Netsuite software is on demand, fully integrated software suite that includes accounting software, enterprise resource planning, customer relationship management and e-commerce store front for small and medium sized businesses. Generally small and medium sized companies need to tie up with different vendors for economical and on demand solutions which creates different interfaces and use of different technologies within an organization while Netsuite provides one single enterprise wide hosted ERP application with best of breed solutions.
Netsuite is very flexible as it comes with NS-BOS technology which facilitates its users to customize the software according to their needs. NS-BOS is similar to platform as a service which allows main applications to be customized and extended to meet industry specific needs. This customization lowers software cost and recurring maintenance expenses along with ease of working and understanding the system. Netsuite uses Oracle at the backend for data storage which further increases its reliability and efficiency, the program has been coded in Java.
ERP software of Netsuite covers major aspects of business of an organization. Financial management of the Netsuite ERP is relatively strong and robust and has advanced features like budgeting, planning, expense allocations, deferred revenue recognition and custom billing schedule. Supply chain management covers all the necessary features required for smooth supply and utilization of resources for production. It can handle multiple warehouses and multiple bin inventory management along with facility to choose suitable inventory valuation methods.
CRM module of Netsuite ERP may not have flexibility and variety of facilities compared to other established products in the market but it can suit well to the requirements of small and medium sized companies. Manufacturing too is not Netsuite ERP software's forte and company has recently extended its module to support some of the activities related to core manufacturing. However manufacturing module has sufficient features to support assembly operations generally required by SMB. Human resource module also lacks in depth functionality to fulfill demands of an organization having large number of employees.
Netsuite business intelligence provides facilities like dashboard display throughout the application containing KPI which are updated and refreshed in real time. The KPI can be modified and created as per requirement of the user as well as user can drill down from KPI results to access the source document.
Netsuite has excelled mainly in distribution and wholesale and in service based industries due to its robust and powerful financial management module. However software needs serious enhancement in terms of facilities and capabilities to provide effective solution to large and companies working at multiple locations. Data reliability and backup facilities have been in question too as it has been declared that Netsuite does not have any backup center other than its main center. However Netsuite is a competitive solution for SMB as it is available in an integrated format with necessary modules and functionality at an affordable price. SMB instead of using three different applications for accounting, SCM and CRM prefer to choose Netsuite ERP solution. With cloud computing getting popular day by day Netsuite is expecting to gain lead over other solutions in near future.