What is NetSuite ERP- Details, Pricing & Features?

What is NetSuite? Full
NetSuite Review 2021 -
Details, Pricing, Features Etc.
www.kanakinfosystems.com

What is NetSuite?
NetSuite is the one of the Enterprise Resource Planning (ERP) software from
Oracle. It is a highly scalable ERP solution that is delivered over the web and
offered as a cloud-based solution. NetSuite provides a single platform where
one can streamline business process operations and automate key functional
areas like: CRM, Inventory, Accounting, Finance, Billing, Order
Management and E-Commerce, etc.

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NetSuite provides a suite of tools and
customizable views of the company's Key
Performance Indicators (KPI) to
everyone from top-level management to
clerical staff within the organization.
NetSuite is targeted at mid-sized and
large-sized businesses that have a huge
team and lots of resources to manage.

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Since NetSuite is accessed online,
businesses save a lot of upfront cost
of development, customization, and
integration of business automation
software. NetSuite is being used by
25,000+ businesses in over 200+
countries. It is probably the first and
the last business management
solution that your business will ever
need!

Comprehensive list of NetSuite Features
NetSuite offers everything that you can expect from an ERP Solution. It
comprises interrelated modules that share a common database. Due to this
connectivity, users can select only the specific modules that they wish to
implement.
Here is a detailed list of modules and features that NetSuite offers: Accounts
Payable, Accounting, Accounts Receivable, Apparel Management, Business Intelligence,
Business Management, Distribution, Enterprise Resource Planning, Financial
Management, Financial Reporting, Inventory Control, Inventory Management, MRP,
Manufacturing, Manufacturing Execution, Order Management, Project Management,
Resource Management, Retail Management Systems, Supply Chain Management,
Warehouse Management.

ACCOUNTS PAYABLE
Here is a Detailed List of Modules and Features that
NetSuite offers:
1. Aging Tracking 7. Fraud Detection
2. Approval Process Control 8. Invoice Processing
3. Cash Management 9. PO Reconciliation
4. Check Writing 10. Recurring Payments
5. Data Extraction 11. Vendor Management
6. Duplicate Payment Alert

ACCOUNTING
1. Accounts Receivable 2. Billing & Invoicing
3. Expense Tracking 4. Fixed Asset Management
5. Fund Accounting 6. Payroll Management
7. Project Accounting 8. Purchase Orders
9. Tax Management
Continue… (List of Modules and Features that NetSuite offers.)

ACCOUNTS RECEIVABLE
1. ACH Payment Processing 2. Aging Tracking
3. Billing & Invoicing 4. Check Processing
5. Collections Management 6. Customer Statements
7. Online Payment Processing 8. Overpayment Processing
9. Partial Payments 10. Receivables Ledger
11. Recurring Billing

APPAREL MANAGEMENT
1. Billing & Invoicing 2. Catalog Management
3. Inventory Management 4. Materials Management
5. Order Management 6. Product Management
7. Production Management 8. Purchasing
9. Returns Management 10. Shipping Management
11. Supplier Management 12. Supply Chain Management
13. Warehouse Management

BUSINESS INTELLIGENCE
1. Ad Hoc Reports 7. Profitability Analysis
2. Benchmarking 8. Publishing / Sharing
3. Dashboard 9. Scorecards
4. Key Performance Indicators 10. Strategic Planning
5. Performance Metrics 11. Trend / Problem Indicators
6. Predictive Analytics 12. Visual Analytics

BUSINESS MANAGEMENT
1. Billing & Invoicing 7. Performance Metrics
2. CRM 8. Project Management
3. Financial Management 9. Purchasing
4. Inventory Management 10. Time & Expense Tracking
5. Marketing Management 11. Vendor Management
6. Order Management

DISTRIBUTION
1. Barcoding / RFID 5. Returns Management
2. Inventory Management 6. Sales Forecasting
3. Order Management 7. Shipping Management
4. Purchasing 8. Warehouse Management

