Business Growth and Strategy

Why NetSuite financials for Small Businesses makes sense

Discover why NetSuite financials for Small Businesses simply makes sense. The benefits, cost, and how to get started. Learn more here.

Giuseppe Garcia-Salamone

Dec 22, 2022

If you’re a small business owner, you understand the importance of financial management. But what if you don’t have the time or resources to invest in complex accounting software? NetSuite offers a solution with its cloud-based financial management tools. In this blog post, we’ll explore how NetSuite can help streamline your financial processes and save you time and money.

Introduce NetSuite and its features

NetSuite is an integrated cloud-based financial management system. It is designed to help organizations of any size manage their financial operations. It provides financial insights and reporting with financial statements, budgets, dashboards, and analytics. The system also enables businesses to save costs and improve efficiency by streamlining financial processes such as accounts payable/receivable, order-to-cash, and procure-to-pay. With features such as multi-level approval workflows, invoicing tools, real-time financial statement visibility, and tight data integration with other back office systems such as CRM and warehouse management systems – NetSuite is an invaluable tool for financial professionals.

Why NetSuite for Small Business

Small business owners seeking a comprehensive solution for their financial needs should consider using NetSuite. This cloud-based software offers a variety of features that are designed to save businesses time and reduce costs. It comes with built-in modules for accounting, CRM, eCommerce, Human Resources, Inventory Management and more. It also allows for detailed reporting, analysis and forecasting of real-time data. With its flexible customization capabilities and easy integration with existing systems, small business owners can build the perfect financial solution tailored to their specific needs. It’s fast, efficient and secure – enabling businesses to get the most out of their investment in order to succeed.

How to use NetSuite for your small business

NetSuite is a beneficial tool for small businesses that helps to streamline their operations and save money. It offers a suite of cloud-based business management applications that can help to organize, track and lead your business in the right direction. Its cost savings benefit allows you to cost-effectively track inventory, analyze sales data and provide streamlined customer service. NetSuite also enables automated financial processes like payments, invoicing and time tracking so that you can spend less time on administrative tasks. This highly scalable solution is the perfect investment for your small business.

The benefits of using NetSuite for your finances

NetSuite is an invaluable financial tool for small, medium, and large businesses. It provides users with a comprehensive and streamlined approach to managing finances.

For example, small businesses are able to utilize this cloud-based software to manage their multicurrency transactions without the need for manual data entry.
In addition, medium-sized businesses can use NetSuite’s powerful analytics solutions such as real-time reports and visualization tools to gain deeper insights into their financial performance (profit and loss statements, expense tracking, cash flow statements, income statements for any given period of time, net income etc).
Finally, large companies can access up-to-date financial statistics from a single management system. With so many benefits, it is no wonder that NetSuite is gaining such popularity among businesses of all sizes.

How to get started with NetSuite

Getting started with NetSuite can seem daunting, but Tentho experts have the know-how to help you through it. Tentho’s team of certified professionals are able to provide invaluable advice when setting up NetSuite for your business. With their assistance, you can get your online operation running smoothly so that you can quickly and efficiently manage essential business operations like financials, sales and service orders, inventory, and more. Don’t wait any longer – connect with Tentho’s experienced experts today and get a jump start on the future of your business!

NetSuite Competition

NetSuite faces competition from a number of other financial solutions. These competitors offer features similar to what NetSuite does, but are often inferior in terms of features, scalability, security and overall value for money. For instance, some competitors provide limited customization options, meaning small businesses may have to settle for a generic solution that doesn’t meet their specific needs. Additionally, some competitors lack built-in modules, such as CRM or eCommerce, while others don’t provide detailed reporting and analysis capabilities. Ultimately, when compared to NetSuite’s comprehensive feature-set and secure platform, these competitors fall short in terms of providing an effective financial solution for small businesses.

Frequently asked questions about using NetSuite for small businesses

Small businesses are often in search of solutions to store their data, handle accounts and generate reports. NetSuite is a cloud-based ERP (Enterprise Resource Planning) solution that can facilitate all those tasks. It is a comprehensive platform that can help streamline the operations of small businesses, allowing them to operate more effectively and efficiently.

Common questions about using NetSuite for small businesses include:

How much will it cost?

The cost of NetSuite depends on a variety of factors, including the type of service and the number of user accounts. Generally speaking, pricing starts at around $99 per month for a basic plan that includes core financials, customer support and core CRM. For other more comprehensive plans such as Enterprise Edition or SuiteSuccess Solutions, prices range from $499 to upwards of $799 per month depending on the features included. These comprehensive plans also include add-ons such as integrated analytics, inventory management and eCommerce capabilities.

What specific problems does NetSuite solve?

NetSuite provides a comprehensive financial solution for small businesses that helps address key problems like data security, scalability and customization. The platform offers features such as company consolidated reporting and analysis, multi-currency accounting capabilities, built-in CRM and eCommerce solutions, integrated inventory management tools and budgeting tools. These features allow businesses to track performance in real-time, achieve higher visibility into their finances, manage their customer relationships more effectively and save money on software costs. All of this is complemented by an incredibly secure platform that safeguards sensitive business data against cyber threats.

What kind of training is needed to use it?

NetSuite provides a variety of training resources to help users get up and running quickly. These include online videos, webinars, manuals, and even instructor-led trainings. Users can also find expert advice from the NetSuite community or visit the forums to ask questions and talk with other users. In addition, NetSuite offers certifications for those who wish to become an expert in the software. To ensure long-term success with NetSuite, businesses should consider investing in training to ensure their staff is fully proficient in using all of its features.

Is it difficult to use?

NetSuite is not difficult to use, but it does require some technical knowledge. The platform offers tutorials and training sessions that users can take advantage of to ensure they understand how to navigate the program and best utilize its features. Once a user becomes familiar with the system, they may find that NetSuite is quite intuitive and easy to manage on a daily basis. Having an experienced IT specialist or consultant on staff or on call can also help make using NetSuite less challenging.

What resources are available for support?

NetSuite offers many different resources for users to access support. These include an online help center, tutorials, forums, and documentation. Additionally, users can contact the NetSuite Support team via phone, email or chat for quick solutions. For more technical questions, there are consultants available who can provide expert advice on a variety of topics related to NetSuite. Users can also join the NetSuite community to collaborate with other users and discuss experiences with the software.

To summarize:

The most important thing for small business owners to know is that NetSuite provides an innovative solution for managing the day-to-day operations with ease.

Hopefully, this article has helped you understand a little bit more about NetSuite and how it can help your small business manage its finances. If you’re interested in learning more or speaking with someone about your specific needs, be sure to reach out to us at Tentho. Our team of experts would be happy to chat with you about how we can help streamline your financial processes using NetSuite.

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