Category: Erp

Landed cost refers to the expense as a result of purchasing a good. It is the total cost the customer needs to pay to acquire the commodity from the vendor. For a locally bought product, you don’t just need to pay for the item itself, but also for the accompanying freight, insurance, handling charges, and so on.

If your company is buying a product internationally, then you will also need to pay additional tariff charges and customs duties. NetSuite’s landed cost category makes it easier to track expenses and ensure accurate cost of goods sold (COGS) calculations. All these costing occurs in the procurement department of the company and are then applied to the Item Receipt in NetSuite.

Significance of Tracking NetSuite Landed Costs For Your Business Operations

Suppose your company fails to record landed cost in NetSuite. In that case, your purchase price for the item will only be the cost of the inventory that you paid for the item alone, and will not include all the additional expenses incurred for acquiring the item. This can cause miscalculations when creating budgets, as landed cost sums up every cost involved from sourcing the item to its final delivery. 

NetSuite’s landed cost is of great importance for your business as it impacts:

1. Accurate Product Pricing: If the business does not record landed cost, it can make a wrong estimate of the product charges that may not cover all the shipping expenses. Using ERP for procurement enables businesses to reflect the true valuation of assets, which supports accurate and better decision-making. 
2. Profitability: Incorrect product pricing will consequently lead to decreased profit margins as the expenses will have to be managed.
3. Purchasing decisions: From the purchasing perspective, it’s important to understand the landed costs when comparing competitive pricing. For instance, a product that costs less per unit when purchased from overseas than domestically seems like a better deal – until international freight charges, customs duties, cross-border taxes, and insurance are not imposed, which takes up most of your budget and lowers profit.
4. Shipping Decisions: Monitoring landed costs over time can help you identify opportunities to reduce shipping expenses. You can also consider choosing a different shipping company that could lower your expenses or negotiate with your carrier for better deals.

Key Features Of Landed Cost NetSuite

1. Accurate COGs Calculation: Ensures that all the costs that have accompanied the acquisition of the good are incorporated.
2. Streamlines System Integration: Works with the NetSuite procurement system and financial modules for consistent cost tracking and inventory management.
3. Multi-location Costing: Enables businesses to accurately allocate costs across different regions. 
4. Flexible Cost Allocation: Enables efficient cost distribution based on weight, volume, quantity, or value

Methods Of Allocating Estimated Landed Cost In NetSuite

In real-world supply chains, landed costs are often calculated from multiple sources. For instance, your supplier will charge for the goods, a logistics company for the shipment, and a customs broker for the customs duties. With NetSuite’s landed costs from multiple vendors functionality, you can effectively allocate costs from different vendors to the same shipment or purchase order, further ensuring that your expenses are accurately calculated and reflected in the financial statements. By taking into account all these factors, businesses can ensure complete cost visibility and can manage accurate financial statements.

Mismanagement in NetSuite implementation service may result in inaccurate inventory valuation, leading to wrong or understated profit margins and misleading financial reports. The technique of incorporating multiple vendors and recording all the expenses then leads to the calculation of the total landed cost. Additionally, it is worth noting that calculating landed costs is not always an easy or quick process, especially when multiple products are involved and calculations are performed manually. 

The basic formula for landed costs calculation is adding together a product’s unit cost, shipping cost, customs duties, risks, and overhead, which can be demonstrated as follows:

Landed Cost = Product’s Unit Cost + Customs Duties + Shipping/Freight + Risk + Overhead

Where:

• Unit Cost = Price of each unit of the product
• Shipping/ freight cost = This includes packaging and handling charges
• Customs are allocated by each country, where agencies are responsible for collecting duties, tariffs, and harbor fees associated with goods crossing into and out of the country.
• Risk fees = This covers insurance, compliance, quality control, and the cost of all the accompanying factors that aim to prevent the company from running out of stock.
• Overhead Costs = They cover additional handling fees that include currency conversion, bank charges, and other surcharges. 

How to Set Up NetSuite Landed Cost

The following step-by-step guide outlines a complete guide for the effective configuration process in 2025:

Step 1: Enable the Landed Cost feature: Log in as Administrator and navigate to Setup> Company> Setup Tasks> Enable Features

Step 2: Click the Inventory Subtab

Step 3: Check the box for “Landed Cost”

Step 4: Click: Save

Enabling this feature will apply the landed costs to all item receipts and bills.

Creating NetSuite Landed Cost Category

Landed costs need to be appropriately categorized for accurate reporting. For instance, categories like customs duties, freight, and insurance help allocate the right costs to the right categories. 

To enable the cost category, the following steps should be followed:
Step 1: Enable the Landed Cost feature: Log in as Administrator and navigate to Setup> Accounting > Setup Tasks> Accounting Lists >New

Step 2: Choose Cost Category

Step 3: In the Name field, enter an explanatory title like: Freight charges 

Step 4: Choose an “Expense Account” that should be allocated for this  category

Step 5: Click: Save

Setting Up Item Records To Track Landed Costs

Tracking the inventory items becomes essential to allocate costs for each item sold. This is done through the following steps:

Step 1: Navigate: Lists> Accounting> Items

Step 2: Click “Edit” next to the item you want to configure

Step 3: Click the Inventory Subtab

Step 4: Check the box for “ Track Landed Cost.”

Step 5: Click: Save

Through enabling this option, every time you receive an order for this specific item, there will be additional costs allocated directly to it. 

Allocate Landed Costs Directly to Item Receipts Or Vendor Bills

Once the setup is complete, landed costs can be applied during the purchasing process. 

There are two options to do this; let’s explore both of them.

OPTION A: During the Item Receipt

Open the Item Receipt Tab. Navigate to the Landed Cost Subtab. Check “Used Landed Cost.” Select the “Cost Categories” and either enter the amounts manually or link them to the bill. Lastly, allocate the costs by categories such as weight, quantity, or value, and save the receipt. 

OPTION B: Link Vendor Bill To The Item Receipt

Create a Vendor Bill for the additional charges.  Navigate to the Landed Cost Subtab. Select the item receipt to which the bill is related. Enter the amounts and the related Cost Category and save the bill. 

Explore How NetSuite Landed Cost Per Line Ensures Fair Cost Distribution

As discovered above, not all items in the shipment share the same size, weight, or value, and so applying a fixed landed cost across an order may lead to inaccurate inventory valuation. This is where NetSuite Landed Cost per line plays its role as a powerful tool. This approach enables businesses to allocate additional expenses like freight, insurance, or customs duties to individual items on a purchase order or vendor bill instead of evenly distributing the costs across all items. 

This approach is enabled in NetSuite by the following steps:

Step 1: Navigate to the Vendor Bill or Purchase Order

Step 2: Select “Landed Cost Per Line” as your preferred method

Step 3: Choose how to distribute costs based on value, quantity, or weight

Step 4: Save the changes and review the updated cost allocation

Conclusion

This can be evidently proven that NetSuite project management cost can either add up or diminish the company’s value and revenue. With NetSuite’s landed cost feature, companies can efficiently track all the associated costs, whether local or international, in acquiring the inventory. Accurate calculations can help business owners make smart decisions, and they can further determine the best prices for acquiring the stock and avoid any expensive mistakes. 

FAQs

Q1: Is landed cost the same as COGS?

Landed costs include all the costs that are incurred from the sourcing of the product to its final delivery through any mode of transport. These costs are directly based on the factors that are explained above and may vary from country to country. Since they only reflect direct costs, they are not the same as COGs.

Q2: What is the difference between standard cost and landed cost?

Standard cost mainly refers to the predefined or budgeted cost assigned to the product based on anticipated expenses like materials, labor, and overhead, and is mainly used for budgeting and planning. On the other hand, landed cost represents the actual cost of acquiring the product, including the purchase price and all the additional expenses such as freight, insurance, customs duties, and other handling charges, making all expense calculations accurate. 

