Enterprise Resource System Using NetSuite

3484 words (14 pages) Essay in Information Technology

18/05/20 Information Technology Reference this

Disclaimer: This work has been submitted by a student. This is not an example of the work produced by our Essay Writing Service. You can view samples of our professional work here.

Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays.

Abstract

In any present-day business, the adoption of technology is considered a primary factor in determining the overall performance. The incorporation of an enterprise resource planning system, ERP, it is one way of providing an integrated view of the crucial business processes. The proposed software for this project is NetSuite, it is a known ERP system. The software has in-built business intelligence, which is combined with financial management capabilities. The system is scalable, complete, and targeted at providing a cloud-based solution, and thus, it would apply to large enterprises, mid-sized businesses, as well as those that are having a high growth. NetSuite software has a feature, which tracks the workflow and makes approval because of the in-built business intelligence capabilities. The other crucial element in the proposed system is NetSuite CRM+, which is vital in customer relationship management. The software is flexible, which makes it facilitate smooth functioning across different areas of an organization. The software was proposed based on the numerous merits which it brings to the business in the highly competitive market environment.

Introduction

The main objective of establishing a business organization is to ensure that returns from the venture are maximized. Entrepreneurs must work around the clock for mobilization of resources and make sure that the business goals are achieved (CIO, 2019). Various mechanisms are applied to enable the accomplishment of the missions. These encompass the creation of a working environment which is favorable, the adoption of the right technology as well as ensuring that there is the provision of suitable services and products into the market. Any business organization that aims at growing and attain global recognition have to make better consideration of technological trends. Operational data is a requirement for all levels of decision-making in organizations. It is essential because it gives a comprehensive account of any transpiring aspects. The inclusion of technological solutions in the business and running of its operations enable improvement of the anticipated outcomes. Organizations have to establish and implement business process management systems that have integrated applications for the automation of its back-office functions (Beal, 2019). Enterprise Resource Planning, ERP, is a perfect example of a comprehensive system that is suitable for a growing organization because it covers all aspects. In this context, we will explore the proposed ERP system for a business seeking to adopt technology in its operations. The proposal will explain the need for the suggested software, compare available products, describe the features, technical aspects, as well as the language skills set by the software.

Purpose of the Enterprise Resource System

Businesses rely on enterprise resource planning systems for the collection, storage, management, and interpretation of data (GC11, 2017). The ERP system comprises of various components that are cloud-based and enables accurate planning for system costs (Shiao, Daniel, Brislen, Krishnakumar, & O’Donnell, 2014). The study focuses on discussing the implementation of the NetSuite software, as an ERP system, in an organization for the management of critical business processes. Information access in a flexible manner is essential to enable the acceleration of business performance through, the use of most deployed cloud enterprise resource planning solution in the world. NetSuite software facilitates the flexibility of accessing critical information in an organization, which is a very crucial element in determining and guaranteeing the anticipated growth. Therefore, any company or a business organization that has the objective of realizing growth must consider adopting these technological trends, which also enable the gaining of competitive advantage. In the process of embracing new technology in an organization, it is vital to consider the operational changes that the technology enables rather than the technology itself, because that is what matters the most (Widyastuti & Irwansyah, 2017).

Get Help With Your Essay

If you need assistance with writing your essay, our professional essay writing service is here to help!

Find out more

The small and medium businesses, SME, have embarked on embracing globalization in today’s digital era for all their operations. The incorporation of an ERP system is one way of providing an integrated view of the crucial business processes. NetSuite is critical in organizations because it enables the management of business processes from a single system. For instance, companies would use this software to track their financial records, maintain an effective customer relationship management system, host and manage e-commerce stores, as well as management of inventories.

NetSuite Software

Flexible financial management solutions are a requirement in today’s organizations. These solutions must enable the accommodation of the various business needs, which changes dynamically (Oracle, 2017). The NetSuite software is an ERP system that has the capability of enabling business organizations to realize these solutions. The implementation of this software in an organization would allow smooth management of information technology costs, streamlining of procurement, and order management processes. This optimization of efficiency in accounting, improvement of the employee productivity, as well as the elimination of spreadsheet-based reporting which is manual and intensive (Oracle, 2017). Generally, the NetSuite software is the type of enterprise resource planning system which offers cloud-based solutions that are beneficial to a business organization. The system is scalable, complete, and targets at providing a cloud-based solution. Thus, it would be apply to large enterprises, mid-sized businesses as well as those that are having a high growth (Gilbert, 2019). The software is engineered to ensure that it scales with the growth of the businesses and also streamlining of mission-critical business processes (Oracle NetSuite, 2019). The benefit of this is to ensure that companies are allowed to have a clear focus on what they are involved in doing and also react to opportunities presented in the market swiftly and with confidence. The system is fundamental because it gives business organizations the appropriate tools that are needed in the acceleration of growth as well as driving innovation. For instance, it covers all the critical aspects of running the business, such as offering solutions in the management of the supply chain and advanced financials.

