Solutions

Trading

Successful businesses have moved beyond the limits of individual channels and touchpoints to deliver true omnichannel shopping and service experiences. With an infrastructure that unifies business applications and provides a single source of item, inventory, customer and order data, it’s possible to create seamless, channel-agnostic, personalized experiences.

NetSuite’s SuiteCommerce platform powers thousands of online businesses, helping them increase revenue and expand to new heights. Backed by our professional services, extensive partner ecosystem and dedicated support, SuiteCommerce provides your business everything it needs to succeed.



Financial Services

Financials are complex in any industry, and they are arguably the most complex in the software industry. The stumbling block for most software companies is managing revenue recognition and billing schedules—and ensuring compliance. Few financial packages provide these tools, forcing companies to manage these complexities offline in spreadsheets or in third party standalone packages. With NetSuite you have one financial system that manages accounting, complex billing and revenue recognition—so there’s no more double entry.

Revenue Recognition

NetSuite supports AICPA, FASB and SEC regulations (including SOP 81-1, SAB 101, and EITF 00-21). NetSuite also accommodates the requirements specified in SOP 97-2 & 98-9 relating to Vendor Specific Objective Evidence or VSOE, including the accommodation of the Residual Method and a separate VSOE price for every item. Percent Complete Revenue Recognition allows companies to recognize revenue in conjunction with the completion of a project. NetSuite also supports Sarbanes-Oxley compliance with Section 404. Software companies can even manage both GAAP revenues and billings separately—a critical operation for most software companies.

Deferred Revenue Management

NetSuite lets you recognize deferred payments within regulations and guidelines, all within NetSuite financials. Deferred revenue reports deliver detailed data on both posted and forecasted revenue. NetSuite gives you easy access to detailed historical and future views for more accurate business management and planning.

Renewals Management

NetSuite allows you to maintain your revenue stream and ensure that customers will receive uninterrupted service. NetSuite uses a single repository for customer management, facilitating the tracking and renewal of contracts including subscription licenses as well as maintenance and support.

Advanced Billing

NetSuite allows Finance departments to automate billing processes and eliminates the manual work typically associated with billing customers, reducing errors and saving the company time and money. Software companies can create highly customized billing schedules and templates easily and quickly to automate the creation of invoices based on the related license agreement and service contract to meet their exact needs. Milestone billing schedules let software companies bill as work is completed according to the service contract. Billing schedules can be applied to an entire sales order or to each specific item on an order and indicate what is to be invoiced and when, providing more granular visibility into cash flow from period to period. Powerful reporting capabilities provide accurate billing forecasts.



Wholesale / Retail Distribution

wholesaleNetSuite is the No. 1 cloud ERP solution for wholesale distributors, empowering tens of thousands of fast-growing companies with software to transform and accelerate their businesses. Using NetSuite, distributors can run their businesses on a single, unified platform reducing IT costs and gaining comprehensive, real-time visibility across their organizations. Run your entire business on a single, true cloud platform. Rid yourself of multiple, disparate applications and bring all your data into a single, customizable system, accessible from anywhere.


Know your operations like never before. Gain insight from data gathered across your organization and empower your employees with the information they need.

Get a 360-degree view of your customers.Record every interaction automatically in a single, searchable system—from marketing to selling to service and support.

Engage users everywhere with omnichannel commerce.Reach your customers online, by phone, over email, in person and more. Exceed the evolving expectations of 21st century consumers.

Why Run Your Retail Business on NetSuite?

Today’s consumers are more demanding than ever. They want to shop whenever and however they please through any channel—without sacrificing choice, convenience or price. Establishing an effective omnichannel strategy can deliver substantial and tangible results for your retail business.

NetSuite is the only cloud business software suite that brings together every step of a multi-channel, multi-location retail business—POS, ecommerce, CRM, marketing, inventory and order management, and financials. Only NetSuite gives you real-time visibility into your entire retail operation, accessible from anywhere at any time. With NetSuite, you get a single view of the business across all channels, ensuring that your customer, order, inventory and financial information is always up to date and that you deliver the personalized experience your customers expect across every touchpoint.

