NetSuite ERP: Pros and Cons Every SME Should Consider in 2024 and beyond

Small businesses often have hectic and convoluted processes, with most operations supported by spreadsheets. As they expand their product lines, locations, or customer bases, these spreadsheets become difficult to maintain and manage. This is why many businesses leverage entry-level software solutions to operate their operations. 

While these solutions may work for short-term goals, they fall short when managing a wide variety of data at an enterprise level. Distinct stand-alone solutions pose integration challenges, which is why NetSuite ERP, a cloud-based solution comes into the picture. 

For those exploring how the NetSuite ERP platform can streamline business operations and reduce dependency on manual processes, this blog post is for you. We will delve into the benefits of NetSuite ERP, its pros and cons, and why it stands out as an ideal choice for small to medium-sized enterprises (SMEs). 

Goals of a small business with NetSuite ERP

• Cutting total cost of ownership
• Improving KPIs and metrics
• Enhancing business processes
• Ensuring regulatory compliance
• Boosting solidity

Continue reading to discover more!

NetSuite ERP: A brief introduction

NetSuite ERP (Enterprise Resource Planning) is a cloud-based solution that consolidates the complete finance and operations of your business into one platform. It also automates key accounting tasks to provide more consolidated and comprehensive business reports. In essence, it empowers businesses to operate in an automated environment, eliminating redundant tasks

• Customized Strategies: NetSuite ERP provides tailor-made strategies that align with your specific business requirements, enhancing overall efficiency and productivity.
• Seamless Integration: Easily integrate NetSuite ERP with your existing systems to simplify and streamline your workflows, reducing complexity and improving operational consistency.
• Real-Time Insights: Gain valuable real-time insights into your business operations, enabling you to make informed, data-driven decisions that drive growth and performance
• Cost-Effective Plans: Access a range of budget-friendly plans without compromising on quality, making NetSuite ERP a cost-effective solution for businesses of all sizes.
• Scalability: NetSuite ERP scales with your business, accommodating growth and changing needs without requiring significant system overhauls or replacements.
• Global Reach: Support for multiple currencies, languages, and tax regulations makes NetSuite ERP an excellent choice for businesses operating in global markets.
• Customer Relationship Management (CRM) Integration: Leverage integrated CRM features to manage customer interactions, sales processes, and service operations, enhancing customer satisfaction and loyalty.

NetSuite ERP disadvantages

• Subscription costs can fluctuate based on usage and add-on functionalities.
• Premium support services are available at an additional cost.
• Tailoring reports to specific needs may require expertise.
• The initial implementation of NetSuite ERP can be complex and time-consuming, requiring careful planning and resource allocation.
• As a cloud-based solution, NetSuite ERP's performance is dependent on a stable internet connection, which could be a limitation in areas with unreliable internet service.

Why should small businesses choose NetSuite ERP?

Despite its wide range of benefits, the NetSuite ERP platform in Dallas, Austin and the entire US empowers small businesses with an all-in-one environment to perform, monitor, and maintain business operations. Significantly, it can scale as your business expands.

#1. Replace manual process

Manual processes do not boost productivity. A single employee must perform multiple manual tasks daily to gain insights and achieve goals. In contrast, automating these tasks can save significant time and effort.

To enhance productivity, you need to either increase the volume of work completed or automate the tedious tasks within your business. Hiring additional team members too early can impede business growth, further emphasizing the need for automation.

NetSuite ERP offers a range of automation features designed to streamline various business processes, from financial management and inventory tracking to order processing and customer relationship management. By reducing manual data entry and repetitive tasks, businesses can achieve higher efficiency and accuracy.

Moreover, the flexibility of NetSuite ERP allows for customized automation to suit your specific business needs. Whether it's setting up automated alerts for low inventory levels or configuring complex approval workflows, NetSuite ERP adapts to your unique requirements, ensuring that your business processes run smoothly and efficiently.

By leveraging the power of automation, NetSuite ERP empowers businesses to reduce operational costs, improve productivity, and scale operations seamlessly. This not only boosts overall performance but also provides a competitive edge in the market, enabling your business to thrive in an increasingly digital landscape.