ENTERPRISE RESOURCE PLANNING
1. CRM 7. Order Management
2. Distribution Management 8. Project Management
3. Enterprise Asset Management 9. Purchase Order Management
4. Financial Management 10. Reporting/Analytics
5. HR Management 11. Supply Chain Management
6. Inventory Management 12. Warehouse Management

FINANCIAL MANAGEMENT
1. Budgeting & Forecasting 6. Investment Management
2. Cash Management 7. Project Management
3. Consolidation / Roll-Up 8. Revenue Recognition
4. Currency Management 9. Risk Management
5. Financial Reporting 10. Tax Management

FINANCIAL REPORTING
1. "What If" Scenarios 7. Consolidation/Roll-Up
2. Access Controls/Permissions 8. Data Import/Export
3. Audit Trail 9. General Ledger
4. Balance Sheet 10. Multi-Company
5. Budgeting/Forecasting 11. Profit/Loss Statement
6. Cash Management

INVENTORY CONTROL
1. Barcoding/RFID 7. Item Management
2. Check-in/Check-out 8. Reorder Management
3. Cost Tracking 9. SKU/UPC Codes
4. Forecasting 10. Serial Number Tracking
5. Inventory Optimization 11. Supplier Management
6. Inventory Tracking

INVENTORY MANAGEMENT
1. Alerts/Notifications 8. Product Identification
2. Forecasting 9. Reorder Management
3. Inventory Optimization 10. Reporting/Analytics
4. Kitting 11. Retail Inventory Management
5. Manufacturing Inventory Management 12. Supplier Management
6. Mobile Access 13. Warehouse Management
7. Multi-Channel Management

MRP
1. Bills of Material 7. Quote Management
2. Document Management 8. Reporting/Analytics
3. Inventory Management 9. Safety Management
4. Order Management 10. Supplier Management
5. Production Scheduling 11. Supply Chain Management
6. Quality Management

MANUFACTURING
1. Accounting Integration 7. Quality Management
2. ERP 8. Quotes/Estimates
3. MES 9. Reporting/Analytics
4. Maintenance Management 10. Safety Management
5. Material Requirements Planning 11. Shipping Management
6. Purchase Order Management

MANUFACTURING EXECUTION
1. Document Management 5. Quality Management
2. Forecasting 6. Supplier Management
3. Inventory Management 7. Supply Chain Management
4. Order Management 8. Traceability

ORDER MANAGEMENT
1. Backorder Management 6. Order Tracking
2. Catalog Management 7. Recurring Orders
3. Inventory Management 8. Returns Management
4. Order Entry 9. Shipping Management
5. Order Fulfillment 10. Special Order Management

PROJECT MANAGEMENT
1. Agile Methodologies 8. Idea Management
2. Budget Management 9. Kanban Board
3. Client Portal 10. Milestone Tracking
4. Collaboration Tools 11. Portfolio Management
5. Cost-to-Completion Tracking 12. Resource Management
6. Customizable Templates 13. Time & Expense Tracking
7. Gantt Charts 14. Traditional Methodologies

RESOURCE MANAGEMENT
1. Capacity Management 6. Resource Scheduling
2. Collaboration Tools 7. Search/Filter
3. Drag & Drop 8. Skills Tracking
4. Forecasting 9. Utilization Reporting
5. Reporting/Project Tracking

RETAIL MANAGEMENT SYSTEMS
1. CRM 8. Multi-Location
2. Commission Management 9. Order Management
3. Email Marketing 10. Purchase Order Management
4. Employee Management 11. Reporting/Analytics
5. Loyalty Program 12. Returns Management
6. Mail Order 13. eCommerce
7. Merchandise Management

SUPPLY CHAIN MANAGEMENT
1. Demand Planning 6. Sales & Operations Planning
2. Electronic Data Interchange 7. Shipping Management
3. Import/Export Management 8. Supplier Management
4. Inventory Management 9. Transportation Management
5. Order Fulfillment 10. Warehouse Management

WAREHOUSE MANAGEMENT
1. 3PL Management 7. Purchasing
2. Barcoding/RFID 8. Quality Management
3. Forecasting 9. Real-Time Synchronization
4. Inventory Management 10. Receiving/Putaway Management
5. Multi-Location 11. Returns Management
6. Order Management 12. Shipping Management

