NetSuite Document Management: Features, Benefits, and Best Practices

With integrated NetSuite document management, NetSuite is a popular and well-regarded cloud ERP (enterprise resource planning) system. Customer relationship management (NetSuite CRM), eCommerce, and finance are just a few of the sectors that are included in the unified NetSuite ERP platform.

NetSuite OneWorld offers businesses that oversee international and multi-subsidiary operations a real-time, unified worldwide solution when it comes to company management on a global scale, including financial consolidation.

One application that increases sales and streamlines operations is NetSuite ERP. This indicates that NetSuite ERP is capable of handling a large amount of documentation in real-time, including the uploading, managing, and storing of objects with custom fields. It is software designed to satisfy your multipurpose company requirements.

Since it has the potential to impact everything from productivity to compliance, proper document management is a crucial component of corporate administration. As part of their digital transformation, expanding businesses need to figure out how to effectively manage and streamline their document management procedures. Users can effectively handle important documents with NetSuite’s robust suite of document management solutions.

What is NetSuite Document Management? 

Document management for NetSuite is one of the main business operations of NetSuite. You may streamline your audit trail by adding reference documents to any record using the NetSuite ERP tool. This aids in file organization and year-end accounting.

Related attachments are supported for almost all record types in the system. Through your NetSuite account’s authentication mechanism, you may also manage who has access to these objects.

The NetSuite document management system can be used to archive NetSuite data as well as store and manage documents in different workflows. Email attachments, web content, customisation scripts, support cases, purchase orders, templates, and other items are all included in this NetSuite ERP file storage, file management, and data management feature. 

NetSuite Document Collaboration encompasses much more than just document management or storage. It is a platform for collaboration. Use the user-friendly, contemporary interface to manage, distribute, and drag & drop document versions. Any NetSuite record can access this, regardless of whether it is an entity (customers, vendors, partners, or any customer record) or a transaction (sales orders, invoices, quotations, or item fulfillment).

Best Practices of NetSuite Document Management

1. Establish a Clear Folder Structure

Having a well-organized folder structure simplifies document storage and retrieval. Here’s how you can achieve it:

• Define Top-Level Folders: Start with broad categories such as Finance, Human Resources, Sales, and Operations.
• Use Subfolders: Within each top-level folder, create subfolders for specific purposes. For example:

• Under Finance, include subfolders like Invoices, Tax Documents, and Reports.
• Under HR, have folders for Employee Records, Policies, and Recruitment.

• Naming Conventions: Use consistent and descriptive names like 2024_Q1_Reports instead of generic titles like New Folder.
• Avoid Overcomplication: Keep the hierarchy simple to prevent confusion and excessive nesting.

2. Utilize Role-Based Access

Role-based access ensures sensitive documents are only available to authorized personnel. Here’s how:

• Assign Permissions: Use NetSuite’s permission settings to restrict folders and documents. For example:

• Finance documents accessible only to the Finance team.
• HR files restricted to HR managers.

• Custom Roles: Create custom roles in NetSuite, such as Manager, Employee, or Auditor, and assign permissions accordingly.
• Periodic Reviews: Regularly audit permissions to ensure access aligns with job responsibilities and to remove access for employees who have changed roles or left the organization.

3. Integrate with SuiteApps

SuiteApps expand the capabilities of NetSuite Document Management:

• External Storage: Use apps like Box, Dropbox, or Google Drive to integrate external storage platforms for seamless sharing and backup.
• Collaboration: Enable real-time collaboration on documents by integrating with tools like Microsoft Office 365.
• Document Workflows: Automate processes such as approval requests or document routing using SuiteApps designed for workflow management.

4. Leverage Metadata for Better Searchability

Metadata makes it easier to locate specific documents within a large repository:

• Tags and Categories: Add metadata such as document type, project name, date, and department. For example, an invoice might have tags like Invoice, 2024, and Client_X.
• Custom Fields: In NetSuite, create custom fields to store specific metadata relevant to your business.
• Advanced Searches: Use NetSuite’s search functionality to filter and find documents based on metadata, like all Invoices from 2024.

5. Automate Document Workflows

Automation eliminates manual effort and ensures consistency in document handling:

• SuiteFlow: Use SuiteFlow to automate actions like routing a contract to the legal team for review.
• Approvals: Set up workflows that notify the next approver when a document is uploaded or updated.
• Notifications: Automatically inform team members when a document is uploaded to a shared folder or when a change occurs.

6. Version Control

Version control helps track changes and avoid duplication:

• Enable Versioning: NetSuite allows you to maintain multiple versions of a document, so you can track edits and revert to earlier versions if needed.
• Change History: Use the version history to see who made changes and when.
• Best Practice: Add comments to each new version to document what changes were made and why.

