- Improved financial operations efficiency and productivity with a single, integrated system to handle all core processes for users anywhere in the world.
- Timely financial close centralizing management of all period-end close activities to reduce time and resources spent investigating and resolving errors.
- Ongoing compliance with revenue recognition, tax requirements and financial reporting in accordance with various accounting standards and government regulations.
- Real-time visibility to see consolidated financial results for any part of the business at a summary level, and all the way down to the underlying transactional details.
NetSuite ERP enables organizations to manage IT costs, optimize accounting efficiency, streamline order management and procurement processes, eliminate manually-intensive spreadsheet-based reporting, and improve employee productivity.
Why NetSuite ERP?
- ORDER-TO-CASH: Intuitive user interface and integrated workflow management to process sales estimates to customer collections, end-to-end.
- AUDIT TRAIL VISIBILITY: Drill-down capabilities to see the underlying detail from the financial statements to the transaction.
- PROCURE-TO-PAY: Intuitive user interface and integrated workflow management to process requisitions to vendor payments, end to-end.
- TAX MANAGEMENT: Pre-built tax intelligence to process sales transactions in compliance with proper regulations
Fixed Asset Management
- FLEXIBLE DEPRECIATION MANAGEMENT: Depreciation scheduling using any of the available standard methods (e.g., straight-line, fixed declining, sum-of-the-years-digit, etc.).
- WORKFLOW MANAGEMENT: Integrated workflow capabilities to support the asset lifecycle from asset purchase to retirement, end-to-end.
- FIXED ASSET ROLLFORWARD: Out-of-the-box asset summary reporting to show beginning balances, changes during the period and ending balances.
- INTEGRATED FINANCIAL REPORTING: Drill-down capabilities to see the underlying detail from the financial statements to the related fixed asset transaction.
- FLEXIBLE PAYMENT ACCEPTANCE: Accept a variety of credit and debit card types and other electronic forms of payment for online payment processing needs.
- GLOBAL READY: Serve different geographical markets with multi-currency and multi-site capabilities.
- FRAUD PREVENTION: Out-of-the-box capabilities to enforce controls around card-related verification, authentication, encryption and more.
- FLEXIBLE PAYMENT PROCESSING: Support card payments for recurring and installment billing, as well as split and partial payment transactions.
Supply Chain and Inventory Management
- DEMAND PLANNING ENGINE: Calculate demand projections based on projection methods that consider historical data, sales forecasts, average trends and seasonality.
- GROSS REQUIREMENTS INQUIRY: Model expected sales and purchase orders to see the impact to future inventory levels.
- AVAILABLE TO PROMISE: Gain real-time visibility into item availability to determine projected ship dates for fulfilling customer orders.
- DISTRIBUTION RESOURCE PLANNING: Plan inventory levels across multiple retail, distribution and production locations using networks that transfer stock in a timely manner.
- SUPPLY CHAIN INTELLIGENCE WITH MRP: Leverage MRP parameters, such as forecast consumption, lot sizing methods including periods of supply, demand and planning time fences to calculate a supply plan with recommended purchase and work orders as well as rescheduling in/out and cancellation alerts.
- ORDER FULFILLMENT: Fulfill orders effectively with complete bin management and cross-location visibility capabilities.
- INVENTORY CONTROL: Control inventory replenishment with capabilities to minimize excess stock and fulfill orders on time.
- INVENTORY VISIBILITY: Gain real-time visibility into key inventory trends, on-time delivery metrics, shipping costs and more.
- COST MANAGEMENT: Accurately track and report costs by accounting for specific detailed landed costs and allocating inventory costs by weight, value or quantity.
Purchasing and Vendor Management
- INTEGRATED PROCESS WORKFLOW: Manage the entire procure-to-pay process with capabilities to process requisitions, purchase orders, invoices and payments in a single solution.
- CENTRALIZED VENDOR MANAGEMENT: Provide vendors with self-service access to real-time information relating to the purchase order, inventory and payment data.
- ROUTING AND APPROVAL: Eliminate maverick spending with automatic routing and digital approval capabilities to authorize expenditures in accordance with company policy.
- SHOP FLOOR MANAGEMENT: End-to-end, real-time shop floor management with work order tracking, component yield and scrap management, and visibility into work-in-process inventory put-away to finished goods.
- PRODUCT COSTING: Plan for targeted manufacturing expenses. See real-time variance analysis between standard and actuals costs while managing various types of machine, materials and labor overhead.
- MANUFACTURING ROUTING: Optimize manufacturing routing by assigning work centers with machines and labor resources to specific tasks. Schedule alternate routing on demand.
- BILL OF MATERIALS: Visibility into assemblies and components to manage product obsolescence and revision control with “multi-level bill of material” and “components where used” inquiries.
- MATERIALS RESOURCE PLANNING: Plan future production materials and work orders using multi-level BOM explosion, component yield, work center calendar, and planned daily work center capacity.
NetSuite streamlines and improves the accuracy of the procure-to-pay process by automating and linking key procurement transactions and providing approval and matching workflows to support internal controls and compliance requirements.
Order and Billing Management
NetSuite fast-tracks your order-to-cash process by eliminating manual bottlenecks and errors and establishing a smooth flow from sales quote to approved order, successful order to fulfillment, and timely invoicing to payment. NetSuite’s order and billing management capabilities integrate your sales, finance and fulfillment teams—improving quote accuracy, eliminating billing errors, strengthening revenue recognition processes and driving fulfillment accuracy and efficiency.
Warehouse and Fulfillment
Receiving and Putaway
- Receive items as they come into the warehouse and utilize putaway strategies to find the best storage bin location. Perform putaway with step by step directions on a RF/Mobile handheld.
- Replenish forward pick locations dynamically, perform inventory moves across bin locations, release and resolve cycle count plans. Track Serial # and Lot # along with FIFO and expiration dates.
- Fulfill orders efficiently with Wave Selection and Release. Pick, Pack and Ship optimally with use of system directed picking and packing. Easily manage kits and work orders.
Real-Time Visibility and Control
- Gain real-time visibility into warehouse operations with WMS Dashboard, monitor inbound and outbound metrics, labor productivity tracking and more.
Revenue Recognition and Management
NetSuite’s revenue recognition management solution helps companies comply with accounting standards and report financial results in a timely manner. NetSuite’s revenue recognition solution will help you schedule, calculate and present revenue on your financial statements accurately. You’ll always have a complete, real-time view of your customers and their interactions. Improve customer retention and watch your business grow as existing customers renew and new customers get acquired.
Model and evaluate different financial scenarios to set targets for your annual operating plan, in a bottoms-up or top-down manner, and then analyze the variance between actual and projected results to manage business performance.
Human Capital Management
NetSuite Human Capital Management provides a unique advantage addressing these challenges through an integrated, intuitive, flexible and comprehensive HCM solution.
NetSuite Premier Payroll Service is a complete, full-service solution for managing your payroll. We do all the hard work for you, including handling all filings and deposits for federal, state and local jurisdictions. NetSuite Premier Payroll Service minimizes payroll headaches, reduces tedious paperwork and gives you peace of mind with our “No Penalties Guarantee.” You’ll never need to prepare or mail payroll tax forms again. Managing payroll has never been so easy.
Incentive Compensation Management
NetSuite’s Incentive Management module allows businesses to design, track and pay sales commission plans. NetSuite provides an easy-to-use solution to address the challenges of creating and maintaining complex multi-tiered commission plans.
NetSuite ERP delivers the proven, comprehensive financial management capabilities required to grow a changing, complex business. Take your business beyond traditional accounting software by streamlining operations across your entire organization with the real-time visibility you need to make better, faster decisions.