Is Oracle NetSuite the Right Solution for you?
Since NetSuite ERP is a complete ERP solution, it helps businesses of almost all
sizes and industries. Any organization that wishes to achieve below mentioned
things is an ideal candidate for using NetSuite as their ERP :
1. Optimize their financial processes 5. Eliminate Operational Inefficiencies
2. Reduce IT costs 6. Gain Business Intelligence
3. Cut down Infrastructure costs 7. Get better reporting
4. Improve Scalability 8. Automate Business Processes

Due to the scalable nature of NetSuite, small, mid-sized, and Enterprise businesses
can manage their organization using NetSuite. It is the perfect ERP solution for B2B
and B2C companies alike. Companies from various industries and verticals can opt
for NetSuite implementation on their premises even if they are a multinational and
multilingual company.
However, small-sized businesses aren’t the most ideal organizations for using
Oracle NetSuite.
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How NetSuite ERP Adds Value to an Organization?
There are various ERPs available in the
market that offer various features and at a
cheaper price. Then, why should one choose
to use the NetSuite software in their
organization? Here are the main reasons
why:

Crowned the World’s No. 1 Financial Management Solution
Finance Management is the backbone of any organization and there is no better
software for Accounting Management than NetSuite ERP. NetSuite accounting tools are
used by thousands of companies to take care of their accounting needs, that include:
1. Expense Management 5. Budgeting & Forecasting
2. Financial Close 6. Currency Management
3. Auditable Revenue Management 7. Risk Management
4. Real-time Financial Reporting 8. Tax Management
1.

Not only is this useful in itself, the accounting, management, seamlessly
integrates with other tools such as Order Management, CRM, Inventory, and E-
Commerce. This integration makes it a must-have tool to manage every aspect of
a company's finance.
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Data-Driven Decision-Making
Oracle NetSuite has built-in business intelligence tools that are highly
efficient and useful in helping the decision-making process. These Business
Intelligence tools crunch data from various sources such as your finances,
production, sales, etc. for the most accurate suggestions/predictions.
2.

Data Security
Unlike other tools that live on your system, NetSuite ERP runs on the cloud.
Therefore, it is more resistant to hackers and offers greater data security. The
possibility of a data breach is highly unlikely as the data is encrypted and accessible
only by authorized personnel. NetSuite reviews from existing customers confirm
that their data is very secure.
3.

Highly Scalable
NetSuite ERP has been in the ERP industry for a very long time and companies
trust NetSuite for a reason - It is highly scalable. You would rarely be in a position
where you wish to scale your business processes but are limited. NetSuite from
the get-go is highly scalable and is efficient at it.
NetSuite solution providers such as Kanak Infosystems understand that
businesses need to scale and hence provide NetSuite Consultation and NetSuite
implementation accordingly.
4.

Efficient and Error-Free Automation Processes
Entering data manually into systems doesn't just slow down your operations, it is
also a source of greater mistakes. NetSuite offers various modules to create
seamless transitions between various business processes.
Using NetSuite's management modules such as billing management, you can easily
create an efficient workflow for your sales, finance, and fulfillment operation teams.
Not only that, you can improve quote accuracy, reduce billing errors, automate
invoicing, and reinforce revenue recognition.
Similarly, you can use various modules that share the same database for creating
an automation process that suits your requirements.
5.

Optimize Employee Capabilities
Oracle NetSuite's Human Capital Management enables you to understand the
productivity levels of different employees. This allows you to create better roles and
responsibilities for key people in your organization while reducing the management
cost.
Moreover, this module gathers data about the day-to-day functioning of your
company to offer cost-effective solutions to create a motivated, diverse, and
efficient workforce.
6.

A One-Stop-Shop for All Requirements
It covers almost all the areas of business management from Production to
Customer and everything in between. From a single platform, you can govern and
run an entire firm efficiently.
With NetSuite, every aspect of your business can be tracked, managed, integrated,
and optimized from a single tool. Not only that, the data from various touchpoints
are accumulated into a single point allowing for greater control over the workings
of your business.
7.