7. Regular Cleanup and Archiving

Over time, your document repository can become cluttered with outdated files:

• Define Retention Policies: Decide how long certain types of documents should be retained. For example:
• Financial records: 7 years (for compliance).
• Employee records: Retain until 5 years after termination.
• Archiving: Move older documents to an archive folder or external storage to keep active folders manageable.
• Periodic Audits: Conduct regular audits to delete redundant or irrelevant files.

8. Monitor Usage and Audit

Maintaining oversight ensures compliance and identifies potential issues:

• Audit Trails: Use NetSuite’s audit logs to monitor who accessed, modified, or deleted documents.
• Usage Metrics: Track which folders are accessed most frequently and optimize their structure.
• Security Reviews: Identify unusual access patterns that could indicate unauthorized activity.

9. Train Users on Document Management

Proper training ensures everyone in the organization uses the system effectively:

• Workshops: Conduct training sessions to teach employees how to upload, categorize, and retrieve documents.
• Guidelines: Create a standard operating procedure (SOP) document detailing the best practices for document management in NetSuite.
• Continuous Learning: Offer refresher courses or updates whenever new features are added.

10. Backup and Disaster Recovery

Backup solutions are critical to ensuring documents are not lost due to accidental deletion or technical failure:

• Integrated Backup Tools: Use solutions like SuiteBackup to automate the process of backing up your NetSuite data, including documents.
• Offsite Storage: Store backups in a secure offsite location to protect against physical disasters.
• Testing: Periodically test your recovery processes to ensure you can restore documents quickly in an emergency.

Top Benefits of NetSuite Document Management

Improved Organization 

Businesses can store all of their crucial documents in one handy database with NetSuite, which makes managing and accessing them easier. This can increase productivity and efficiency since employees can quickly locate and get the information they need.

Better Collaboration 

Employee collaboration on projects is facilitated by NetSuite document management, which enables sharing and collaboration on papers. Better teamwork and quicker task completion may result from this.

Enhanced Security 

Proper document management for NetSuite allows organizations to regulate who has access to important papers and store them safely. The same strong security measures that apply to all other NetSuite data are also available to users of NetSuite’s storage.

Improved Compliance 

Keeping your important financial records in order will also help businesses comply with SOX. This is particularly beneficial for companies that intend to go public in the near future.

Reduced Costs 

You may cut down on organizational redundancy and save money on cloud storage by using NetSuite to store your documents.

Top Features of NetSuite Document Management

File Storage 

Businesses can keep all kinds of information in one place with NetSuite, including PDFs, Microsoft Office documents, photos, and videos. A specific amount of space will be assigned to you based on your “Service Tier.” 

Document Search 

The document search feature in NetSuite is an effective way to go through your company’s papers and find the file you’re looking for quickly. This feature includes: 

Advanced Search Capabilities

Users can look for documents using a number of parameters, including date ranges, document kinds, keywords, and more, by using the document search tool. Additionally, users can store search parameters for easy access at a later time.

Full-text Search 

It is simple to locate specific information within documents thanks to the search function’s ability to search the full text of documents, including PDFs and other file types.

Customizable Search Filters 

To focus their search results according to particular parameters, such department or location, users can construct custom search filters.

Saved Searches 

By allowing users to store frequently used searches for easy access at a later time, they can avoid having to repeatedly enter the same search parameters.

Results Preview 

Finding the correct document fast is made easier by the search function’s ability to let users glimpse search results before viewing the whole document.

Cross-functional Search 

Users can look for documents in a variety of NetSuite modules, including as sales, inventory, and financials, among others.

Controlled Access

NetSuite gives its users a number of options for limiting file access so that only those who require access can access them. You can limit access to NetSuite documents in the following ways:

User Roles

You can designate user roles with varying degrees of document access in NetSuite. You can, for instance, design a role that lets people edit and remove documents or one that just lets them read documents.

Permissions 

You can specify permissions for particular actions, including viewing, editing, deleting, or sharing documents, inside each user role. Permissions can also be defined according to other criteria, such as the type of document or the location of the folder.

Folder Permissions

With NetSuite, you may restrict access to particular folders so that only authorized users can view the documents stored inside.

Document Sharing 

NetSuite lets you share documents with particular people or organizations, granting them access to files they wouldn’t otherwise have.

Conclusion 

Understanding every detail of your ERP system is crucial. It’s quite easy to utilize NetSuite. For expanding global corporations with numerous entities, it offers a OneWorld solution. Using capabilities like NetSuite document management to streamline workflows becomes easier as you become more familiar with the platform.