  • A single, integrated solution to manage your entire retail business.
  • Complete 360-degree view of the customer across all channels and touchpoints.
  • Support multiple locations, channels and brands from a single platform.
  • A full featured and mobile ready POS.
  • Powerful ecommerce capabilities on any device.
  • Central management of all pricing and promotions.
  • Real-time inventory visibility across all channels.
  • Cross-channel order management and fulfillment.
  • Marketing tools to target and segment offers.
  • Easy customization for your specific retail requirements.
  • A lower cost and less hassle than on-premise retail systems.


Manufacturing

manufacturingNetSuite is the No. 1 cloud ERP solution for wholesale distributors, empowering tens of thousands of fast-growing companies with software to transform and accelerate their businesses. Using NetSuite, distributors can run their businesses on a single, unified platform reducing IT costs and gaining comprehensive, real-time visibility across their organizations. Run your entire business on a single, true cloud platform. Rid yourself of multiple, disparate applications and bring all your data into a single, customizable system, accessible from anywhere.


NetSuite’s cloud-based financials/ERP and omnichannel commerce software suite is the best choice for manufacturers wanting a complete business solution. Its comprehensive functionality, which includes CRM, HCM and ecommerce, provides manufacturers with the software needed to run a modern business. A best-in-class architecture enables extended, yet seamlessly-integrated, global networks of suppliers and partners—these networks perform maximally because information is available in real-time everywhere.

NetSuite provides inventory, warehouse management, accounting and financial management, order management, customer relationship management and ecommerce capabilities. It supports inventory for multiple locations, assembly management requirements, bill of materials, work order management, diverse methods of measurement, bar coding procedures and other business processes.

Ease-of-use allows subscribers to adapt NetSuite to specific roles and requirements and do so without software programming expertise. It can be customized to provide real-time insights into key performance indicators—an intuitive dashboard provides a 360⁰ view of business operations and enables any issue to be investigated thoroughly.

Since it’s a cloud-based application, manufacturers can benefit from NetSuite’s rich functionality immediately, and at lower upfront costs, than legacy approaches.



Professional Services / Projects

NetSuite SRP provides a comprehensive, end-to-end Services Resource Planning (SRP) solution that supports an entire services business. From Customer Relationship Management (CRM) and Professional Services Automation (PSA), to accounting/Enterprise Resource Planning (ERP), NetSuite SRP supports the complete bid-to-bill lifecycle with a powerful Software-as-a-Service (SaaS) suite.


Key Features

Project Management, Resource Management, Project Costing, Timesheet and Expense Management, Project Delivery and Billing NetSuite SRP provides a comprehensive Professional Services Automaton solution. NetSuite SRP quickly generates tangible results while driving down bench time, increasing resource utilization, elevating ontime project delivery, improving invoicing accuracy, streamlining revenue recognition, reducing overhead, expediting billing cycles and increasing visibility into your services organization.

NetSuite SRP’s Professional Services Automation functionality includes:

  • Resource management and forecasting for complete visibility into resource utilization.
  • Project costing, budgeting and profitability reporting for determining your true cost of doing business.
  • Sophisticated project accounting.
  • Powerful billing rules engine to support complex client billing.Turn information into insight with at-a-glance KPIs and better project monitoring capabilities.
  • Collaborative project management to proactively identify and resolve issues.
  • Simple and easy timesheet management, directly integrated with project management and billing.
  • Easy and flexible expense management to maximize accuracy and timelines.
  • Powerful, intuitive, configurable dashboards and key metrics reporting. Financial Management and Forecasting NetSuite Financials provides comprehensive, proven financial/ERP capabilities that integrate delivery processes. NetSuite financials takes your business beyond traditional accounting software and equips you with the visibility you need to make better, faster and accurate decisions.
  • Comprehensive financial management accelerates financial close and ensures accountability and compliance.
  • Integrated quote-to-order-to-cash process accelerates cash flow, drives sales and improves customer satisfaction.


