The enterprise-level customer relationship management (CRM) tool known as NetSuite CRM offers companies in a wide variety of markets a centralized location from which they can manage their interactions with potential customers, suppliers, and other parties. The NetSuite enterprise resource planning (ERP) platform, which is required, includes tools for financial management, accounting software, inventory management tools, and HR software. The customer relationship management (CRM) system is considered an added module to the platform.
NetSuite is one of the most feature-rich CRM solutions that we examined due to the combination of the ERP platform’s capabilities and the other available add-on modules. It makes it possible for companies to support the entirety of the customer life cycle, from the generation of leads to the fulfillment and renewal of customer contracts. Although the majority of CRM platforms that we analyzed provide hundreds, or even thousands, of integrations with software developed by a third party, NetSuite takes this a step further by managing everything in-house using native integrations. These add-on modules provide support for an all-encompassing workflow by means of a centralized data source that is available to all authorized users at any time and from any location via a computer or mobile device.
- NetSuite is an integrated cloud business suite that offers powerful tools for customer relationship management (CRM), enterprise resource planning (ERP), accounting, and online commerce.
- A truly unified platform, NetSuite is capable of managing all activities related to the company’s customers.
- Nearly every sales-related process, feature, or tool can be natively integrated into NetSuite thanks to the platform’s extensive feature set.
ERP stands for enterprise resource planning, and the platform that NetSuite offers offers professional tools for managing financial aspects, order inventories, warehouses, and supply chains. Because it is a truly unified platform, NetSuite does away with the requirement of integrating software from a third party. NetSuite has native integrations for nearly every sales-related process and workflow that can be imagined, and these integrations are available through the e-commerce add-on module of the software. These integrations are necessary for both B2C and B2B businesses. This feature will help you optimize your inventory management by connecting the data from your inventory management system to the data from your order management system. This will allow you to quickly fulfill orders for same-day shipping. This module also includes the tools necessary to construct engaging websites that are able to provide an easy-to-use shopping experience by including image galleries, product comparisons, advanced site search, and social sharing capabilities.
You can create B2C and B2B e-commerce sites that make it simple for a prospective customer to discover and purchase your products.
Tools for managing customer service are already integrated into the NetSuite CRM, which helps to improve customer satisfaction and reduce costs associated with providing service. By assigning, managing, and routing customer support cases via phone, fax, email, and the web, you can expedite the process of finding solutions to problems. You are able to monitor your customer service team’s metrics, such as call times, customer satisfaction scores, subscription renewal rates, and call volumes, thanks to the reporting tools that are included in the package. You can also improve customer self-service by allowing case submissions, allowing customers to track the status of their orders, and providing a searchable knowledge center that contains published articles and videos to answer simple questions or resolve common problems.
The case management tools provided by NetSuite can be used to monitor the effectiveness of your service team in resolving client issues.
- The unified, all-in-one commerce solution known as NetSuite is brought to you by the company known as NetSuite.
- The highly customizable platform can be constructed according to the exact requirements that you provide.
- Native integrations guarantee that all of the modules will use the same user interface and will function flawlessly.
- You will need to call in order to get pricing information for NetSuite’s CRM.
- The purchase of an annual license for other NetSuite products is necessary in order to use the CRM.
- You will be responsible for paying a one-time fee in order to get started with NetSuite.
For an accounting cleanup and onboarding for the first month, there is a $500 fee. After that, your monthly charges will be calculated based on your average monthly spending over three consecutive months.
NetSuite is not one of the most intuitive software programs for first-time users because it is an enterprise-level CRM that contains many sophisticated tools and features. The sales dashboard of the CRM prioritizes reminders, which highlight the available opportunities to close, the tasks that need to be completed, and the total contacts in the pipeline that have not had any sales activity in the past week. This helps to keep sales staff on track each day and ensures that they don’t miss any important opportunities. Your most important key performance indicators for sales, new opportunities, and new leads are all listed in the primary section of the dashboard.
To make sure your team has the knowledge and skills to make the most of your NetSuite investment, if you run a big business, think about pushing for certification training for a few key internal users and administrators.
You are easily able to drill down to any metric in order to get a deeper understanding of your performance or the opportunities that you missed. You are also able to personalize the dashboard to highlight the combination of tools, trends, and information that is most important to the accomplishment of your business objectives. When the e-commerce solution from NetSuite is connected to the CRM, the CRM transforms into a single system of record for all data pertaining to customer activity and transactions. As a result, the sales effectiveness is improved, and the customer experience is improved through the use of real-time data integrations. Accessing real-time business information, entering data, keeping customer information up to date, submitting expenses, and taking calls are all possible with the mobile app that is included.