#2. Robust data security measures

Are data breaches, malware attacks, and suspicious activities challenges only for large enterprises? Not at all! In reality, hackers target companies of all sizes. Small businesses, in particular, often face more frequent attacks due to typically having fewer security measures in place.

Small and medium-sized enterprises (SMEs) are particularly vulnerable due to limited resources and less robust cybersecurity infrastructure. Cybercriminals view these businesses as easy targets, exploiting their lack of advanced security protocols. A recent study found that 18% of malware attacks target small businesses, and 87% of businesses compromise customer data during attacks (Source: Strongdm).

Companies using the NetSuite ERP system protect their customer data with robust security measures. These measures restrict users from editing data and set custom permissions to ensure the utmost data security.

Whether securing your website with robust measures or seeking two-factor authentication and DDoS attack protection, the NetSuite ERP system in Dallas, Austin, and entire US can help you safeguard your customer data. Investing in robust cybersecurity measures not only protects your business but also builds trust with your customers, fostering long-term success.

#3. Cloud-based solutions

In today's landscape, where working from home or remotely has become the 'new normal,' the importance of operating from the cloud cannot be overstated. Cloud-based data allows businesses to grant authorized users instant access to information with just one click.

Since NetSuite ERP is a fully cloud-based platform, it provides your employees with access to the crucial information they need, anytime and anywhere. This also ensures state-of-the-art scalability, which is ideal for small businesses. With the option to expand and scale your license capabilities, you can pay extra for unlocking the features you need.

#4. Lower cost of ownership

As a web-based hosted solution, the NetSuite ERP platform offers cost-effective plans that eliminate the need for hardware, IT staff, software maintenance, and security expenses.

NetSuite ERP implementation compatible and affordable compared to other cloud-based solutions, offering out-of-the-box core software functionality and scalability without the need for additional infrastructure costs. It features a flat rate per license, allowing you to purchase a license per user rather than an entire package.

Additionally, NetSuite enterprise resource planning eliminates the need for costly and time-consuming upgrades. The ERP system introduces two updates annually, notifying users of available software updates and new functionalities, thus reducing the overall software maintenance and ownership costs for small businesses.

#5. NetSuite built to support integration

The enterprise-level package may seem like a costlier solution for small businesses, but integrating the required apps can help you meet unique requirements. The NetSuite ERP system supports custom code, native integration through API (Application Programming Interface), and connectors, eliminating the complexities associated with the integration process.

By leveraging NetSuite ERP's exceptional integration capabilities, small businesses can tap into other crucial software applications that add meaningful value to their operations.

For instance, a popular integration among small businesses is combining HubSpot and NetSuite. Many of them continue to leverage the HubSpot platform, while some want to unlock the benefits of enterprise resource planning. Fortunately, with NetSuite APIs or native integration, this is possible.

Ready to elevate your small business with NetSuite ERP platform?

When selecting a NetSuite ERP system for your small business, it's crucial to consider several factors, such as your business requirements, goals, and budget. By evaluating these aspects, you can pinpoint the right NetSuite ERP implementation partner, such as Entartes, who can address your challenges and enable your success in a competitive market.

With over 15 years of experience in delivering NetSuite ERP implementation services, Entartes is well-prepared to enhance business productivity and optimize the returns on your small business's ERP investments.

Why Choose Entartes?

• Comprehensive Expertise: Our extensive experience with NetSuite ERP enables us to offer comprehensive solutions that cover all aspects of your business operations, from financial management to inventory control and customer relationship management.
• Customized Solutions: We understand that each business is unique. Our approach involves creating customized strategies and solutions that cater specifically to your business goals and operational requirements.
• Proven Track Record: With a history of successful NetSuite ERP implementations across various industries, Entartes has built a reputation for delivering results that drive growth and efficiency.
• Ongoing Support Our commitment doesn't end with the implementation. We provide continuous support and training to ensure your team can fully leverage the capabilities of NetSuite ERP, adapting to any changes or challenges that arise.
• Scalable Solutions: As your business grows, so do your needs. Entartes ensures that your NetSuite ERP system scales seamlessly with your business, supporting your expansion without significant overhauls.
• Innovative Approach: We stay ahead of the curve by incorporating the latest technological advancements and best practices into our implementation strategies, ensuring your business remains competitive.