NetSuite’s all-in-one ERP platform offers streamlined data, automation, and robust financial management capabilities, making it the most powerful business management solution for companies in nearly every industry.
Top 6 Industries NetSuite Can Revolutionize
First Things First: What is NetSuite?
NetSuite’s versatility and capabilities make it the strongest choice for a wide range of industries and business sizes, from startups to global enterprises.
As a cloud-based ERP system, NetSuite offers scalability, automation, customization, and ease of use, making it an appealing option for businesses looking to optimize companywide processes. Its multi-currency, multi-language, and cross-channel inventory visibility features also make it a valuable tool for companies with global reach.
Ultimately, NetSuite saves time and money for business and industry leaders, empowering them to grow strategically while delivering the best products and services to their customers.
Let’s uncover the six NetSuite industries that benefit most from the powerful cloud-based software.
1. NetSuite for the Distribution Industry
Wholesale distributors have faced industry-wide challenges over the past few years. Namely, supply chain fractures and an increasingly competitive landscape pose serious concerns for distributors.
Operational obstacles include:
- Reliably managing inventory without typing up tons of capital
- Ineffective drop shipment processes
- Processing and fulfilling orders with manual steps
- Inefficient picking and packing in warehouses
- Mismatched or incorrect financial data
NetSuite has solved these challenges for thousands of wholesale distribution companies. It’s built for wholesale distribution and can even help distribution businesses grow by offering:
- Cloud-stored data serving as a single source of truth across all distribution operations
- Streamlined order management through sales order and tax automation, approval workflows, seamless handoffs, and multiple shipping options
- Reducing costs with accurate stock level tracking, multiple warehouse management, returns, and timely replenishment
- End-to-end control and visibility over accounting and access to precise financial reporting
- Ecommerce solutions powered by real-time inventory updates
- Customer relationship management through customization and automated communication
NetSuite allows companies to focus on their core business objectives by increasing profitability, scalability, and customer satisfaction.
2. NetSuite for the Manufacturing Industry
NetSuite arms the manufacturing industry with modern supply chain management solutions spanning inventory management, warehouse management, financial reporting, order management, and CRM.
It’s the ultimate resource management and planning tool equipped to solve typical manufacturing industry challenges, including:
- Disconnected operational processes
- Inefficient production to shipping measures
- Unorganized warehouse and inventory management
- Supply chain bottlenecks
- Mismanaged quality control
- Cumbersome compliance requirements
- Inaccurate financial data
From the warehouse floor to the boardroom, companies in the manufacturing industry greatly benefit from NetSuite’s ability to manage every facet of operations. NetSuite is a turnkey solution for most, but it can also be uniquely customized to fit the needs of mature manufacturers.
Here’s a high-level rundown of NetSuite features and benefits geared toward the manufacturing industry:
- Save countless hours and dollars with a centralized system. Ditch the spreadsheets and stacks of software that create frustrating data silos.
- Control work order management and BOM routing
- Manage manufacturing capacity planning with the power Manufacturing Scheduler tool
- Get real-time visibility on production status to easily identify inefficiencies
- Automatically send orders to shipping, logistics, and AR (accounts receivable) departments
- Power up your warehouse with RF-SMART’s NetSuite-certified scanners, scanners, and scales
- Employ inventory costing methods, including LIFO, FIFO, average, standard, and actual costing
- Effectively manage the supply chain by communicating with suppliers, control purchase orders, track shipments, and guarantee timely delivery of raw materials
- Get actionable compliance reports always to be prepared for audits and inspections
- Access deep insights into your customers with NetSuite CRM to deliver personalized messaging across sales, marketing, and customer service
- Customize searches, fields, and buttons to stimulate your entire team — regardless of technical expertise
Utilizing NetSuite's extensive array of capabilities, businesses in manufacturing can increase operational efficiencies, make well-informed decisions, and adeptly respond to dynamic market changes.
For a detailed look into rapid growth, check out this article on how to scale your manufacturing business with NetSuite ERP.