Comparable Products

There are various types of enterprise resource planning systems in the market that serve the same purpose, but the performance is different. It is, therefore, very important to take time before deciding on choosing a new software solution for business (Roberts, 2019). The process would entail a consideration of various factors and characteristics of the software products to check what one can offer to allow the business to be the front runner. NetSuite software is comparable to the Sage ERP, because they both serve a similar purpose. Sage ERP is a popular choice that is applied in manufacturing and distribution processes (Roberts, 2019). On the other hand, NetSuite software provides similar services to business organizations, but it is scalable and the solutions offered are cloud-based. This software has in-built business intelligence, which is combined with financial management capabilities. However, there is a comparison between the various ERP systems, which enables the clients to have a fair judgment before they make choices. For instance, Sage and NetSuite ERPs can be compared based on their features and pricing (Roberts, 2019). Regarding the features of the systems, NetSuite has impressive features that are in various categories. These include features like accounting, manufacturing, payment management, demand planning, management of assets, vendor and purchases, as well as warehouse and inventory control management. All these are very crucial to a business organization that resolves to adopt the software because it tackles in almost all areas of the management of business processes. The Sage ERP comprises of some features which are categorized based on modules (Roberts, 2019). For instance, there are distribution and financial modules, as well as a comprehensive platform for the management of various business processes.

The purpose of choosing NetSuite software over the Sage ERP for the management of business processes is based on the advantages that the former has over the latter. For instance, NetSuite provides a technological solution for businesses which allows them to have a multinational power (Roberts, 2019). Whereas, Sage ERP does not have this feature and making it a minimal, which is the reason why multinational companies opt out on not to use it. NetSuite software is flexible in its operations and can be supported by a range of operating systems. The hosting of this enterprise resource planning system is cloud-based, which enables information access from almost everywhere (Roberts, 2019). The operations of the software allow the user to customize functions based on their preferences and needs. Therefore, this gives the insight that NetSuite software is the better choice over the Sage ERP, although both products provide similar services to the end user.

The other ERP system which is comparable to the NetSuite software is the SAP ERP. It offers a range of functions such as management of warehouse, inventory, supporting the purchasing, reporting, and analytics functionality functions (Beal, 2019). It is a system that enables a smooth carrying out of various mission-critical business processes in organizations regardless of their sizes. However, when compared to the NetSuite, it is not considered usable because of its price and its quality of involvement from all. The SAP ERP is efficient in the provision of the required functions, but it is very restrictive in terms of usage and cost. 

Feature Description and Functions

As mentioned, the proposed NetSuite ERP system will comprise of various categories which serve different purposes. The software will provide financial business processes, such as financial planning and management (Iyamu, 2016). The in-built business intelligence in the system, when combined with the robust financial management feature, will enable the business to be driven smart with the realization of the quick decision making. The business organization will be requiring a system that handles various factions in the finance department from a single central point. From this point, the multiple functions which encompass finances the organization will be in a position to make a decision quickly and in an efficient manner. The financial planning feature of the software would enable enrichment of the planning process, through business user engagement and shortening of the cycle times (Oracle NetSuite, 2019). It is a feature in the system which also helps in the creation of intuitive planning and budgeting; as well as the provision of solution forecasting.

The system also comprises an order and billing management feature. Under this feature, the system handles various functions according to the requested service by the end-user (Oracle NetSuite, 2019). There is a customer center that enables the business to evaluate different customer functions. It is essential because it provides the study and evaluation of the customer behaviors in making orders and billing. From this element, the business can build a productive relationship with the clients because they could know the needs of the customers through this sub-feature. The order and billing management feature would provide the business with the capability to track the sales orders. Through sales ties, the process of order-to-cash is accelerated (Oracle NetSuite, 2019). There are billing and invoicing capabilities in this software that are enabled through this feature. The essence of the same is to ensure that there is the fulfillment of finance and pricing. The workflow in business organizations is a critical part because it shows that the organization is moving forward. NetSuite software contains the feature which tracks the workflow and makes approval because of the in-built business intelligence capabilities. The management of human resources is very critical because it is the central point in the determination of business success. Therefore, the adoption of the software in the organization will be a way of validating the progress and growth towards the realization of the set objectives.

Find out how UKEssays.com can help you!

Our academic experts are ready and waiting to assist with any writing project you may have. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs.

View our services

The production management feature in the NetSuite software is essential because it provides an efficient and quick inventory (Oracle NetSuite, 2019). The law of demand and supply has to be considered in every business organization to ensure that the market is kept alive. Market research is essential because it enables businesses to understand what is required in the market at any given time. This entails the knowledge of the quality and quantity of the commodity, which is expected to be provided in the market. The production management feature, which is available in NetSuite software, ensures that the business is equipped with the right information about the condition in the market (Oracle NetSuite, 2019). The information entails a comprehensive analysis of the demand in the market, and the cross-check of the supply by the competitors. In return, the business organization is in an excellent position to make the right decision regarding the management of its production process. Therefore, the adoption of the proposed system into the business organization will be beneficial because it will offer a clear perspective concerning the process of production.

