Reasons to Choose Oracle NetSuite as your ERP

Selecting the right Enterprise Resource Planning (ERP) solution is a pivotal step for businesses seeking to connect processes, gain visibility into operations, and scale growth. The stakes ride high on choosing a system that can accelerate the business rather than hold it back. Oracle NetSuite stands out as a prime candidate to catalyze transformation through a unified cloud platform purpose-built with modern businesses in mind.

Here are ten compelling factors that set NetSuite apart:

1. Unmatched Customization

While NetSuite shines across hundreds of out-of-the-box capabilities, the platform’s ultimate superpower is enabling customization to unique business needs without coding. The simple point-and-click interface allows administrators to tailor record types, fields, forms, workflows, roles and permissions, reports and more to support specialized practices and analytics.

According to Forrester Research, over 60% of NetSuite customers surveyed leverage customization and third-party apps to enrich platform capabilities. Whether creating 19 language versions across microsites or managing source codes of software product releases, NetSuite orients around the ideal user experience.

Retail grocer Fresh Market rapidly integrated an acquired chain of 21 stores into its operations by creating custom reorder processes combining store-specific history with idealized corporate standards for smarter purchasing. HighRadius designed specialized real-time dashboards and reports across finance and collections supporting their AI receivables software built atop NetSuite.

The SuiteCloud platform further enables developers to package custom objects, fields and scripts into installable SuiteApps. Oracle vetted these add-ons available through SuiteApp.com similar to smartphone app stores. This amplifies customization into reusable components usable by other NetSuite users.

2. Real-Time Analytics

NetSuite unlocks a singular version of truth through integrated analytics across the unified data model spanning ERP and CRM capabilities. Multi-dimensional reporting and pivoting rather than static snapshots empower diagnostics. User-friendly dashboards auto-populate to accelerate insights without manual composition in Excel.

Beyond out-of-the-box templates, custom reports combine data markers from across records – for example tying actual regional demand to sales forecasts to production capacity. Iterating through metrics in meetings becomes a discussion not data exercise with everyone viewing reports on the same page. Integration with Oracle Analytics Cloud provides AI-driven narratives explaining key trends along with predictive recommendations to improve outcomes.

According to Nucleus Research, companies accelerate reporting cycles 66% through flexibility simplifying cross-department data blending outside IT bottlenecks. Executive decision cycles improved by 41% through timely access to integrated information. 87% of NetSuite customers confirm operational metrics directly influence day-to-day priorities – a testimony to actionable analytics.

3. Global Business Enabled

NetSuite natively consolidates financial reporting across 190+ currencies and 15 languages bridging global businesses. Localized dashboards display region-specific KPIs (like European turnover rates) alongside consolidated worldwide numbers. Consumption tax support smoothens B2C and B2B transactions across 110+ countries aligning to destination rules.

Automation streamlines periodic tax filings and invoicing mandated locally across jurisdictions saving finance teams from manual tracking. NetSuite payroll interfaces simplify country-specific wage processing in the cloud through partnerships. These capabilities help MultiChoice expand it’s satellite TV business across Africa and Eastern Europe maintaining compliance.

Beyond languages and currencies, NetSuite adapts around nuances across international markets. Pearson customized six country editions of NetSuite to respective business practices while still providing global visibility. Global software firm Celigo implemented auto-calculation of value-added-tax line items in NetSuite invoices corresponding to over 40 locations. Such localization lifts geographical limits on scaling growth.

4. Smooth Omnichannel Commerce

Modern customers engage across multiple touchpoints from online to in-store to phone and back, transacting on their own terms. NetSuite unifies all these experiences onto a shared data foundation providing consistency in pricing, promotions, order visibility and item availability. Integration to POS (point-of-sale) systems and ecommerce platforms like Magento, Shopify and BigCommerce bridges physical and digital operations.

Businesses process online transactions, in-store sales and telesales orders across the unified ERP without rekeying data. Shoppers enjoy BOPIS (buy-online-pickup-in-store) and BORIS (buy-online-return-in-store) conveniences once channel silos converge. Contact center reps possess identical inventory data as store clerks enhancing omnichannel credibility.

According to Forrester, 93% of B2C companies today operate across four or more sales channels. NetSuite synchronizes all avenues behind the scenes – for example ensuring items discounted online are reflected on in-store price tags. This cements loyalty driving omnichannel customers spend 4% more per transaction.

5. Agility Accelerates Innovation

Changing business models demand software keep in lockstep not defensive catchup. NetSuite’s componentized architecture activates capabilities pushing the pace of innovation. New features embed natively into existing deployments without disruptive platform migrations.

The Spring 2020 release spanned over 200 product enhancements just 3 months after the prior upgrade. Teams instantly switch on added functions as needed avoiding version lock-in or waiting on IT projects. One click upgrades SmartCal automated supply/demand modeling capabilities for existing planning users illustrating seamless progress.

For fast-moving innovators like 3D printer manufacturer MakerBot, NetSuite circumvents dealing with inflexible systems. “We reinvented the manufacturing process. NetSuite gives us the power to recreate business systems,” notes CEO Jonathan Jaglom. Such longevity enables growth experiments – not fighting rigid technology.

