NetSuite OneWorld helps multi-venue hospitality groups stay ahead of their competition by simplifying operations and providing comprehensive real-time insights. With its powerful business intelligence tools, hospitality groups can get a 360-degree view of all venues within their group. This allows them to quickly respond to market changes, better manage customer and vendor relationships, and make informed decisions about their businesses.
NetSuite also helps hospitality groups streamline their processes, from accounting, to payroll and inventory management. By integrating the entire hospitality enterprise into one platform, NetSuite reduces costs by eliminating redundant systems and manual processes.
What is NetSuite OneWorld ?
NetSuite OneWorld is a cloud-based business management solution designed for multi-venue hospitality groups with a large number of locations, even in multiple countries. It enables them to manage their entire enterprise from one system, including order processing, invoicing, payments and customer relationship management (CRM). NetSuite also supports advanced features such as tax reporting and compliance processes, financial consolidations, multi-currency and multi-language support.
Until recently, the cost of implementing NetSuite OneWorld was a sticking point for hospitality groups with many locations in a single country. However, in 2019, NetSuite announced dramatic changes to their pricing structure that made it much more affordable for hospitality groups.
What’s Changed with NetSuite OneWorld’s Pricing Structure for Hospitality Groups?
As of 2019, NetSuite changed how it structures pricing for subsidiaries within its standard accounts. Before 2019, customers, like hospitality groups, who typically have a large number of subsidiaries in a range of locations, would need to purchase additional subsidiary licences for each required subsidiary above the included three that came standard.
However, in late 2019, Oracle NetSuite changed its pricing structure for its OneWorld product to include unlimited subsidiaries within a single country location, meaning that the TCO (total cost of ownership) was drastically reduced for hospitality groups that have a high number of subsidiaries by primarily operating locally.
The changes in NetSuite’s OneWorld pricing make it much more cost-effective for hospitality groups with a large number of subsidiaries. With unlimited subsidiaries within a single country, they no longer need to invest heavily in additional licences. As a result, hospitality groups can take advantage of the powerful capabilities that come with NetSuite OneWorld, such as real-time insights, streamlined processes, and improved customer experience.
By using NetSuite OneWorld, hospitality groups can save time, money and resources while gaining greater visibility and control over their entire enterprise. It’s no wonder that the new pricing structure has made NetSuite OneWorld a much more attractive solution for hospitality groups.
The Benefits of NetSuite Multi-Venue Hospitality Groups
NetSuite Multi-Venue Hospitality Groups allows companies to manage multiple venues, such as restaurants, hotels, and event spaces, from a single platform. This can provide several benefits, including:
Improved efficiency
By centralising all operations, large hospitality groups can streamline processes and reduce duplication of effort. For example, instead of having to log into multiple systems to manage inventory or track sales, all of this can be done from one platform. This can save time and reduce errors.
Better data visibility
With all data in one place, managers can easily track performance across all venues, identify trends, and make informed decisions. For example, a manager can see how sales are performing at each location (with the right permissions), which items are selling well, and which are not. This can help the manager identify areas for improvement and make changes to increase revenue.
Better customer experience
With all customer data in one place, companies can provide a more personalised customer experience and improve customer loyalty. For example, a restaurant can track what a customer has ordered in the past and allow the waitstaff to offer personalised recommendations based on historical dining choices.
Increased scalability
As the company grows, it can easily add new venues and manage them from the same platform. This eliminates the need for additional software or IT resources, and allows the company to expand without incurring exponential additional costs.
Cost savings
By reducing the need for separate systems and processes, companies can save on software and IT costs. For example, instead of purchasing multiple systems to manage inventory or track sales, all of this can be done from one platform. This can also reduce the need for additional IT staff to manage multiple systems.
Improved inventory management
By tracking inventory across multiple locations from one system, companies can ensure they have the right products at the right venues at the right time. This can help reduce waste and increase revenue. For example, if a restaurant is running low on a particular item, the manager can see this in real-time and order more before running out.
Improved financial reporting designed for hospitality
By consolidating financial data across all venues, companies can get a complete picture of their overall financial performance, allowing them to make better decisions and identify areas for improvement. For example, a manager can see how much revenue is being generated at each location and identify which locations are performing well and which are not. This can help the manager make changes to increase revenue and profitability.
”NetSuite Multi-Venue Hospitality Groups allows companies to manage multiple venues, such as restaurants, hotels, and event spaces, from a single platform.
Tiernan O'ConnorSales Director - DWR
The Wrap Up
NetSuite OneWorld is an ideal solution for hospitality groups that need to manage multiple venues from a single platform. It can provide the features and functionality needed to streamline operations, improve customer experience, and increase efficiency. With its new pricing options, it’s now more affordable than ever before. Many companies have already seen success with NetSuite, including Solotel Group, which has used the platform to improve its operations and increase revenue. If you are interested in learning more about what NetSuite can do for your hospitality group, reach out to the experts at DWR for an obligation-free discussion.
About DWR
DWR Consulting is a NetSuite Solution Provider and strategic business partner that specialises in providing custom solutions for the hospitality industry. We have worked with many of Australia’s leading hospitality groups, from single-venue restaurants to large multinational chains, helping them to streamline operations, reduce costs, and improve efficiency.
