The NetSuite software company provides a cloud-based business management platform used by more than 32,000 fast-growing global companies. Using that platform, companies can run their businesses, understand their performance, and save money and resources by improving efficiency and reducing costs.
Finance, accounting, inventory, orders, and procurement are all managed by the ERP system of the company. Customers can add options including CRM for sales, service and marketing automation, human resources (HR) for personnel records, performance management and payroll, professional services automation (PSA) for planning and tracking projects, as well as omnichannel commerce for both online and in-store sales. A common database is shared by all of these modules. The central data source allows authorized users across business functions to access information from across the system in real time.
It gives leaders a 360° view of their business in real-time, so they can see which processes or departments are performing well and which need improvement.
The software as a service (SaaS) model is used by NetSuite: Customers pay a subscription fee to access the technology, but they don’t have to worry about underlying infrastructure or system maintenance, such as purchasing and setting up servers, installing software, testing and deploying patches and upgrades. With two software updates per year, Oracle NetSuite handles all of that for customers.
Maintenance and upgrade costs associated with on-premises solutions can be eliminated, freeing employees to focus on the company’s mission.
SaaS also offers scalability: Businesses can add functionality as they need it without worrying about infrastructure and staffing. If a B2B manufacturer decides to sell online, it may add NetSuite’s ecommerce module.
Through a single source of real-time information and the ability to add modules on demand, NetSuite gives businesses visibility and control. As a result, they become more efficient and agile.