Enterprise resource planning is the method used by firms to manage and synchronize the essential elements of their operations (ERP). It is well recognized that NetSuite’s ERP is both user-friendly and efficient because it enables you to combine all of your company’s key activities and processes to meet your demands.
Numerous modules that are incorporated into its ERP system make up NetSuite. These modules, which include custom fields and workflow, are designed to improve your business processes. Incorporating NetSuite’s modules can enhance and make your company structure more effective. Of course, your operational processes and particular needs will determine the modules you should include in your organizational structure.
It might be challenging to determine which NetSuite module types are appropriate for you and how to manage them all because there are so many different types available.
We wrote this post to assist you with these choices. Explore the modules of NetSuite with us!
What is NetSuite?
NetSuite is an online business assistant ready to handle and integrate your business’ core operations by centralizing data. Evan Goldberg started NetSuite in 1998 as NetLedger, which offered web hosting for accounting software managementNetLedger.
Zach Nelson, who effectively oversaw the business and raised its revenues to billions, joined the team later in 2002. In the end, Oracle acquired NetSuite in 2006.
What is the number of modules offered by NetSuite?
The two types of standard modules offered by NetSuite are NetSuite CRM and NetSuite ERP. The most well-known is NetSuite ERP. These software programs contain many valuable features that will enhance operations for any business in any industry.
Each NetSuite module gives you the ability to grow your company and make your operations more effective. This will also enable you and your team to concentrate on your primary tasks and manage your time more effectively.
You won’t waste as much time or money if manual tasks can be automated, and you can manage each section of your business with a single system.
Incorporating NetSuite modules also ensure productivity while minimizing human error. The program establishes the workflows and procedures in a step-by-step fashion.
Additionally, NetSuite modules allow you to communicate real-time statistics with your staff on how they are carrying out their tasks. The statistical data is constantly synchronized in a single system, preventing any potentially confusing multiple data entries. Your essential data will always be available to you!
Top-rated NetSuite modules
Let’s look at the most used NetSuite modules and see how they might benefit your business. Knowing each of them will help you choose one to use for your company wisely.
- Module for Advanced Financials – This module is ideal for managing financial processes like costs, invoices, and budgeting. A statistical accounts option in Advanced Financials allows for dynamic allocation calculations.
- Module SuiteBilling – Recurring billing procedures work well with SuiteBilling. With the help of this module, managing NetSuite projects with revenue recognition requirements have become simple.
- A module on Planning and Budgeting – This module provides you with pertinent financial information to aid in business decision-making. Scheduling, modeling, reporting, and workflow excellence all data analysis of data by the Planning and Budgeting module.
- Module for Advanced Procurement – This module converts a large number of requisitions into purchase order numbers. This results in lower transaction costs.
- Module for Demand Planning – With the help of this NetSuite module, you can forecast your future inventory by looking at your historical demand. This module also controls your list. As a result, order consolidation is less expensive. Consequently, you are no longer concerned about running out of stock.
- Module for Contract Renewals – Does your company use a variety of contracts? If so, the subscription system for this module is ideal for handling them.
- Advanced Listing – Your business’ success depends on how you manage your inventory and link your many locations. The Advanced Inventory module reduces the cost of warehousing, fulfillment, procurement, and shipping. This raises consumer satisfaction, as you can understand!
- Fixed Resources – This module assists you in keeping your work organized and modifying your processes to meet your demands. Multiple spreadsheets are no more! Your job is made simpler with Fixed Assets by keeping track of depreciating and non-depreciating assets.
- Module on Warehouse and Assemblies – UPC codes, job management, and inbound reversal to assist your production and picking processes, inventories, and UPC codes.
- Netsuite CRM module –With the help of this NetSuite software, you may obtain up-to-the-minute details about your customers’ purchases by connecting your ERP to their data.
- Module in the Store – The internet and in-store shopping experiences are integrated via this NetSuite module, which provides customer and inventory data.
- SuiteCommerce – SuiteCommerce is the name of NetSuite’s online storefront. SuiteCommerce is natively linked with NetSuite, which ensures an outstanding user experience – one of the most significant advantages of adopting it. For businesses to prosper, relying on an integrated eCommerce and ERP system is essential.
- Suitecommerce Advanced (SCA) – NetSuite’s SuiteCommerce Advanced module is a high-end e-commerce solution. SCA connects your business’s essential operations with both eCommerce and ERP. This includes inventories, orders, marketing, finances, and customer service management. SCA creates the best possible global web stores.
- Module for Advanced Revenue Management in NetSuite – One of the best ERP modules is this one! It guarantees complete control over your business operations and acknowledges each industry’s revenue.
- Module for NetSuite Manufacturing – Businesses can construct their workflows in NetSuite Manufacturing to manage each step of the production process.
- Module of NetSuite Accounting – The best option among the NetSuite financial modules is the NetSuite Accounting module. You can fully manage all of your financial transactions thanks to this module. It guarantees organized financial management. Teamwork is also made possible. You can also customize your transaction preferences and save them for use in the future.
- The human capital management module, SuitePeople – As the name suggests, it was developed to improve your team management on an individual and group level. SuitePeople enables you to keep track of timing and generate reports on productivity.
- Module for NetSuite Professional Services Automation – You can develop guidelines for handling each of your clients using NetSuite PSA, enabling you to build numerous autonomous projects for each team.
- Module for NetSuite Quality Management – This NetSuite solution manages product quality and establishes quality procedures, rules, and standards.
Conclusion
Taking Your Business to the next step can only come to reality if you have the right expertise to deliver outstanding solutions. At Seibert Consulting Group, we specialize in delivering modern solutions to businesses that aim at taking full advantage of the eCommerce platform. We always customize our solutions to align with Your Business’ requirements and goals. Let’s start talking about your project and find out how we can help Your Business grow. Get in touch with us via our chatbot or email at hello@seibertconsulting.com and via our direct line at 760-205-5440.
