What is Netsuite and Why Do So Many Startups Choose It

You don’t need hundreds of millions in revenue to manage your business like those companies do. But with a powerful tool, you can punch above your weight class. Enter NetSuite. This Cloud-based ERP system isn’t another piece of software. It’s a comprehensive business management suite that integrates accounting, CRM, inventory, e-commerce, and anything else you need to manage your organization, people, and customer relationships. 

But what is NetSuite, and why do so many startups choose it? Let’s find out. 

What is NetSuite

Imagine NetSuite as a multi-tool for your business. Within a single platform, you have an entire team of “specialists” at your disposal, minus the politics, to seamlessly handle accounting, inventory management, customer relationship management, forecasting, and much more. 

With NetSuite, you have flexibility for quickly evolving companies and market conditions, scalability to ensure you have room to stretch your wings, and real-time data access to make better decisions. 

This single platform gives you a 360-degree view of your business at all times from anywhere in the world. 

Why NetSuite over Other ERP Systems

NetSuite was built for the Cloud. No one wants to maintain expensive hardware when you can access today's technology, especially if you’re a globally distributed company. Whether adding new customers or expanding into new markets, NetSuite is scalable and customizable to exactly what you need to stay agile and responsive to whatever opportunity comes your way. 

You can access real-time data, analytics, and reporting tools that provide critical insights into your next steps at every stage of growth. 

Some other key reasons why NetSuite is better than other ERP systems include the following: 

1. It eliminates the need to juggle multiple software systems, which means less room for error and a smoother, more data-driven operation. 
2. You don’t have to mess with cumbersome on-premise servers and IT headaches. 
3. It has a robust network of 600+ partner applications and tools to build third-party integrations for seamless adoption. 
4. With subscription-based pricing, you can manage costs more effectively. 

Why Do Startups Love NetSuite

If you’re a startup in the single-digit to double-digit revenue range, you’re at a mission-critical time in your business. Your decisions during this period could make or break your growth trajectory. 

That’s why startups choose NetSuite. Because it allows you to scale efficiently and effectively. You can ditch the patchwork of disparate systems and use this all-in-one solution on a single platform that provides real-time, 360-degree views. It’s amazing because it actually does what it promises. 

Let’s look deeper into why startups love NetSuite to grow their operations. 

Experience Seamless, Streamlined Operations

If you’re juggling multiple software systems right now, stop it. You don’t have to put yourself through that kind of suffering because software already exists to solve that problem. With NetSuite, you have a single platform showing you the ins and outs of every aspect of your business. As you grow, the company becomes more complex, and NetSuite reduces errors and helps you make better decisions moving forward. 

Scale Your Business Painlessly

Well, with less pain. Growing a business will always come with some pain points, but you can avoid many of them by using NetSuite. If you’re a hyper-growth company, the ability to scale your operations is even more imperative. You need an ERP system that can evolve with you, whether that’s quickly onboarding new team members, entering international markets, or launching new products. 

Manage Costs Based on Your Budget

Managing costs is a top priority for startups, so NetSuite’s subscription-based pricing model is perfect. You get the financial flexibility that many traditional ERP systems can’t match. Without hefty upfront expenses, you can allocate your resources more strategically. NetSuite’s integrated features also reduce the need for expensive customizations and third-party solutions, so you get the most bang for your buck while maintaining a lean operation. 

Going International is Easier

To expand into global markets, you must have an ERP system to keep up with your goals. NetSuite offers support for multiple currencies, languages, and tax regulations so you can enter new markets without switching systems or dealing with complex integrations. Now, you can go after international opportunities knowing your business is equipped to handle it. 

Get Up and Running Quickly

Time is money, and in the fast-paced world of startups, you need to get your systems up and running quickly. ERP implementations are notoriously complex and time-consuming, but NetSuite overcomes these hurdles. It has pre-configured processes and best practices so that you can dive right in. And an expert can help customize NetSuite to suit your needs at every stage of growth. 

Implementation Best Practices 

If you want to implement NetSuite into your startup, here’s a quick guide on the steps to take before, during, and after implementation. A smooth transition is crucial and requires a structured approach to ensure you optimize NetSuite for your business properly and see the greatest ROI. 

Before Implementation

You want to lay the groundwork for implementing NetSuite into your business. To do that, follow the steps below. 

1. Analyze your organization’s needs, processes, and short and long-term goals. 
2. Gather insights from key stakeholders across the business and ensure you’re aligned. 
3. Assess your current data landscape and clean up any inconsistencies to ensure smooth data migration. 

During Implementation

You want to ensure a smooth transition, so configuring NetSuite to your business needs while leveraging its built-in features will help minimize customizations and speed up the process. Some other steps you’ll need to take during the implementation of NetSuite are as follows: 

1. Establish a dedicated project team and manager to oversee the process. This team should conduct rigorous testing at every stage of implementation to identify and resolve any problems. 
2. Consider a phased rollout to make troubleshooting easier and to manage resources effectively. 
3. Have regular check-ins to monitor progress and ensure the rollout is going smoothly. 

After Implementation

Post-implementation, you want to maximize NetSuite’s potential. Now is the time to optimize and maintain your NetSuite environment. Some steps you can take after implementation include: 

1. Review system performance and configurations regularly to ensure they align with your evolving business needs. 
2. Encourage continuous learning and adoption to address any user issues and to get the most out of the platform. 
3. Document processes and customizations to foster a culture of knowledge sharing within your organization. Documentation creates a valuable reference for future updates and troubleshooting and ensures you reap the full benefits of NetSuite. 

Key Takeaways

In the world of ERP systems, NetSuite has an earned reputation as a versatile, scalable, and cost-effective solution for startups. Let’s recap. 

What is NetSuite? It’s an all-in-solution for startups drowning in inefficiencies, like fragmented systems, manual tasks, and a lack of insights into data. With NetSuite, you can make confident, data-driven decisions to scale sustainably and rapidly. 

Why do startups love NetSuite? 

• You no longer have to juggle multiple software systems. Everything comes together within a single platform, so you have a 360-degree view of your operations in real time from anywhere in the world. 
• It scales with you. NetSuite is highly customizable, and it also has built-in features and integrations to make scaling simple. 
• You can better manage costs thanks to NetSuite’s subscription-based pricing. Now, you can invest in your future without breaking the bank. 
• Going international has never been easier, thanks to NetSuite’s capabilities to handle multiple currencies, tax regulations, and languages. 
• You don’t have to wait forever to get NetSuite up and running. 

While NetSuite isn’t magic, it can inject the feeling of magic into your business if you’ve been trying to do everything on your own. Although it comes with its challenges, with the right expertise, you can streamline your operations, create a culture of transparency and innovation, and drive the growth of your company. To learn how NetSuite can help you achieve your business objectives, contact Lineal here. 

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