NetSuite accounting software is more than just simple accounting software. It combines features such as Enterprise resource planning (ERP), Customer relationship management (CRM), e-commerce software capabilities, Inventory management and Accounting to provide a complete business driven application.
Powered by SAAS (software as a service), it is used by businesses across the globe - from small enterprises to large corporations. From an accounting perspective, NetSuite application can be used to easily manage bookkeeping, payroll, order fulfillment, purchasing and billing among others.
Further, it tightly integrates sales and CRM components, thereby helping your business automate critical functions affecting your bottom-line. Its detailed analytics and reporting tools give you a bird's eye view and allows deep dives into the financial health of your business.
Though NetSuite can easily be used to manage your accounting and financial data, its power lies in other key modules that tie in all operational areas of your business. Let's take a look at those -
This module is the core powerhouse that integrates all your financial processes and back office operations. This includes accounting, order fulfillment, inventory management and supply chain management among others.
This module automates your sales processes providing features such as opportunity management, customer lifecycle management, order management, proposal management and customer service.
The e-commerce module integrates with the ERP and CRM modules to manage and maintain your webstore backend such as shopping cart management, marketing and analytics.
NetSuite OneWorld provides extension to ERP and other modules and can be completely run over the cloud. From managing regional and local taxation to customizing accounting regulations, this module is a powerful tool to run your business operations without infrastructural overheads.
This module is another flagship component that provides complete professional services automation (PSA) including timesheet management, project management, project resource management and accounting. It also provides drill-down and ad-hoc dashboards and reports for collaborative project teams.
SuiteCloud extends NetSuite's capabilities by allowing third party add-ons and tools for tailoring NetSuite. Instead of the traditional approach of customizing software to work with other legacy systems, SuiteCloud allows organizations to work with other ERP solutions, CRM services and a host of other business applications.
Though NetSuite has a definite edge over other accounting software in the market, working with advanced features such as NetSuite integration needs more than just hiring resources. You'll need to identify the right partner who has the in-depth accounting experience and software knowledge acumen. Outsourcing backend management of NetSuite accounting can save you from expending on resources and administrative overheads that your business has to bear otherwise.
Flatworld Solutions can work with your organization in managing your business financial needs using NetSuite. For over 19 years, we've worked with a host of accounting tools including web based accounting services. Our team of software professionals, accountants and financial analysts can help you with all your NetSuite accounting needs. Further we can also work on NetSuite implementation customized to your organization's needs.
Read our detailed article to find out which CRM system is better, NetSuite or Salesforce.
We can support clients running any NetSuite application, remotely, accurately, and securely, with great ease. Get in touch with Flatworld Solutions to discuss how we can help you're your NetSuite requirements.
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