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Oracle NetSuite ERP

Oracle NetSuite is a cloud-based enterprise resource planning (ERP) system that offers a complete suite of integrated business applications, covering everything from accounting and financials to customer relationship management (CRM) and e-commerce.

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What is Oracle NetSuite ERP?

Oracle NetSuite
NetSuite ERP is designed to help businesses manage all aspects of their operations in one unified system, providing real-time visibility into key business metrics and supporting strategic decision-making.
Oracle NetSuite ERP includes a number of powerful features to help businesses streamline their operations, including:

Financial management: Comprehensive financial management capabilities, including accounting, order management, and billing

Customer relationship management (CRM): Sales force automation, customer support and service, and marketing automation

Inventory management: Comprehensive inventory management, including warehouse and fulfilment management

Reporting and analytics: Robust reporting and analytics tools to help businesses make better decisions

Project Management and Job Costing: Project management and job costing tools to help businesses manage their projects and track costs

Why Use Oracle NetSuite ERP?

There are many reasons why businesses choose to use Oracle NetSuite ERP. Some of the key benefits of using NetSuite include:

Improved visibility into business operations: NetSuite provides users with real-time visibility into all aspects of their business, from financials to inventory levels. This helps businesses make better decisions and stay ahead of potential problems.

Improved efficiency and productivity: NetSuite streamlines many common business processes, such as order management and billing. This can free up time for employees to focus on more value-added tasks.

Inventory management: Comprehensive inventory management, including warehouse and fulfilment management

Inventory management: Comprehensive inventory management, including warehouse and fulfilment management

About Oracle and NetSuite's History

NetSuite was founded in 1998 as NetLedger, a pioneer in providing web-based accounting software. In 2007, NetLedger changed its name to NetSuite and was acquired by Oracle in 2016.

Oracle is a global technology leader that provides innovative cloud solutions for businesses of all sizes. Oracle has more than 430,000 customers in 175 countries and offers a complete set of applications for businesses of all sizes, including ERP, CRM, and HCM.

Oracle’s acquisition of NetSuite in 2016 was a strategic move to provide customers with a complete cloud solution that includes both best-of-breed applications and the underlying infrastructure. The combination of Oracle and NetSuite provides businesses with a powerful platform to run their operations in the cloud.

NetSuite Editions by Industry

NetSuite offers different editions of its software to meet the specific needs of businesses in different industries. These editions package the most commonly required modules and features to create highly aligned industry solutions. In more recent years, NetSuite SuiteSuccess has been introduced to further accelerate time to value. SuiteSuccess is a cloud-based solution that offers best practices, pre-configured processes, and templates tailored specifically for businesses in select industries.

NetSuite Wholesale Distribution Edition

The NetSuite Wholesale Distribution Edition is designed specifically for businesses in the wholesale distribution industry. It includes comprehensive functionality for financial management, inventory management, order management, and CRM. The Wholesale Distribution Edition also offers robust reporting and analytics tools to help businesses make better decisions.
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NetSuite Manufacturing Edition

The NetSuite Manufacturing Edition is designed specifically for businesses in the manufacturing industry. It includes comprehensive functionality for financial management, inventory management, order management, and CRM. The Manufacturing Edition also offers robust tools to manage work orders, routings and WIP accounting.
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NetSuite Retail 
Edition

The NetSuite Retail Edition is designed specifically for businesses in the retail industry. It includes comprehensive functionality for financial management, inventory management, order management, and CRM. The Retail Edition also offers robust tools for managing point-of-sale (POS) transactions and store operations and can be further extended with eCommerce integrations to create a true omnichannel customer experience.
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NetSuite Financials
First

NetSuite Financials First is a new edition of NetSuite designed specifically for businesses that need a cloud-based financial management solution but do not require the full suite of NetSuite applications. Financials First includes core functionality for accounting, invoicing, and billing. It also offers robust reporting and analytics tools to help businesses make better decisions. Financials First can be extended with additional modules and integrations as needed.

