NetSuite software is one of the most widely used cloud-based, self-operating Enterprise Resource Planning (ERP) platforms for businesses. NetSuite allows businesses to grow sustainably and streamline their operations. 

Currently, NetSuite is one of the most widely used ERP systems, powering over 40,000 businesses worldwide. The platform offers various application integrations and extensions, compatible with multiple systems, thus enabling easy integration with existing infrastructure. 

It also brings added value to developers, integration partners, and end-users to modify the platform as per their unique business needs.

This blog provides a detailed explanation of NetSuite ERP, including its products, features, implementation, and associated costs. 

History of NetSuite

It was founded in 1998 by Evan Goldberg under the name NetLedged. It was introduced as a web-based accounting solution originally. 

However, it quickly evolved into one of the first true cloud ERP platforms that also plays a significant role as CRM, inventory, and eCommerce (all in a single system). In 2016, Oracle acquired NetSuite for $9.3 billion. Then it has been positioned as Oracle’s cloud ERP offering for mid-sized businesses and fast-growing enterprises. 

NetSuite has grown into a widely adopted platform that serves over 40,000 organizations with a strong presence in industries like ecommerce, manufacturing, and software services. Its custom solution, SuiteSuccess, and global expansion have also made it a top ERP solution. 

What is NetSuite ERP & How Does It Work?

NetSuite is a unified cloud platform that brings together core business functions, like accounting, inventory, order management, CRM, and eCommerce into one system. 

Users can access real-time data and workflows from anywhere, without needing to manage servers or software updates.

Each part of your business feeds into a single database. 

Here is an example that can help you understand it better:

When a sale happens online, NetSuite updates inventory, triggers accounting entries, and reflects the transaction in CRM automatically. 

This helps reduce manual entry, reduce errors, and keep every team working off the same up-to-date information. 

It also has tools like dashboards, workflows, and custom roles. These tools enable it to adapt to how your business operates, not the other way around.

NetSuite requires various modules to maintain fast and efficient operations, along with sustainable growth. These modules include customer relationship management (CRM), service resource planning, order management, payroll and HR management, warehouse and inventory management, and various other modules.

NetSuite as ERP and CRM

NetSuite is both ERP and CRM, which makes it a unified platform to manage everything from financials and operations to customer relationships and sales. 

As an ERP, it handles accounting, inventory, procurement, and order management in real time.

As a CRM, it tracks leads, automates sales processes, manages support cases, and gives a 360° view of customer interactions. 

Below is a brief overview of each. 

What is NetSuite CRM?

The NetSuite customer relationship management (CRM) module is a cloud-based SaaS platform that enables businesses to automate various key operations, which remained hideous with the traditional approach. 

Since it’s cloud-based, it can be accessed by all team members remotely via the internet or a web browser with no downtime, thereby significantly improving business efficiency. 

NetSuite CRM offers advanced features, which aren’t found in many of the older CRMs, such as providing an overview of the customers in real-time.

The NetSuite CRM comes with various processes like sales forecasting, partnership relationship management, marketing automation, and customer service management, all aimed at improving business functionalities and increasing efficiencies in business processes.

What is NetSuite ERP?

NetSuite ERP comprises the complete suite of integrated services that are completely customizable to meet unique business needs. 

The ERP suite offered by the NetSuite platform includes human resources, Inventory management, warehouse management, resource planning, automation of professional services, and much more; thus delivering the complete package of professional services required to streamline business processes and minimize inefficiencies.

NetSuite enables businesses of all sizes to increase accounting efficiencies, manage costs, and help them streamline the procurement process for efficient order management. 

By automating the key business operations, NetSuite ERP reduces the need for manual interventions in business processes, thus maximizing the overall productivity for businesses.

NetSuite’s financial management and accounting module helps improve financial reporting for businesses while also improving employees’ productivity. It also enables businesses to improve their decision-making process by offering them key insights into business performance.

Top 6 Core Features of NetSuite

The five core features of NetSuite include a unified view of the business, true cloud, native integration, deep reporting capabilities, and built-in flexibility. 

Let’s take a look in detail below.

Unified Business View

One of the most important features of NetSuite that makes it the top choice among stakeholders is its unified business view. 

Businesses can manage all their operations on one centralized platform rather than using different software or third-party tools. From finance, supply chain, manufacturing, HR, and ecommerce, all the databases are present in one system. Users can click and monitor all the information on one platform with just a few clicks 

True Cloud

The main foundation of NetSuite was on a cloud-first platform. And that being said, there’s no on-premise version to maintain or upgrade. 

Users can always access the latest version, updates happen automatically, and there’s no need for costly IT infrastructure or server maintenance. 

Native Integrations 

NetSuite applications have a central database, which means that there is one source of knowledge. It has natively integrated modules that negate the need for any third-party applications or integrations. 

With its centralized and unified architecture, users get a common UI across all modules that reduces training time (no steep learning curve) and helps people understand it quickly. 

In addition to that, by using its native integrations, one can complete order-to-cash, procure-to-pay, and other multi-step processes from a single application without re-entering or exporting information.

Reporting capabilities 

It has strong reporting capabilities with the vast amount of data that comes from different departments’ business units into the NetSuite platform.

Using this data, users can generate reports on different units as per the requirement at any time using its built-in reporting tools. 

In addition to that, it has role-based dashboards that give managers, employees, and executives the information that is required to make informed decisions. 

Built-in Flexibility 

It comes with built-in flexibility that gives a lot of room for customization to users. They can create custom fields and workflows for user roles, dashboards, and scripts, without fighting against rigid software limitations. 

It is best for a number of other verticals, such as manufacturing, e-commerce, or services.

