NetSuite’s ERP is one of the most powerful tools in any business, it is a unified and a multipurpose software. Enterprise Resource Planning refers to a management system used by companies to systematize their day-to-day operations related to Human resource, Technology, Operations, etc. It increases sales performances, operation efficiency, eliminates manual errors, generates invoices by linking the proper stakeholders in the process.
A huge part of all this is done by NetSuite Order to Cash system. This is an extremely robust function which helps in integration and efficiency management. It combines several teams like sales, finance, fulfilment, and operations to ensure a transparent and clear link. It creates a smooth process for timely execution while maintaining accuracy. The interesting part is that each department has a personalized dashboard relevant to them.
• It begins with the customer sending in a sales order.
• The sales team receives it and updates on NetSuite. This goes to the finance department in real time, has all important financial metrics, including pending orders, billing information, existing orders, etc.
• The finance department can now update by fulfilling the revenue recognition schedule and final approval. After the final approval, it is immediately directed to the warehousing department.
- • On the warehousing dashboard, NetSuite has existing tie-ups with various shipping services, and they help in automating the shipping process. Once this is done, the invoice is also sent instantly to the customer, to avoid any kind of lags.
• It increases efficiency and reduces the amount of time that is required to complete payments.
• Improved dashboard components for a more accurate view of HR landscapes
NetSuite can accept payments in all major forms. There is a proper audit trail, which ensures transparency and visibility.