Frequently Asked Questions
You know you need a new ERP software, but before you dive in, you should understand the basics of this often-misused technology. Once you understand the basics, you can develop an ERP strategy with us.
What is ERP?
ERP-Enterprise resource planning is the integrated management of main business processes, often in real-time and mediated by software and technology.
What is NetSuite?
NetSuite is a cloud-based SaaS ERP running on Oracle databases, particularly aligned with small to medium enterprises. NetSuite also has a One World version accommodating businesses operating across multiple countries and currencies and/or with multiple subsidiaries.
What are the benefits of NetSuite?
A single data set: All core reporting and searches are real-time Cloud-based SaaS: No capital outlay on infrastructure Low cost for an ERP: Very competitive pricing in comparison to SAP, Microsoft GP, Oracle, Salesforce and most — if not all — other well-known vendors Financials are excellent: NetSuite was built from Oracle Small Business (aka NetLedger) with the backing of Larry Ellison, co-founder of Oracle Highly customisable via the GUI front-end or scripting: Includes workflow and custom fields, lists and records/tables Extremely powerful front-end search functionality for all users: Enables everyone to create and extract reports for themselves Extensively customisable: Custom management and operational dashboards and reports Supports complex businesses: Supports businesses with multiple locations/warehouses, foreign currencies, subsidiaries and multi-national presence Report on any transactional information by any or all of the following: Location, Department and Class, or custom segments, allowing a business to slice and dice it’s reporting while maintaining a simple General Ledger/Chart of Accounts Only pay for the modules you need Particularly suited to small and medium sized businesses Relatively user-friendly interface
What kind of companies use ERP software?
Enterprise systems are beneficial to companies regardless of size or industry. In recent years, small- to mid-sized companies have fueled most of the growth in the ERP industry. While large enterprises dominated ERP usage in the past, niche solutions have made it possible for smaller businesses to implement an ERP system. Companies pursuing digital transformation often implement software to enable their digital strategies. These companies use technology to create new business and operating models. Their goal in implementing new technology is to improve data insights and the customer experience.
How much does ERP software cost?
Enterprise systems for larger companies (Tier 1 ERP systems) tend to cost more than niche software. However, even the larger vendors offer point solutions that can be implemented individually. Companies can save money by only implementing the functionality they need instead of implementing a full suite of solutions.
ERP vs. CRM software: What’s the difference?
Customer relationship management (CRM) software is a type of enterprise software that automates the sales and marketing functions of a company. Many vendors include CRM software in their full suite of solutions, but some companies take a best-of-breed approach. They’ll implement a CRM system from another vendor and integrate it with their main system.
Are there major risks associated with ERP systems?
While ERP has the potential to provide numerous business benefits, it can also be a risky proposition. If not managed properly, ERP projects can cost more and take longer than expected. They can also cause operational disruption and employee resistance.