The Oracle NetSuite Enterprise Resource Planning (ERP) system is a comprehensive and scalable cloud ERP solution that is aimed at businesses of all sizes. The scalability of the NetSuite is very powerful and it can be expanded/contracted as per the requirements of your business organization. That makes it perfect for fast-growing mid-range and large-sized businesses as well. It fully automates a lot of front-end and back-end processes including financial management, fixed assets management, personnel management, revenue management, inventory management, billing, and overall resource allocation.
NetSuite will enable you to make data-driven and well-informed business decisions because it combines financial management operations with built-in business intelligence features. It will also optimize your production process and enable you to allocate raw materials, labor and other resources in an efficient manner. The NetSuite ERP also makes warehouse management a very simple task. Since it is a comprehensive system that takes care of all your needs, you can also save a lot of money by cutting down on unnecessarily expensive software investments.
Here is a short explanation of all the features that the Oracle NetSuite will offer.
1. Accounting and Fixed Asset Management (FAM):
The NetSuite ERP has all the necessary accounts management features like Audit Trail Visibility, Order-to-Cash, Tax Management, and Procure-to-Pay. It also offers FAM features such as Workflow Management, Flexible Depreciation Management, and Integrated Financial Reporting. Using all these features, you can maintain a strict watch on your organization’s finances and also conduct proper financial planning.
2. Inventory Control and Warehouse Management:
This Enterprise Resource Planning system will also enable you to control your organization’s warehouse system and maintain an optimum inventory level. By using the inventory management features like Order Fulfilment, Inventory Control, and Inventory Visibility, you can enjoy significant savings. By using the Cost Management function of NetSuite ERP, you can cut down on unnecessary inventory costs as well and maintain an optimum inventory level.
3. Manufacturing Management:
The manufacturing floor is the most important element of any organization and the manufacturing management function of the NetSuite ERP enables you to allocate resources efficiently and streamline your production plan. The NetSuite manufacturing management features that you can enjoy include Shop Floor Management, Manufacturing Routing, Materials Resource Planning (MRP), Bill of Materials and Product Costing.
4. Billing Management and Invoicing:
Using the NetSuite ERP, you can also enjoy the convenience of an integrated and comprehensive billing and invoicing management system. The features included in this module are Flexible Billing Scheduling, Shipping and Fulfilment, Recurring Revenue Management, Incentive Compensation Management, Human Resources Information System, Payroll Management, Human Capital Management, Integrated Process Workflow, and Revenue Recognition Management. You can also manage your personnel in a more efficient manner by utilizing the NetSuite Tribe HR software included in the whole ERP system.
5. Demand Planning:
You can also save a lot of time and money by utilizing the demand planning features that include Demand Planning Engines, Supply Chain Intelligence with MRP, and Gross Requirements Inquiry.
These key features Oracle NetSuite ERP software make it the most comprehensive business management product that is available now. It is the most recommended tool for all business organizations, irrespective of sizes and scale.