre which provides a password protected, company portal where a customer can track real time order status, account receivables and promotions.