Healthcare


NetSuite’s cloud-based financials/ERP and omnichannel commerce software suite is the best choice for manufacturers wanting a complete business solution. Its comprehensive functionality, which includes CRM, HCM and ecommerce, provides manufacturers with the software needed to run a modern business. A best-in-class architecture enables extended, yet seamlessly-integrated, global networks of suppliers and partners—these networks perform maximally because information is available in real-time everywhere.


Solution Highlights

  • Comprehensive financial management capabilities.
  • Robust financial controls and financial regulatory compliance.
  • Multiple entity management and consolidation. Real-time reporting and analytics.
  • Improved customer service and partner engagement.
  • Inventory management and manufacturing resource planning.
  • Industry leading customization and integration capabilities.

Key Features

  • A highly scalable back-office system that enables growing health care organizations to streamline mission-critical business processes.
  • Improved visibility and transparency with real-time access to key data in a single system.
  • Deeper insight into production data and/or practice area profitability through robust reporting capabilities.
  • Unprecedented flexibility with a development platform flexibility that enables practices and organizations to tailor the system to meet their unique requirements—integrates with Epic, Allscripts and Athena.
  • A cloud-based system that is safe, secure and reliable. Anytime, anywhere access lets you work on your schedule so that you can focus on your goals.


Education


The education industry is both large and diverse. Regardless of where your company or organization fits in the market, however, chances are your vision is being driven by innovation. Digital technologies are transforming traditional classrooms and connecting with a generation of students who were born with digital DNA. Meanwhile, the cloud is enabling greater access to e-textbooks, course materials and study guides, and new ways of consuming higher and specialized education are being created by startups and nonprofits alike.


Yet while education itself is on the brink of a technological revolution, companies and organizations operating in this sector are still plagued by inefficiencies and outdated systems in their back-offices. Traditionally, to manage their accounting and operations, education companies have relied on spreadsheets, aging on-premise systems, point solutions, or worse, a combination of all three. With NetSuite’s unified model, educators can stop wasting time and resources managing multiple data silos and start leveraging real-time visibility for insights into their business.


  • Operational costs and inefficiencies – Budgets are tightening and compliance demands are growing, but education companies are wasting valuable time, money and resources managing their IT environment.
  • Growth and expansion of the business – Opening new schools or locations to expand reach is a challenge because the current software landscape can’t scale quickly enough to step up to the next level.
  • Developing new business models – Education organizations seeking to build out a new online business unit or other service offerings struggle to get it off the ground because their existing finance and accounting structure struggles to account and bill for it.
  • Understanding key business metrics – Business model complexity leaves education companies struggling to gain insight into profitability, preventing them from optimizing their go-to-market strategy.
  • Consolidating financials – Closing the books is a monthly time-consuming experience involving several sets of books and spreadsheets, especially with multiple schools and locations.
  • Exchange of information – Education companies with multiple software applications to run their business (accounting, HR, CRM, Excel) cannot communicate in real-time across disparate systems.
  • Managing new and existing talent – Employees are constantly frustrated by their HR experience, and management is struggling with duplicative and manual processes associated with multiple systems.


Transportation & Logistics


Operational complexities and rising supply chain costs introduced by globalization are quickly making third party logistics providers (3PLs) one of the most profitable sectors of the US and global economies. As manufacturers, distributors, retailers and others focus on revenue generating activities, 3PLs are reaping the rewards of an increase in demand for outsourced logistics.


  • Added operational costs and inefficiencies – Spending ever more time and money away from meeting the customer’s needs when other costs are rising in the business.
  • Growth and expansion of the business – 3PLs may be gaining recognition amongst manufacturers and distributors who want to add warehouse capacity, but can’t scale quickly enough to meet the demand.
  • Experimenting with something new – 3PLs seeking to build out new service offerings will struggle to get it off the ground because the existing finance and accounting structure struggles to account and bill for it.
  • Cutting back when times change – It’s hard to scale back quickly in some areas, or smoothly manage a divestment scenario.
  • Seamless integration of acquisitions – It’s difficult to manage the new entity and have clear control (and compliance) without disrupting its operations.
  • Understanding key business metrics – Many 3PLs struggle to gain insight into profitability by customer, product or service category and it’s preventing them from optimizing their go-to-market strategy.
  • Consolidating financials – Closing the books is a monthly time-consuming experience involving several sets of books and spreadsheets, especially with multiple subsidiaries.
  • Exchange of information – 3PLs with multiple software applications to run the business (accounting, HR, fleet management, WMS) cannot communicate in real-time across the disparate applications.
  • Managing new and existing talent – Employees are constantly frustrated by their HR experience, and management is struggling with duplicative and manual processes associated with multiple systems. In all of these cases 3PLs must focus on their core business, understanding the customer, the market and the quality of service they’re delivering.


