NetSuite is a leading cloud business software suite, including ERP/financials, CRM, and eCommerce software. NetSuite has transformed many business processes from startups to enterprises and became a hot career choice for many professionals. With all the benefits it offers, it's no wonder that the demand for NetSuite professionals will continue to grow even more in the future! Thus if anyone is interested in building a career in this field, the future looks very promising in terms of the pay scale and career growth.
To that end, we present you with this NetSuite tutorial to help you get familiarised with all the basic and advanced concepts of NetSuite.
This NetSuite Tutorial will be a walkthrough for:
Let’s get started.
NetSuite is a unified business management suite encompassing ERP/financials, eCommerce, CRM, Inventory, HR, professional services automation, and more via a single, fully integrated system. It helps enterprises to achieve business growth and progress by optimizing business processes efficiently. It automates business processes with high-end benefits in a cloud platform.
Customers use NetSuite modules across various industries to run effectively and efficiently in the modern business environment. More than 24,000 companies worldwide are running their businesses on NetSuite. With cloud-based engineering, it can be accessed from any device and anywhere.
|⇒ Learn about What is Netsuite|
NetSuite was founded in 1998 by Evan Goldberg under the original name NetLedger, which offered web-hosted accounting management software. The company was seeded with start-up money from Oracle CEO Larry Ellison and a host of key staff. The company’s CTO and chairman transitioned from Oracle to NetSuite. NetSuite is seen as the first cloud computing software, even pre-dating Salesforce.com by about one month.
Nelson was appointed as CEO to the NetSuite in 2002 and led the company from about $1 million in revenue to a billion-dollar run-rate before its acquisition by Oracle Corp.
From startups to enterprises, NetSuite is the number one cloud ERP business software solution. The below section provides the reasons why NetSuite is the best solution:
Real-time analytics is the NetSuite user interface. Users can view the vital business data right from within the system.
NetSuite’s flexibility lets you adopt new business models quickly. With every upgrade, your configurations and customizations migrate seamlessly.
Your core business system becomes a customer-facing commerce system with a customer-specific, customizable, and pixel perfect experience.
NetSuite offers a single cloud platform for multiple services - Accounting/ERP, CRM, eCommerce, HRMS, etc. This eliminates the cost of having multiple services for each business unit.
NetSuite’s Cloud-based business management solution allows you to access core business metrics from anywhere.
Following are the key NetSuite Products.
NetSuite ERP (Enterprise Resource Planning) solution operates all your critical financial business processes and back-office operations in the cloud. It enables enterprises to manage IT costs, streamline order management, procurement processes, improve employee productivity, optimize accounting efficiency, and more.
The important features of the NetSuite ERP solution are listed below:
Financial management with built-in business intelligence drives quicker and smarter decision-making.
You can accelerate order-to-cash processes by combining Finance, Sales, and fulfilment to pricing management and returns management.
With intuitive budgeting, planning and forecasting solutions, users can engage business users, shorten cycle times, and improve the business planning process.
You can get your products to market quickly and efficiently by inculcating real-time visibility into production management processes.
You can execute and define support chain/distribution management plans from a single, collaborative platform.
Handle end-to-end inventory and inbound/outbound logistics by minimizing total costs.
Enhance the procure-to-pay processes accuracy and optimize for cost certainty.
NetSuite CRM (Customer Relationship Management) is the only solution that delivers a real-time and 360-degree view of your customers. Provides a seamless flow of information across the entire customer lifecycle—from lead through opportunity, sales order, renewal, fulfillment, upsell, cross-sell and support to improve productivity.
Provides sales with real-time access to customer, prospect, and order records.
Real-time dashboards provide role-based, customizable reports to sales, marketing, and service teams.
Builds reliability and predictability into the sales process.
Convert quotes into approved sales orders easily and process with back-end financials automatically.
Controls every aspect of the partnering process.
Automates multi-channel campaigns according to sales efforts.
Connect with NetSuite’s eCommerce solution to create a single record system for the customer, transaction data and activity.
NetSuite OneWorld presents a unified and integrated business management platform for enterprises that seamlessly handles multi-national and multi-subsidiary operations globally.
It drives operational and financial efficiencies of global businesses by providing real-time visibility and flexibility for customizations to corporate-specific and subsidiary needs. Financials are the backbone of NetSuite OneWorld.
NetSuite OneWorld gives a seamless experience for financials and operations by bringing down the subsidiary restrictions.
Handles certain functionalities within a business entity where a company has other subsidiaries that are not using NetSuite.
This feature supports more than 190 currencies and exchange rates as well as various payment options. It gives real-time currency conversion and financial consolidation for global operations.
Supports global standard as well as country-specific requirements. All within the framework ensures security, scalability, globalization and built-in capability of
being kept up to date with software’s latest versions.
NetSuite SuiteTax provides a flexible and scalable tax determination, calculation, and reporting engine to support any tax rule anywhere in the world.
NetSuite SuitePeople offers power functionality of managing HR processes throughout the Suite giving complete business control. SuitePeople HR manages the human resources and workforce management processes with exceptional employee experiences to complete most everyday tasks.