Your team is immediately reminded to follow up on leads, complete sales tasks, and close on the best opportunities by NetSuite’s default sales dashboard.
In contrast to the vast majority of CRM software vendors, NetSuite does not segment its features into separate pricing tiers. Instead, NetSuite gives you the ability to personalize your software by adding the functions and resources that are most important to your company or sector. NetSuite’s stand-alone CRM module provides sales teams with the real-time data and insights necessary to drive sales and provide exceptional, personalized service. The software contains dozens of advanced features and tools that can be customized to meet the specific needs of individual sales teams. This includes mobile access, sales forecasting, commission payouts, comprehensive quotes, and automation of the sales force, customer service support, marketing automations, and comprehensive quotes. We’ve compiled a list of some of the capabilities that make NetSuite such an effective CRM platform and included it in the table below.
- Sales Force Automation. Integrate all aspects of the sales process, from gathering new leads to managing orders and fulfilling them.
- Configure, price, quote. Directly within NetSuite, simplify difficult-to-understand product and service quotes for your customers.
- Management of partner relationships. Make it possible to exchange information in real time in order to conduct joint marketing campaigns or sales activities.
- Native integrations. Enhance your CRM’s capabilities by utilizing the tools and features that come pre-installed.
Your company’s sales staff will be able to provide better service to customers by utilizing the information provided by sales force automation, which serves as the core of a customer relationship management system (CRM). The dashboard offers insights that can be acted upon into the activity of leads, prospects, and customers. These insights can be used to better inform sales strategies and prioritize activities for the day, the week, or both. The probability-based forecasting tools eliminate the need for guesswork during the budgeting process by providing real-time sales data, role-based dashboards that can be customized, and CRM analytics for sales managers and sales agents. Because you have direct access to all of the financial data through the ERP, all of the information pertaining to your customers is updated in real time, allowing for reports that are both simple and accurate.
The software can give your sales managers current data to compare forecasts to quotas and achieve sales targets.
The Configurable Product Quote (CPQ) feature of NetSuite makes the process of selling highly configurable products with many different variables, such as materials, colors, sizes, and textures, straightforward and error-free for you. The platform makes use of its own internal logic to prevent configuration errors, which will save you both time and money when it comes to rechecking or reworking orders for products like custom windows and front doors. Your sales teams will be able to shift their focus from providing time-consuming quotes to nurturing leads and opportunities if they have access to digital tools that are easy to use for creating 3D product visualizations and automating the generation of sales proposals.
The customization tools that come with NetSuite CRM help you cut down on errors and save time.
This one-of-a-kind CRM feature enables a two-way flow of information that is updated in real time, which improves partner collaboration on sales and marketing endeavors. You can create a conduit between organizations by working with other brands or vendors to run joint marketing campaigns, lead management, pipeline management, and order processing. This can be done by working together. The platform is also capable of automatically handling any partner commissions and royalties with shared data, which eliminates the potential for headaches or miscommunication regarding payments that are owed. You are also able to calculate your commission or partner payments by using the same internal parameters on sales, quantity, profitability, or any other criteria that you specify.
You can launch joint demand generation pages with your partners using NetSuite CRM, allowing them to track leads, sales activities, acquisition costs, and conversion rates.
When we talk about integrations with CRM platforms, we are typically referring to the capability of the platform to connect in a seamless manner with third-party software providers such as Slack, Mailchimp, and Outlook in order to simplify business processes. With NetSuite, the features offered by every must-have CRM integration, such as communications, billing, accounting, time tracking, customer service, and outbound emailing, are available as added modules that have been designed to work perfectly within NetSuite’s ecosystem. These modules include communications, billing, accounting, time tracking, customer service, and outbound emailing. You can tailor your CRM to any sector or kind of company by purchasing add-on modules at any time and adding them to your CRM. In addition, NetSuite is compatible with a wide variety of well-known business software service providers and comes with open APIs for facilitating individualized integrations. HubSpot and Keap are two CRM options worth thinking about if you need a solution that can easily integrate with the tools you already use.
You must make NetSuite CRM your primary software-as-a-service (SaaS) provider if you want to get the most out of it.
