NetSuite Lead to Cash story is unique. How NetSuite is gaining so much popularity and how it is generating so much revenue is interesting.
NetSuite Cloud Solution is an online service that permits the organization to manage all key business processes in a single system. The service involves no hardware, no large upfront fee, no maintenance fees related to hardware or software package, and no complicated setups.
Multiple organizations use NetSuite for Enterprise Resource Planning (ERP) and to manage their data, track their finances, host e-commerce stores and maintain Customer Relationship Management (CRM) systems. This flexible platform will be applied to a variety of business applications.
ERP – NetSuite ERP runs all of your key financial processes within the cloud: accounting, inventory, supplychain and order management.
Customer Relationship Management (CRM) – NetSuite is the only on-demand cloud CRM system that offers you a real 360-degree view of your customers.
Professional Services Automation (PSA) – NetSuite PSA helps you accurately set up, track and execute projects.
One database to work with, one system – On time processing, unified world business management platform to manage operations involving multiple countries, currencies, languages, and subsidiaries.
E-commerce -Unify each step of your web store from the point of sale and order management to promoting, merchandising, inventory, financials, and support.
Retail – NetSuite offers a robust, cloud-based retail software system resolution designed to satisfy your omni channel shoppers.
- Lead Capture – When potential customers visit your company’s website, they can inquire for more information through a contact form. This is where the lead is initiatedand customer information is acquired.
- Lead Distribution – The leads from the website come in through NetSuite and are automatically sent to the sales team as setup in the workflow. On their personalized dashboards, they are able to view many different categories, including the new leads documentation. These are auto-populated with the customer information and their inquiries, which allow the sales team to reach out accordingly.
- Lead Nurturing – Once the sales team reviews the prospects’ information, they contact the customers to build relationships and discover their needs.
- Order Management – When the customer is ready to order, a sales order can be created directly from the lead. Again, the information streamlines from one form to the next, automatically populating the different sections. On this form, you can search for items to order, select the correct quantity, price and tax, and choose an expected ship date. It even has a feature that allows you to find related items to upsell the customer.
- Fulfilment Execution – The Warehouse page displays the orders that need to be completed. By selecting the order, validating the information, and choosing the shipping address, the order can be sent out. Once this action is completed, an email notification is sent to the customer to confirm the order shipment.
- Invoicing & Billing – The Accounts Receivable page allows you to invoice the customer. On the invoice form, you can see a summary of the order, customer information, and other order information. Once the invoice information is validated, the invoice is sent through email to the customer. Customer Payment is Applied. Once you receive customer payment, you can return to the invoice form and accept payment completing the process.
As it can be seen through the steps, NetSuite is able to streamline the process from Lead to Cash while giving your company 360-degree visibility and knowledge of your operations.
It is a good, and efficient business answer that allows for confirmation at each step to ensure every step is being completed. Overall, NetSuite has proven to increase billing efficiency, customer satisfaction, and sales productivity—all of which are important to company growth.