The ERP software is a one-platform solution that automates and manages the different business activities on a single platform and enables accounting, stocktaking (inventory), planning, budgeting, distributing, and other core functionalities in real-time. With growing relevance, the ERP software is nearly 3% of the global business process management market. While the market is swamped with multiple vendors, only a few are leading eg. NetSuite, SAP, Acumatica, and Sage.
Despite the competition, NetSuite has a clear advantage owing to its vast features, ease of implementation, customizations, enhanced security, and affordability. Besides these, the vendor provides the benefits of a truly cloud-based solution that further consolidates its position as a complete solution and offers better management of everyday operations.
As a growing organization, if you are also looking for your first ERP solution, then consider NetSuite and understand why it ranks over peers. Read to know more.
What Is ERP Software?
ERP is a comprehensive and integrated set of software applications that automate processes and help users operate their day-to-day tasks effortlessly. As a system, it integrates various departments on a single platform, collects data from different sources, eliminates data duplication, and provides a single source of information that is shared around the enterprise. Different departments refer to this source of truth to work strategically towards the business goals.
Most of the ERP solutions available in the market are a good investment, but the top recommendations for the best ERP systems are:
Of the above-mentioned ERP software list, NetSuite ERP is the first choice for most SMEs.
Why NetSuite ERP? – Its Features and Benefits
NetSuite ERP is a cloud-based solution that helps organizations automate their core processes and provide real-time visibility into operational and financial performance. This integrated and unified solution offers complete visibility into the End-to-End processes from CRM to Revenue Operations. It enables enterprises in managing accounting, procurement, inventory, manufacturing, supply chain, warehouse, and other activities on a single platform.
For a better understanding and tight control over business performance, NetSuite ERP is the best solution.
Benefits of NetSuite ERP
Some of the common benefits of the ERP system are listed here:
- Automation of Financial Processes – Increase the efficiency and productivity of your financial operations with automation. Provide accurate data reports to all the stakeholders, and more.
- Data Accessibility – Fetch real-time information at the corporate level at your fingertips. Make effective and strategic decisions to overcome gaps and improve overall productivity.
- Visibility into Inventory – Track and monitor inventory levels, reduce carrying costs, and fulfill orders on time by gaining complete visibility into your real-time inventory. Get accurate stock information to plan and balance the demand.
- Optimization of Supply Chain Management – Enhance the movement of goods across the value chain by streamlining SCM even when the market is witnessing rapid change, increasing costs, and changing customer behavior.
- Error-free Order Management. Make order management and procurement process error-free and fulfill the orders on time by capturing, tracking, and delivering customer orders. Meet customer expectations by delivering the promised goods on time and saving costs.
- Streamlining of Warehouse Management – Organize and optimize the processes of warehouse management, label items, minimize errors, and reduce costs. Deliver goods from the nearest warehouse and save millions of dollars on shipping costs.
- Scalability – This cloud-based solution enables you to scale up or down as needed without any difficulty and without buying additional software or licenses. Plus, the software can be scaled as needed without interrupting daily work.
- Adaptability – Modern ERP systems are designed to adapt to your business processes and thereby making them more efficient and productive. You are not required to change the established processes to adapt the software; rather, the system adapts to the established workflows.
Get your NetSuite ERP solution to manage your entire business from a single platform. Add or remove modules as your business requirements grow. So, if you are still wondering how getting your first ERP is better than buying basic software or struggling with expensive and complicated solutions talk to us for a demo.
Features of NetSuite ERP
The most commonly used ERP modules support back-office and front-office functions – finance and accounting, procurement, manufacturing, supply chain management, customer relationship management, procurement, and workforce management. However, as per business requirements, companies can choose other functionally rich solutions. Here is a complete list of ERP modules.
Conclusion
Over the last few decades, the ERP system has evolved into a critical business tool because it automates core business processes and serves as a shared database for all financial and operational information. It offers an ease of system integration with other modules and provides business intelligence that SMEs can use to achieve and further their organizational goals. This explains why the global ERP software market is expected to reach $139.4 Billion by 2033 at a CAGR of 9.1%.
A report suggests while large organizations are accounting for a major share of the ERP software market, Small and Medium Enterprises (SMEs) are also expected to grow at a CAGR of 10.4% from 2023 to 2033.
Instead of investing in starting-point software and then looking for third-party services to manage your day-to-day activities, get robust and resilient software – a NetSuite ERP system that automates critical processes and increases productivity. It scores over its peers in being flexible, affordable, and easy in implementation.
Forsys, as a strategic partner of NetSuite, offers the best-in-class, E2E service for NetSuite ERP software. Talk to our experts for a demo.