NetSuite is a cloud-based enterprise resource planning (ERP) software that helps businesses manage their financials, operations, and customer relationships. It offers a range of editions, each designed for specific industries and business needs. Choosing the right NetSuite edition can be a daunting task, as it requires a thorough understanding of your business requirements and budget.
Here are some key factors to consider when choosing the right NetSuite edition for your industry:
NetSuite offers specialised editions for various industries, including retail, wholesale distribution, manufacturing, and professional services. These editions come with industry-specific features and functionalities that cater to the unique needs of each industry. For example, the NetSuite Retail edition includes features such as point-of-sale (POS) integration, inventory management, and customer loyalty programs. Similarly, the NetSuite Manufacturing edition includes features like the bill of materials (BOM) management, work order management, and supply chain planning.
It is a good idea to create a team of subject matter experts across the different departments of your business who will be able to provide input as to what features and functionality will be required based on their experiences with your existing systems.
Business Size and Growth
NetSuite offers different editions for small, medium, and large businesses. The NetSuite Small Business edition (NetSuite Starter Edition) is designed for companies with up to 10 users and offers basic financials, CRM, and e-commerce functionality. The NetSuite Mid-Size Business edition is suitable for companies with up to 100 users and offers more advanced financials, CRM, and inventory management features. The NetSuite Enterprise edition is suitable for large businesses with over 100 users and includes all the features and functionality of the other editions with enhanced infrastructure to support heavier use of the system.
It is important to consider your current business size and the potential for future growth.
Selecting an edition that can scale with your organisation will ensure you have access to the features you need to continue running a successful business as it grows.
NetSuite’s pricing is based on the number of users, modules, and functionality required. It’s important to consider your budget when choosing the right edition for your business. Any investment in software should give you an ROI as soon as possible. It’s a good idea to understand what functionality and additional features you are getting and the flow-on effect these will have on profitability and efficiency.
Customisation and Integration Requirements
NetSuite allows for deep customisation and integration with other systems, such as third-party CRMs, e-commerce, and industry-specific software. If you have specific integration or customisation requirements, choosing an edition that allows for these capabilities is important.
Whilst you may manage certain processes in external systems, having the ability to synchronise data for the purpose of consolidated reporting is important. Make sure to evaluate the edition you are considering to ensure it has the right modules that are capable of providing this functionality.
NetSuite for Wholesale Distribution
NetSuite’s Wholesale Distribution edition is designed for companies that distribute physical goods. It offers features and functionalities specific to the industry, such as demand planning, order optimisation, inventory management, warehouse management, and customer service.
The Wholesale Distribution edition also provides built-in dashboards giving you visibility into key performance indicators like demand, inventory status, and shipments. It also has advanced features such as advanced inventory management that help you identify trends, manage serialised and lot-based inventory and analyse sales performance.
Depending on the size of your business and budget considerations, this edition can be a great choice for wholesalers looking to improve their operations, streamline their warehouse and improve inventory management through automations.
NetSuite for Professional Services
NetSuite’s Professional Services edition is designed for companies that offer services such as consulting, legal, or IT services. It provides features like resource planning, time and expense tracking, billing automation, project management, and customer service.
The Professional Services edition also provides a range of dashboards to give you visibility into key performance indicators such as service delivery and contract profitability. It also has Advanced features including project analytics, to help you analyse customer behaviour, sales performance, and project costs.
This edition is ideal for professional services companies that want to optimise their operations and improve customer service.
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NetSuite for Retail
NetSuite’s Retail edition is designed for companies that sell products in physical retail stores as well as online through e-Commerce and third-party channels such as Amazon and eBay. It offers features such as inventory management, POS, order fulfilment, customer service and analytics.
The Retail edition provides a range of dashboards to give you visibility into key performance indicators like sales performance, seasonal trends and inventory status. It also has advanced features such as demand and supply planning, cycle counting and live inventory availability by location.
This edition is great for retailers that want to optimise their in-store operations, improve customer satisfaction and manage multiple channels with one platform.
NetSuite for Manufacturing
NetSuite’s Manufacturing edition is designed for companies that manufacture and assemble products. It offers features such as manufacturing planning, production scheduling, inventory management, order fulfilment and customer service.
The Manufacturing edition gives you the visibility you need into key performance indicators such as labour utilisation, quality control, parts availability and on-time delivery. It also has advanced features such as process traceability, workflow automation and material demand planning.
This edition is ideal for manufacturers that want to improve their operations, reduce costs and improve quality control.
”NetSuite offers specialised editions for various industries, including retail, wholesale distribution, manufacturing, and professional services.Tiernan O'ConnorSales Director - DWR