Today’s businesses are often moving in the direction of SaaS (Software-as-a-service) and operate by bringing marketing, accounting, and other core functions into one integrated platform to achieve high growth rates by accelerating the cycle and they can help make sales, get quotes faster, and more deals. As more and more organizations use that prominent software to manage critical business functions, companies developing and delivering SaaS systems need a unified and strong foundation to meet customer needs and attract outside investment. In addition, to achieve the goal of profit, they need to allocate and use resources in a reasonable way to avoid waste, affecting time and costs. One of the best tools to help organizations ease their worries is Oracle Netsuite ERP (ERP is an acronym for Enterprise Resource Planning). This is a valuable tool. In this article, let’s learn how SaaS companies use it to earn more profit.
Overview of Oracle Netsuite ERP
Oracle NetSuite ERP is a comprehensive cloud-based system that helps businesses utilize resources efficiently and run business operations more quickly. Available in the market since 1998, this is the world’s number 1 cloud solution and is offered as a Software as a Service (SaaS). It includes a unified system with a full range of necessary tools and features, supporting businesses to control and operate a variety of activities efficiently and quickly such as accounting and finance, inventory management, CRM (Customer Relationship Management), sales administration, eCommerce, and many other office tasks. With a single integrated suite of applications, Oracle NetSuite ERP gives companies clear visibility into their data and tighter control over their business.
How SaaS companies use Oracle Netsuite ERP to earn more profit
Make the most of the features
Oracle NetSuite ERP has been trusted and used by organizations to maximize their profits for years by leveraging features and applying them to business processes reasonably and correctly.
First of all, this ERP solution helps sellers create and manage purchasing plans. Purchase requests, order status or purchase contract, and supplier debt and purchase reporting will be closely monitored and strongly supported. Besides, sales jobs such as making and managing quotes, fulfilling orders, and tracking orders will be done quickly thanks to automation. Another important feature that determines those processes is inventory management, developed by the Oracle NetSuite ERP system to help businesses achieve maximum profits. The feature supports tracking incoming and outgoing goods and inventory along with its information. This information is updated in real time and synchronously across sales channels, from which, buyers can know the stock status, remaining quantity, and accompanying promotions of the product and they will make a reasonable purchase decision. Sellers can easily manage inventory according to many criteria such as batch number, expiry date, and location or even make detailed inventory reports and analyses to make wise purchasing decisions.
SaaS companies now also integrate ERP systems to perform accounting, financial, and economic management tasks. In particular, it allows the store to accept payment by multiple methods and the revenue will flow to the company. Accounting features are used to manage cash inflows and outflows and balance them to be reasonable. In addition, accounting features can be applied to purchases, sales, inventory accounting, supplies, and assets, or even taxes. This system will help businesses manage and control their finances and related jobs.
Today’s organizations do business through projects, so an ERP platform gives them the support to plan production and allocate resources accordingly. The management reporting feature that analyzes periodic profits or reports on sales performance is also supported by the ERP system to determine the status and prospects of investments from SaaS companies to their projects. The businesses use Oracle NetSuite POS to increase profits by implementing an omnichannel strategy. They develop positive user experiences across different platforms, driving customers closer to their new products and services. This management-assisted retailer controls integrations and executes processes in a streamlined, secure manner and responds quickly to customer needs.
Leverage NetSuite integration
Oracle’s ERP platform uses an open API (Application Programming Interface). This allows businesses to easily integrate with other platforms, devices, and systems to import additional data and automatically update information from the outside. Solutions such as data collection and MES (Manufacturing Execution System) are also supported to easily integrate into the NetSuite ERP system, helping enterprises to collect, manage data flows, and operate production, thereby increasing efficiency. business productivity and increase profits significantly. This is the power of this leading cloud system.
Notably, retailers can transfer data into and out of NetSuite from other software while using NetSuite which supports a single source of information across operational systems. In addition, the system also has many add-ons such as the agreement engine and HubSpot connector, which exploits APIs. So within the same organization, a member can work with a consulting team to seamlessly integrate data. NetSuite also supports businesses from start to finish if they need it with the help of industry-leading experts who will provide suggestions to quickly resolve issues.
ConnectPOS is one of the leading POS solutions that can integrate with NetSuite ERP. It offers a wide range of useful features, helping the organization handle the traditional problems of retail stores. The integration with NetSuite gives SaaS businesses an enhanced retail experience with seamless and real-time data synchronization. It helps keep sales and inventory data up to date and synchronizes information on other essential business activities such as funding and financial processes. Managers will easily make informed decisions based on accurate inventory levels, sales trends, and customer data regardless of the sales channel. Notably, retailers can leverage this combination of POS with ERP solutions to exploit the full potential of omnichannel business by allocating resources to provide the best shopping experience. This POS solution also supports your system to integrate with other solutions such as third-party payment gateways, accounting, planning, and business administration solutions. This helps organizations operate more efficiently and achieve their profit goals.
Known for its powerful functionality, Oracle NetSuite ERP is a complete solution for SaaS organizations. Its scalability, flexibility, and cost-effectiveness help manufacturers increase revenue, control costs, update products, and improve customer service so they can maximize profits. Contact us if your business is looking for a connection with NetSuite.