As businesses constantly undergo digital transformation to improve efficiency and productivity, choosing the right ERP tool is vital. While a company can choose from diverse ERP software solutions, Oracle’s NetSuite is one of the best options.
Before choosing the right software for a business, it is imperative to understand the advanced features that Oracle NetSuite offers. Doing so helps to make an informed decision when choosing ERP software, the ERP software consultant to hire for implementation, and how to maintain the program properly.
This blog post examines some of the advanced features of Oracle NetSuite.
Advanced Features of Oracle NetSuite
Netsuite often adds new features and capabilities to the ERP tool to make it more efficient and easier for businesses. These updates also make Oracle cloud implementation easier and more streamlined.
Below are some of the top features of the ERP tool:
SuiteAnalytics for Better Decision-Making
SuiteAnalytics is arguably one of the top tools offered by Oracle NetSuite. It provides business intelligence features for decision-makers to make better and more efficient decisions.
This feature is vital for exploring and reporting data in real-time without installing complex data warehousing solutions.
Here are a few essential benefits of SuiteAnalytics:
- Create custom dashboards in SuiteAnalytics to obtain a complete view of business operations.
- Speed up decision-making with the help of various built-in Key Performance Indicators (KPIs) and reports.
- Create customized reports and dashboards within SuiteAnalytics per the business’s unique requirements.
SuiteFlow for Automation of Business Processes
SuiteFlow makes it easy for businesses and ERP system consultants to streamline and automate diverse business processes. The software offers an easy-to-use and point-and-click UI for anyone from Oracle Netsuite partners to beginners to use the feature seamlessly.
Businesses can use this advanced feature to build tailored workflows for their operations precisely as required, whether working on the ERP themselves or with the help of an ERP consulting firm.
Here are a few benefits of SuiteFlow:
- Quickly automate the approval processes for various activities, such as expense reports, invoices, sales orders, etc.
- Automated workflows help expedite business operations while ensuring full adherence to company policies.
- Automate notifications to concerned third parties, teams, or Oracle Netsuite partners.
SuiteScript for Customization Using JavaScript
Sometimes, a business or an ERP software consultant may require high-level customization to tailor the system to specific needs.
This is where SuiteScript from NetSuite comes in handy.
SuiteScript is a JavaScript-based API that enables ERP system consultants and developers to create custom business logic to automate unique processes that are applicable only to a specific business.
Here are a few benefits of SuiteScript:
- Create custom and unique record types to gather details specific to an industry, department, or business model.
- Use the custom record types along with the standard business records to understand business data and generate deeper insights.
- Create specific scripts that can be initiated with certain actions for better workflows and operational efficiency.
SuiteCloud Platform for Scalable Operations
Businesses may need to expand the capabilities of the Oracle NetSuite platform. SuiteCloud allows firms to do just that, even if a digital transformation consultant must be hired for this expansion. This capability is vital for businesses trying to grow and expand to newer markets.
This platform-as-a-service (PaaS) enables companies to integrate NetSuite with numerous third-party tools, customize their platform, and create tailored apps.
Here are some of the top benefits of using SuiteCloud:
- Use SuiteTalk to integrate third-party business systems with NetSuite, such as e-commerce platforms, CRM, data analytics tools, etc.
- Ensure faster and more efficient flow of relevant data and reports between different parties, departments, other stakeholders, etc.
- Use SuitBundler to package diverse customization, dashboards, workflows, etc., within Oracle NetSuite to deploy them across different NetSuite accounts.
OneWorld for Global Operations Management
With OneWorld, businesses can manage their global operations from a single platform. This allows companies to manage multiple business units, subsidiaries, remote teams, and more. An added benefit is that this can be done without customizing NetSuite or working with an ERP system consultant.
As businesses are quickly becoming global, with customers spreading across diverse countries, OneWorld helps bring operations under a single roof, leading to better efficiency, productivity, and profitability.
Here are a few benefits of using OneWorld:
- Comply with different business and statutory requirements, such as business laws, tax, etc., in diverse countries as applicable.
- Carry out businesses in diverse currencies without the complexity of exchange rates and cash flow across borders.
- Manage and ensure the efficiency of inter-company transactions, such as purchase orders, sales, invoices, etc., across different countries.
SuiteCommerce to Manage E-commerce Business
E-commerce operations have now become the backbone of any business. Hence, it is vital to integrate e-commerce operations into the ERP system for better tracking and resource management. SuiteCommerce allows for a smooth integration within the Oracle NetSuite platform. Businesses can either do it themselves or hire an ERP consulting firm to help. With NetSuite’s SuiteCommerce, companies can quickly add their e-commerce operations to the ERP processes.
Profit from better inventory management, purchasing, and sales from a single platform. These streamlined operations make resource planning and e-commerce operations more efficient and productive.
Here are a few benefits of using SuiteCommerce:
- Deliver consistent and unified customer experiences across multiple channels, like in-store, mobile devices, and websites.
- Ensure better inventory management and avoid over or understocking to keep customers satisfied while optimizing inventory.
- Gather deeper insights into e-commerce operations to understand the business better and make informed decisions.
Stay Ahead of the Curve with Oracle NetSuite
Customers expect faster, more efficient, and top-notch services from businesses, whether selling them services or products. With more enterprises adopting digital solutions to serve customers better, the room for inefficiency and errors is zero. That is why using feature-rich and robust ERP platforms like Oracle’s NetSuite is vital. Hopefully, the advanced features discussed will encourage more businesses to try the platform.
Choosing the platform is only half the battle. Businesses should work with a digital transformation consultant to help implement the platform successfully in their organization.
If your business is looking for a reliable NetSuite ERP system consultant, BigBang 360 is one of the best ERP consulting firms in the field.
