A Comprehensive Guide to Evaluating your NetSuite Purchase

January 16th, 2024 | Blog Posts

By: Lindsay Johnson

In any growing, modern business, making informed decisions about the tools that drive operations is pivotal. NetSuite, a leading cloud-based solution, offers a comprehensive suite of functionalities that integrate various business processes. However, determining whether NetSuite aligns with your business needs requires detailed evaluation by a dedicated team.

To get you started, here are some considerations to start with when evaluating if Netsuite is the ERP for your business. 

1. Understanding Business Requirements:  Begin by conducting an in-depth analysis of your business operations. Identify pain points, growth objectives, and areas demanding improvement. Categories to evaluate should relate to things like financial management, customer relationship management (CRM), supply chain, and reporting needs.

2. Scalability and Adaptability: One of NetSuite’s strengths lies in its scalability. Assess whether it can accommodate your business’s growth trajectory and adapt to changing needs over time. Factors like number of users, transaction volume, and global expansion plans play a role in what you should include in your Netsuite package.

3. Feature-rich Platform:  Dive into the specifics of NetSuite’s features. Every business has some level of nuance when it comes to operational processes, and evaluating Netsuite’s features to account for these nuances is important in moving your purchasing decision along. Assess how specific Netsuite features align with your current operational processes and long-term goals.

4. Customization and Integration: Explore NetSuite’s customization options. Can the platform be tailored to suit your unique workflows and industry-specific needs? Do you have existing systems that you’d like to integrate with NetSuite?  Ensuring that your business will have seamless data flow across your organization is crucial keeping your business running smoothly.

5. User-Friendly Interface and Training Resources: Checking out the actual user interface of Netsuite with your team will help you decide if Netsuite is right for you. Assess the learning curve to train your team on Netsuite and assess the availability of training resources, tutorials, and customer support to facilitate smooth adoption and usage.

6. Cost Analysis: Beyond the initial investment of purchasing Netsuite, it’s wise to evaluate the total cost of ownership of Netsuite over time. You’ll not only need to pay for  implementation, but also for customization, training, ongoing subscription fees, and implementation partner fees as well. You’ll need to ensure that the potential return on investment and long-term benefits is worth the cost to implement and maintain Netsuite.

7. Vendor Support and Reliability:  Investigate NetSuite’s reputation for customer support. Examine factors like response times, service level agreements, and the vendor’s reliability in addressing issues. Depending on your use case, you may need to consider paying for extra support from Netsuite or keeping your Netsuite implementation partner on as extra support long term.

8. User Testimonials and References: Seek feedback from existing NetSuite users, especially from businesses similar to yours. Their experiences can provide valuable insights into NetSuite’s performance, strengths, limitations, and how effectively it aligns with specific industry requirements. Your Netsuite reseller or implementation partner may be able to put you in touch with other Netsuite clients with a similar industry and Netsuite use case. 

In conclusion, the decision to invest in NetSuite requires a careful assessment of your business needs, scalability, features, customization, costs, support infrastructure, and real-world user experiences. While NetSuite offers a robust suite of tools, its suitability for your business hinges on its ability to seamlessly integrate with your operations and foster growth. By conducting a comprehensive evaluation, you can make a well-informed decision that empowers your business to thrive in an increasingly competitive environment.

If you are ready to investigate Netsuite, reach out to us. We are here to help!