3. NetSuite for the Automotive Industry
We’ve seen businesses in the automotive industry (e.g., aftermarket parts resellers) flourish with NetSuite ERP. From inventory and warehouse management to accounting software to extensive ecommerce functionality, NetSuite’s solutions perfectly solve common obstacles in automotive, including:
- A broken customer buying experience across multiple channels (e.g., parts not available to pick up in-store but are displayed online)
- Delayed visibility into automotive parts inventory
- Manual data entry errors
- Discrepancies with inventory counts
- Inaccurate bin labels and messy organization
- Inability to effectively manage multiple warehouses
- Lack of transparency with order management
- Not accounting for Return material authorization (RMA) liabilities in accounting
- Lack of information on costumers
Like the manufacturing and distribution industries, the automotive industry can harness NetSuite’s comprehensive coverage across all aspects of operations.
Businesses in the automotive industry can utilize NetSuite’s capabilities to:
- Deliver a unified cloud-based data platform to get excellent visibility and control over your automotive business
- Provide a smooth omnichannel buying experience for your customers with NetSuite SuiteCommerce
- Easily break into global marketplaces like Amazon and eBay
- Streamline order management, reduce errors, and improve overall inventory control
- Get real-time visibility into inventory levels, locations, and transactions
- Use RF-SMART to unlock mobile scanning for receiving, put-away, picking, packing, and shipping
- Facilitate cycle counting and physical inventory processes
- Easily identify, label, and organize bins or locations
- Ensure compliance by capturing and recording lot numbers, serial numbers, or expiration dates
- Automate pricing and discounts
- Dramatically cutting response time to customer inquiries and offer customer self-service
- Enhance customer insights, developing customer loyalty with tailored offerings
Regardless of the size or specialization of the automotive business, NetSuite is a valuable asset in driving growth and efficiency.
With its host of features, automotive businesses can easily manage inventory, track production costs, and forecast future demand.
4. NetSuite for the SaaS Industry
NetSuite stands above all ERPs when it comes to delivering a reliable business solution uniquely tailored to the needs of companies in the SaaS industry.
The SaaS industry is growing among software companies, and competition is fierce, so businesses must address four key challenges to forge ahead:
- Deliver accurate growth metrics and financials to investors and stakeholders
- Handle higher traffic and complex subscription billing requirements
- Quickly stand up pricing models envisioned by sales leaders
- Predict and prevent customer churn
NetSuite solves unique challenges in the SaaS industry through a complete set of integrated features, including:
- Unified data in one platform to cut costs and establish reliability of information
- Generating customized financial reports, including PNLs, balance sheets, and cash flow statements
- KPIs generated from precise real-time visibility into financial performance for investors
- Automated recurring revenue management, revenue recognition, and allocation with NetSuite Advanced Revenue Management (ARM)
- Automated plug-and-play subscription billing and renewals management capabilities with the Agreements power up
- Flexible pricing structures and cancellation metrics to study churn
- Connect NetSuite records to any system with an API enabling a seamless flow of data
In the SaaS industry, speed is everything. Learn how to achieve fast growth in this article on how to scale your SaaS business with NetSuite.
5. NetSuite for the Retail Industry
The name of the game in the retail industry is knowing your customers. Where do they buy? Will they get their order on time when buying online? Will they get exceptional customer service?
A business in the retail industry must take a step beyond multi-channel, and offer a complete omnichannel experience.
The critical factors that influence whether or not retailers will be able to succeed lie in:
- Overcoming obstacles with inventory management
- Dependable financial data for reconciliation and reporting
- Smooth customer shopping experience from online to in-store
- Consistent, reliable customer data across multiple departments
NetSuite’s portfolio of robust tools covers the entire customer experience and operational process of businesses in the retail industry. Let’s see how you can effectively level up your retail operations with NetSuite features.
