Project management remains a crucial component for all businesses. Successful project management requires resources, experience, meticulous planning, large money, and trained people. But there must be a simpler way out, right? The answer is NetSuite Project Management.
The NetSuite Project Management software enhances the performance of teams by automating various manual tasks. It also eliminates the need for multiple systems required for project management, thereby further improving the efficiency and effectiveness of the project management resources. Thanks to the flexible integration option, the software can easily be integrated with other NetSuite and third-party systems to ensure seamless synchronization between multiple business systems.
Fortunately, that’s where NetSuite Project Management comes to the rescue.
NetSuite Project Management is a leading professional services automation (PSA) solution that enables businesses to effectively manage people, resources, budgets, and tasks through one unified platform. The NetSuite project management software gives vital insights and control to project managers to ensure they are able to allocate the right resources to the projects.
The software enhances the performance of teams by automating various manual tasks. The NetSuite project management software also eliminates the need for multiple systems required for project management, thereby further improving the efficiency and effectiveness of the project management resources. Thanks to the flexible integration option, the software can easily be integrated with other NetSuite and third-party systems to ensure seamless synchronization between multiple business systems.
NetSuite Project Management Module
NetSuite Project Management module enables project managers to effectively manage their resources for a project by closely collaborating with team members, and staying updated with real-time project status. This effectively enables managers to monitor the performance of all vital components involved in the project and resolve any potential issues before they bring down the operations; subsequently leading to improved rates of project completion, a lower number of non-billable work, and increased client satisfaction.
The NetSuite project management software delivers accurate real-time insights to the project management. This vastly improves the capacity of managers to effectively deal with all project components; subsequently leading to improved rates of project completion, a lower number of non-billable work, and increased client satisfaction.
Some of the key modules of NetSuite project management software includes;
1. Project Management
The project management module can easily be integrated with the NetSuite Financials, thus ensuring that businesses can accurately track project expenses, efficiently manage revenue recognition, create invoices, calculate unbilled balances, as well as, keep up with other project financials. The NetSuite Project Management module enables businesses to manage multiple types of projects simultaneously, whereby, project managers can track the status of all open projects through a single Project Dashboard.
2. Resource Management
Effective resource management enables businesses to have clear visibility and tracking of all resources and stay updated on which resources are available. Resource management also enables businesses to set and track KPIs to achieve the best possible outcome and maximum profitability from the projects. Some of the resource management tools offered by the NetSuite Project Management system include;
- Resource requests and bookings
- Automated resource allocation
- Resource search by criteria
- Resource forecasting placeholders
3. Project Accounting
The project accounting tools by NetSuite PSA enable businesses to integrate the financial data of the project with the project’s activities. This helps businesses to track and ensure precise accounting and billing for all project work. Some of the main features of the project accounting module include;
- Project revenue recognition
- Automated invoicing
- Summaries and reports for project profitability
4. Time Sheet Management
NetSuite’s project management’s timesheet management feature enables companies to keep up with the logging and approving time. The feature keeps managers updated with the right information to track team performance and take appropriate measures. Since the timesheet management module can be accessed remotely, it enables employees and managers to timely submit, and approve timesheets. Some of the features of the timesheet management module include;
- Bulk time tracking
- Project time approvals
- Users time approval
- Customized time entry
- Time tracking for multiple projects
5. Expense Management
The expense management feature enables managers to customized the processes for workflows, and approvals, to meet project requirements. The expense management tool can be integrated with project management and project accounting modules, which allows seamless and accurate tracking of project KPIs. Some of the features of the expense management module include;
- Expense tracking
- Overdue alerts
- Customized business rules
- Mobile expense report
- Advanced approvals
- Advanced workflows
- Consolidated expense reports
6. Analytics
NetSuite’s project management software’s reporting and analytic tools make it simple and convenient for project managers to keep track of the overall status and performance of the project. the analytical and reporting feature also enables managers to easily share information regarding budget estimation, profit margins, and other KPIs with stakeholders. Some of the features of the analytics module include;
- Interactive and detailed reports
- Personalized dashboards
- Collaborative reporting
- Alerts and notifications
Tools for Project Management
The success of project management depends on having the appropriate tools. The project management module of NetSuite provides an extensive range of features intended to optimize each phase of the project lifecycle. With NetSuite, project managers can create and assign tasks with explicit relationships and see progress using Gantt charts, all of which help to keep projects on schedule. Furthermore, real-time project dashboards offer an essential perspective on the state of the project, facilitating the prompt detection and resolution of any obstacles. Project managers can monitor budgets and guarantee project profitability in addition to tracking project progress thanks to NetSuite’s seamless integration of project management tools with its financial features.
