When investing in an ERP solution, companies must consider a multitude of benefits and features that will have a profound impact on how the company manages its daily processes. Businesses in differing industries have different considerations when it comes to choosing an ERP system that is best for them. Over the successive weeks this blog will discuss why NetSuite is right for companies involved in wholesale distribution, software, services, retail, manufacturing, general business and ecommerce. This will also include the features and benefits that pertain to enterprises in each of those areas.
Our first blog post detailed why NetSuite is one of the top software applications for wholesale distributors. Some of the key benefits include real-time visibility throughout the entire organization and built-in support for wholesale distribution business processes. This blog will discuss the specific features inherent in NetSuite that make it such a great solution for wholesale distributors.
NetSuite Features for Wholesale Distributors
Comprehensive Procurement, Inventory and Fulfillment Management:
- Allows employees to create and track purchase requisitions and orders through a self-service Employee Center that eliminates paper-based forms and associated errors
- Enforces strong purchase order approval processes with automatic approval routing and digital approvals
- Provides real-time, detailed visibility into key spend, inventory and supply chain management metrics
- Multiple location inventory management enables easily managing which warehouse location will receive or fulfill an order
- Provides comprehensive inventory costing methods including LIFO, FIFO and average and standard costing
- Integrated demand planning forecasts required inventory levels based on historical data, sales forecasts, average trends and seasonal fluctuations
- Confirm when an item is Available to Promise to your customer based on open orders to your suppliers
- Integrated Vendor Center provides vendors with self-service access to purchase orders, accounts payable data and other key information
- Ease of integration enables drop-ship business models
- Packaged shipping integration with carriers such as UPS, FedEx and USPS.
Real-Time Dashboards, Reporting, Analytics and Planning:
- Provides personalized, role-based, real-time dashboards and reporting across the company—from accounting and sales to ecommerce and support
- Transparent drill-down from a summary level to greater detail, all the way to the underlying transaction, in just a few clicks
- Complete self-service reporting enables easy ad hoc report creation, added fields, custom formulas and report sharing.
Powerful Financial Management:
- Provides more than 100 standard reports, including income statements, balance sheets, consolidated reports, variance reports and side-by-side comparisons—or easily create and define financial reports according to the needs of your business
- Flexible general ledger, accounts receivable and accounts payable; supports an unlimited number of general ledger accounts, sub-accounts and segments
- Automated allocations, currency management tools and period locking simplify the period-end close process
- Always-on audit trail provides total background into every transaction, such as the author and time of each entry
- Fixed asset management enables maintenance and control of the complete asset lifecycle across depreciating or non-depreciating assets, from creation to depreciation, revaluation and disposal
- Accommodates different accounting and business practices across countries and supports local reporting and taxation requirements
- Full multi-currency accounting support for offices in other countries, or when conducting business with foreign companies.
Integrated Ecommerce Capabilities for Wholesale Distributors:
- Website hosting enables deployment of database-driven sites that are always in sync with the rest of the business
- Accepts real-time payments from different credit cards and international currencies, and supports Google Checkout or PayPal checkout options
- Supports creation of coupons or discounts on specific items, enables exempting other items from discounts, and automatically delivers upsell recommendations
- Streamlines order management by transferring orders automatically to accounts receivables and warehouse departments
- Ecommerce analytics provides search engine analysis, website analytics and reporting, online marketing analytics and more.
Sales, Marketing and Service Automation:
- Enables creation, execution and tracking of campaigns in real time to maximize the value of leads and opportunities
- Delivers email marketing—from creation to execution to measurement—in one system
- Enables sales and partners to manage opportunities across status, potential revenue, key contacts, notes, related documents and more
- Provides real-time quote management by incorporating pricing, sales tax and discounting rules automatically into the sales quote
- Supports sophisticated sales commission plans based on quotas, sales, quantity, profitability and other criteria
- Case management automates processes associated with customer support case assignment, management and escalation
- Mobile support, such as NetSuite for iPhone, provides salespeople with on-the-go access to calendars, contacts, opportunities and KPIs such as achieved versus quota, actual versus sales forecasts, commissions and more.
Contact Our NetSuite Team
Are you interested in learning more about the features in our NetSuite solution? Contact SWK’s NetSuite professionals to learn how these features can benefit you. For additional information please contact us at 877-979-5462, or click here to contact us.