Perform Advanced Tasks
NetSuite ERP does way more than just basic housekeeping. It can deal with
businesses in multiple countries, languages, subsidiaries, and currencies. On top of
having support for different currencies, NetSuite can comply with various
international accounting standards. No wonder it is ranked as the No. 1 Financial
Management solution.
Not only does NetSuite help you track your income and expenses, but it also
facilitates advanced revenue recognition management.
The number of advanced tasks that you can perform with NetSuite is endless and
NetSuite developers are highly trained to gather any requirement and help you
achieve what you want to do.
8.

Pricing/Affordability
NetSuite pricing system is tailored to each customer's specific requirements. The
NetSuite pricing for a company depends on the use-cases, ERP Configurations,
Add-Ons, No. of users, Contract Length among other factors.
The NetSuite license has a subscription model which can be paid annually or at any
other convenient interval. NetSuite also offers a free product tour in case you want
to examine the features of the product before having a NetSuite login.
You can also consult an official NetSuite partner such as Kanak Infosystems to help
you.
9.

Where Does NetSuite ERP Lack?
There are tons of advantages and benefits of using NetSuite software, but of course,
nothing is perfect. NetSuite helps organizations all over the globe to achieve their
goals, but there are a few shortcomings of this great ERP tool as well.
Subscription Cost
The entire NetSuite ERP software lives on the cloud and handles all your operations.
As the number of users increases, the cost of their annual subscription also starts to
increase too. Every penny spent on NetSuite is worth the Return on Investment, but
the costs do keep growing over time.

Sophisticated Customization Process
Since NetSuite is a mammoth ERP, it has a lot of moving parts. To add customization
on NetSuite requires constant support and maintenance from the NetSuite
developer team as every customization is unique. Customizations do require a lot of
effort from the NetSuite team, but they ensure that your business isn't burdened by
it.
Inability to Support Small Businesses
NetSuite is targeted at medium-sized to large-sized businesses that are growing
rapidly. But due to the no. of software features and size, it becomes unaffordable for
small businesses and they are unable to take advantage of the ERP.

How Kanak Infosystems helps with NetSuite
Implementation.
Having served multiple clients across the globe for more than 8 years, we have
earned a stellar track record in NetSuite implementation. No matter the size, type,
and nature of your business, our certified NetSuite professionals follow industry’s
best practices for NetSuite ERP Implementation in your company.
Kanak Infosystems is an official NetSuite implementation partner and so we follow
the standard procedure of implementing NetSuite as follows:

1. Requirement Analysis: Understanding the company processes and possible
implementation areas to boost productivity.
2. System Design: Planning, Designing, and configuring NetSuite before
implementation.
3. Development: Experienced NetSuite professionals start developing an MVP of
the solution.
4. Test Data Migration: Migrating existing data into NetSuite.
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5. Internal Testing: Our implementation expert starts using NetSuite to ensure all
functionalities are working correctly.
6. Training: Rigorous training is then provided to the actual user.
7. Complete Data Migration: All data now migrated to NetSuite.
8. Going Live: NetSuite successfully implemented in your company.
9. Post Live Support: Our NetSuite expert will be available for providing support.
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Summary
NetSuite is an industry-standard ERP solution that is loved by thousands of
companies all over the globe. Getting started with NetSuite implementation for
your organization isn’t a simple process and it is highly advisable to opt for a
NetSuite solution provider to help you along the implementation journey as
they have more experience.
As NetSuite Partners, Kanak Infosystems provide a variety of NetSuite Services
such as - NetSuite Consultation, NetSuite Integration, NetSuite Developer,
NetSuite Implementation, etc. For any queries, you can reach us at
sales@kanakinfosystems.com

Website
Mailing Address:
Unit no. 406, 5th Floor, Westend Mall,
Janak Puri, New Delhi, Delhi - 110058 India
Mobile No.
+91 9818108884
Email Us
sales@kanakinfosystems.com
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What is NetSuite ERP- Details, Pricing & Features?

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