NetSuite extends its expertise in providing accurate insights on planning, forecasting, and budgeting. Our integrated applications, designed by financial experts, aim to address every pain point that is among the common functions of accounting and finance departments across all industries. NetSuite’s Planning and Budgeting Cloud Service (PBCS) has been recognized as the top Financial Planning and Analysis tool available today. 

From the perspective of financial planning and budgeting, NetSuite’s Planning and Budgeting (NSPB) is the leading platform available on the market today. It is not just a budgeting tool to help you analyze your existing financial statements or pull reports at month-end. Still, it is a smarter software with enhanced features and functionalities enabling clients to analyze, forecast, plan, and budget after gaining the financial insights using the built-in data analysis features. With the data at your fingertips, you can never lose track of your finances and can make well-informed decisions, encouraging teh achievement of your financial goals. 

What Is NSBP In NetSuite?

Finance teams have been struggling with annual budgeting for a decade. As soon as the books are closed, the budgets become outdated, and leaders are left guessing on how to adjust and align them. 

How about automating your budget plans in a way that it moves at the pace of your business? What if your company continuously innovates and the finance departments work in sync with all the changes, making the process of planning and budgeting efficient and easy? 

This is where NSPB transforms business processes and significantly upgrades and automates the budgeting process in a way that makes it no longer an annual task but instead a strategic investment for finance leaders. 

NetSuite ERP performs all the above tasks as it automates the process of accounting, inventory, and order management. However, it cannot meet the future demand or encourage strategic decision-making. Oracle NetSuite NSBP effectively addresses the gap by facilitating real-time forecasting and efficient workflow planning. These capabilities play a key role in shaping the future of your organization by planning for seasonal fluctuations, managing expenses, and ensuring that budgets stay aligned with the overall business goals beforehand. NSBP does not replace your ERP system, but in fact, it’s designed to complement it. As companies expand, their financial decision become complex, and it becomes essential for them to get real-time actionable insights that could encourage smarter and faster decision-making intended towards business growth.

NetSuite planning and budgeting cannot perform day-to-day operational tasks, but is designed for strategic forecasting. It won’t be wrong to conclude that when NSPB is positioned as a quick fix for ERP shortcomings, it can lead to misconceptions and unrealistic expectations. Companies should clearly communicate NSBP’s role as a future planning tool, enabling them to manage all uncertainties with confidence using data-driven insights, making businesses adopt all the market trends efficiently. 

Explore How NetSuite NSBP Improves Cross-functional Decision-making

In most companies, data used for planning and budgeting is scattered across different departments and teams. Oracle NetSuite NSBP collects all this information under a unified, integrated framework. By collecting this information in a centralized database, NSPB enables faster and informed decision-making through testing plans and assumptions before deploying them.

With NSBP Oracle, the finance team gains sufficient resources needed to confidently evaluate the existing budget and the cost that could be invested to scale the sales team, manage any supply chain disruptions, and further ensure that the departmental budgets are aligned with the strategic business goals. This integration transforms fragmented business plans into an integrated organization-wide strategic framework. Whether you call it NetSuite PBCS or NSBP, the end goal is the same – smarter, faster, and collaborative decision-making that adds value to your business. 

Implementing NSPB – Key Features and Functionalities

NetSuite’s Planning and Budgeting tool includes features that provide real-time insights into the company’s transactional data. Additionally, it includes analysis and budgeting features that enable your organization to set out the costs and revenues for a specified period of time. A pre-allocated budget enables companies to set out future financial conditions and goals, as well as potential revenue sources over time.

Secondly, forecasting is another key benefit of NSBP for your organization. The forecasting tool smart recognizes risk and, at the same time, identifies potential opportunities. This enables drafting or modifying the strategies and further ensures the processes are collaborative.

NetSuite planning and budgeting training is important to ensure that your organization is compliant with all the local and national regulations and tax laws so that you can serve across multiple countries. Failing to do so may pose a severe challenge to your organization if you are looking to expand your business across different locations. NSBP guarantees automated tax and fiscal compliance for over 100 countries, again making you expand effortlessly across countries and ensuring that you invest your time in operational optimization and growth.

This results in efficient and streamlined operations that take your organization to the next level. The statistical effectiveness through the implementation of NetSuite can be evaluated through a 38 percent reduction in planning processes, 32 percent less time invested in the management of financial reports, and a 12 percent increase in accurate forecasting. This can further be emphasized through Daniel Ruettieger, Senior FP&A Accounting Associate, as he said: “ NetSuite Planning and Budgeting helped us close our books 20% faster, giving us the flexibility to make faster, smarter decisions.”

Time To Make A Strategic Move Towards NSPB Oracle

A cloud-based software does not require any costs for system upgrades or maintenance, and instead updates automatically to ensure maximum utility throughout the year. NSBP has been specifically designed to enhance your operational performance and is adaptable to reflect your chosen performance metrics and desired goals.

Organizations that are getting benefits from this software are the ones that have truly understood its purpose. NSBP is solely built to address strategic challenges and play its role in future planning, forecasting, and alignment of financial information, and does not intend to replace your ERP system, which performs day-to-day operations. 

Your achievement of business goals starts with the training of your internal teams and stakeholders on how to make the right use of NSBP. Companies can make good use when planning to expand their business and could align their initiatives across departments, with higher confidence and flexibility. Are you ready to unlock the potential of NSBP? Connect with us and explore how you can implement teh features and functionalities to transform your plans into actionable insights.

FAQS

Q1: Who is NetSuite’s biggest competitor?

Anaplan is widely recognized for its cloud-based software, which is primarily used for planning and budgeting, offering strong capabilities in the same domain as NSBP. 

Q2: What is NetSuite Controversy?

There is a collection of issues mainly from data exposure vulnerabilities, and so it’s advisable to conduct security checks and to always choose experienced implementation partners. 

NetSuite Analytics Warehouse (NSAW), the very first and prebuilt AI-enabled cloud-based data warehouse and analytics solution for NetSuite, consolidates business data, built-in analytics, and AI/ML models to deliver powerful insights that could accelerate informed decision-making and transform them into actionable outcomes.

By merging historical and financial data from NetSuite, CSV files, and other databases into a cloud data warehouse, NSAW simplifies the task of transferring data as it adopts a cost-effective approach of automating these processes. Powered by Oracle Autonomous Data Warehouse, NetSuite Data Analytics Warehouse offers automated scalability, optimization, and advanced data analytics. Instead of analyzing data in silos, NSAW shifts the focus of users towards a workflow-wide perspective that could help them recognize emerging market trends and make truly informed decisions. 

To optimally enjoy the benefits of NetSuite Analytics Warehouse and completely understand its integration with your existing framework, it’s essential to gain a comprehensive guide. The following blog covers all the key features and functionalities of the NetSuite data warehouse.

What is Data Warehousing In ERP?

Data warehousing in ERP is the process of collecting and storing a large volume of business data, primarily from an ERP system, in a centralized database commonly referred to as a data warehouse, for efficient evaluation and business insights.

While an ERP system plays its role in automating day-to-day business operations to increase efficiency and enhance productivity, a data warehouse is used for long-term data storage for analysis and a faster reporting process. 

What is the NetSuite Analytics Warehouse feature?

With NetSuite Analytics data warehouse, you are able to get in-depth insights into your company’s historical data from multiple sources, making you well-informed on how you can improve your business operations. To make the right use of the software, it is essential to enable the features to start transferring your data to the Analytics Warehouse. It is only after that that you can consolidate your data with other sources and evaluate it with a wider range of visualizations. 

To enable the NetSuite data warehouse feature, you need to follow the steps:

1. Navigate: Setup> Company> Setup Tasks>Enable the feature
2. Click the Analytics subtab
3. Enable the NetSuite Analytics Warehouse feature

Your Analytics Warehouse account is now being configured, which might take some time. After its completion, the integration record of the NetSuite data warehouse will be automatically generated. 

After the above steps are completed, resume your setup by adding users and activating your data transfer. Adding users enables them to access the complete database of information that is transferred to the Analytics Warehouse.

