NetSuite for Startups: Why It’s a Game Changer

The startup world is a rollercoaster of non-stop ups and downs. Founders need agility and efficiency, or they won’t make it. To get there, startups need tools that can help them grow while also growing with them, streamlining operations, and providing real-time insight into their business. This is where NetSuite swoops in to save the day. As a cloud-based enterprise resource planning (ERP) system, it’s proving to be a game changer for startups across various industries. 

Comprehensive Business Management

Startups need a holistic fix to their needs. A one-stop shop, if you will. Stop juggling a million single-use systems that only add complexity and costs. NetSuite delivers an all-in-one business management suite. Financials, CRM, ecommerce, and more—all under one roof and one price.

Benefits:

• Unified System: No more hopping from tool to tool to tool. With NetSuite, startups can manage their entire business with one single solution. Data easily flows across departments, and you reduce manual data entry errors and improve operations. Easy peasy.
• Scalability: Scaling as a startup is tough. Everybody knows that. Budgets tighten, needs evolve, and you outgrow current tools because they can’t evolve with you, you know the story. NetSuite created its ecosphere to scale effortlessly with its users, accommodating increased transactions and expanding to support new and evolving business models. 
• Real-Time Insights: Data-driven decision making is the best. Especially when you’re a startup. When every single thing is tracked, your life becomes a whole lot easier. While using NetSuite, consider its robust reporting and analytics tools. This capability is critical for making informed decisions quickly, which give you a competitive advantage in the fast-moving world you’re living in as a startup founder. 

NetSuite for Small Business: Financial Management Made Easy

We know, it sounds ridiculous. “A startup with easy financial management? Pfffff, yeah right.” Well, even though this is one of the most challenging aspects of running a startup, NetSuite simplifies this with its suite of financial management tools such as accounting, revenue attribution, and future financial planning. 

Benefits:

• Automated Accounting: NetSuite automates core accounting processes, reducing the time spent on mundane tasks and minimizing the risk of errors.
• Compliance and Reporting: Built-in compliance management ensures that startups can meet regulatory requirements effortlessly, while advanced reporting tools provide insights that drive strategic planning.

Enhanced Customer Relationship Management (CRM)

You can store your contacts on good ol’ Google Sheets, or you can get a ridiculously priced CRM such as ActiveCampaign. Or maybe you even want a limited CRM such as Mailchimp, which is good for starters, but scalability is a major issue. Startups thrive on building relationships with their customers. NetSuite’s CRM functionality helps management interactions across the entire customer lifecycle, from initial contact to supporting the customer in the long-term. 

Benefits/Features:

• 360-Degree Customer View: Get a full view of your customers including purchase history, buying preferences, and all interactions with your business. 
• Sales Automation: You don’t need to hire a ton of SDRs. You can streamline sales processes with automation tools that help nurture leads, manage opportunities, and give the boss what they want; sales forecasting. 

Efficient Inventory and Order Management

While it isn’t as common as it once was, startups involved in the product-based business need efficient inventory and order management. NetSuite’s capabilities in this area allow you to manage the supply chain effectively, reducing costs and improving customer engagement. 

Benefits:

• Real-Time Inventory Tracking: Keep track of all of your inventory so you don’t face stock outs or overstock. 
• Optimized Order Fulfillment: Automate order processing and fulfillment, ensuring timely delivery and improving customer satisfaction.

Industry-Specific Solutions

Regardless of the industry you’re starting in, NetSuite can help. Startups in any sector can leverage NetSuite’s full potential. For example, at Devma, we provide specialized NetSuite solutions for wholesale distribution, retail & ecommerce, medical devices, and more. These industry-specific configurations help startups address unique challenges and streamline their operations effectively.

Benefits/Examples:

• Retail & Ecommerce: E-Commerce and retail-based businesses get an amazing tool with NetSuite. There’s a unified platform for managing online and in-store sales, inventory, and customer engagement/behaviors. 
• Medical Devices: MedTech is huge right now, so NetSuite can help ensure compliance with regulations, streamline manufacturing, and effectively run supply chain operations. 

Takeaways

After reading this, you should be pumped. Startups can get a massive upgrade when they sign on with NetSuite. Its comprehensive, scalable, and integrated suite of business management tools push you to becoming the next unicorn. Whether you’re in the retail space looking to better ecommerce metrics or a medtech device company needing compliance help and manufacturing guidance, NetSuite can help. 

At Devma, we understand the challenges faced by startups and are committed to helping you leverage NetSuite to its fullest potential. Contact us today to learn how we can support your journey to success with tailored NetSuite solutions.