Non Profit


Through the Social Impact program, NetSuite provides a suite of cloud software built for nonprofits of all sizes to improve operations and grow their mission. The three pillars of the program ensure that all nonprofits globally are able to successfully implement, utilize and accelerate their impact on NetSuite through the entire customer lifecycle.


Core Accounting

  • Manage finance and accounting with comprehensive features, including GL, AR, AP, cash management, statistical accounting, allocation schedules, and real-time financial reporting. Consolidate all processes within one system.
  • Automate financial processes and improve productivity with approval routing workflows for Journal Entries, Purchase Orders and Vendor Bills.
  • Built-in period close checklist to streamline period end closing processes and to support multiple Net Asset accounts.
  • Close with confidence with automation for expense amortizations; and dynamic allocations for direct and indirect costs.
  • Ensure proper security, support compliance, and audit trail visibility.
  • Use just one system to track receivables and revenue transactions, making Accounts Receivable aging, financial reporting, metrics, and reconciliation simple and accurate.
  • Use over 250 FASB Compliant Standard and customized reports and role-base dashboards and KPIS, designed specifically for nonprofit staff and leadership.

Innovate Stewardship of Funds

NetSuite delivers an auditable and comprehensive fund accounting framework that allows your nonprofit to manage diverse revenue streams, correlate fund sources to associated expense transactions, and efficiently manage fund restrictions and grant requirements. NetSuite's out-of-the-box solution automates FASB compliance with a streamlined Chart of Accounts using predefined GL custom segments to create unparalleled visibility into cash flow, fund balances, restricted revenue, functional expenses, grant activity and performance metrics.

  • Track and manage diverse funds by relevant and associated segments.
  • Manage resourcing by restriction, and report expenses against programs or grants to transparently show where funds are spent in real-time, at any time.
  • Create FASB reports—Statement of Functional Expenses, Statement of Activity, Cash Flow, Statement of Functional Expenses—on the fly.
  • Tag and report by Revenue Type, Subtype, Restriction, or any other segment with or without GL impact on the line level for data entry and FASB compliant reporting.
  • Track a matrix of relationships between multiple revenue sources and multiple segment dimensions and geographic regions.
  • Create unlimited GL segment code combinations for accurate and easy data entry.

Automated Grant Life Cycle

NetSuite's grant accounting elevates efficiency and visibility into the grant lifecycle with the ability to track terms and conditions, track many projects to many grants, automate time and expense management for billable and nonbillable transactions, and manage expenses across multiple years. Grants in NetSuite maintain all relevant milestones so that vital information is in a single unified system.

  • Projects link back to grant records to automate time and expense tracking for billable and nonbillable transactions over the life of the grant.
  • Many projects and funds can correlate to many grants.
  • Dashboards provide drill-down reporting into all grant-related transactions, including journal entries, vendor bills and expense reports.
  • Track all expenses, vendors, subcontractors, employees associated to an event, conference, and fundraiser.
  • Manage Internal projects with time, expenses and scheduled tasks.
  • One system manages donor/grantor/funder/funding source data from receivables and revenue transactions, which simplifies A/R aging, financial reporting, metrics and reconciliation.
  • Simple setup of GL segment combination codes to automate data entry of transactions against a grant. Easily identify and tag restricted revenue transactions associated with donations/grants/awards.
  • Complete visibility of revenue to date and invoicing requirements by funder and grant/award requirements.
  • Billing Schedules setup within NetSuite to bill grants automatically. Alerts can be setup to notify accounting staff to invoice on specific dates.
  • Reports and Searches can have date or period filters for invoicing requirements by funder or grant.