 

Furthermore, to integrate NetSuite’s data with the Analytical Warehouse, you need to select relevant functional areas that need to be included. This is done as follows:

1. Navigate: Setup> Integration> NetSuite Analytics Warehouse> Configuration
2. Go to NSAW Data Transfer setup
3. Select the data from which the data needs to be transferred
4. Select the subsidiary and the functional areas that are to be included in the transfer

Please note that data from your selected areas will be refreshed automatically every 24 hours. The first transfer might take longer, but after that transfer takes place daily after every subsequent increment 

Discover the Key Features and Benefits Of NetSuite Analytics Warehouse

Let’s take a look at the core features that NetSuite Analytics Data Warehouse offers:

• Designed to seamlessly integrate with the Oracle NetSuite
• Manages data from multiple locations to give extensive insights into the business operations
• Uninterrupted data transfers
• Built-in analytics features like dashboards, KPIs, reports, and visualizations to fulfill a wide range of business needs.

NSAW empowers businesses to make faster, cost-effective decisions by offering the following key benefits:

• Pre-built AI capabilities: With built-in AI features, NSAW validates, centralizes, and collects data from multiple sources, ensuring the reliability of data. The AI features continuously run in the background, minimizing human error and delivering quicker financial and business insights through incorporating pattern and outlier recognition, and automating the process of supply and demand forecasting. AI is therefore able to accurately uncover trends, provide real-time reports, and evaluate all the current and historical information. 
• Elimination of Technical Expertise: Since NetSuite has a built-in capability, it significantly reduces the need for specialized and extensive IT skills required for manual coding. Instead, it offers cost and resource-efficient benefits that significantly enhance teh effectiveness of business operations. 
• Accessible Analytics: With its built-in analytical capacity, NetSuite Data Warehouse encourages quick and independent insights into all key business data without having to rely on technical or IT teams.
• Automated Reports: It was a huge hassle in the past to create manual reports. With NSAW, self-serve reporting has incorporated extensive customization features along with visually appealing dashboards, simplifying the task. Reports are automatically updated with any changes without the need for the user to rebuild them and invest additional time. Since all the reporting is presented on one screen and all data from multiple sources is collectively available, it eliminates the need for users to navigate across platforms to spot inefficiencies and find growth opportunities. 
• Enhanced Regulatory and Compliance: The platform ensures high standards of maintaining confidentiality and therefore protects all sensitive business data when storing or evaluating it from multiple software systems and NetSuite ERP systems. 
• Performance Optimization: Effectively helps in evaluating inefficiencies and potential opportunities across business units. 

Different Analytics Options To Consider As A NetSuite Customer

Integrating with NetSuite offers various benefits that are primarily based on the provision of real-time data insights that could help in making well-informed decisions. There are four different analytics options that NetSuite customers should consider and must select the one that fulfills their specific requirements. 

1. NetSuite Analytics Warehouse: If you have a large database and run a NetSuite-centric business, then a NetSuite Data Warehouse is a smart option for you. 
2. NetSuite SuiteAnalytics: If you have budget constraints and have NetSuite-specific analytical needs, then NetSuite SuiteAnalytics is the right option
3. NetSuite SuiteQL: This is widely opted for when you just want a subset of analytics data.
4. Own data warehouse and Estuary Flow: If you already have a data warehouse, but have limited options to transform and load NetSuite data, then Estuary Flow provides a no-code connection to NetSuite with integration from both SuiteAnalytics Connect and SuiteQL options. 

Final Words

NSAW should be among the most prioritized investments for data-driven decisions from real-time and accurate insights into the market trends. The evolving workplace requires high-standard technical expertise to thrive in the digital world. However, NSAW plays a self-serving role used with little or no technical expertise as it has pre-built AI capabilities, making it a cost and resource-efficient tool for companies. 

Once the data is efficiently stored in a central database with easy access to all NetSuite users, employees can effortlessly make well-informed decisions and address the business problems. As a NetSuite ERP solution provider, we have practically evaluated that integration of data with just NetSuite ERP is not sufficient to give you accurate insights, but the capability of understanding and analyzing that data and comparing it with the market trends can result in a meaningful output for your business. This is where companies realize the importance of NSAW and consider it as their strategic investment. 

ERP integration for Shopify not only drives your business towards greater efficiency and increased productivity but also goes an extra mile by identifying strategies that can effectively transform your e-commerce business across all departments. Shopify ERP for e-commerce is tailored to seamlessly integrate the operations of finance, supply chain, and sales, ensuring the smooth operation of business and consistent growth.

If you are struggling and want to realign your strategies, employing an ERP software for Shopify can be a game-changer. The blog can be a useful guide to understand the Shopify ERP system and how you could employ the tips and techniques in your business to maximize the benefits.

Significance Of Shopify And ERP Integration

Shopify merchants can understand the pressure of managing all the various activities that require their attention and play an important role in enabling their online stores to thrive in the digital world. This is where Shopify integration with ERP steps in and becomes responsible for overseeing all aspects of your business from one focal point. This is a transformative step towards Shopify ERP automation and hassle-free business operations.

The ERP software acts as a central hub, taking control of the specifics of inventory control, customer service, and order management, and allows users to gain real-time insights into the supply and demand, stock levels, and further ensures customer demand is accurately met with the optimum resources. Additionally, this process eliminates the fear of excess inventory or stock shortages that could significantly disrupt your customer base. Since ERP operations automate the processes of keeping your database up-to-date, in the long run, this can lead to improved operations and boosted revenue. 

ERP Shopify Integration – Most-used Methods

1. Custom Integration:

To use this method, programmers can use Shopify’s API code and match it with the ERP system that is to be integrated, so that both systems align with the business needs. Here, since businesses develop their own customized integration, they are solely responsible for managing it too.

2. Vendor-built Integrations

It includes reliable and ready-to-go integrations covering common use cases for e-commerce merchants, and so provides a connection right out of the box.

3. Integration Platform As A Service (iPaaS):

iPaaS is a cloud-based ERP software for Shopify that helps build and deploy an infinite number of integrations. Since it employs cloud technology, this platform offers scalability, quicker synchronization, and faster implementation.

Whether it’s through customized integration, vendor-specific solutions, or utilizing the potential of iPaaS offerings, Shopify ERP streamlines operations that guarantee remarkable growth of your business. However, it is essential to select the right Shopify ERP compatibility that suits your business needs and structure. 

ERP For Shopify – Revolutionizing Your Online Store

Operational productivity in e-commerce is synonymous with having proficiency in the order-to-fulfillment process. With Shopify ERP development, your labor-intensive sequence shifts to automated workflows serving as the linchpin for managing emerging complexities. By embracing Oracle ERP processes, you optimize the communication channel within your business, which is essential for maintaining a dynamic and responsive e-commerce presence. 

Let’s now discover your business processes that can be automated through a typical ERP system:

1. Inventory Tracking

Among the multiple key benefits of Shopify plus ERP integration, inventory management and order fulfillment tend to be among the critical areas that could either make your business stand out and attain a competitive advantage or drive it to a major failure. Especially when managing these, Shopify ERP integration can bring a huge transformation in accelerating the process and fulfilling it promptly. Automation provides direct visibility into your inventory levels and ensures that the products are always ready to meet the evolving customer demands, and further leads to informed decision-making.

2. Order Management

The robust automation extends through the sales process; the once labor-intensive tasks of order processing and fulfillment become smooth, as there comes a noticeable boost in productivity and improved customer satisfaction due to timely delivery. This brings to a conclusion that ERP for Shopify not just monitors the inventory levels and the number of orders but also revolutionizes your business with incredible efficiency, making it compatible enough to secure a competitive edge. 

3. Financial Reporting

Preparing comprehensive financial records tends to be the most daunting task and takes hours of manual effort, making employees frustrated and significantly reducing their ability to engage in any further activities. Integrating a robust financial management module that syncs perfectly with your store systemizes the process. Whether you need to analyze sales trends, estimate revenue, or track expenditure patterns, the financial management ERP module offers enhanced reporting capabilities that deliver accurate insights into all these areas and further provide resources needed to access your company at any point in time. 

