NetSuite balances bedrock principles with innovation

March 3, 2016
Posted in Intacct
March 3, 2016 TM Group

NetSuite balances bedrock principles with innovation

Netsuite data integration is crucial for online success in 2016.

NetSuite was in the cloud long before most of its competitors. About 20 years later, it still offers ERP and CRM solutions with its integrated cloud business software suite, which provides businesses of every type the functionality they need to stay competitive in the modern world.

While the NetSuite products and features constantly evolved to take advantage of innovations and new technology, the basic philosophy of providing fast, flexible cloud solutions is still the same. Zach Nelson, NetSuite CEO, believes offsite business software is more than a trend, but rather the bedrock for business operations that will remain useful for a very long time, according to CIO magazine.

“What more is there after all your information is available on every device at any time?” Nelson said.

NetSuite recently introduced new features for its industry leading software, including specialized apps for mobile devices and machine learning capabilities for data storage. The original software was designed to give mid-sized businesses the edge they need to better compete in today’s economy, but NetSuite’s current offerings also provide options for all businesses in a variety of industries. The fast, flexible, mobile and simple data processes delivered by NetSuite grow ever more popular and the company responds by tailoring innovative products to new markets.

NetSuite going global
The Internet connects people. As business has gone online, geography ceases to be a major obstacle for a variety of operations. NetSuite recognizes the global market and responds by making its products convenient to a variety of audiences. Diginomica detailed how the software works with 20 languages, 190 currencies and tax calculation and reporting compliance in more than 100 countries.

As NetSuite expands, it also partners with other software developers to offer new features. In 2015, the organization teamed up with Venda for eCommerce functionality and Bronto for marketing. Additionally, acquisitions help NetSuite provide new functionality directly from NetSuite.

The suite of solutions offered by NetSuite are single solutions that integrate eCommerce, CRM data and ERP solutions to give any business the insight they need for omni-channel performance. As the software automatically converts numbers to correspond with local tax laws and consumers, it makes the information easier to work with and implement into daily practices.

A solution for industries in 2016
The changes introduced into NetSuite systems can help every company manage, collect and analyze data pouring in from their business operations. Businesses have to adapt to changes both in technology and increased global competition. An organization’s data has to be accurate and convenient.

Chain Store Age offered the specific example of an organization, Dylan’s Candy Bar, that saw immediate benefits from a NetSuite implementation. Dylan’s has been in operation since 2001. For a long period of time, they used disparate systems to manage inventory, facilitate sales and communicate with customers. Since implementing a centralized NetSuite solution to manage its growing online channels and brick-and-mortar locations, it saw drastic increase in revenue.

NetSuite said Dylan’s Candy Bar used the cloud-deployed business software solution to reduce inventory miscounts by 65 percent, while increasing order volumes by 32 percent. The information provided by the NetSuite system sped up order fulfillment, improved data communication procedures and increased managerial oversight. The advantages were not just internal, the NetSuite solution helped improve consumer satisfaction through consistent omni-channel care by standardizing quality. No matter how the customer makes contact or places an order, he or she will receive the same answers and service.

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