In these unpredictable economic times, businesses of all sizes are searching for the best enterprise resource planning (ERP) solution to improve their day-to-day operations through heightened productivity and efficiency. While there are numerous ERP options, each company needs to determine the solution that best fits its needs, which can be challenging.
Today’s industries have found a solution via the cloud. Cloud computing supports enterprises in finding a highly workable and strategic business model. By utilizing a cloud-first strategy, businesses found that the cloud’s true benefit lies in its ability to allow the Service Level Agreement (SLA) of an entire solution, instead of merely its various components. Other benefits include increased reliability and faster development processes, all while reducing risk, complexity, and the total cost of ownership. The true cloud is a more concise and precise way of developing your business.
Not every cloud provider has the ability of a fully integrated system, thereby leaving some of the management tasks up to your team members.
What Is Oracle NetSuite ERP?
Oracle’s NetSuite ERP is an all-in-one solution that automates the monotonous daily processes while offering heightened visibility and real-time insights. This level of visibility allows managers a precise look across departments and the ability to keep the enterprise in sync. Decisions are fast and highly informed, ensuring that work is efficient and timely.
NetSuite, a leading cloud ERP solution, strives to provide a true cloud platform as well as to develop an integrated suite for a global customer base of 24,000 and counting. The company is able to boost customer success through fast deployment and quicker return revenues than other more traditional platforms.
Known as the first true cloud ERP, Oracle NetSuite ERP is considered by numerous companies across various industries as the best. These industries are wide ranging, and include but are not limited to:
- Advertising and Digital Marketing
- Apparel, Footwear, and Accessories
- Education
- Energy
- Financial Services
- Health and Beauty
- Healthcare and Life Sciences
- Food and Beverage
- Manufacturing
- Transportation and Logistics
- Wholesale Distribution
What Is Cloud ERP?
Cloud ERP is an easily deployable software as a service (SaaS) model that hosts the ERP system on a cloud server. The data acquired via the system is stored and processed on the cloud and is accessible to users from the internet.
Businesses note the accessibility of cloud ERP as one of its advantages. It gives employees the ability and safety to work remotely, which has become a greater priority in recent years. In addition, businesses have the freedom to expand operations to a new physical location without the hindrance of setting up new IT infrastructure or adding/moving physical servers. The software and data are available from anywhere at any time, giving businesses the autonomy and flexibility to operate as they need to.
How Is a True Cloud Solution Different from Other Cloud Services?
True cloud service providers construct their platforms specifically and exclusively in the cloud. The software is developed with that purpose in mind so that it functions as a fully-hosted solution. An enterprise will then hire an expert to host, maintain, and manage cloud ERP services throughout the business.
The key difference between a true cloud solution and one that is either hosted, private, or hybrid is that true cloud is multi-tenant, which means that multiple single instances of code run on one server. This could look like the server being used by many organizations at the same time.
True cloud ERP is a multi-tenanted software that provides the benefits of both on-premise and cloud-based ERP solutions. Most importantly, multi-tenanted ERP systems are extremely secure. Data is stored on a single server, which allows for severe and advantageous security protocols.
A true cloud ERP solution delivers flexibility and cost efficiency that cloud computing offers; however, it also brings the ability to control and customize as if it were an on-premise solution. The true cloud ERP solution offers efficiency and scalability in ways other solutions cannot.
What Is On-Premise ERP?
On-premise ERP solutions are hosted on a business’s local server. This requires the business to purchase software licenses as well as have IT professionals on hand for the system’s upgrades, maintenance, and management. On-premise ERP solutions can be customized to an enterprise’s needs.
The specific difference between on-premise ERP and cloud ERP is that on-premise solutions allow for infrastructure to be customized to specific needs and the data can be managed and secured internally.
What this requires, though, is the purchase of software licenses and specific hardware in order to have access to the main server. This will also require more staff and more space in your business. As your business grows, your infrastructure will also grow, requiring you to make changes and adjustments to the software and system.
What Is Multi-tenancy?
Multi-tenancy is a software design that allows multiple users to share the same resources of a single instance of an application. All users on a system will operate in the same version of an application. Each tenant of the application can make customizations and configurations for themselves through their dashboard. Customers will have uninterrupted and up to date access to the newest product or service upgrades. This design is easily scalable and brings heightened efficiency.
Multi-tenant solutions are made for the internet and are versionless, making them incredibly flexible.
There are several benefits to multi-tenancy, for example:
- Adequate support
- Ability to keep secure
- Cost-effective customizations
- Instant access to the latest product upgrades
- Scaling is made simple
- Uptime and fast and efficient disaster recovery
Cloud-based operations see many advantages over on-premise or hosted platforms. The one-time license cost is lower, as are the yearly software maintenance costs and subscription costs. Upgrade costs and overall capital costs accumulated through cloud platforms are also lower than the other services. The cloud requires less IT resources, and can be implemented in as few as 4-8 months, comparison to on-premise deployments than can take anywhere from 12-36 months. Even hosted platforms can take 9-18 months to be fully implemented.