ERP Integration For Shopify: Step-by-step Guide

To ensure you are on the right track in selecting an ERP system that is compatible with your business needs, read through the following steps.

Step 1: Evaluate the data or information that is most relevant for your business to integrate. This can include financial information, inventory data, customer data, or order details.

Step 2: Identify business processes that are repetitive, inefficient, or require too much manual effort, which could disrupt your team’s efficiency. These are the tasks that should be prioritized and automated to improve your business efficiency and productivity.

Step 3: Determine Shopify ERP compatibility to ensure that then chosen ERP syncs with your business needs accurately. Additionally, you will need to decide if you want to deploy your ERP in the cloud or on-premises. This decision is fully dependent on your data’s security and volume.

Step 4: Explore the multiple options for choosing the right integration method. You can use Shopify API ERP, your ERP’s native e-commerce integration capability, or a third-party integration, whichever suits best based on your business. 

Benefits Of Shopify And ERP Integration

1. Improved Customer Experience

Your customers will be quick enough to notice the benefits of Shopity ERP automation. With an integrated ERP system, you will be able to deliver a smoother and better customer experience due to an automated CRM module that manages your shipping, tracking, and payment efficiently and further increases the productivity of your business. 

2. Increased Accessibility

ERP itself allows you to oversee hige sets of data in one place, making your task much easier and hassle-free. However, connecting Shopify to an ERP will enable accessibility anywhere and at any time, which will significantly speed up the decision-making process.

3. Cost Effectiveness

ERP Shopify integration enables you to take control of your stock, orders, and customers in real-time, ensuring just-in-time management for every process. For instance, to manage your stock, you will only buy or manufacture what is needed, and the rest of the process is automated, making your operations cost-effective.

Can ERP Software Replace Traditional Project Management Tools

While ERP software manages end-to-end business operations, it often includes a project management module for tasks like budgeting, forecasting, and resource allocation. For industries like manufacturing or construction, where the main departments comprise Finance, Supply Chain, and HRM, ERP alone can perform the operations. However, businesses that require visuals and creativity would need an ERP for project management to perform their major tasks. Hence, the decision completely depends on the nature of the projects and the complexities. 

In terms of ERP integration for Shopify, if the ERP system is not planned properly, your business might face setbacks.

1. Outdated systems: If your systems are not upgraded with the new updates, especially the ERP, then connecting to Shopify would be additional work, as the transformation would require a lot of effort and increased complexities.
2. Cost: For small companies, the installation of these systems would require additional allocation of budget because of the high upfront cost needed as an investment. However, in the long term, ERP systems do give your business an ROI. 
3. Customization: If your existing ERP module has already been customized, new integration strategies may not work for you and will require another set of strategies to integrate the customizations required for the new system. 

Who Should Be Your Shopify ERP Development Service Provider

There are numerous ERP systems that are working in the market with their own sets of strengths and weaknesses. Among these, NetSuite ERP Solution Provider is leading among the Shopify retailers. Integrating Shopify with NetSuite will enable real-time insights into inventory and orders. Additionally, with an automated approach, a perfect check and balance can be maintained of the customer demand and the resulting inventory supply.

The key features of NetSuite Implementation Service are as follows:

1. Inventory Management: Automates inventory management by tracking stock levels and the relative supply and demand trends. 
2. Order Processing: Shopify orders flow into NetSuite without any manual entries which significantly reduces human errors and streamline order fulfillment.
3. Financial Statements: Automating financial processes results in accurate calculations of revenues and tax and up-to-date financial information.

Conclusion

Shopify ERP for e-commerce , is the foundation for the success of your company in terms of efficiency, productivity, and reliability. Through automating processes, you are taking a strategic step towards equipping your Shopify store with the ability to navigate and capitalize on the emerging market opportunities. With all the potential benefits of ERP as discussed, it is important to find a right service provider for a customized integration solution that benefits your business as well as customers. NetSuite ERP for Shopify Service can be your right partner fulfilling all your business needs efficiently. To schedule a demo, get in touch with us today!

The ERP functional architecture features an integrated platform that consolidates all business data and operations into a single location. The most common business functions in ERP include Finance, HRM, Supply Chain, CRM, and Project Management. Additionally, ERP system functions also incorporate Artificial Intelligence (AI) and Machine Learning (ML) capabilities to automate business processes and make it easier to identify ongoing trends, predict outcomes, and anticipate business demands.

Industries are heavily relying on ERP functions to ensure productivity, enable efficient operations, and help leaders make well-informed decisions. While the functional modules of ERP cover a range of capabilities, they often require integration with specialized software for more advanced functionality across all domains.

What Are The Core Functions Of An ERP System?

ERP features and functions are not only restricted to large corporations, but they also enable small companies to optimize their business with products that ensure a scalable solution that fits every business size. 

The blog aims to empower companies towards making an informed decision for choosing an Oracle ERP functional for their business needs. Let’s quickly dive into the ERP function bios to understand the benefit of each module for your business.

Financial Management: 

This module encompasses core accounting functions that can include payables, receivables, ex[emses, cash flows, and revenue recognition. Additionally, advanced business function in erp might incorporate complex features such as forecasting, budgeting, and asset management. Collectively, such functional modules of ERP can enable organizations to streamline all financial operations. 

Accounting

This ERP system functions as a standalone accounting software consisting of tools that are extensively used for preparing the general ledger, managing cash flows, recording expenses, and preparing invoices. This software enables pulling data from different source systems, synthesizing it, and then storing it in a central repository where it can be used for all the important financial functions. 

Order Processing

The process refers to optimizing operations from taking orders to fulfilling them. The incorporation of an ERP system makes managing information from different departments efficient and easier to proceed with order fulfillment across multiple departments. 

Integration

This ERP functionality is the complex aspect of the software, as it enables business data to be shared between systems for faster insights, and this is how ERP functions improve decision-making, lead towards more agile collaboration, and automate data transfers without the need for any manual help. 

Data Analysis

If your business operations involve activities such as forecasting, budgeting, or performance tracking, erp functionality checklist will create actionable insights by storing all business data in a centralized location, providing better insights to decision-makers who can then plan an appropriate course of action. 

Businesses aiming to get the most out of their data reporting should definitely consider incorporating Oracle ERP functional modules that allow users to create custom dashboards and reports, making the complex data easier for the decision-makers to evaluate. 

Automation

Businesses always search for opportunities that could reduce their manual efforts for repetitive and repeatable tasks. Automating processes not only reduces the hassle of completing work but also makes business processes productive and efficient. Instead of working on low-value and repetitive tasks, your employees can invest that time in learning new technologies or incorporating operations that could add value to your business. 

You should evaluate your business tasks and decide on the ERP features and functions needed to accurately meet the needs of your business. 

Supply Chain Management

The supply chain feature in industries enables industries to track demand, monitor inventory levels, ensure optimum manufacturing, and efficient distribution. Therefore, it is crucial to study the in-depth supply chain features that could add value to your business and how the process can be integrated with ERP functions. 

The ERP functional requirements for supply chain management systems should help companies set achievable and realistic inventory goals and create effective distribution plans that could maximize the company’s profit. Moreover, incorporating ERP software would enable businesses to pinpoint areas of inefficiency and give them greater control in balancing their supply and demand. 

ERP systems that include CRM features can bring customer relationship data into your centralized database. This way, every business activity that you perform ties back to the value you’re delivering to end-users.

In seconds, employees can access all the information they need on each account, including contacts, order history, and prospect status.

When this information is digitized and automatically updated, team members can easily perform tasks, such as:

• Completing purchase orders
• Creating accounts receivable reminders
• Alerting account executives to follow-up on prospects in the sales pipeline

Many types of CRM software are sold as standalone systems and focus on outward-facing activities, such as:

• Customer interactions
• Pipeline management
• Sales tracking
• Prospecting activities
• Marketing campaign development

However, there is a great advantage to integrating CRM and ERP functionality. When you do so, you can align your customer-focused activities with your back-end processes and operational data. This enables centralized control of accounts and contracts.

