NetSuite is a powerful cloud-based business management software that offers a ton of features to help companies streamline operations, gain insights, and scale rapidly. With its unified platform encompassing ERP, CRM, ecommerce, inventory and more, NetSuite is feature-rich software that grows with your business.
If you’re considering NetSuite, it can be difficult to wrap your head around all that this robust tool offers. That’s why we’ve put together this guide to the top 10 NetSuite capabilities you should take advantage of. Read on to learn how these key features can benefit your business!
1. Unified Ledger
The unified ledger is the backbone of NetSuite, providing a single accounting system for your entire business across departments, subsidiaries, and business units. This consolidation eliminates disparate systems and spreadsheets, ensures consistency, and enables real-time reporting with a single source of truth.
With a unified ledger, you can:
- View financial snapshots at any time
- Create consolidated financial statements
- Manage multi-currency transactions
- Standardize processes company-wide
By centralizing all accounting on NetSuite’s ledger, you gain visibility, reporting, and control across the company.
2. Customizable Dashboard
NetSuite offers real-time, customizable role-based dashboards to meet the needs of all users. Instead of static reports, dashboards allow you to monitor KPIs on demand for faster decision making.
You can tailor dashboards to provide rapid insight into:
- Key customer metrics
- Sales performance
- Accounting snapshots
- Campaign results
- Inventory status
- Webstore analytics
With drill-down capabilities and flexible arrangements of graphs, lists, reminders, and saved searches, NetSuite’s dashboards enable you to operate proactively.
3. CRM Capabilities
NetSuite packs the punch of Salesforce with integrated CRM capabilities that unify customer interactions across departments in a single platform. This 360-degree customer view enhances engagement at every touchpoint.
CRM features include:
- Contact & lead management
- Opportunity tracking
- Marketing automation
- Customer support & case management
- Incentives management
- Partner relationship management
By managing all prospect and customer interactions in one CRM solution, you can scale while providing personalized sales and service.
4. Financial Management
NetSuite Financial Management equips businesses with specialized tools for accounting, financial planning, treasury operations, compliance adherence, and global financial consolidation.
Key components include:
- General ledger
- Budgeting and planning
- Auditing tools
- Cash management
- Fixed asset tracking
- Revenue recognition management
Together, these tools offer robust accounting capabilities so you can optimize financial processes.
5. Procure-to-Pay Workflows
NetSuite Procure-to-Pay (P2P) streamlines the full procurement lifecycle from purchase requests to vendor payments. Automated workflows ensure accuracy, efficiency, and end-to-end visibility.
Procure-to-Pay features include:
- Cost control tracking
- Purchase order automation
- Receiving and return workflows
- Invoice reconciliation
- Vendor self-service
- Payment management
Centralizing P2P enables you to reduce costs, digitize approval routines, and gain insight into spend patterns.
6. Order-to-Cash Workflows
Complementing P2P, NetSuite Order-to-Cash (O2C) manages the lifecycle from order through payment collection. By connecting sales, commerce, fulfillment, billing, and receivables, O2C accelerates cash flow.
Order-to-Cash capabilities include:
- Order management and approval
- Delivery status visibility
- Invoicing and collections
- Revenue recognition
- Customer self-service
Streamlining O2C results in improved order accuracy, increased customer satisfaction, and greater revenue visibility.
7. Commerce Capabilities
NetSuite supercharges commerce operations with unified functionality for B2B and B2C channels. Robust capabilities ranging from site design to order orchestration offer the ultimate pricing and promoting power.
eCommerce features include:
- Webstore set-up wizards
- SEO optimization
- Promotions engine
- Multiple payment options
- Order processing workflows
- Reporting across channels
With these tools, you can showcase products online, engage shoppers, complete sales, and fulfill orders—all from one platform.
8. Global Capabilities
For companies eyeing international expansion, NetSuite offers complete global business management support. Conduct business across countries, subsidiaries, currencies, and languages from a single cloud solution.
Global features encompass:
- Multi-language interface
- Multi-currency transactions
- Local tax compliance
- Global entity management
- Consolidated global reporting
This end-to-end global coverage lets you enter new markets while maintaining financial control.
9. Analytics & Insights
Making data actionable is crucial for performance. NetSuite Analytics provides intelligent, timely business analysis through self-service reports, dashboards, reminders, and notifications.
Dive into essential analytics across:
- Financial data
- Customer data
- Operational KPIs
- Commerce metrics
- Supply chain analytics
By revealing trends across systems, NetSuite enables data-driven strategy.
10. Customization Platform
No two businesses operate identically. NetSuite allows you to customize workflows, interfaces, reports, and more to match your needs as you scale.
Tailor solutions for:
- Specific roles
- Business processes
- Dashboards
- Forms and records
- Charts and searches
- Mobile optimization
With flexibility to adapt the system over time, you can innovate operations in step with business evolution. As long as you have an implementation partner like Anchor to help guide you, the possibilities are endless.
Why Choose Anchor Group for NetSuite Implementation?
Anchor Group is a 5-star global NetSuite Alliance Partner with over 10 years of NetSuite implementation experience. As NetSuite experts, Anchor serves as a strategic partner to optimize platform configuration.
Our customer-focused approach delivers solutions spanning:
Rapid Implementation
Anchor Group expedites rollout using leading project methodologies to actualize benefits faster. Our team holds 50+ NetSuite certifications to ensure best practices.
Tailored Customization
We customize interfaces, workflows, roles, and reports to solve unique needs. Custom code, scripts, and integrations future-proof investment.
Strategic Guidance
Beyond technical know-how, Anchor provides strategic advice to maximize value. We enable innovation on NetSuite’s agile platform.
Ongoing Optimization
Through regular check-ins, user training reinforcement, and solution upgrades, Anchor fosters continuous improvement after go-live.
Find out why top brands trust Anchor Group to deliver 4.9/5-star client satisfaction. Contact us to realize more transformative potential from NetSuite!
