NetSuite is the #1 Cloud-based ERP system! What is an ERP system you ask? ERP (Enterprise Resource Planning) is a term that refers a system aiming to integrate all of a company's data. Such data can range from project management, HR, and Marketing to accounting, financial, and inventory management.
Think of NetSuite as a really powerful brain. This brain is something businesses run off of for all facets of their organization: operations, customer management, sales, marketing, e-commerce, data management, human resources, accounting, project management, website management, supply chain, and other functions. NetSuite can be customized internally to align with a specific business and it can also connect to external software through API's and Integrations. What this provides a customer is the ability to have vital information at their fingertips to run their business.
In this debut episode of the Anchor Group Podcast, Caleb and Michael break down the fundamentals of ERP systems, focusing on how NetSuite can transform business operations.
Whether you're new to ERP or looking to optimize your current systems, this episode is packed with practical insights to help you stay ahead in today’s fast-paced business world.
The focus of an ERP is well-defined business rules and the integration of a vast amount of data. However, each company has particularities regarding business rules and the type of data that interests it. Therefore, a good ERP is highly configurable and has well-defined rules for good business management practices, which leads us to NetSuite.
Check out this video to learn about some automation in NetSuite that can help you get great results from the ERP system!
"We have been working with Dominick Meyer and the Anchor Group team for nearly three years and they have consistently exceeded our expectations. Dominick and team bring not only deep NetSuite expertise but also a high level of professionalism and structure that makes them incredibly easy to work with."
NetSuite enables companies to manage the entire business through a single platform. This means that all the company data can be stored in one place, inside of NetSuite, creating a single source of truth for data, so it matches company-wide.
NetSuite's unified architecture provides a familiar user interface for all modules, reducing training time and improving work efficiency. It also allows users to complete multistep processes from a single application without re-entering or exporting data.
Many "cloud" ERP systems are hosted or hybrid clouds—essentially suitable for on-premises software accessed over the Internet. NetSuite, on the other hand, was born and built for the Cloud.
With the help of the NetSuite's built-in reporting tools, users can create reports on anything they want to measure or understand. NetSuite also enables companies to create custom role-based dashboards that quickly provide employees, managers, and executives with the information they need to make informed business decisions.
Through its module structure, NetSuite can meet the needs of very different businesses across a variety of industries. Combined with additional agility achievable through customizations, NetSuite can meet the needs of a mid-size local business, and be scaled alongside the company as it grows into a multinational brand.
NetSuite is a business management software solution owned by Oracle, and is the #1 cloud-based enterprise resource planning (ERP) software. It has many modules that build out a suite of products covering backend business solutions and ecommerce. It's the most popular choice for the mid-market business!
NetSuite is an ERP, which means it is the software that runs the entire brain of your business, from end-to-end, from the point of a sales order, to receiving cash, procurement, paying vendors, warehouses, inventory management, work orders and assemblies, and so much more!
NetSuite is used to manage all of a business's needs from accounting, reporting, inventory, invoices, marketing, CRM, ecommerce, order management, and human resources. It is the most popular software to operate a business on for the mid-market. Typically, when companies outgrow Quickbooks, they switch to NetSuite.
The price of NetSuite varies significantly based on a company's needs. For example, a large enterprise operating globally and selling products online will need a wider variety of features than a company that operates in the U.S. and has not yet entered the ecommerce scene. To learn more about what purchasing NetSuite might look like for your company based on the features and services you need, contact us!
Your business will likely not need an ERP system like NetSuite until you have outgrown another software like QuickBooks or have disparate systems that are beginning to negatively impact daily business operations. NetSuite is typically too much for companies making <$5 million in annual revenue. NetSuite starts to make sense for businesses making $5-10 million a year. Once a company is making $10-20 million in annual revenue, the investment in NetSuite will be easier to take on, however companies that wait until then to implement NetSuite do miss out on a lot of opportunity for earlier automation, sacrificing business growth by delaying their NetSuite implementation.
NetSuite was founded in 1998, and was one of the first vendors to develop web-based business applications. In November 2016 NetSuite was acquired by Oracle, and it now operates as an independent global business unit.
NetSuite has since scaled to become the #1 cloud-based enterprise resource planning (ERP) solution supported by an ecosystem of partners, users, and third-party solution providers extending, customizing, and integrating NetSuite solutions.
That's where Anchor Group Comes in!
Anchor Group is a top NetSuite implementation partner that service B2B and B2C companies in the NetSuite ecosystem across all industries.
Anchor Group is a small NetSuite partner firm based in the United States! Our team of on-shore NetSuite consultants and developers is able to take on all kinds of NetSuite projects, large or small, from full implementations to post-go-live support through managed service plans.
We work to help businesses utilize NetSuite to its fullest potential to solve their resource planning needs. We do so through consulting, solution design, project management, software coding and development, and implementation. Learn more about our team or the services we offer!
"Kevin and the team at Anchor Group are great. I enjoyed working with them this past year and all the projects we were able to push out in NetSuite."
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