Choosing the Right Cloud ERP Solution for Your Industry: A Guide to NetSuite’s Industry-Specific Functionality

Posted On March Tuesday 21, 2023

As an organization strives to develop the groundwork for continuous success, creating a multi-pronged business future-proofing approach is the most efficient and trusted shot for success. This gives an organization the best way to overcome any kind of challenge in the future.

A growth-focused, fast-paced organization does not need basic accounting software but a solution with enhanced functionality and seamless integration with other systems and features that can adapt to varying business needs, regardless of the future.

It’s a futuristic way to become a “Process Based Organization, Rather than People Driven Organization!”

An ERP solution can play a critical role as you create strategies for guaranteeing your organization’s long-term viability.      Outdated and version-locked systems are the most common issues of on-premises ERP systems. They challenge their users in the form of a “sunset policy of their old version,” forcing the client to upgrade if they don’t wish to because of huge customization and integration challenges. Exploring other cloud ERP solutions could be the answer to your problems. To cut to the chase, in my view, NetSuite is the top solution for most organizations to keep their Enterprise Resource Planning, cloud financials, and omnichannel commerce operations running.

Legacy Systems Discourage Growth

Most organizations using old technologies depend on disparate systems, drive inefficiencies, witness outgrowth, and experience a significant time sink due to manual processing across all departments.

Have you heard about the recent study by Hitachi Consulting, which quotes that 9 out of 10 business leaders state that legacy systems drive up costs, cause inefficiency, and stop business growth? The study also revealed that 1/3 of the respondents out of 100 IT leaders agreed that legacy systems create barriers and hold back their business.

My answer to all these issues is, “Why not give the best possible experience to your staff and customers with integrated cloud software, such as NetSuite?”

Investing in the Right Cloud ERP Solution

With technology playing a crucial role in our daily business activities, selecting the right ERP software is an important decision. Most studies state that the cloud ERP market will reach nearly $277 million by 2032. Many factors are responsible for this sudden shift in the deployment of Cloud-based ERP software, including the need to concentrate on the primary business objectives such as business continuity, financials, and so on, other than IT processes. Investing in the right Cloud ERP system will help your organization meet the existing business requirements and help you adapt easily as things change.

Regarding cloud ERPs (the future of organizations), different options are available in the market. Each business has a different criterion for determining the right cloud ERP solution. However, there are certain elements that each business should assess. They are:

• Business fit
• Ease of every experience
• Its alignment with your growth goals

NetSuite is the most complete, comprehensive and lowest-risk ERP cloud solution.

NetSuite – The Right Choice

Regardless of your industry, a cloud-based ERP, such as NetSuite, provides personalized solutions that evolve with any business’s needs. So, if you are considering investing in a cloud-based ERP solution, then go through the following points to understand why NetSuite makes for the perfect choice:

• Process Efficiency: Authorizing users to improve productivity and results in innovation. Business processes become more efficient when users can change how things work without relying on external factors.
• Pricing: As a business leader, the crucial factor in deciding on any business investment is the solution’s cost or pricing. NetSuite is a complete winner, allowing users to select and license only the needed modules.
• Safety for business data: Data security is the top priority when selecting a cloud ERP system. NetSuite provides several layers of security backups and is monitored by devoted and loyal professionals with automatic/regular security system updates.
• One system for the whole business: With NetSuite, your  CRM, Warehouse and Inventory, Management, Human Resources, and E-commerce systems are integrated into one platform. This single platform across the organization solves the problems of sourcing, installing, and managing different systems.
• A 360-degree view: NetSuite cloud ERP renders a well-rounded and holistic understanding of any business with real-time analytics and automated reports. Did you know you can easily access key performance indicators such as accounts, sales orders, & receivable items to ship and achieve so much more anywhere at any time using the NetSuite dashboard?
• Scalable: NetSuite evolves just as your organization does. If the size of the team grows, then all you have to do is add additional users to the subscription instead of managing a large infrastructure overhaul.
• Easy Upgrades: NetSuite offers bi-annual upgrades, keeping the software updated with the latest and fully protected features.
• Customizable: NetSuite can easily be personalized and also extends to adapt to multiple business processes, best practices, and so on.
• The Multi-Effect: NetSuite supports multiple languages and several currencies. For businesses that involve numerous subsidiaries under one roof, NetSuite also supports that.
• Enhanced Collaboration: Continuous communication with associates and clients is crucial to improving service delivery. The NetSuite ERP provides a platform for collaborating around financials, projects, and core responsibilities, ensuring clients can access and share relevant business information.

Wrapping Up:

NetSuite has indeed been a game-changer in the Cloud ERP universe. A robust cloud-based ERP software, NetSuite has my vote as the perfect Cloud ERP software. This ERP software is the complete package with an entire cloud-based business management suite for accounting, finance, billing, revenue recognition, risk and compliance, governance, global consolidation, and more.