The procurement management feature is also one of the essential features which this system contains (Oracle NetSuite, 2019). The process of procurement is important to all business organizations because it governs and shows how the purchase is made, as well as providing information about the expenses. Therefore, it is considered as one of the key and delicate processes in an organization because it determines whether the right actions are taken in response to various internal needs. The NetSuite procurement management feature provides the proper mechanism to businesses that enable improvement of the actual procure-to-pay process (Oracle NetSuite, 2019). There is also an employee center sub-feature that handles the issues about employees. The integration of this feature with the workflow management feature provides the business organization with a clear insight into the various requirements regarding the human resource. Business organizations must ensure that the element of human resources is taken care of because it is a critical determinant in ensuring that the business runs as required towards the accomplishment of the set goals. Under this feature, there is a sub-feature with deals with expenses, purchasing, and vendor management. The benefit of this element is to ensure that there is an optimization of the cost of ownership in the businesses. These are some of the benefits that will be realized by the business when the NetSuite ERP software is adopted in carrying out the various critical functions regarding procurement management.

The other feature, which is included in this enterprise resource planning system, is the warehouse and supply chain management. The process of producing, storing, and distribution of commodities in a business organization is essential because it determines the consideration of supply and demand forces (Oracle NetSuite, 2019). NetSuite software contains the feature which supports the fulfillment of the warehousing element. The essence is to define the execution of the distribution plan and management of the process from a platform which is central-positioned and collaborative. In the control of the in- and outbound logistics as well as end-to-end inventory need to be carried out on a real-time basis. The feature in the software enables the realization of this, as well as the minimization of the total ownership cost (Oracle NetSuite, 2019). The manufacturing process ought to be managed well to ensure that the required aspects in the market are considered before the full execution of the plan is done. The adoption of the software in the business organization will ensure that all these elements are taken care of as well as the precise mechanisms are put in place.

The other crucial feature in the system is NetSuite CRM+, which offers cloud-based customer relationship management solutions. The purpose of this feature is to provide support and service to the customers, automation of the marketing process (Roberts, 2019). Dealing with customers and creating a relationship is very helpful to a business because it enables the easing of making the required decisions. The feature also supports the automation of marketing because it is cloud-based, and these services can be found online (Roberts, 2019). The business organizations in which the software is proposed to be implemented will rely on digital media to make advertising of the services that will be offered. Therefore, the incorporation of the NetSuite software will provide the CRM+ feature to cater to the needs of the market automation.

Technical Specifications

The NetSuite software comprises various technical specifications that are tied to it and make it unique. For instance, it is flexible software which makes it have a smooth functioning across different platforms (Roberts, 2019). The software is scalable and web-based, and thus it can be hosted by different devices online. It can also run in different operating systems like Android, iOS, and Windows. It is a powerful software that can be customized according to the features and needs of the users. Lastly, it has the SFA, Sales Force Automation, which enables the customer relationship management functionality.

Validation for the Implementation

From the discussion above, it is notable that the enterprise resource planning system is essential to business organizations. Various benefits will be realized if the system is established and implemented in the organization (Oracle NetSuite, 2019). For instance, the broad range of robust features will enable all the business processes to be streamlined. The benefit of this is to free up the resources and time required in the acceleration of growth in the organization. The utilization of these features will also stimulate the drive for innovation as well as help the organization to remain competitive.

The NetSuite software comprises of in-built business intelligence, which enables the combining of visual analytics and the collected data. The importance of this element to the business is to enable the generation of actionable and meaningful business insights for the organization (Oracle NetSuite, 2019). The growth of the organization is the main objective, and the system choice ought to ensure that this is supported fully. The proposed ERP software is designed to support organizational growth through the addition and customization of functionalities concerning organizational growth.

According to O’Connel & Clancy (2010), ERP systems provide direction on how an organization can improve its brand image by providing innovative services as well as delivering high class services to customers of the company. Companies that adopt this technology have remained competitive as the system assures them of effective performance. 

Conclusion

The study shows that technology is one of the mechanisms that are applied to enable achievement of business goals. Business organizations that aim at growing and attain global recognition ought to make better consideration of technological trends in the market. The inclusion of technical solutions in the business and running of its operations enable improvement of the anticipated outcomes. Operational data is a requirement for all levels of decision-making in organizations. It is essential because it gives a comprehensive account of any transpiring aspects. One of the extensive systems that are suitable for a growing organization is ERP because it covers all aspects that facilitate the same. The NetSuite ERP is the software that enables the flexibility of accessing critical information in an organization, which is a very crucial element in determining and guaranteeing the anticipated growth. Besides, the system provides other additional benefits to organizations that reduce cost, recycle time and improve quality. Productivity is generally increased by adopting NetSuite ERP system as the system facilitates better planning making firms’ distinctive competitors. Therefore, the business organization is obligated to adopt this technology because it is beneficial and will enable growth to be realized and gaining a competitive advantage.

References

Cite This Work

To export a reference to this article please select a referencing style below:

Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.
Reference Copied to Clipboard.

Related Services

View all

DMCA / Removal Request

If you are the original writer of this essay and no longer wish to have the essay published on the UK Essays website then please:

Related Lectures

Study for free with our range of university lectures!