Last Modified: January 17th, 2022
4 min read
NetSuite is an all-inclusive suite of cloud business management software. It offers a wide range of modules that can be used to streamline your business processes and make them more efficient. And there are many NetSuite modules available to help your business run more efficiently.
Whether you’re looking for better inventory control or want to analyze the performance of your company each year these modules will provide everything you need!
Choosing the right NetSuite modules for your business can be a daunting task. With so many to choose from, it’s difficult to know which ones are best suited for your needs. To help you make an informed decision, we’ve listed our top 5 favorite NetSuite modules below in no particular order of preference.
1. Sales Module
The sales module allows you to track all of your sales information such as leads, prospects, and customers in one location. You can also keep track of your pipeline and forecast. This NetSuite module is a great way to help you manage the sales process from start to finish.
There are many reports available including Proposal, Leads Summary, Pipeline Report, or Forecast by Product Lines. They all allow for detailed analysis of the data so that you can make informed decisions about your business strategy going forward.
The Sales Module also allows full-suite integration with external marketing automation software like HubSpot CRM Plugin, and Google Analytics Dashboard Connector plugin if you want to integrate these tools into NetSuite.
2. Accounting Module
The Accounting Module can be set up as a company file or an individual user depending on what is needed for the business. For example, if there are multiple people in charge of managing finances within the same company then setting this module up as a company file will allow each person access only to their own financial information while still having visibility into other users’ records when necessary.
All accounts are categorized by cost center so that expenses and revenues show up against those costs which will help you get a clear picture of the entire business.
Other features of the Accounting Module include advanced transaction processing which will import data from more than one accounting system into NetSuite to see how your figures stack up against other systems (Quickbooks Online, FreshBooks Self-Employed) in real-time. This means that you don’t need to manually enter data into NetSuite – it imports directly from your current accounting system and automatically deletes any duplicates.
3. Manufacturing Module
The manufacturing module helps you manage inventory across multiple locations so you never have overstock or shortage again. It tracks materials and labor so you can make better decisions about which products to produce. Plus, it’s easy to set up forecasts for future manufacturing needs based on previous production amounts or your inventory levels.
This NetSuite module offers a wide variety of reports such as Inventory Cost Analysis by Product Lines, Production Report, and Performance Reports by Location. You can use these reports to see how well each location is performing in terms of productivity and profit margins.
The Manufacturing Module can also integrate with SAP Solutions such as Material Requirements Planning, Production Control System, or Enterprise Asset Management which means that NetSuite provides all the information needed across departments – from raw material inventory to finished goods on shelves – in one location.
4. Retail Management Module
The Retail Management Module helps you manage your store inventory and personnel so that you can respond to customer demands, and decrease your chances of out-of-stock items. This module integrates with your inventory and order management so you can see how many of each item are in stock, or what items need to be ordered.
It also provides a variety of reports such as the Customer Order Analysis report which allows for detailed tracking of customer orders. It lets you know whether customers typically buy one specific product or if they have multiple options depending on availability.
If there’s an issue with an out-of-stock item then it’ll provide alerts that let you know who needs to make adjustments. You can use these alerts as well to set up notifications for when something is running low – like coffee mugs during the holidays! With this NetSuite module at your disposal, you can never have an out-of-stock item in your store again!
5. Advanced Reporting module
NetSuite Advanced Reporting is a great module to add if you want a more in-depth analysis of your NetSuite data. This reporting module can be used for things like forecasting, benchmarking, or business planning.
It also includes features such as the time series chart which will track sales and expenses across periods so that you always know how much money is coming in and where it’s going out to – whether it’s an itemized list of vendors or general categories such as marketing costs.
NetSuite Advanced Reporting will also include predictive analytics that can help you make better decisions by predicting what might happen in the future.
NetSuite is a business suite that can help small businesses with multiple needs, from sales to accounting. The 5 modules we’ve discussed in this blog post are the top ones for small businesses. If you want more information about these specific modules or have questions about how they may benefit your organization, contact our team today! We would love to answer all of your questions and provide insight into how you can use them successfully for your company.