6. Proven Cloud Security

While NetSuite leads Gartner’s Magic Quadrant for Cloud Core Financial Management Suites for Midsize Businesses, executive concerns around data security persist, especially when replacing on-premise servers. NetSuite assures resilience through layers of access controls, redundancy infrastructure, regular audits and encryption meeting global compliance standards.

• Layered access controls: Multi-factor authentication, session timeouts, OAuth usage, IP restrictions and mandatory regular password changes limit unauthorized system access even if credentials are compromised. Cyberattack prevention begins with user vigilance.

• Infrastructure resilience: Multiple active-active data centers across geographies with immediate failover prevents downtime from localized disruptions. Point-in-time database backup lowers recovery overheads.

• Audits: Over 275 third-party audits annually uphold SOC 1 Type 2, SOC 2 Type 2, PCI-DSS v3.2 and ISO 27001 certifications along with HIPAA support – extensive validation of controls.

• Encryption: SSL certificates during transmissions and AES 256-bit encryption for data-at-rest prevents decoding of information outside authorized channels.

Customers like Cushman & Wakefield trust NetSuite security sophistication across mission critical global finance and operations serving Fortune 500 tenants and protecting sensitive building infrastructure data.

7. Suitescripting Drives Composite Applications

While customizable through configuration, adapter scripts extend NetSuite’s process and entity reaching using JavaScript. Client events based scripting creates add-on composite applications that feel native to ERP users by directly accessing business objects. Interactive screens enforce complex logic otherwise requiring external coding. Javascript debugging improves authoring productivity inside the interface.

KLĒR Luggage layers composite apps over NetSuite for RFID bag tracking paired with warranty expiration claims processing – functionality impossible out-of-the-box. Celigo built an automated quote-to-cash application combining CRM and ERP dataflows atop NetSuite to accelerate deal conversion across B2B sales teams. The ability to augment environment functionality rather than settle for constraints unlocks innovation.

Advanced developers enrich functionality using REST APIs and SuiteTalk SOAP web services interfacing external databases and applications. Light coding declared through scripts outpace complicated software development needed on legacy platforms. No proprietary language skills constrain options – Javascript skills transfer directly from ample web talent pools.

8. Unified Partner Ecosystem

SuiteApps packaged add-ons allow NetSuite users to share custom functionality honed by industry pioneers exploring next practices. With solutions spanning cash management, revenue recognition, global trade management, CRM and hundreds more, SuiteApp.com fills common needs organizations install natively. Sampling buyer sentiment analytics or adding advanced budgeting need not require new systems.

Partners co-innovate leveraging SuiteCloud platforms benefitting joint customers with faster iteration over industry needs than any vendor can singularly achieve. Oracle partners like Coupa activate strategic solutions for Procure-to-Pay processes while TD Ameritrade deliver secure capital raising workflows for private equity portfolio management fully integrated to core ERP. This multiplier effect accelerates solution breadth through shared best practices.

9. Flexible Business Models

Legacy ERP license procurement required multi-million dollar upfront capital investment then additional 20% annual support fees. But fixed capability software demanded extra modules and custom coding addressing stable needs amid market volatility. Cloud subscription models based on usage better align to business variability.

Elite textbook publisher Macmillan Learning transitioned multiple content imprints to NetSuite on a single tenant. By adding divisions constrained only by role limits not software fees, the unified platform cost-effectively scaled across expanding brand needs. Law firm pioneer LegalZoom gained actionable insights across 1000+ employees by simply integrating NetSuite with existing CRM and marketing systems into a hybrid cloud.

Hybrid consulting combo Slalom combines NetSuite with specialized solutions for targeted capability boosts across retail, healthcare and industrial verticals. This lean pairing limits enterprise sprawl keeping complexity focused on unique differentiators. For fast changing markets, right fit first beats exhaustive but inflexible mega suites. NetSuite enables configuring to what’s needed when versus everything imaginable upfront.

10. Stability Over Promises

ERP impacts day-to-day operations so skeptical business leaders rightly weight stability over exciting pitches promising futures. NetSuite‘s experience scaling companies to IPO and beyond ensures adding new functions won‘t destabilize core practices. The track record spans 21 years and counting of above 99.5% verified uptime across 8 million users.

Behind the scenes continuous delivery cycles iterate multiple upgrades daily keeping disruption incremental even for quarterly releases. While competitors scramble to reverse engineer monolithic code into cloud portability, NetSuite‘s DNA stands battle tested. Always-on accessibility, redundancy infrastructure, customer-driven roadmaps and proven speed to resolution ensures swift diagnoses and restoration of any interruptions.

Evaluating The Right Fit

The above guide highlights key strengths NetSuite delivers for unified business visibility and coordination. Ultimately identifying the right fit ERP aligns to which capabilities resolve the most critical blocks slowing the organization down, risks threatening continuity, or costs limiting competitiveness. Defining these tangible outcomes expected then mapping solution attributes to those needs guides intelligent investments. For many companies, NetSuite offers the right configuration capabilities, integrated analytics and global support accelerating future progress over promises still on drawing boards.