If the systems are separate, users must retrieve this data by bouncing back and forth between two platforms. By integrating, you can eliminate the risk of data duplication or inaccuracy, and you can facilitate cross-department collaboration.

What Are The Differences Between ERP And Traditional Business Software?

There is a huge difference when comparing ERP with traditional business software, not just in terms of automation, but various business activities that have positively affected businesses and increased their value over time. Business functions in ERP have experienced the following key enhancements in their operations:

1. Smarter Decision-Making: ERP functions refer to the collection of data from multiple datasets and arranging the information altogether. This allows accessibility to a huge information that allows companies to make informed decisions. Instead of conducting extensive research only when the need arises, the software enables companies to have access to a stream of data that can be easily transferred across different departments, enabling companies to stay ahead of the market trend.
2. Improved Productivity: The continuous flow of information across different business departments allows employees to identify the performance gaps and areas of improvement through which they could mutually work to achieve business growth, resulting in improved productivity and efficiency. 

Since the functions of ERP helped employees to be better informed of the ongoing trends and they were able to closely align with the business needs, the company succeeded in achieving a competitive advantage. 

Automation

Incorporation of sources like AI and ML to gather data and evaluate past activity plays a major role for businesses in identifying trends and to anticipate future demand top stay ahead in the industry by making themselves well-equipped with all the evolving trends.

ERP solutions are primarily focused towards speeding up business processes by significantly reducing manual efforts. This helps minimize frustration among employees and since the employees are no longer involved in manual tasks, they could concentrate more towards areas of improvement and how to achieve better performance metrics.

Cost-effective:

A direct advantage of automating business processes is reduced operational cost and further achievement of better enterprise resource planning. 

For example: NetSuite Implementation Cost focused on executing plans that could improve efficiency and make optimal use of business resources. 

Improved Data Security

ERP software designed by highly skilled Oracle ERP functional analyst offers huge confidentiality of data. It ensures the business data is safeguarded and further eliminate the threat of any information being transferred into wrong hands. ERP functions ensure to maintain log reports that monitors the accessibility of users and further enable managers to allow employees to only access the data that is relevant to their job need. 

Conclusion

The blog has comprehensively highlighted various ERP business functions. Understanding how each enterprise resource planning function and feature works for your business is essential towards achieving your business needs.

As NetSuite ERP Solution Provider, we are well-versed in evaluating your business needs and can help you understand how each ERP function bios might align with your business goals. If you need help in understanding how an ERP system can transform your business with end-to-end growth and efficiency, book a consultation call with us!

Launched in 2019, the NetSuite REST API effectively overcomes the complexities of traditional integration systems, such as SOAP, by using an optimized JSON-based interface. This Oracle NetSuite REST API streamlines integration with modern cloud-deployed applications that significantly enhance scalability and efficiency for extensive workflows, and plays a key role in aligning your ERP with other business systems. You need to no longer rely on manual entry or spreadsheets, as data is exchanged automatically, and your team can make decisions with the current data available. Although various API options are available, the NetSuite REST API integration is beneficial for simple data operations and unlocks powerful capabilities for developers and businesses by leveraging modern web standards. 

The blog will provide a comprehensive overview of the NetSuite Rest API and will highlight its capabilities and benefits.

Why Use NetSuite REST API FOR BUSINESS AUTOMATION

• Scalability: The NetSuite REST API browser has a strong and modern foundation due to emerging web technologies that enable it to manage large and complex datasets. It can further fulfill the needs of businesses of all sizes.
• Smooth Integration: The REST API browser NetSuite makes business processes efficient by effortlessly integrating with other applications and systems, allowing them to streamline their operations and workflows.
• Customization: Developers can make required customization through the NetSuite REST API browser based on their different business needs. They can create custom fields, record types, and scripts to automate business processes and enhance the productivity and efficiency of their workflows. 
• Current Information: The NetSuite REST API provides real-time access to NetSuite Data, allowing businesses to make well-informed decisions based on the current information.

WHAT IS THE DIFFERENCE BETWEEN NETSUITE REST API AND SOAP API

The NetSuite SuiteTalk Rest API offers a modern, developer-friendly approach by using standard HTTP tools that make designing a web and mobile application easier. It returns data in JSON format, making it more readable and efficient for users compared to the XML format used by the SOAP API. 

The SOAP API, however, is used for enterprise-level integrations, fulfilling complex tasks. Due to its XML structure, it offers comprehensive assistance in maintaining customized records, managing intricate workflows, and actions that may not be fully supported by the REST API. SOAP maintains a stricter protocol and is well-suited for systems that require bulk processing and deep integration logic. 

RESTLET VS NetSuite SuiteTalk REST API

FEATURES	REST let	NATIVE REST API
Customization	Fully customizable	Limited to what NetSuite exposes
Ease Of Use	Requires scripting knowledge	Easily used with NetSuite REST API endpoints
Performance	Light-weight and high-performing for small-scale operations	Optimized for standard integrations
Authentication	Token-Based Authentication (TBA)	OAuth 2.0 and TBA
Security	Manual implementations of security checks and data validation	Built-in model
Maintenance	Requires manual upgradation	Maintained by NetSuite
Use-case Fit	Accommodates custom workflows	Best for CRUD operations
Error Handling	Need to define error structure	Standardized HTTP and JSON error responses

WHAT IS THE API LIMIT FOR NETSUITE SUITETALK (SOAP API)

Depending on the type of account and licensing, NetSuite imposes the following limits:

1) Concurrency Limit: This is defined by the number of Concurrency licenses your account has: 1 license = 1 concurrent thread.

2) Daily Request Limits: Each SOAP request consumes a certain number of units. For instance, 1,000,000 units/day is a common enterprise-level, but it is dependent on your account tier.

3) Burst Capacity: Exceeding the maximum consumed limit may result in “Request Limit Exceeded” errors. 

WHAT IS THE LIMIT OF RESTLET IN NETSUITE

1. Concurrency Limit: The default limit is 5 concurrent threads per user and 10 per account. Based on your account tier and licensing, you can request a limit increase. 
2. Daily Request Limits: Typical governance limits are 10 units per day, but it is again subject to your account tier. 
3. Burst Capacity: No limitation at the API level, but high frequency of calls can be restricted by the backend if it impacts performance. 

GETTING STARTED WITH THE NETSUITE CALL REST API

To make your first API call, you will need to set up an Integration Record, configure Roles and Permissions and authenticate with OAuth 1.0a.

STEP 1: Creating NetSuite Rest API Integration Record

Navigate to Setup > Integration > Manage Integrations > New.

Name the Integration as for e.g: “My REST API Integration”

Enable Token-Based Authentication (TBA)

Save to generate the Consumer Key and Consumer Secret needed for authentication. 

Step 2: Assigning Roles and Permissions

Go to Setup > Users/Roles > Access Tokens > New

Choose the created integration and select a user and role and HIT SAVE.

Now, generate the Token ID and Token Secret for the application

STEP 3: OAuth 1.0a NetSuite REST API Authentication

Go to the authentication tab and select OAuth 1.0a as the type.

Set the Signature Method.

Enter the Consumer Key and Consumer Secret generated previously.

Then enter the Token ID and Token Secret obtained before and set the oAuth version to 1.0. 

Here is the sample of first NetSuite call REST API

NetSuite REST API EXAMPLES AND CASES

The following are the best ways to make use of this API in various business tasks.

1. Cloud Integration: Its JSON-based structure is ideal for cloud native applications, making it particularly useful for:

• Updating sales orders directly from a Mobile application, ensuring real-time visibility.
• Inventory Checks: Enables keeping inventory up to date to prevent any stockouts and to efficiently assist in-store customer queries. 
• Expense Reporting: Employees can submit all financial metrics via mobile.

