NetSuite has more than 6,500 customers and it has been providing solution since 1998. It suits the requirements of growing and midsized organizations, and it was initially formed by founder of NetLedger - Larry Ellison and Evan Golberg. The on-demand software enables the company to prevent expenses on managing hardware, up-gradation of software and the software can be accessed anytime from anywhere.
Single integrated solution: NetSuite provides solution through a single integrated system and it includes modules of customer relationship management, inventory management, finance, order management, e-commerce, website management and HRM.
Prevent expense on hardware procurement: There is no need to spend on hardware procurement before use. The implementation of the software is fast and easy, and it does not require license and acquisition fees. A subscription fees is required, which may be paid every month and it does not require complex set ups.
Fast solution and easy decision making: NetSuite enables to get fast and better decisions, and the user interface is easy to view and use. It provides simple, intelligent and complete application for a mid-sized organization and it holds corporate data in one database. The dashboards are user defined and one can see many reports to get quick and better decisions.
Web based solution: NetSuite provides web-based and unified solution. It is web hosted and it offers low TCO. It is easy to use because the user does not require it to install on its systems. The user needs a login and the information is stored in the software which can be accessed over internet.
Accounts receivable: The accounts receivable module of NetSuite is highly featured. It provides easy navigation and shifting between roles, and one can manage the invoices and shipping easily. The billing part is very efficient and there are more than 35 reports in accounts receivable module.
CRM: The CRM module of the software provides 360 degree view of the customers and completes customer history. The user interface provides dashboards based on the roles. The employees can see the KPIs, new leads, commissions, orders, forecast and opportunities through the software.
Improved visibility: Automatically the software can sell products to customers and the organization can find out the detailed information of the products sold in certain time period. The order status, overdue, inventory and service issues can be viewed. Quotes can be created immediately and a visibility into commission compensation can also be managed. Employees can anytime update their accounts from any part of the world.
Strengths
1. NetSuite ERP has an easy front office and back office features, ecommerce features, accounting and CRM.
2. It prevents expenses on buying servers and software support.
3. NetSuite ERP does not require an infrastructure for implementation.
4. It provides better visibility to enable decision making.
5. NetSuite ERP provides portals to improve collaboration between partners, customers and suppliers.
Weaknesses
1. The stability of the product is in question, although the companies have successfully used the solution.
2. There are no backup of the service.
3. Instead of initial expense it requires monthly expenses and miscellaneous charges are many.
4. Navigation is not the best and scalability is also questioned.
5. Software as the solution is questioned for security of data - because the company providing the service owns the data and the customers does not owns anything.