SuitePeople is a built-in NetSuite enabling:NetSuite
|⇒ Learn about Netsuite Interview Questions|
NetSuite Professional Services Automation maximizes your business services performance. NetSuite delivers complete web-based PSA including project accounting, resource management, expense management, everything integrated with SaaS accounting, eCommerce, and CRM capabilities. NetSuite PSA allows you to manage and automate key aspects of business across the complete bid-to-bill lifecycle.
Project management capabilities allow project managers and team members to cooperate on projects and ongoing project status at all times, allowing them to recognise and resolve potential effects with each management.
This feature allows project managers to optimize staffing and utilization, ensuring resources are managed on the right projects.
This is one of the important features that allow users to capture detailed timesheets easily.
Connects entire project activities with company financials.
NetSuite provides complete flexible billing options.
This powerful feature optimizes productivity, maximizes accuracy, timeliness of expense reporting, enables better tracking and compliance, and enhances the overall user experience.
Delivers real-time, on-demand data, allowing us to monitor, report and analyse overall project performance.
NetSuite OpenAir PSA solution supports complete professional services delivery lifecycle with the cloud-based suite. It also empowers organizations with mobile services at any time, anywhere access in the cloud.
This feature provides high web-based project management capabilities that improve project delivery and profitability by making it easy to update, manage, and report on project status from anywhere at any time.
This feature provides advanced resource optimization functionality to manage valuable resources across the globe more effectively.
This feature allows efficient monitoring and management of project revenues, profitability, expenses while ensuring the project is on time and on budget.
You can easily create detailed timesheets with NetSuite OpenAir.
NetSuite OpenAir implements powerful expense management that optimizes employees productivity by allowing them to present expenses from anywhere.
This feature provides instant access to vital information for users.
NetSuite OpenAir is a platform to help teams, business leaders, project managers, and even customers stay in closer contact, gain more visibility, and facilitate better quality work.
This allows you to integrate with existing front-office and back-office business systems seamlessly.
|⇒ Learn about Netsuite Sandbox|
NetSuite offers a complete commerce solution for delivering a unified customer experience called SuiteCommerce.
The key highlights of this solution are:
NetSuite is a leader in delivering embedded analytics that allows making a critical business decision by uncovering hidden information that improves the company’s performance across teams, subsidiaries, and multiple departments.
SuiteAnalytics offers incredible flexibility to create Saved searches and reports.
The key highlights of this solution are:
With SuiteAnalytics, you can easily explore data and create filters with real-time visualizations. You can analyse data further with Workbook pivot and chart capabilities, with intuitive drag and drop interactions. Workbook supports pivoting, charting, updating data models, dashboard portlets, templates, and datasets.
NetSuite Analytics Saved Search functionality provides a valuable tool to filter and match data to answer all sorts of business queries. A saved search is a set of real-time results depending on criteria and filters.
NetSuite supports SuiteAnalytics to offer a set of standard and customizable reports for all transaction types. You can modify reports and create custom reports based on business needs with the tools provided within the platform.
SuiteAnalytics KPIs improve business efficiency and agility. There are various ways to visualize KPIs with the ability to drill down, allowing users to interact with data.
These dashboards can be customized to drive maximum productivity and actionable insight meeting the dynamic changing needs of your business.
This service allows you to analyze, archive, and report on NetSuite data using any custom-built application or a third-party tool.
NetSuite Business Intelligence provides the power of built-in real-time dashboards, analysis, and reporting across all the integrated processes within the software suite.
NetSuite SuiteSuccess is a transformative customer engagement methodology that drives customer success through leading practices in cloud ERP implementation.
NetSuite’s SuiteCloud provides tools for cloud customization to develop new applications or extend NetSuite for business needs. SuiteCloud Developer Tools provide comprehensive functionality from workflows and scripting to analytics and web services to enable you to customize, develop, test and build applications on NetSuite.
Demand for NetSuite experts is multiplying. More and more companies are looking for professionals having validated NetSuite expertise.
NetSuite offers two types of Certification based on role: the administrator and the other is the user.
The candidate must possess at least six months of experience in administering NetSuite applications to become SuiteFoundation Certified.
A candidate must possess ideally one year of experience to configure and manage NetSuite implementation to be a Certified NetSuite Administrator.
The NetSuite ERP Consultant Certification consists of two exams: The suiteFoundation exam and the ERP consultant exam. The candidate should have two years of equivalent experience in NetSuite implementations to pass this exam.
The SuiteCloud Developer II Certification consists of two exams: The suiteFoundation exam and the SuiteCloud Developer II exam. Ideally, the candidate should have 1–2 years of experience working with a range of SuiteCloud technologies and 2–3 years of relevant software development experience.
2. User Certifications
Passing this exam ensures that the candidate has the required knowledge and skills to use searches, dashboards, and reports features of NetSuite. The credential awarded for passing this exam is NetSuite Certified SuiteAnalytics User.
Passing this exam ensures that the candidate has the necessary knowledge to navigate around the NetSuite system and understand core NetSuite finance and accounting functionality. The credential awarded for passing this exam is NetSuite Certified Financial User.
With this, we have come to the end of this NetSuiteTutorial. We tried to cover all the core fundamentals of NetSuite that you need to know to start practicing NetSuite now.
Still, if you have any questions related to the NetSuite, feel free to leave a comment below, and we'll get back to you at the earliest and solve the query in the best possible way.