2. Approval Workflows for Accounts Payable and Procurement

For example:

• Purchase order approval based on predefined criteria and notifying them in applications like Microsoft Teams
• Enables invoice matching through automation tools by comparing them with POs based on custom rules.
• Budget Approvals are based on the predefined budgets and spending limits.

3.  E-Commerce Integration:

• Synchronize inventory data to prevent stockouts
• Automatically update customer orders, which significantly reduces manual entry and the accompanying errors.
• Sync customer profiles and order histories to enable an improved customer experience

4. Custom Reporting and Analytics Dashboards

Among the most common situations for customized reporting and analytics, some are as follows:

• Access real-time financial reporting with continuous updates that are automatically upgraded. 
• Automates the inventory levels, turnover rates, and market trends to make informed decisions regarding the demand forecasts and the accompanying purchase decisions. 
• Continuously accesses sales and customer data to generate analytics based on customer preferences and to make accurate demand forecasting.

CONCLUSION

From pre-production to deployment, the NetSuite REST API demands attention to automation, ensuring operational efficiency, increased productivity, and acquiring a competitive advantage. NetSuite Rest API offers robust solutions for developers to access NetSuite data and automate key business processes. By adopting this modern API framework, organizations not only automate their processes but also take a strategic step towards scalable growth and real-time decision making. 

NetSuite is a cloud-based ERP software that provides sufficient incentives to businesses. Saved search in NetSuite is among its most valuable functions, encompassing a complete suite of financial, inventory, and customer relationship management tools, which significantly enhances the company’s productivity and ensures that the company has up-to-date information in all domains.

A NetSuite saved search is an essential feature for businesses that want to gain real-time analytical data to enhance their business operations. Creating saved searches in NetSuite enables users to search and filter from huge sets of data through which they can generate unique and customized reports, spot the ongoing trends, and make well-informed decisions based on the current information.

How Saved Searches In NetSuite Make A Difference in Your Business

NetSuite Saved Searches impact your business operations by serving all the different domains with each type best suited for the specific needs of specific departments. As one of the powerful tools in the NetSuite implementation service, saved searches allow users to retrieve, filter, and analyze real-time information across all modules. The following saved searches are frequently used by companies within NetSuite to optimize their operations.

• Activity Search: Within the Oracle ERP processes, NetSuite activity saved search records tasks, events, phone calls, and all the important business events and customer engagement. This enables users to gain insights into the business processes and make informed decisions. ,
• Customer Search: NetSuite’s Customer Search tool stores crucial information such as employees’ contact details, purchase history, and payment terms, which can be filtered, sorted, and grouped in various ways. These saved details can be used anytime in the future to analyze and evaluate the data and make an informed decision.
• Item Search: This feature saves a record of items based on their pricing, sales, stock levels, and other relevant information so that the product history can be easily evaluated anytime, and the company can evaluate the performance of all its products and services.
• Opportunity Search: Stores information about potential sales, the probability of winning the deal, and further identifies top-performing sales and analyzes the company’s sales performance.
• Task Search: The feature enables users to filter data based on task type, status, and priority. This tracks the work performance and enables the company to efficiently handle the appointments, phone calls, or meetings with no hassle.
• Transaction Search: The feature manages financial tasks that include creating purchase orders, sales orders, and invoicing. This further enables the handling of cash flows and the recording of revenues and expenses in a timely manner.

Furthermore, NetSuite saved search plays a crucial role in business intelligence and automation for the following reasons:

1. Improved Data-Access Control
2. Customizable Reports meeting specific business needs
3. Enhanced operational efficiency by automating data retrieval tasks
4. Informed decision-making that closely align with the business goals
5. Increased cross-team collaboration through instant access to essential KPIs across all departments.

How To Create A Saved Search in NetSuite

For creating saved searches in NetSuite, first figure out the type of record you need to search, which might be a customer, a transaction, or an item. Secondly, specify the conditions for your search, like a specific date, and incorporate these filters to narrow down your search to get specific and desired results. You can also specify the column you want to see, like customer name or transaction type, to sort the results based on your preference.

After specifying the filters, you can save the changes and run them anytime you need. You can also automate the process that would increase the efficiency of your operations, enabling your business to stay up-to-date with the recent information.

NetSuite Saved Search- Step-by-step Guide

Start with an easy yet descriptive title. For this example, we’ll name it “Bill Payments – Corresponding PO and Bill.”
NetSuite will automatically generate an ID for your Saved Search, but it’s always better to set one buy yourself so that you can remember and manage it easily later.

A helpful tip: always begin the ID with an underscore because NetSuite adds a prefix (like customsearch) automatically. For instance, if you use_bill_payments_PO_and_bill, the full ID will be customsearch_bill_payments_PO_and_bill.

If you want everyone in your organization to use this Saved Search, check the ‘Public’ box. To make it viewable in dashboards or lists, also check ‘Available as List View.’

Step 1: Define Criteria For The Saved Search

Criteria help filter out unnecessary data, so you only get the results you want. Without setting criteria, NetSuite will return all records of that type, which isn’t ideal.

Specify Transaction Type

In the Criteria > Filter tab, select the ‘Type’ field to choose the type of transaction, like Bill Payments.

Note: This is different from the overall “Saved Search Type” (which in this case is “Transaction”). The “Type” filter further narrows your search to specific transaction types within that category.

Select ‘Bill Payment’ in the popup, then click Done and Set. Now, only bill payment transactions will appear in your results.

Main Line Criteria

The Main Line setting determines if your search will show only the header (main) line or include all line items.

• Set Main Line = Yes to show only summary info
  
  
• Set Main Line = No (our case) to include all line details
  
  

Add a Date Range

You can define the range by adding dates in the “From” and “To” fields or using advanced options like “This Year” or “Last Fiscal Quarter” from the quick filters.

Step 2: Drill-into Connected Records

Some filters have three dots (…) next to them, which means they allow you to drill into related records.
For example, from a Bill Payment, you can pull in related Purchase Order or Bill information.

Step 3: Customize the Results Tab

Under the Results tab, go to the Columns subtab. Here, you choose the fields you want to see in the search output.

In this example, we’re adding these columns:

• Date
• Paid Transaction (shows the bill being paid)
• Paid Transaction: Created By (shows the related PO)
• Amount Paid
• Document Number
• Payee Name

You can rename column headers using Custom Labels. For example:

Paid Transaction → Bill Number

• Paid Transaction: Created By → PO Number
• Paid Amount → Amount Paid
• Document Number → Check Number
• Name → Payee

Step 4: Use Highlighting and Filters

Highlighting

Use this to make certain records stand out. For instance, you could highlight transactions over $10,000.

Available Filters

Available filters show up at the top of the report when it’s run. You can add filters like Payee Name to quickly narrow down results. Check ‘Show in Filter Region’ to make it visible.

Step 5: Set Audience and Access

In the Audience tab, choose who can view or use this Saved Search:

• Check Public to make it available to all users
• Or restrict it by roles, departments, subsidiaries, etc.
  
  

For this example, we’ll make it Public so everyone has access.

Final Step: Save and Run

Once the above-mentioned steps are adequately fulfilled, click Save and your NetSuite Saved Search is now ready to run and you can now see the results based on your assigned criteria and filters.

The process to create a saved search in NetSuite can be filtered with the following sections:

• TYPE: Enables you to choose the record type or the subtype that you want to create your search around.
• CRITERIA: The record type, specific data ranges, and SQL formulas that narrow down your search to a specific segment.
• RESULTS: It enables users to specify what column headers and row data should be displayed in the search.
• EMPLOYEE TYPE: This filter restricts the changes to be viewed by only the selected audience that is filtered based on the employee’s name, role, department, or group. 