The cloud saves enterprises resources all around.
Oracle NetSuite ERP Features
Oracle NetSuite’s Cloud ERP offers 360-degree insight and analysis into a business of any size.
This is made possible through a variety of features.
One of these is in regards to finances. NetSuite Cloud ERP delivers real-time visibility into an enterprise’s complete database of financial transactions, regardless of how widespread the enterprise is. In addition, the solution monitors performance and hastens the financial close.
NetSuite Cloud ERP also serves to aid in planning and budgeting by including a broad scope of business logic. By allowing for smoother workflow approvals and reporting, businesses are able to accelerate the financial processes interdepartmentally and across the enterprise. This allows for reporting to be more efficient and free of errors.
Another beneficial feature that adds to the revenue process is Oracle’s Order Management. From receipt of order to feedback, this product module works to establish fluidity and structure. Processes are automated and monitored to ensure timely deliveries, payments, and responses to customers and suppliers. It does all of this while also preventing basic human error and boosting sales.
Oracle NetSuite ERP also offers Supply Chain Management to keep track of location and ability to acquire. Similarly, NetSuite’s Procurement module automates the process of buying goods and services at the best price through pre-negotiated contracts. This module gives managers the ability to make highly effective decisions, but it also can move things along itself by automating renewals, proactively responding to changes, and more.
All around, NetSuite ERP is a strong choice for all enterprises, regardless of current size.
Benefits of Oracle NetSuite ERP
Companies are transitioning to Oracle NetSuite ERP Cloud in great numbers because of how it can enhance an enterprise.
With NetSuite ERP, managers are able to make better decisions due to the unified access to financial transactions and operational processes, as well as through visual analytics and reports. Also, the solution offers customizable, user-friendly dashboards so that managers can find exactly what they need access to quickly.
These customizable dashboards allow users to determine their workspace interface. Data is updated regularly without needing the user to prompt it, and things like document sharing are done securely and easily.
The platform is so user-friendly because it is able to simplify and streamline the various areas of business into one resource. Through process automation and organization, the single application is able to manage various critical business operations such as accounting, distribution, and inventory. NetSuite Cloud ERP frees up each employee’s time so that they may instead focus on customer needs and new opportunities for the enterprise.
Among those new opportunities might be expanding the business or offering employees alternative ways of working. Oracle NetSuite ERP provides a solution that isn’t contained by location. Instead, it allows scalability by managing all the business units and subsidiaries. It automatically connects to and abides by rules and regulations of different countries. And despite how expansive your enterprise may be, the solution can give you a real-time look at its entirety.
Protecting Previous IT Investments
Utilizing NetSuite’s ERP solution and its True Cloud platform means that an enterprise will more quickly and efficiently begin operating at its best.
NetSuite ERP is obtainable through a public cloud deployment and through a single application. This allows businesses of all sizes and from all locations to be able to operate on the same version of the platform utilizing SaaS and a multi-tenant architecture. Globally and regardless of size, businesses are able to benefit from less capacity planning, improved agility, flexibility and scalability, and lower IT costs.
Part of this lower IT cost is being able to protect previous investments. To do so, NetSuite has introduced two-tier ERP, a business and technology strategy that allows manufacturers to keep their investment in existing ERP systems while still being able to utilize cloud-based ERP at newer subsidiaries. As an enterprise grows through expansion or mergers, one strategy that serves to preserve its existing ERP investments is a hub and spoke approach.
There are three versions of the hub and spoke model.
- A single application instance is used throughout the enterprise, from headquarters through the subsidiaries.
- The same application is used by the enterprise hub and business unit spoke, however, there may be more than one instance.
- Subsidiaries are allowed to pick a solution from an approved list that works to best serve its localized and specific needs and requirements.
Integrated Suite
Business software is made and executed in order to help companies in every industry complete business processes and daily tasks in a timely and efficient capacity. This is meant to help a business manage costs, technology, and customers simultaneously. However, many businesses are unable to see the relief because operating on multiple systems can cause process bottlenecks and employee productivity deficits.
A return on investment (ROI) study conducted by independent analyst firm Nucleus Research found that NetSuite’s integrated cloud business suite accelerated customers’ financial close times by up to 50%, improved sales productivity by 12.5% and increased inventory turns by 50%, in addition to efficiencies. What this suggests is that integrated business software suites such as NetSuite ERP are thoroughly transforming business for many organizations.
Regardless of size – small companies, mid-market companies, or large enterprises- all businesses need solutions for efficiently managing day-to-day operations and processes. They also require data and intelligence in order to offer insight and analytics that support decision making in a fast paced, fluid environment, coupled with assurance that processes are in compliance with regulatory requirements.
