What is Netsuite and Why is it Important for You?
Tags: netsuite, erpsolution, netsuitemanagement, netsuiteerp
Published: 2022-05-18 12:31:07

NetSuite is a mixture of Enterprise resource planning (ERP) software. Its primary purpose is to help entrepreneurs optimize their business processes to achieve business growth and progress. It also helps automate the business processes and activities in a cloud platform with high-end benefits.

It is no secret that the world is evolving, and therefore we need to modify our methods and strategies to keep up with the times. Organizations desperately need cutting-edge technologies such as robust ERP software or an efficient cloud facility to manage their business activities.

## History of NetSuite Enterprise Resource Planning (ERP)

NetSuite is relatively new in ERP. It was introduced in 1988 by Evan Goldberg under the name of Netledger. During the first few days, it was started as web-hosted accounting software for catering to the following needs: customer relations, effective management, and other operations. It caters to all types of businesses in a cloud environment.

Later, Oracle NetSuite was developed and nurtured the growth of NetSuite from a small business suite to a [Powerful ERP solution](https://mmcgbl.com/top-netsuite-erp-features/) that works in various capacities to enhance the business operations.

## Why NetSuite?

Choosing an ERP solution is problematic as several ERP providers offer demanding solutions for multiple companies. However, there might be a chance that all these ERP solutions may not be what you require for your business. Hence, the best way to make sure that the platforms adhere to your specific need is to opt for ERP software.

NetSuite makes sure that its implementation is very sophisticated, as it allows implementation partners to give extra care to its accomplishments.

However, the question of why your company should choose Netsuite still stands. Some factors highlight Netsuite ERP's capabilities to boost your business. 

- Through NetSuite, you can run the entire financial management processes, such as accounting, stock, order management, and delivery chain, effectively on the cloud.

- It is one of the most used ERP software applications, and that is why entrepreneurs use it to review their customer relationship management.

- NetSuite strategizes plans for your businesses so they can be followed and implemented accurately and accordingly.

- The platform provides for global business management. Therefore it is efficient in dealing with multiple currencies, countries, subsidiaries, and languages inside a business.

- The eCommerce capabilities of NetSuite ERP facilitate functions in the E-commerce store. You can analyze everything from order administration and point of sale to selling, merchandising, stock, support, and financials.

Irrespective of these mentioned functions, NetSuite always helps to gain agility for progressive growth and well-being.

## Advantages of using NetSuite ERP for your company

[NetSuite](https://mmcgbl.com/netsuite-development/) Enterprise Resource Planning is capable of running business operations efficiently. NetSuite offers the following benefits to businesses.

### It can serve as the only solution for business

NetSuite ERP can solve your business problems single-handedly. It covers almost all business areas, from the financial process to supply chain management. You can lead and run the firm efficiently within a single platform. It converges various needs into a single articulated platform and helps businesses to gain competitive business advantages.

### Biyearly Upgrades

NetSuite updates twice yearly, making the system more persuasive enough to accommodate the changes in technology and business. Moreover the updates help you update your app and provide more facilities.

### Better Decision-Making

NetSuite has business intelligence tools that benefit and help companies while they make decisions, and therefore they lead to productive results. It will also help you achieve your targeted progressive growth and business well-being. It helps understand revenue recognition, charts and figures, and much more influence on better decision-making processes.

## Ending Note

[NetSuite has productive workflow management](https://mmcgbl.com/netsuite-project-management/) capabilities that can effectively align specific business processes into the NetSuite system. Almost [5,791](https://trends.builtwith.com/cms/NetSuite) live websites using NetSuite. With these features, businesses can automate the business process and avoid time spent on manual processes. NetSuite's features are far more complex business processes into more simplified actions. The workflows can manage multiple stages, transitions, and operations more efficiently, thus saving time.