As your business grows, so do your technology needs. That’s where an enterprise resource planning (ERP) system comes into play. For many businesses, both large and small, an ERP system like NetSuite can save time, money, and effort. However, you’ll need to decide whether the cost of NetSuite is worth it for your business.
In this article, we’ll examine NetSuite to help you decide if it’s worth it. Keep reading to find out what NetSuite is, how much it costs, and whether the NetSuite price is worth the investment for your business.
What is NetSuite?
NetSuite is a cloud-based business management software suite that provides a single system of record for managing your business finances, sales, and customer relations. It automates your back-office tasks, eliminating the need for multiple software applications.
NetSuite offers a wide range of features, including:
- Financial management: Manage your company’s finances with real-time visibility into your cash flow, bank balances, and spending.
- Sales management: Track your sales pipeline, opportunities, and customer interactions.
- Customer relationship management (CRM): Manage customer data, including contact information, account history, and purchase activity.
NetSuite is designed for businesses of all sizes, from small businesses to large enterprises. It is available in a variety of languages and currencies and can be customized to meet the specific needs of your business.
Because NetSuite is cloud-based, you can access it from any device with an internet connection, allowing you to work from anywhere, at any time. And because it is always up-to-date, you can be confident that you are always using the latest software features.
How much is NetSuite?
The cost of NetSuite can vary depending on several factors, including how many NetSuite user licenses you need, whether you need more NetSuite modules in addition to the basic ERP and CRM modules, and the cost of implementation.
The cost of user licenses typically starts at $99 per month per user. So, the more user licenses your company needs, the higher the price can be. Furthermore, your NetSuite modules will affect the price. If you need additional modules such as eCommerce, inventory management, or project management, the cost can be higher. However, the modules are highly customizable, so you only need to pay for the features you actually need.
The cost of NetSuite implementation can also vary drastically depending on the size and complexity of your business. Implementing NetSuite can range from $10,000 to $100,000, including setting up your company’s charts of accounts, data migration, and training your employees on how to use the software. Although, the general rule for standard implementations that don’t require expansive customizations, data migration, or integrations is that the cost should be roughly two to three times your annual NetSuite license fee.
Is NetSuite worth the cost?
To determine if implementing NetSuite at your business is worth the cost, you need to consider how this business management software suite can benefit your organization.
One of the biggest benefits of using NetSuite is that it can automate many tasks and processes, which can save you time and money. For example, the invoicing feature can automatically generate invoices based on sales orders and delivery dates. The inventory management feature can keep track of stock levels and automatically generate purchase orders when stocks are low. And the CRM feature can help you keep track of customer information and interactions over time.
NetSuite also offers a variety of add-on modules that you can use to customize the software to meet your specific needs. For example, there’s a module for manufacturing businesses that helps manage production processes and job costing. There’s also a module for eCommerce businesses that helps with order processing, shipping tracking, and tax calculations.
Overall, NetSuite is an extremely comprehensive business software suite that can help you manage almost every aspect of your business. It’s worth noting that NetSuite does have a fairly high price tag compared to other options on the market But if you’re looking for a one-stop shop for all your business needs then it’s definitely worth the cost.
Investing in NetSuite
Overall, NetSuite is a valuable investment for businesses of all sizes. It offers a comprehensive suite of tools to manage finances, operations, and customer relations, making it an essential platform for any company looking to streamline its workflow. The cost of the software can vary, but businesses that make the switch to NetSuite often see a significant return on investment.
