NetSuite

What is NetSuite

NetSuite is a comprehensive, cloud-based business management software suite provided by Oracle. Its main purpose is to offer a single, integrated platform for businesses to manage all their key operations. This includes enterprise resource planning (ERP), customer relationship management (CRM), ecommerce, financial management, and professional services automation. By unifying these functions, NetSuite eliminates the need for separate software for different departments and provides a single source of truth for business data. The company was originally founded as NetLedger in 1998 and was one of the pioneers in cloud computing. Oracle acquired NetSuite in 2016, and its headquarters are in Austin, Texas. It is designed to scale with businesses as they grow, from startups to large enterprises.

NetSuite Features

NetSuite offers a wide range of features through its various modules. Here are some of the key functionalities:

• Financial Management: Provides a complete solution for financial operations. This includes general ledger, accounts payable and receivable, tax management, and fixed asset management. It supports multi-currency and multi-company consolidation for global businesses.
• Enterprise Resource Planning (ERP): Helps manage core business processes like inventory, supply chain, and order management. Users can track inventory across multiple locations, manage procurement, and fulfill orders efficiently.
• Customer Relationship Management (CRM): Delivers a full view of the customer lifecycle. It includes sales force automation, marketing automation, customer service management, and partner relationship management.
• Ecommerce (SuiteCommerce): Allows businesses to create and manage B2B and B2C ecommerce websites. The platform is fully integrated with inventory, order management, and financials, providing a seamless online shopping experience.
• Professional Services Automation (PSA): Designed for service-based businesses, this module helps with project management, resource planning, project accounting, and time and expense tracking.
• Business Intelligence and Analytics: Offers built-in dashboards, reporting, and analytics. Users can create real-time reports and key performance indicators (KPIs) to monitor business performance and make informed decisions.

NetSuite Pricing Plans

NetSuite's pricing is customized for each business and is not publicly listed with fixed tiers. The cost is based on a subscription model that depends on several factors:

• Core Platform: A base license fee for the selected NetSuite edition.
• Optional Modules: The specific modules a business needs (e.g., advanced inventory management, ecommerce, PSA).
• Number of Users: The total number of users who will need access to the system.
• Contract Duration: Typically an annual subscription, with potential discounts for longer commitments.

To get a price, a business must contact NetSuite's sales team for a consultation and a custom quote based on their specific requirements. The platform is designed for growing small businesses, mid-market companies, and large enterprises.

NetSuite Free Plan

NetSuite does not offer a free plan. Due to the complexity and implementation required, it is not suitable for a standard free tier. However, prospective customers can request a free product tour or a personalized demo from the NetSuite team. This allows them to see the software in action and understand how it can be configured to meet their business needs before making a commitment.

How to use NetSuite

Getting started with NetSuite is a structured process that typically involves a dedicated implementation team.

1. Consultation and Planning: The first step is to work with NetSuite consultants or a partner to define your business processes and requirements. This phase determines which modules you need and how the system will be configured.
2. Implementation and Data Migration: The implementation team sets up and configures your NetSuite account. This includes migrating data from your old systems, such as customer lists, financial records, and product information.
3. User Training: Your employees receive training on how to use the modules relevant to their roles. For example, the sales team learns the CRM, while the accounting team learns the financial management tools.
4. Go-Live: Once configured and tested, the system goes live. Daily use involves logging in to your personalized dashboard to view key metrics, process transactions (like creating sales orders or invoices), manage customer interactions, and run reports to analyze business performance.

Pros and Cons of NetSuite

Pros:

• All-in-One Platform: Combines multiple business functions into a single, unified system.
• Scalability: The platform is designed to grow with your business, from a small startup to a large enterprise.
• Real-time Visibility: Provides real-time data and reporting across all departments, enabling better decision-making.
• Customization: Highly customizable to fit unique business processes and workflows.
• Cloud-Based: Accessible from anywhere with an internet connection, with no need to manage on-premise servers.

