NetSuite started as web-hosted accounting software in 1998 and gradually evolved to cover customer relationship management (CRM), as well.
In 2014, Forbes magazine named NetSuite one of the most innovative growth companies.
The software promises a 360-degree analysis of a business's customers, including helping with sales orders, fulfillment, upselling, and support.
The solution goes beyond simple customer management to also provide quote and order management support, as well as integrated e-commerce capabilities.
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|Reviewed by Expert Market:||23/06/2015|
Product, Service and Solutions
NetSuite's CRM features fall into four categories:
- Sales Force Automation - This module helps sales teams reach their goals through tools like quote management, sales forecasting, and commission management. In addition to sales tools, NetSuite offers the ability to store back-office information like contracts and inventory.
- Customer Service Management - Integrated customer service management software lets businesses review service requests and access real-time customer data to improve calls for support. Time tracking lets businesses track the amount of time they're dedicating to helping each customer.
- Marketing Automation - Brands can streamline marketing campaigns across multiple channels, including website, email, events, and social media. With lead reporting and analytics, businesses can monitor their marketing activities and make adjustments to improve results based on those reports.
- Partner Relationship Management - Businesses can manage partner collaborations by facilitating real-time communication. Through NetSuite's click-to-destination feature, brands can include links directly to the portal in emails to partners, sending them directly to the portal with one click.
Each of these modules works together to create a seamless CRM system that increases productivity and improves communication.
Through the mobile app, a business's employees can stay connected and manage processes wherever they are.
Outback Toys turned to NetSuite when it was having difficulty filling customer orders. The company was growing so quickly, it lacked the support it needed to manage the new orders coming in.
Using NetSuite, Outback Toys was able to save $25,000 per year on web store management staff, even as the company has seen 33% growth.
Through the use of NetSuite's SEO reporting and other upgrades, Outback Toys has also been able to drive new traffic to its website, leading to a 27 percent increase in web store traffic.
When compared to comparable on-premise software, Outback Toys saved more than $100,000 annually.
That Pet Place
Multichannel aquarium retailer That Pet Place used NetSuite to automate its accounting processes and provide financial reporting.
The company had previously been using spreadsheets to manage its finances, which drained productivity and lacked the visibility the company needed into its operations.
NetSuite not only helped That Pet Place manage its finances and improve productivity, but it also helped the company grow sales through its B2B channels.
Benefits and Drawbacks
NetSuite brings many benefits to businesses, including:
- Each feature works with the others to provide a seamless solution.
- Software can be customized to meet a business's unique needs.
- Mobile app allows for access wherever employees are.
There are also a few drawbacks that could serve as deterrents to some businesses:
- System can be complicated to navigate.
- Support is lacking.
- Pricing information isn't available without a personal quote.
NetSuite goes beyond typical CRM software to provide an all-in-one solution to businesses. Professionals can manage inventory, contracts, and partner collaborations directly through the portal. With advanced reporting for each module, businesses have complete visibility into every aspect of their customer and partner relationships.
For some, this all-in-one approach can make the solution complicated and difficult to learn. However, NetSuite offers a product tour to walk new users through the different features the software has to help them get acclimated. Businesses that choose NetSuite may be tasked with training employees and partners on the system.