How To Choose The Right Criteria For Your Business

1. Make your search specific with clear and focused filters (example: status = “Fully Billed,” date range, transaction type). This ensures faster results and information based on your desired criteria.
2. Limit columns to Essentials by only incorporating columns that are truly needed. This tip significantly reduces clutter and improves performance
3. Use grouping and aggregation formulas to get a concise overview instead of raw data.
4. Pull in hidden or internal fields via Formula, or calculate derived values using SQL functions for advanced insights.
5. Avoid unneeded connections to keep your report summarized and to the point.
6. Make sure to use clear annotations in the description or header to make it easy for other users to understand what each filter or column does.
7. Use drill-down links to make navigation easy for the users from a summarized or high-level view to detailed information with a single click.
8. NetSuite hyperlink in saved searches enables users to make real-time updates directly from the link without needing to open each record individually.

How NetSuite Saved Searches Solve Common Business Challenges

1. PROCUREMENT: The process is often complicated and labor-intensive. Thankfully, using saved searches within an ERP for procurement, like NetSuite can speed up the procedure, improve data visibility, and improve business operations.

2.     Supplier Performance Management: Saved searches enable monitoring purchase orders from specific vendors over the past years, and can also be used in tracking metrics such as on-time delivery rates and the percentage of defective or returned items

3.     Cost-effective Opportunities: It creates search lists based on purchase orders, unit price, and vendor information of all the items making it easy for procurement managers to pinpoint those specific vendors who have consistently offered competitive pricing and promotes cost-effective sourcing strategies.

4.     Automating Purchase-order Workflows: Build a saved search that identifies all approved purchase orders and enhance its visibility by setting up automated email alerts, ensuring timely follow-ups, and reducing subsequent supply chain delays.

5. Ensuring Optimal Inventory Levels: Create a search that notifies about the items that are below their reorder point, along with corresponding lead times and vendor details. This helps prevent stockouts and improves purchasing accuracy.

6. Automating Financial Control: This enables efficient workflows in key finance areas:

●      Cash Flow Monitoring

●      Cost Management

●      Audit Trail Accuracy

NetSuite Saved Search Function

There are several SQL functions available that users can incorporate to refine their search results. The functions include:

1. Count
2. Min
3. Sum
4. Max
5. Average
6. Group
7. Date
8. Case

Additionally, NetSuite’s saved search allows users to customize formulas using Numeric or Text fields that perform advanced calculations that are not performed through basic SQL functions.

Advanced Technique Of Formula In NetSuite Saved Search

In NetSuite saves search, formula fields can be used go either imit the search results more precisely or to perform operations on them.

Follow the following steps to create a formula in NetSuite saved search:

1. Navigate: Reports > Saved Searches > All Saved Searches and click “Edit” on the desired saved search
2. Click on the “Criteria” tab

1. Add a new filter by opening the drop-down menu and selecting the corresponding Formula option (Date, Numeric, or Text)
2. Write the formula using NetSuite’s formula syntax in the FORMULA box and click “Set”
3. Preview the results to ensure the formula is working correctly
4. Save and run the saved search

How To Copy A Saved Search In NetSuite

Copying a saved search requires the following steps:

1. First, go to “All Saved Searches.”
2. Navigate to the saved search you want to copy and click on its name to open it.
3. Enable the editing mode by clicking on the “Edit” button.
4. Click on the “Save As” button located at the top of the screen. This will open a new window where you can enter a name for the new saved search.
5. Enter a name for the new saved search and click on the “Save” button.

You have now created a copy of the original saved search with a new name. You can then make any necessary modifications to the copy without affecting the original search.

Why DevTeamPro?

As NetSuite ERP Solution Provider, we provide comprehensive documentation of all saved searches and their underlying criteria, filters, and formulas. By tracking the complete history of changes made to saved searches, we allow users to understand its impact on the business operations with clarity. This enables you to understand all the discrepancies and make informed decisions considering all the different insights. Our skilled team with advanced tips and tricks supports streamlined business operations, risk reduction, and effortless compliance across your organization.

FAQs

Q1: Difference between a saved search and a report in NetSuite?

As the blog explains, a saved search is an advanced, customizable tool to manage huge datasets and narrow down the search based on your needs through applying filters, formulas, and setting criteria, offering greater flexibility in workflows.

A report, on the other hand, has a structured format designed for summarizing data and is best suited for formal presentations with little to no flexibility.

NetSuite Suite Analytics connects customers with real-time reporting and actionable business insights. With built-in real-time reporting, key performance indicators (KPIs), and dashboards, SuiteAnalytics in NetSuite enables companies to incorporate operational and financial insights into the company’s performance that will significantly increase business efficiency across all teams and departments.

With NetSuite SuiteAnalytics Workbook, users are efficiently creating datasets and related Workbooks in the system and then visualizing the output in the form of a table, pivot, or chart, making it easier for further analysis and summarization. Workbooks can be easily saved, shared, and reused, with content easily deployed in the NetSuite dashboard.

The blog aims to serve as the NetSuite SuiteAnalytics Workbook guide, highlighting all the key details of this recent enhancement.

How Do I Enable SuiteAnalytics In NetSuite?

Step 1: Enabling the Functionality

Before creating the NetSuite SuiteAnalytics Workbook, you first need to enable the feature, which is done as follows:

Navigate: SETUP > COMPANY > ENABLE FEATURES > ANALYTICS > SELECT “SUITEANALYTICS WORKBOOK NETSUITE” > SAVE

Now that the NetSuite SuiteAnalytics feature is unlocked, you will need to grant access to the end users. This is done by adding the new “ SuiteAnalytics Workbook” permission to the user roles, who will then be able to view the “Analytics” tab in the navigation bar at the top of the screen.

‍Step 2: Creating the First Dataset

Creating a dataset at first is important, as the Workbook must be associated with at least one dataset.

To create a dataset:  Navigate: Analytics > Datasets > New Dataset

Just like a saved search, begin by selecting the record type for which you want to create a dataset. A default dataset will be generated with no pre-set criteria. You will need to define all the criteria and your dataset will be refreshed accordingly. You can further customize by adding a custom formula. Before saving the demonstrations, make sure to “ Validate” the changes to confirm that the output will be accurate just as you want. Once the dataset is fully configured, click “Save” and assign it a clear and descriptive name for easy identification when referenced in the Workbook.

With the dataset ready, you are now all set to create your first Workbook

Step 3: Creating Your First Workbook

To create a Workbook:
Navigate: Analytics > Workbooks > New Workbook

After clicking the “New Workbook,” you will be prompted to select a dataset to connect, which, when selected, will automatically take you to a brand new Workbook with one tab created. You can now create a table, chat, or pivot. It is to keep in mind that you will only have one visualization type per tab, so you cannot display a pivot and a chart on the same tab. However, like an Excel workbook, you are able to add multiple tabs to facilitate different visualizations.

These are all the key steps on how to connect to NetSuite Suite Analytics and manage data from different saved searches/ reports, just by building these Workbooks and having all the data automatically update for you.

‍Why SuiteAnalytics In NetSuite Is Useful For Businesses

NetSuite Suite Analytics Workbook enables users to create customized reports, visualizations, and datasets, and further allows them to interact with data dynamically. Users can easily make use of all sorts of datasets without any technical expertise or additional specialization.

The tool was introduced in response to the limitations imposed on saved searches and standard reports, which traditionally required users to export data for complex analysis. SuiteAnalytics NetSuite effectively eliminates that dependency, delivering multi-dimensional analysis directly within the NetSuite platform.

Additionally, some business-focused benefits are as follows:

1) Sales Performance Analysis
Effectively monitor sales trend across regions, product categories, or customer segments and highlight top-performing sales representatives.

2) Inventory Optimization
Integrate inventory data with sales forecasts to proactively identify potential stock shortages. Apply dynamic filters to focus on critical items or priority locations.

3) Financial Reconciliation
Develop a workbook that aligns general ledger data with bank transactions, simplifying the process of identifying discrepancies without the need to toggle between multiple financial reports.

4) Customer Lifetime Value (CLV)
 Construct a dataset that merges transaction history, customer demographics, and service touchpoints to calculate CLV. Use these insights to inform targeted marketing efforts and improve customer retention strategies.