Technically, the concept of ROI isn’t applicable to cloud-based systems because instead of an upfront lump sum payment, they are typically paid for by either monthly or yearly subscription fees. Because on-premises systems generally require upfront capital expenditure for the purchasing of the licenses, computer hardware, and infrastructure for the software to operate, ROI can be applied. Despite not meeting the true definition, organizations that deploy cloud ERP want to be able to compute the value their systems provide, and therefore they still use the principles of ROI.
For example, in hard returns, according to Oracle, NetSuite ERP customers saw a 40% to 60% improvement in order process efficiency after implementing their systems, and 40% to 55% saw a reduction in reporting times. This doesn’t mention the additional benefits of things like employee morale or strengthen customer relationships.
Finding Success with Oracle NetSuite ERP
With more than two decades of experience and feedback from tens of thousands of customers across the globe, NetSuite packages offer leading practices to rapid industry success. Unlike other ERP vendors, NetSuite ERP’s holistic approach to leading best practices, productized domain knowledge, KPIs, and a flexible approach to implementation for users has led to faster time to value, greater overall efficiency and agility, and greater reports of customer success. This level of high expectation begins at sales contact and remains seamlessly through the life cycle.
The Oracle NetSuite Cloud ERP works to advance enterprises in industries across the board, offering unique and specific processes and solutions for the various markets. It is for this reason that NetSuite is expanding to more customers than ever before.
NetSuite Cloud ERP offers many compelling reasons to switch, but here are a few:
Seamless Maintenance and Upgrades
Across your enterprise, upgrades will be available to all users. Because multiple companies’ operations are run simultaneously on an application, this means that upgrades happen simultaneously, too, ensuring continuous and instant access to any upgrades or maintenance. Companies are informed in advance of any interruptions to make sure that downtime can be avoided.
Resilient Infrastructure
NetSuite offers contractual uptime guarantees so that businesses are aware of the operational time of their system. True Cloud multi-tenancy also offers reliable disaster recovery and risk management infrastructure. Data is stored, backed up, and accessible when needed.
Security
Each system is configured in individual layers to ensure that the data, information, and customizations for a company are only accessible to that company. Monitoring tools are used by dedicated security teams around the clock to verify that business information is guarded and secure. Because of this, NetSuite customers’ business applications have stringent security certifications. Security controls such as fully guarded premises and physical access management go beyond what is offered in on-premise deployments.
Easily Customized and Integrated
NetSuite ERP is built to grow while operating. It’s a flexible system that is prepared to be extended, customized, developed, and integrated in the cloud. Applications- custom, NetSuite, or third-party- can easily be integrated into existing solutions.
Versioning
The software is always current; the latest version is run automatically.
Cost-effective Scalability
When just beginning to implement a solution, it is challenging to predict the exact qualifiers needed to host a platform. As you develop your processes and technologies, you realize what works better for your enterprise. On-premise solutions leave much to be done by team members and managers when the goal of the technology is to make the work more seamless.
NetSuite Cloud ERP solutions, however, allow for on demand adaptability. Expansion, even internationally, is seamless and rapid, and done at reduced costs.
Agility
In an ever-changing market, businesses need the be as adaptable and flexible as possible. They need their technology to grow or realign without warning sometimes. NetSuite Cloud ERP makes times of transition swift and fluid. Because there is no need to reconfigure or reprogram the software, NetSuite facilitates prompt deployment of products and business models, transactions of mergers and acquisitions, and completion of divestitures.
Lower Maintenance Costs
With a True Cloud solution, there are no hidden fees when it comes to versioning, scalability, customization, or configuration.
Great Time to Value
In addition, NetSuite’s historical uptime track record has risen to 99.96% over more than the past five years and guaranteed uptime of 99.5% backed by transparent Service Level Commitment.
Performance
The built-in performance monitoring tools provide deep insights into the processes and behavior of the software and let your managers know that performance is at its highest, and if it isn’t, the software can diagnose why.
NetSuite ERP gives your business the capabilities to expand to new markets and channels, increase revenues without limitations, and to have the competitive advantage.
With Oracle NetSuite ERP, businesses are able to adapt to their clients’ needs thanks to the insight, speed, and flexibility of the cloud. Performance, efficiency, and customer relationships can be at their peak when operating with NetSuite’s Cloud ERP.
Next Steps
Oracle NetSuite ERP is a big step toward achieving your business’s specific goals and needs. Consider what areas your enterprise currently needs strengthening in and then reach out to a Godlan representative who has the expertise to guide your company to the next level. Godlan is committed to being a responsible partner and aligning with your company’s goals. Let Godlan’s knowledge and experience help you get to that next level. Reach out today by visiting www.Godlan.com or by calling 586.464.4400.