Cons:

• High Cost: Can be very expensive, especially for small businesses, due to licensing, implementation, and customization fees.
• Complex Implementation: The setup process is long and complex, often requiring specialized consultants.
• Steep Learning Curve: The system is powerful but can be difficult for new users to learn without proper training.
• Customer Support: Some users report that customer support can be slow or requires a premium support plan for timely responses.

NetSuite integrations

NetSuite is designed to be a central system but also integrates with many other applications through its SuiteCloud platform and third-party connectors. Common integrations include:

• Salesforce: For businesses that prefer to use Salesforce as their primary CRM, it can be integrated to sync customer, order, and financial data with NetSuite ERP.
• Microsoft 365: Integration with Outlook and other Office applications for better productivity and data synchronization.
• Shopify: Connects Shopify ecommerce stores with NetSuite's back-end for automated order, inventory, and fulfillment management.
• Payment Gateways: Integrates with services like Stripe, PayPal, and Authorize.net for processing online payments.
• HR and Payroll Systems: Connects with platforms like ADP for streamlined payroll and human resources management.

NetSuite Alternatives

• SAP S/4HANA Cloud: A powerful ERP solution for large enterprises, offering advanced analytics and AI capabilities. It is often considered a direct competitor for large-scale deployments.
• Microsoft Dynamics 365: A suite of business applications that combines ERP and CRM functionalities. It integrates deeply with the Microsoft ecosystem, making it a strong choice for companies using other Microsoft products.
• Acumatica: A flexible, cloud-based ERP system that is popular with mid-sized businesses. It is known for its user-friendly interface and adaptable pricing model.
• Odoo: An open-source suite of business apps that includes ERP, CRM, and ecommerce. It is highly customizable and can be a more affordable option, especially for businesses with technical resources.
• Sage Intacct: A cloud financial management solution that is strong in accounting and financial reporting, often used by service-based industries.

NetSuite API

Yes, NetSuite provides a powerful set of APIs through its SuiteCloud developer platform. The primary API for web services integration is called SuiteTalk. It allows developers to connect external applications to NetSuite to read, write, and update data programmatically.

To use the API, an administrator must enable the Web Services feature within the NetSuite account and create an integration record to obtain authentication credentials (Consumer Key/Secret and Token ID/Secret for token-based authentication). There is no separate fee for API access itself, but it is part of the licensed platform.

Here is a conceptual example of a SOAP API request to fetch a customer record:

<soap:Envelope xmlns:soap="http://schemas.xmlsoap.org/soap/envelope/">
  <soap:Header>
    <tokenPassport>
      <account>YOUR_ACCOUNT_ID</account>
      <consumerKey>YOUR_CONSUMER_KEY</consumerKey>
      <token>YOUR_TOKEN_ID</token>
      <signature algorithm="HMAC_SHA256">GENERATED_SIGNATURE</signature>
    </tokenPassport>
  </soap:Header>
  <soap:Body>
    <get xmlns="urn:messages_2021_2.platform.webservices.netsuite.com">
      <baseRef internalId="1234" type="customer" xsi:type="q1:RecordRef" xmlns:q1="urn:core_2021_2.platform.webservices.netsuite.com"/>
    </get>
  </soap:Body>
</soap:Envelope>

For more detailed information, developers should consult the official NetSuite developer documentation for SuiteTalk (SOAP & REST) and SuiteScript.

NetSuite Affiliate program

NetSuite does not have a traditional, public-facing affiliate program where individuals can sign up for a link and earn a commission. Instead, it operates through the Oracle PartnerNetwork (OPN). This program is designed for companies that provide services related to NetSuite, such as:

• Solution Providers: Companies that sell, implement, and customize NetSuite for clients.
• Alliance Partners: Consulting firms and integrators that work with NetSuite.
• Developers: Companies that build applications that integrate with NetSuite (SuiteApp developers).

Partners in these programs may receive referral fees or other financial benefits, but the requirements are significant and involve a formal business relationship with Oracle. If you are an individual or business interested in partnership, you should visit the Oracle PartnerNetwork website or contact NetSuite's sales team to inquire about partnership opportunities.