In contrast to the vast majority of providers of sales CRM software, NetSuite does not have pricing that is publicly listed, nor does it offer a variety of monthly plans that are differentiated based on the features that are included. The customer relationship management (CRM) software that NetSuite offers to its customers is considered an additional module to the primary platform and comes with a yearly licensing fee. The number of account users is used to calculate the total cost of purchasing NetSuite along with the CRM add-on. In addition, NetSuite requires payment of a one-time implementation fee in order to cover the costs associated with the initial setup. According to the findings of our investigation, the licensing fee, add-on modules, and additional user fees for small businesses can easily add up to more than one thousand dollars each and every month. Prices will range widely depending on the sales CRM features and additional tools that are included in the Oracle NetSuite platform that the customer purchases.
For the initial process of setting up your NetSuite account, a one-time implementation fee is required. Because the configuration of the CRM also requires NetSuite’s ERP, the full implementation process can take several weeks, if not months, of planning, data migration, configuration, testing, and training for your team to be able to use the platform effectively. This is because the ERP is required for the setup of the CRM. If you want to ensure that the implementation and launch of NetSuite go off without a hitch, you will almost always need to appoint a trustworthy project manager to work closely with your NetSuite representatives. Because it requires a significant investment of both time and effort, the NetSuite CRM is best suited for businesses that intend to make NetSuite their primary SaaS provider.
Through the use of the help button, any user can communicate with a NetSuite support specialist at any time from within the application itself. If you have access to your account information, you can talk to a support specialist over the phone or through a web chat at any time. However, if customers have questions about how to do something or are having trouble with their account, NetSuite recommends that they use the online form or the company’s SuiteAnswers knowledge center.
You should give some thought to contacting a certified NetSuite consultant or agency for assistance with larger projects or integrations that are made specifically for your business. There are a variety of product certifications available for administrators, users, consultants, and developers that can be obtained through NetSuite. The existence of these certification programs is evidence of the sophistication of the platform as well as its seemingly limitless potential for customization within any sector. In addition to completing coursework and passing a timed exam consisting of multiple-choice and matching questions, many of the certification programs require applicants to demonstrate that they have at least one year of experience managing NetSuite.
One of the most significant drawbacks of using NetSuite’s customer relationship management software is that the company does not provide transparent pricing information, and the estimated costs are relatively high. You will need to speak with an Oracle sales representative about the numerous features and tools you will require, and they will give you a custom quote after the conversation. Only then will you be able to accurately compare NetSuite to other competing software. In the consideration stage, many owners of small businesses struggle to articulate precisely what they require from their CRM and the software services that are related to it, making it challenging for them to purchase NetSuite.
Businesses that aren’t ready to adopt NetSuite for more than the basic CRM software will likely need to purchase NetSuite Connector as an added module in order to integrate with selling tools such as Shopify, BigCommerce, Magento, WooCommerce, Amazon, eBay, and Walmart. This is because businesses that aren’t ready to adopt NetSuite for more than the basic CRM software have a greater likelihood of experiencing technical difficulties. Accessing NetSuite’s extensive collection of native cloud-based tools, which can be used for virtually any business process, will typically result in an additional monthly module fee being charged to your account.
Does SAP resemble NetSuite?
No, SAP and NetSuite are not the same thing; rather, they are two different companies that offer business services and specialize in enterprise resource planning solutions. Both of these businesses offer CRM modules that are comparable to one another and can be tacked on to the primary platform for an additional charge on a monthly basis.
Is NetSuite owned by Oracle?
In July of 2016, Oracle made the public announcement that it planned to acquire NetSuite for the price of $9.3 billion in an effort to become a provider of cloud software. The transaction was finalized in November 2016, and after that date, Oracle began integrating NetSuite’s operations into its global business unit.
What is the distinction between Salesforce and NetSuite?
NetSuite is an online software service that focuses on enterprise resource planning first and foremost. The company also offers a customer relationship management product as an add-on, which is referred to as a module. Salesforce is primarily a provider of customer relationship management software, but it also provides additional tools to support enterprise resource planning (ERP) systems across all sectors.
- Organizations at the enterprise level looking for a unified data solution to manage all customer-related tasks.
- Businesses that currently utilize NetSuite’s ERP.
- Businesses in specialized industries with sophisticated software integrations.
- Small businesses that do not want to use NetSuite for their enterprise resource planning needs.
- Small companies looking for a straightforward CRM platform.
- Small businesses who require the most affordable CRM.
NetSuite is a business management platform that is hosted in the cloud and comes equipped with enterprise-level CRM tools. It enables omnichannel commerce and gives you a comprehensive view of your company.