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NetSuite Business Software Reduces Cost, Increases Margins


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NetSuite Business Software Reduces Cost, Increases Margins

May 09, 2011
By Susan J. Campbell, TMCnet Contributing Editor
 
NetSuite (News - Alert), as a business software provider, is being lauded by customers everywhere for delivering solutions that produce measureable benefits for the company and the end user. Nucleus Research recently examined the impact NetSuite has on users and found that wholesale and distribution customers were able to improve reporting and increase efficiency. Customers have also reported that the business software helped them to improve margins, increase customer service and satisfaction, while reducing costs. 


Through a cloud-based delivery, NetSuite provides business software and management applications that will support accounting, financials, enterprise planning, manufacturing, eCommerce, customer relationship management and reports, all based on a single customer record. As a result of this business software approach, billing, sales, support, shipping, accounting and business planning staff all have access to the same important data. 

The company also offers its business software as a wholesales/distribution platform to support the role-based customizable dashboards and self-service vendor, partner and customer centers. The components of this platform include inventory management, automated order processing, product packaging and assembly, integrated shipping and logistics, and integrated eCommerce capabilities. 

In its research into the value of this business software, Nucleus determined that there are a number of areas where NetSuite customers in wholesale and distribution have the opportunity to reduce costs and increase efficiencies, such as IT and reporting, sales and customer service, and inventory and margin management. 

As for the IT savings delivered by this business software, Nucleus estimates that an on-premise application providing similar functionality would likely cost a minimum of $50,000 in initial software fees, $20,000 in hardware, and $50,000 in the license maintenance and support costs for a low-end on-premise ERP project and business software. The amount of savings for individual companies can vary, although costs savings can be assured. 

Sales can be improved with this business software as NetSuite provides visibility into real-time inventory availability, the sales pipeline, and customer service issues. This business software can effectively reduce the time sales people spend on manual tasks and accelerate sales cycles. Wholesale distribution customers can rely on NetSuite to help increase sales without adding staff.

Said one satisfied customer, “NetSuite has allowed us to open new sales channels – a couple of areas in the business where we couldn’t dedicate staff because they were too busy managing customers. Now what was selling about $40,000 a year and sold $13,000 last month.”

In addition to growth, flexibility and scalability, the NetSuite business software offering offers a single integrated suite that enables distributors to drive greater efficiency and visibility, while reducing costs. Greater visibility and automation enables wholesale distributors to grow their business, while also improving margins.
Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.

Edited by Jamie Epstein
 
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