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NetSuite is part of a group of products called business management software. This category of software is often divided into ERP and CRM systems. The NetSuite business management suite is in what is commonly referred to as the mid-tier. At the low level, there are programs like QuickBooks. At the top level, there are programs like SAP and Oracle. Mid-tier software is designed to handle businesses that are in the mid-range. Typically, these are companies with $ 10 million to $ 500 million.

NetSuite is essentially a fully integrated ERP and CRM software system. We previously discussed “What is ERP?” and “What is CRM?” in previous articles; But essentially, this category of software is the primary systems that companies use to manage transactions within their business. Since NetSuite is a fully integrated system, it essentially takes care of the entire life cycle of transactions. This lifecycle consists of the marketing side: lead generation, prospecting, and communication around the products. It also consists of the sales process where there are follow-up communications, budgets, etc. These are essentially the functions of a CRM system.

But NetSuite goes beyond CRM and integrates (note, it’s not even correct to say integrate; they’re just a system) with the ERP side. This is the compliance side of the business. From here, an order is created and tracked, and a business has a promise to fulfill that order. NetSuite’s business management software tracks that order whether it is for physical goods or, if it is a service, the time it takes for people to fulfill that service. Takes the request to be paid and produces follow-up communications. All this, in turn, feeds back the opportunities that new sales will represent. Ultimately, it tracks and accounts.

NetSuite is a software package that does this, just with one key difference, everything is done through a web browser. And it’s offered in a way that you don’t need to buy any software. That means you won’t have to bear the traditional costs on the IT side of taking care of hardware, operating systems, backups, and databases. All of these things are fixed because NetSuite is offered as a subscription service.

Because NetSuite provides and handles all of these functions, it turns out that it is moving in the direction of today’s software market. Today, it makes no sense to buy software in connection with the great deals in the “Cloud”. With NetSuite, a business instantly goes global, because it can support multiple languages ​​and currencies, and a business can run multiple businesses around the world using one integrated system. Essentially, it is for companies that are committed to reducing their costs and expanding their reach in the market, and looking to do so economically while ensuring rapid growth.

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