How NetSuite Works for Retailers
- Advanced up-to-date inventory management with RF-SMART’s barcode scanner and visibility into stock across multiple locations
- Automated and optimized inventory cycle counting, picking, and replenishment with RF-SMART
- Automatically assign tasks to warehouse employees to fulfill orders
- Real-time business intelligence with integrated General Ledger, AP, AR, and fixed assets
- Automated financial consolidation, budgeting, and forecasting
- Multi-subsidiary locations and multi-currency support for global operations
- Generate financial reports for audits and compliance
- Sell products across your ecommerce store, online marketplaces, social platforms, and brick-and-mortar stores — all powered by real-time inventory levels
- Integrate SuiteCommerce to customize your online storefront, merchandise products, and seamlessly drop-ship, pick, pack, ship, and offer in-store pickup
- Mobile Point of Sales to sell using smartphones, tablets, or portable terminals
- Accept and process secure payments with cash, credit cards, online wallers, and gift cards
- Performance metrics, including sales trends, store sales, and customer returns
- Deliver personalized marketing campaigns and manage customer loyalty programs
The retail industry requires a sophisticated platform to reliably manage everything from operations to sales to customer service. Thankfully, NetSuite is well-equipped to master and automate processes and provide the intel to decision-makers in your retail business.
In addition, get a detailed breakdown of how NetSuite propels growth and increases profitability for retail businesses.
6. NetSuite for the Ecommerce Industry
Like retail, the ecommerce industry faces similar issues with keeping up to date with customer demand and adapting to the post-pandemic direct-to-consumer purchasing patterns.
Again, NetSuite’s cloud ERP system is designed to deliver automation, real-time data, and customizations across the entire gamut of ecommerce business operations to gainfully compete in the industry.
How NetSuite Works for Ecommerce
- Automate order processing, fulfillment, inventory management, customer communication, and financial reporting
- Get a single source of truth on inventory data so you never oversell or undersell
- Streamline the order processing through automated sales tax, shipping labels, notifications, and ecommerce website inventory updates
- Personalize the shopping experience with product suggestions, tailored user pricing, and special promotions
- Connect to third-party platforms in a matter of clicks (e.g., HubSpot via the HubSpot Connector)
- Use RF-SMART for warehouse management to execute tasks like receiving, picking, packing, counting, and transferring stock in real-time
- Save on shipping costs with advanced delivery tools from ShipHawk
- Use leading integration tools like Jitterbit to sell on Amazon and eBay
- Build actionable KPI reports with SuiteAnalytics
The ecommerce industry is demanding, so NetSuite steps in to implement automated business processes, dependable data, and accessible reports — empowering you to grow your business.
As a follow-up, learn six ways to increase your ecommerce business revenue with NetSuite.
Honorable Industry Mentions
NetSuite covers a lot of ground. Though these didn’t make it to our top industries list, each industry is a right for NetSuite’s cloud ERP system:
- Advertising and digital marketing agencies
- College and business campus stores
- Consulting firms
- Education establishments
- Energy companies
- Financial services
- Food & beverage
- Health and beauty companies
- IT service companies
- Life sciences organizations
- Media and publishing companies
- Nonprofit organizations
- Professional services
- Services organizations
How to Achieve a Smooth NetSuite Implementation for Your Industry
Once you decide that NetSuite is right for you, it’s time to understand implementation. NetSuite ERP is a large platform, so migrating and integrating data from other systems is a sensitive process that requires technical expertise combined with human care.
In this way, NetSuite implementation is both an art and a science.
The StratusGreen philosophy has always been to tailor both the selection and NetSuite implementation process to the needs of our customers.
We employ the art of listening, recording, and recommending the best path forward before moving forward with any action steps. Once we have a plan in place, our industry experts work hand in hand with your admins and stakeholders to ensure a silky smooth transition.
We provide training and ongoing support and will travel to your location to ensure you feel 100% about your NetSuite implementation. It’s what we absolutely love to do — helping customers succeed and grow with NetSuite.
Get in touch with the StratusGreen team — we’re happy to walk you through your options and set your business up for success.