NetSuite Project Management Price
NetSuite Project Implementation module pricing starts at $499 per user per month. However, the actual pricing of the module may vary and NetSuite doesn’t publicly inform the pricing information. Also, NetSuite doesn’t offer a trial period or free version for its NetSuite project implementation module.
NetSuite Project Management Alternatives
NetSuite Project Management may be one of the most comprehensive professional service automation (PSA) solutions for businesses, however, there are other PSA software that compete equally well with NetSuite for their worth.
Some of the best NetSuite Project Management alternatives include;
1. Harmony PSA
Advanced software like Harmony PSA offers the highest level of process automation, requiring user intervention only for value addition and not for administration. Designed to be future-proof for your organization, the product has a flexible user interface and a cloud-based business model. The market’s greatest professional services automation solution.
2. HaloPSA
A cloud-based and on-premise professional service automation (PSA) technology called HaloPSA was created for managed services operations that adhere to ITIL standards. MSPs can easily optimize their billing procedures, enhance ticket management, and streamline service desks using HaloPSA’s straightforward workflows and extensive service analytics, all from a single, highly adaptable service-designed solution.
3. Kimble
The Kantata PS Cloud was created through the merger of Kimble Applications and Mavenlink; it is a technology designed specifically to drive the future of professional services. Professional service businesses may make better decisions faster with the aid of Kimble PSA. Kimble is used by worldwide leaders in software, consulting, and technology, including NTT Data, Sage, and Canon, to maximize resource efficiency, profitability, and business scalability.
4. Monday.com
Monday.com is a work management platform that enables teams to manage projects and tasks without boundaries. Monday Work Management provides a customized feature set and an easy-to-use interface to meet the unique demands of any team, regardless of industry, for communication and collaboration.
Problems That Can Be Solved with NetSuite Project Management Module
Project Status
You can quickly and easily view current KPIs and customer information in Gantt charts, reports, and project dashboards using NetSuite.
Project Setup
To increase productivity from the beginning of a project to the last payment, NetSuite provides automated job creation, project templates, and native connections.
Resource Tracking
Resource tracking is accomplished in real-time with NetSuite project management since you can arrange calls, activities, tasks, and events in one location and link them to particular projects.
Project Budgeting
With the use of NetSuite’s automatic job creation, progress reporting, and P&L features, managers can evaluate project profitability using real data.
Resource Productivity
While keeping track of approaching deadlines, users can automatically, fully, and precisely allocate time and money to projects.
Folio3: A Certified NetSuite Project Management Partner
Folio3 is a certified NetSuite implementation partner, offering comprehensive implementation and integration services for NetSuite solutions. With over a decade of experience assisting businesses across the USA and Europe with seamless NetSuite implementation solutions, Folio3 has the expertise, experience, and resources required to deliver optimal value to businesses out of NetSuite solutions.
Why Choose Folio3 As Your NetSuite Implementation Partner?
As a seasoned NetSuite implementation partner, Folio3 has expertise across all facets of the NetSuite ecosystem and understands the complexities involved in the integration and implementation process. The proven NetSuite implementation methodology enables Folio3 to seamlessly complete the entire implementation process from identifying the business requirements to strategic planning, and from designing to actual deployment of the solution.
If you want to maximize the NetSuite implementation success chances, consider bringing us on board to support your in-house team. Be confident because we have the expertise and experience for NetSuite integration with a plethora of clients.
You can get in touch with us and check out our resources at Folio3.
Folio3 NetSuite Integration Services for ecommerce stores
Some of the NetSuite integration services for ecommerce stores include;
- NetSuite Magento Connector
- NetSuite Shopify connector
- NetSuite eBay connector
- NetSuite BigCommerce connector
- NetSuite WooCommerce integration
- NetSuite Amazon connector
Project Management in Netsuite FAQs:
Yes, NetSuite combines financials and project management. Real-time profitability monitoring is made possible by the capacity to compare predicted and actual revenue with budgeted vs actual costs.
Indeed. NetSuite meets a variety of needs. While complex projects can make use of features like advanced budgeting and resource allocation, simpler projects can be managed using simple tools.
You may find extensive online support documentation for Oracle NetSuite that walks you through creating projects, organizing tasks, and using a variety of features. Attending training seminars and looking through internet groups can also be helpful resources.