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NetSuite Professional Services Edition

The NetSuite Professional Services Edition is designed specifically for businesses in the professional services industry. It includes comprehensive functionality for financial management, project management, and CRM. The Professional Services Edition also offers robust tools to manage projects, resources, and customer relationships.

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NetSuite Software 
Edition

The NetSuite Software Edition is designed specifically for businesses in the software industry. It includes comprehensive functionality for financial management, digital product management, and CRM. The Software Edition also offers robust tools to manage software licences and subscriptions as well as revenue recognition.

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NetSuite Modules and Features

In addition to the industry-specific editions, NetSuite also offers a variety of modules and features that can be added to any edition to further extend its functionality.

CRM

NetSuite’s CRM capabilities help businesses manage their customer relationships more effectively, leading to improved customer satisfaction. NetSuite’s CRM applications are tightly integrated with the rest of the NetSuite platform, providing a seamless user experience and a single source of truth for all customer data.

Top Features of NetSuite CRM include:

Contact Management

Lead Management

Opportunity Management

Quote and Order Management

Marketing Automation

Product and Price Books

Configurable Dashboards and Reports

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ERP

NetSuite’s ERP capabilities help businesses manage their financials, inventory, and operations more effectively. NetSuite’s ERP functionality improves companies ability to track and manage inventory across multiple locations and divisions and helps support accurate demand and supply planning.

Top Features of NetSuite ERP include:

Financial Management

Inventory Management

Order Management

Demand and Planning

Warehouse and Fulfilment Management

Configurable Dashboards and Reports

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Accounting & Finance

NetSuite’s accounting and finance capabilities help businesses manage their finances more effectively. NetSuite’s accounting functionality includes a complete chart of accounts, General Ledger, Accounts Payable, Accounts Receivable, and Bank Reconciliation. Financial reporting and analysis tools are also included to help businesses make better decisions.

Top Features of NetSuite Accounting & Finance include:

Chart of Accounts

General Ledger

Accounts Payable

Accounts Receivable

Bank Reconciliation

Financial Reporting and Analysis Tools

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Inventory Management

NetSuite’s inventory management capabilities help businesses track and manage their inventory more effectively. NetSuite’s inventory functionality includes support for multiple locations and divisions, inventory replenishment, and demand planning.

Top Features of NetSuite Inventory Management include:

Multiple Locations and Division Support

Inventory Replenishment

Serialised Inventory Tracking

Putaway management

Bin and location management

Cycle counting and stock-take management

Customisable inventory master records

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Warehouse Management

NetSuite’s warehouse management capabilities help businesses manage their warehouses more effectively. NetSuite’s warehouse functionality includes support for multiple locations, order management, demand planning, and inventory replenishment.

Top Features of NetSuite Warehouse Management include:

Warehouse automation

Warehouse management planning

Warehouse performance reporting

Advanced Inventory controls

Streamlined order processing

Fulfilment management

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Work Orders & Assemblies

NetSuite’s work order and assembly capabilities help businesses manage their manufacturing processes more effectively. NetSuite’s work order functionality includes support for multiple locations, bill of materials creation and multi-level BOM management.

Top Features of NetSuite Work Orders & Assemblies include:

Bill of Materials templates

Work Order Management

Multi-level BOM management

Capacity Planning

Material Requirements Planning (MRP)

Manufacturing Execution System analysis (MES)

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WIP & Routing Management

NetSuite's WIP and Routing module helps businesses manage their manufacturing processes more effectively. NetSuite's WIP helps manufacturers to see in real-time the status of manufacturing work orders and get accurate valuation and accounting transaction recording for goods currently in the manufacturing process.

Top Features of NetSuite WIP & Routing Management include:

Work in Progress tracking

Routing management

Product cost analysis

Overhead cost applications

Labour cost allocations

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Advanced Project Management

NetSuite Advanced Project Management module helps businesses manage their projects more effectively. NetSuite's project management functionality includes support for multiple projects, tasks, and resources. Advanced features such as time tracking, expense tracking, and billing are also included to help businesses better manage their projects.

