NetSuite Accounting

When NetSuite was first released, it was a tool that accountants used primarily for bookkeeping and accounting services. With time, the software developed other key functionalities. Primary among these functionalities are enterprise resource planning (ERP), e-commerce, and customer relationship management (CRM) software.

Currently, NetSuite’s software can be divided into several categories of software products. Each product comes with the option to implement additional services and support. 

The NetSuite products are:

1. NetSuite OneWorld

This software includes all the tools in NetSuite ERP and extended capabilities that allow multinational companies to manage currencies, international tax requirements, and multiple subsidiaries.

2. NetSuite ERP

Accountants use this software to handle their client’s vital financial business processes. This is a cloud-based service that facilitates handling order management, inventory, accounting, and supply chain.

3. NetSuite CRM

This software gives organizations a 360 degree view of their customers throughout their entire customer lifecycle.

4. NetSuite PSA

This is a professional service automation program that allows a team to execute, track, and plan projects.

5. NetSuite Suite Commerce

This is an e-commerce platform that B2B and B2C companies can use to give their customers a constant yet personalized e-commerce experience.

6. NetSuite SuitePeople

This is an HR management solution. It allows a person’s data to be weaved throughout different NetSuite programs. It gives an organization more control over vital HR processes.

NetSuite software let companies manage important business processes using just one system. NetSuite has no hardware, no hidden licensing fees, no complex setups, and no maintenance fees.

Accountants use NetSuite to help clients with enterprise resource planning (ERP). It is used to track financials, manage inventory, and host e-commerce stores. NetSuite can integrate with customer relationship management (CRM) systems.

Businesses rely on NetSuite for seamless cloud delivery and to strengthen their competitive advantage.

NetSuite is a versatile tool and is used differently in every business. It is best optimized by an experienced NetSuite consultant who can train your team to use the software they need on a daily basis. We offer NetSuite integration, plus accounting. This approach makes the most of the software’s abilities. 

NetSuite has a flexible pricing model. Its price is tailored to the needs of the customer. ERP configurations, total user account, add on modules, and contract length influence the price.

NetSuite offers its software in pre-bundled vertical additions. These can be beneficial for organizations that want to quickly identify the package module that will address their organization’s needs.

How Much is NetSuite for Small Businesses?

NetSuite’s base license cost is $999 per month with an access cost of $99 per user per month. NetSuite licenses its product on a subscription model. The subscription can be renewed every year or over longer periods of time.

NetSuite offers a pricing and service calculator that allows you to answer a few brief questions to determine what a small business’s budget for NetSuite software and related services should be.

NetSuite is the number one cloud ERP software. It allows companies, regardless of their size, to manage critical business processes with just one system.

In 1998, Evan Goldberg used funding provided by Oracle’s executive chairperson, Larry Ellison, to found NetSuite. At that time, the company was named NetLedger. Many feel that this was the first cloud computing software company.

In 2007, NetSuite went public. It was backed by an experienced leadership team. This led to explosive growth.

In 2007, the idea of software being delivered through the Internet was groundbreaking. However, the company pioneered SaaS technology. The company’s run rate skyrocketed from a million to over a billion in short order.

Who owns NetSuite now? In 2016, Oracle purchased NetSuite. The companies merged their resources to better serve small to midsize businesses and global enterprises effectively. Today, NetSuite’s software is used by over 21,000 companies in over 200 territories and countries.

NetSuite was founded in 1998 by Evan Goldberg. Larry Ellison, the executive chairperson of Oracle, provided some funding for NetSuite. At first, the company was called NetLedger.

In 2007, NetSuite went public. In 2016, Oracle officially acquired NetSuite.

NetSuite is a software that is trusted by over 40,000 and subsidiaries around the planet. In the United States, NetSuite has around 5,646 customers.

NetSuite is trusted by over 40,000 companies and subsidiaries around the globe. Customers that using NetSuite include:

• Wells Fargo and Company is a US-based financial services organization that employs over 258,700 individuals and has an annual revenue in excess of $85 billion.

• Audi of America is a manufacturing organization with over 79,000 employees and an annual revenue in excess of $57 billion.

• T-Mobile is a US-based communications organization that employs over 53,000 individuals and has an annual revenue in excess of $45 billion.

• The State of Wisconsin is a US-based government organization with more than 33,000 employees and an annual revenue of over $40 billion.

Other organizations include small businesses with revenues that range from $1 million to $5 million. They include the retail company A Brief Affair, the communications company 500 Limited, the professional services company 3SG Corporation, and the customer packaged goods company 2Pure UK Ltd.