NetSuite is designed to grow with businesses as they develop and to consolidate important goal-oriented procedures. This focus enables businesses to respond to new opportunities in a more efficient and timely manner, and the cloud-based platform allows for full real-time visibility of the monetary fulfillment of the company in regard to both consolidated and individualized financial exchanges. Among the many features of this integration, the following are the key functional components of this all-inclusive system.

 

Financial Administration

 

NetSuite’s financial administration solution accelerates day-to-day monetary transactions and assures concession. The main features providing this ERP solution with the means to integrate inventory, order administration, ecommerce operations, and centralize essential transactions include:

 

  • General ledger: NetSuite’s general ledger provides finance experts with the flexibility necessary to meet their business’s ever-changing circumstances. Main highlights include enhanced reporting operations, audit trails, and additional tools for multinational financial management.

 

  • Cash and Payment handling: NetSuite’s cash management system enables businesses to oversee, interpret, and handle cash across various global locations and in real-time. NetSuite’s payment management system allows businesses to support a range of different customer needs and payment options, and provides access to real-time payment data and reports.

 

Other dynamic components of NetSuite’s financial management system include:

 

  • Tax and fixed asset handling
  • Accounts payable and receivable
  • Financial Planning and Reporting
  • Global Financial Accounting and Condensation
  • GRC (Governance Risk and Compliance)

 

 

Order Administration

 

NetSuite’s order management solution helps businesses consolidate their order handling by reducing errors, providing an even flow between sales quotes and order completion, and assuring payments and invoices are provided in a timely manner. The order management system includes the following features:

 

  • Streamlined pricing and promotion handling in various currencies
  • Returns and sales order handling

 

 

Supply Chain Administration

 

NetSuite ERP’s supply chain administration system allows businesses to use a single unified program to manage all areas of the distribution process. In addition to providing centralization, NetSuite’s supply chain administration system offers flexible management options. No matter where a product is created or stored, this system makes it easy for businesses to receive crucial

information and manage their supply chains across various time zones. Crucial features of this system include:

 

  • Supply and Establishment plan to evaluate sales and demand forecasts.
  • Easier collaboration with communication system for suppliers, business partners, and distributors in various locations.
  • Real-time updates allow businesses to recognize, track, and take care of issues before they escalate.

 

Production Administration

 

NetSuite’s production solution gives businesses access to up-to-date information throughout each part of the production procedure, including order route planning, sales orders, order completion, and product costs. With these solutions, companies have access to the information necessary to make the most effective decisions possible. Crucial elements of NetSuite’s production administration solution are as follows:

 

  • Product data and information handling and communication regarding status, design procedures and alternation levels.
  • Quality assurance tests and evaluation permits businesses to decide what tests to execute and receive accurate data and results accordingly.
  • Manufacturing competition with the use of a conventional barcode scanner interface and a state-of-the-art tablet application.
  • Scheduling and agenda planning, enabling businesses to use a single platform to schedule workers, monitor inventory and necessary purchases while ensuring deliveries are made on time.

 

Warehouse and Completion

 

The NetSuite WMS solution allows companies to handle their warehouse distribution with wave management, cycle number and count set up, and real-time updates on their inventories and shipping fulfillments. Specific elements of NetSuite’s warehouse and completion management system include:

 

  • Inventory handling
  • Inbound and outbound logistics
  • Warehouse Management System (WMS) mobile solutions

 

 

The comprehensive NetSuite ERP solution gracefully simplifies and consolidates crucial business divisions, making it a great integration for your Magento website. Get NetSuite ERP integration solution implemented on your Magento Site today.