When you're entering new markets or expanding your footprint, agility and flexibility are essential elements of your business software. It should grow with you and solve the complexities of global expansion, new product launches and business acquisitions. If your solution doesn't have the right resources to overtake the competition, consider switching to NetSuite.
NetSuite powers some of the world's biggest businesses — along with small and medium ones as they grow. NetSuite sets you up for success with software tailored to your industry and organization. If you want to become a leader in your field, start by moving away from outdated and inefficient enterprise resource programs (ERPs) and seeing what NetSuite can offer.
How NetSuite Solves Problems for Fast-Growing and Enterprise Businesses
Fast-growing businesses and enterprises have unique challenges associated with growth and complexity. Here are some of the ways NetSuite's robust cloud-based platform solves them:
As businesses grow, many of them lose visibility. Processes and departments get scattered across different software solutions, resulting in siloed information, inefficiencies and a poor environment for collaboration.
By placing your data in a single, centralized location, NetSuite offers a complete view of information across the organization. You can make decisions in real time and analyze data from all departments.
International expansion is understandably complex. When entering new countries, you must meet a host of new requirements like compliance laws and trade restrictions. You'll also need to identify different strategies based on new supply chains and processes. Siloed systems make it difficult to manage these diverse requirements for each user and location.
NetSuite OneWorld is designed for global business management, simplifying expansion with features for doing business across borders. It offers real-time views into your international activities and eases reporting to various legal entities. Have a multilingual team? NetSuite's interface supports 27 languages and is used in over 217 countries.
Some software is built for businesses at certain stages. As you outgrow a stage, you need new software to match your needs. Many businesses also try to keep outdated legacy systems to avoid a complex switch to a new business program, but with fast growth, these outdated systems can have dramatic impacts.
NetSuite grows with you, from being a midsized, fast-growing business to a thriving international enterprise. It's customizable and extremely scalable to support your organization as it evolves and builds demand. The cloud also makes it easier to implement without any on-premise infrastructure.
Many business owners worry about the security of their data in the cloud. It's a fair concern, but the quality of your cloud solution makes all the difference. NetSuite uses one of the most secure cloud networks on the market and enlists security features like:
- Strong encryption.
- Multifactor authentication (MFA).
- Token-based authentication.
- Granular password policy configuration.
- Comprehensive audit trails.
- Detailed role-based access.
- Backups and disaster recovery plans.
- Network- and server-based intrusion detection systems (IDSs).
NetSuite has security and privacy certifications for many industry standards. Businesses trust NetSuite in some of the most highly regulated fields, like financial services and health care.
What Size Companies Use NetSuite?
One of NetSuite's biggest perks is its ability to flex to the needs of virtually any business. It fits everyone — from those in the small business stage to massive enterprises. You can implement it at any stage, too, thanks to simple deployment in a cloud-based platform.
Businesses using NetSuite don't all use it the same way. NetSuite products support many core functions, including an ERP, a customer relationship manager (CRM), accounting software, OneWorld and systems designed for specific industries, such as field service, professional services and omnichannel commerce. With so many options, you can easily customize NetSuite for your company's unique needs.
Companies that use NetSuite often implement it to help with the demands of expansion and increased business complexities. Here are a few examples of large enterprises that have used NetSuite to help them succeed:
- Corkcicle: Corkcicle creates a wide range of cooling and insulating products like drinkware, coolers and barware. With over 4,000 retail partner locations and a lean team, Corkcicle used NetSuite to meet demand and outsource tasks for international distribution.
- Lovesac: Lovesac's specialty furniture uses many channels, including retail showrooms and direct-to-consumer e-commerce. It turned to NetSuite for scalability and adaptability as it grew rapidly, went public and launched new products.
- Beekman 1802: As it grew quickly to 250 employees, Beekman 1802 used NetSuite to tackle increased complexity and meet the demand for its goat milk-based skincare products. Implementing the software and accessing all of the company's data helped Beekman 1802 reduce its average fulfillment time from three days to next-day.
- Honey Stinger: With its honey-infused athletic nutrition products, Honey Stinger makes sales across B2B and B2C channels, including marketplaces and major retailers. Since adding NetSuite, Honey Stinger has had its highest-grossing months, added a warehouse and switched to a third-party logistics (3PL) fulfillment model.
- e.l.f. Cosmetics: e.l.f. brings its affordable makeup products to major retailers, marketplaces and its own e-commerce storefront. While expanding its business, e.l.f. used NetSuite to replace legacy systems and centralize its data, optimizing stock and meeting on-time delivery goals.
The Benefits of NetSuite for Large Businesses, Enterprises and Fast-Growing Companies
Businesses like these turn to NetSuite's enterprise-level resources and capabilities to meet a broad range of goals, such as improving efficiency or speeding up delivery.
Some of the advantages of NetSuite for large businesses and enterprises include:
Streamlined Everyday Operations
NetSuite can streamline everyday tasks like accounting, order management and fulfillment. With faster processes and fewer employees required for each one, you can enjoy a more scalable system. Avoid scrambling to meet demand by minimizing complex hiring requirements as you grow.
Powerful Business Insights and Analytics
Since your data is all in one place, NetSuite's enterprise tools can use information from all areas of business to find new insights and areas of opportunity. It tracks historical interactions between you, your customers and your partners, providing clear records and collecting information with every action.
Support for International Networks and Demands
As you enter international markets, NetSuite can handle complex demands for massive networks of locations and companies. Built-in tools and language support allow you to easily conduct international operations and communication.
Extreme Scalability and Limited Infrastructure Requirements
As a cloud-based platform, NetSuite's scalability eliminates the resource-intensive infrastructure of on-premise solutions. When it's time to scale, NetSuite is ready.
Customizability and Adaptability
NetSuite is also extremely customizable, so you can adapt it precisely to your business needs. Choose products designed for your industry, make granular adjustments, build custom workflows and access a large library of third-party add-ons for extra functionality. These custom capabilities allow NetSuite to adjust to evolving requirements and ensure it always supports your business goals.
Reach Out to Learn How The Vested Group and NetSuite Can Streamline Your Business
With a vast range of powerful features and extensive customization options, NetSuite helps businesses of all sizes streamline their operations and meet goals. Grow and expand rapidly with this scalable software.
Ready to explore a NetSuite implementation for your business? The Vested Group has been a NetSuite partner for over 11 years and even earned Partner of the Year in 2022. We can help you plan, deploy and support your established or fast-growing business with NetSuite products tailored to the organization. Reach out today to learn more!