Customizing NetSuite to Meet Your Exact Requirements

NetSuite’s SuiteCloud platform gives you complete flexibility to tailor the system to your business, without fear of version lock; your customizations carry over automatically with every upgrade.

You can shape the system visually or with code, whether you need new fields, automated workflows, complex integrations, localized setups, or packaged deployments.

Key SuiteCloud tools include:

• SuiteBuilder

It is dated, but users can easily add custom fields, forms, records, and roles via point-and-click, so NetSuite reflects your structure and business terms.

• SuiteFlow

It automates approvals, data validations, and workflows through a no-code visual interface.

• SuiteScript/SuiteCloud IDE

It uses JavaScript via SuiteScript 2.x to build tailored interfaces, backend logic, Suitelets, RESTlets, scheduled jobs, and more.

• SuiteTalk

Using this, users can integrate seamlessly with third-party systems via REST or SOAP APIs for real-time data exchange.

• SuiteBundler/SDF

This tool packages and distributes the configurations or custom apps and objects you have created across accounts or to other customers who are using SuiteBundler or the SuiteCloud Development Framework (SDF).

• Internationalization features

NetSuite supports multiple currencies (almost 190+), tax regimes, and languages—all fully supported for global businesses.

• Performance monitoring

It is used to track system health and script performance via dashboards that help maintain uptime and responsiveness.

Types of Businesses that Use NetSuite

NetSuite is best for businesses of all sizes, ranging from small businesses, medium-sized businesses to enterprises. 

Below is a brief description of how different types of businesses can leverage NetSuite.

NetSuite CRM for Large-Scale Businesses

NetSuite CRM offers various benefits and features to large-scale businesses, such as reducing operational costs, maximizing uptime, scalability, and end-to-end encryption. Some of these benefits of NetSuite CRM for large businesses include:

• Using NetSuite, businesses no longer need to worry about the system’s integrity, maintenance, and infrastructure, thereby reducing operational costs and improving efficiencies.
• Also, as it’s a cloud-based platform, businesses no longer require large office space to maintain servers.
• NetSuite ensures maximum uptime for businesses, thereby significantly improving customer service and boosting overall business productivity.
• The platform is completely scalable, thereby businesses can rely on NetSuite to grow as they require.
• NetSuite offers end-to-end encryption, making it a highly secure platform for businesses. It also offers an additional layer of security by offering individual IP addresses and dedicated networks.

NetSuite CRM for Small and Medium Businesses

With its pay-as-you-go model and scalability, NetSuite is highly helpful for SMEs, as it offers them a cost-effective approach to grow.

Since most SMEs operate with a limited budget, NetSuite offers them a big relief where they are no longer required to maintain a dedicated in-house team for daily tasks, which can be automated for lower costs and improved efficiency.

NetSuite Industries 

NetSuite is best for a number of industries, mainly:

• Advertising and Digital Marketing
• Biotech and pharma 
• Real Estate
• Consulting
• Education
• Energy
• Financial Services
• Professional Services
• Health and Beauty
• IT Services
• Manufacturing
• Media and Publishing
• Nonprofit
• Restaurants and Hospitality
• Insurance Companies
• Software and Technology
• Transportation and Logistics
• Wholesale Distribution

NetSuite Products Overview

NetSuite offers a wide range of integrated modules designed to support every business operation and function, from finance and operations to customer management and planning. 

Finance

It manages tasks like updating the general ledger, managing AP/AR, and generating regulatory reports. 

NetSuite also supports multi-entity consolidation, real-time currency conversion, and complex revenue recognition.

Other key features include:

• Global Business Management (OneWorld)
• Planning and Budgeting
• Billing (SuiteBilling)

Operations

In this, NetSuite offers real-time visibility into inventory across all locations. Reorder points, cycle counts, and automated alerts help optimize stock levels and cash flow. Other key features of the product include: 

• Order Management
• Procurement
• Warehouse Management (WMS)
• Manufacturing 
• Demand Planning

Customers

Being a CRM, NetSuite offers the best features. It provides a full customer view, i.e., sales history, support cases, and marketing activity, in one place. Includes tools for sales automation, forecasting, and campaign management.

With SuiteCommerce, companies can build responsive, multi-channel ecommerce sites connected directly to the ERP. 

Additional Capabilities

• SuiteApps
• Payroll
• Human Resources (SuitePeople)
• Professional Services Automation (PSA)
• Analytics (SuiteAnalytics)

How Much Does NetSuite Cost?

NetSuite pricing starts at approximately $1,000/month for the base ERP package, plus $99–$149/user/month depending on license type and access level. Add-on modules, like Inventory Management, CRM, WMS, or SuiteCommerce, are each priced separately. Implementation services typically range from $20,000 to $100,000

For a full breakdown and recent updates, check out our detailed guide:
👉 A Complete Guide on NetSuite Pricing for Small Businesses

Streamline Your Business Operations using NetSuite | Folio3

Our customized NetSuite solutions, implementation, and management services ensure our clients are able to streamline their systems and processes. Folio3 offers end-to-end business software solutions to businesses, starting from planning to implementation and post-launch support. 

Request a NetSuite demo today! 

FAQs

What language is NetSuite written in?

The server-side language of NetSuite is JavaScript, which enables customers to write business logic efficiently without the need to learn a new language.

What is NetSuite OpenAir?

NetSuite OpenAir is one of the leading professional services automation solutions that enable business leaders, teams, project managers, and consumers to gain increased visibility, stay connected, thus improving the overall productivity of the business.

What is NetSuite OneWorld?

NetSuite OneWorld offers SMEs, multinational businesses, NGOs, and non-profit organizations a unified global business management platform at an affordable cost, as compared to an on-site ERP solution.