Top Features of NetSuite Advanced Project Management include:

Multi-project support

Task management

Resource management

Gantt charting

Time tracking

Expense tracking

Project billing and invoicing

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Job Costing

NetSuite's job costing functionality helps businesses track and manage the costs of their projects more effectively. For complex projects that need to track costs into different categories such as inventory, labour, contractors and equipment, NetSuite provides the ability to set up multiple cost categories and track costs against those categories.

Top Features of NetSuite Job Costing include:

Multi-cost category support

Project cost tracking

Inventory cost tracking

Labour cost tracking

Contractor cost tracking

Equipment cost tracking

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Advanced Financials

NetSuite's Advanced Financials module helps businesses manage their finances more effectively. NetSuite's financials functionality includes support for multiple currencies, custom fiscal periods, and advanced journals. In addition to this, Advanced Financial allows for the tracking of amortisation, intercompany transactions, and multiple consolidations.

Top Features of NetSuite Advanced Financials include:

Multi-currency support

Custom fiscal periods

Advanced journals

Amortisation tracking

Intercompany transactions

Multiple consolidation support

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Demand Planning

NetSuite's demand planning module helps businesses forecast future demand for their products and services. NetSuite's demand planning functionality includes support for multiple time periods, product hierarchies, and forecasting methods. In addition to this, NetSuite provides the ability to create custom reports and dashboards to help businesses better understand their demand planning data.

Top Features of NetSuite Demand Planning include:

Multi-time period support

Product hierarchy support

Multiple forecasting methods

Automatic creation of purchase orders

Custom reports and dashboards

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Fixed Asset Management

NetSuite's Fixed Asset Management module helps businesses manage their fixed assets more effectively. NetSuite's fixed asset functionality includes support for multiple depreciation methods, custom fields, and asset tracking. In addition to this, NetSuite provides the ability to create custom reports and dashboards to help businesses better understand their fixed asset data.

Top Features of NetSuite Fixed Asset Management include:

Multi-depreciation method support

Custom fields to capture specific asset data

Asset tracking

Location tracking

Serial number tracking

Service and maintenance history tracking

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Oracle NetSuite SuiteApps by PKF Digital

Cashflow 
Plus

Cashflow Plus is a SuiteApp for Oracle NetSuite that helps businesses improve their cash flow management. Cashflow Plus includes features such as a cash flow forecast, receivables management, and payment schedule planning. In addition to these features, Cashflow Plus also includes a suite of reports and dashboards to help businesses better understand their cash flow data.

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Approval 
Flow Plus

Approval Flow Plus is a SuiteApp for Oracle NetSuite that helps businesses automate their approval processes. Approval Flow Plus includes features such as an approval workflow builder, document attachments, and email notifications. Rather than logging into the system to approve transactions, users are able to action one-click approvals from their inbox.

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Xero Integration Plus Connector

The Xero to NetSuite Connector is an integration that allows businesses to connect their NetSuite account with their Xero accounting software. The connector allows businesses to automate the synchronisation of data between the two applications. This includes the synchronisation of invoices, bills, customers, and suppliers.

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Google Workspace Plus Connector

The Google Workspace Connector is an integration that allows businesses to connect their NetSuite account with their Google Workspace account. The connector allows businesses to automate the synchronisation of data to gain better visibility and make use of Google Sheets powerful analytic tools with NetSuite live data as the source.

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Interested in Learning More About NetSuite?

PKF Digital has a team of NetSuite experts that can help you implement Oracle NetSuite in your business. For nearly 25 years, we have been helping Australian businesses - from SMEs to large enterprises - overcome their business challenges with innovative technology solutions.

If you would like to learn more about Oracle NetSuite, please contact us today. One of our NetSuite experts will be happy to answer any of your questions.

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