Some Common Challenges

1. Understanding relationships between datasets: If you are unfamiliar with how NetSuite structures its data, you might struggle to define effective joins. Consult NetSuite ERP solution provider to map out the relationships.
2. Performance with Large Datasets:  Querying a large amount of data might impact performance.  It is advisable to use filters and a summarized field to narrow down the data before visualizing it.
3.  Advanced Formatting Needs: When NetSuite SuiteAnalytics is installed, it supports charts and tables, but some users still require more advanced visualization options and so they can meet with a NetSuite ERP consultant for the best advice.

How Much Does SuiteAnalytics Connect Cost?

Users subscribe to NetSuite for an annual license fee. Your license is made of three components: core platform, optional modules, and the number of users. There is also a one-time NetSuite implementation service Cost for initial setup. As your business grows, you can add new users or subscribe to new modules.

Conclusion

The SuiteAnalytics Workbook NetSuite is a gamechanger for users who extensively rely on saved searches and want to customize the datasets timely manner. Whether you are looking to build a dynamic reporting package or looking to report on some data points, SuiteAnalytics has something extremely efficient to offer to all its users.

This is just one area of the SuiteAnalytics solution NetSuite offers. If you are looking to incorporate other applications, be sure to check out NetSuite SuiteAnalytics Connect. Also, if you’re looking to set up a separate data warehouse for more holistic data, you can contact a SuiteAnalytics NetSuite Consultant for the best consultation.

There are an endless number of product comparisons we could make with all the systems on the market. Even so, a lot of our clients like to limit their options to these two systems Oracle NetSuite with Microsoft Dynamics 365, therefore it’s worth comparing NetSuite ERP vs. Dynamics 365. This cloud-based software comparison examines both systems’ featherweight capability and heavyweight performance in modern business. This post will assist you in deciding which of the platforms, Dynamics 365 vs. NetSuite ERP, is more appropriate for your company. It will also provide you with a summary of simpler product comparisons based on features, implementation, user interface and licensing pricing.

Key Differences Between NetSuite and Dynamics 365 Business Central

People often debate NetSuite ERP vs. Microsoft Dynamics 365 ERP when considering cloud ERP systems for their organizations. These ERP comparison leaders offer unique benefits for different business demands. IT leaders and business owners must compare them to make an informed selection. Micro- to medium-sized organizations can adjust the suite, module by module, to meet their demands, emphasizing rigorous NetSuite vs. Dynamics 365 for financial management.

The Background and Development of Microsoft Dynamics and NetSuite

Both Microsoft Dynamics and NetSuite have carved out distinct niches for themselves in the field of cloud ERP solutions as a result of significant shifts and calculated choices. In addition to providing a timeline of technology developments, this history highlights the special NetSuite features and Microsoft Dynamics advantages that have developed over time.

Journey of NetSuite

NetSuite was the first company to offer cloud computing software in 1998. NetSuite has grown from specialist solutions to comprehensive suites that cover many business functions. NetSuite’s 2016 acquisition by Oracle ERP Cloud vs. NetSuite expanded its visibility and feature set, making it more appealing to a wider range of sectors and organization sizes.

Microsoft Dynamics’ Transition

Dynamics 365’s 2016 debut marked a change from on-premises software to an agile cloud ecosystem. Microsoft’s Dynamics 365 integration of CRM and ERP products showed its commitment to current business solutions that give small and large companies financial management expertise. Because of this, Dynamics 365 has grown swiftly enough to meet modern corporate demands.

Modules and Functionality

NetSuite and Microsoft Dynamics 365, are top-tier for ERP and CRM systems. Although each system has its strengths and drawbacks, both NetSuite and Microsoft Dynamics 365 ERP can manage numerous company functions. Take a closer look at both platforms’ functional capabilities and modules:

NetSuite Functionality:

Oracle’s NetSuite offers a complete cloud-based solution for business management.  ERP excels in finance, inventory, order management, and procurement. Key features and modules:

• The ERP module in NetSuite contains real-time financial management.
• NetSuite CRM includes marketing, sales force, and customer care automation.
• SuiteCommerce from NetSuite includes internet marketing, site content management, customer service, and more.
• PSA: This system manages project planning, resource allocation, timesheets, expenses, and invoicing.
• BI: SuiteAnalytics is a real-time, integrated reporting and analytics module that helps businesses comprehend and optimize complicated data.

Microsoft Dynamics 365 Functionality:

The integrated business solutions of Microsoft Dynamics 365 are for corporate needs. Companies can customize their apps with modularity. Key features and modules:

• ERP: Dynamics 365 Finance and Operations offers a complete ERP. 
• Dynamics 365 Sales, Customer Service, and Field Service enable sales force automation, customer service, and field service management.
• Dynamic 365 Marketing features customer segmentation, campaign management, and performance statistics.
• HR: The HR module manages HR data, benefits, salary, leave & absence, compliance, performance feedback, and employee self-service portals.
• Microsoft Dynamics Power BI, a popular data visualization and reporting application, interfaces with Dynamics 365 and other data sources.
• Dynamics 365 AI forecasts revenue, analyzes customers, and provides customer service insights.
• Industry Needs Dynamics 365 Versus NetSuite ERP

Industry Needs 

Microsoft Dynamics 365 and Oracle ERP NetSuite are adaptable programs that can serves in various sectors. Their modules and features are tailored to meet the demands of distinct industries. This comparison is based on a few typical industries:

Manufacturing

• NetSuite: NetSuite for Manufacturing intended to improve visibility within the company and expedite manufacturing processes. 
• Microsoft Dynamics 365: Manufacturers may innovate and adjust to the supply chain scenario with the help of Dynamics 365 supply chain management. It enables full visibility and control over operations, as well as mixed-mode manufacturing capabilities.

Retail

• NetSuite: A full solution, NetSuite for Retail incorporates back office systems, e-commerce, POS, and order management. One real-time customer view across all touchpoints and channels.
• Microsoft Dynamics 365: Commerce integrates digital, call center, in-store, and back-office operations. It can provide individualized, smooth shopping experiences, manage vast product information, and offer robust e-commerce features.

Services

• NetSuite: NetSuite’s Services Resource Planning (SRP) solution optimizes project success by integrating project management, resource management, project accounting, timesheets, and cost management. 
• Microsoft Dynamics 365: MSPSA supports project planning, resource scheduling, time and cost management, and service analytics.

Healthcare

• NetSuite: Although NetSuite does not include a healthcare module, several healthcare firms have used it for patient data, billing, and inventory management.
• Microsoft Dynamics 365: Individualized patient journeys, patient relationship management, and operational analytics to optimize health operations are available from Microsoft Dynamics 365 for healthcare.

Nonprofit

• NetSuite: The nonprofit suite from NetSuite covers fundraising, grant administration, and FASB reporting.
• Microsoft Dynamics 365: Manage volunteers, plan and deliver programs, and manage constituencies with Microsoft nonprofit accelerators.

User Interface 

The NetSuite User Interface

NetSuite is intuitive and easy to use with top-level navigation.  It uses tabs to let users open many tabs for different purposes.  Multitaskers and fast system users may benefit from these features.  NetSuite’s dashboard can be customized for certain users or positions.  This makes vital data and frequently used processes accessible.  The dashboard may include task lists, charts, real-time reports, and reminders.  The unified design and feel of NetSuite’s user interface reduces the learning curve for new features and modules.

Microsoft Dynamics 365 User Interface 

Microsoft Dynamics 365 includes a modern, user-friendly interface. Due to its connectivity with other Microsoft apps, its interface is familiar to Microsoft users, reducing the learning curve. A collapsible left-hand navigation menu lets Dynamics 365 clients view their workspace in full screen. The dashboard can be modified with chart categories, visual filters, and data cards to briefly summarize key data. Dynamics 365’s UI integrates well with Outlook, Excel, and SharePoint, which is a major benefit. Users can analyze Microsoft Dynamics 365 data in Excel or send emails in Outlook using the interface.

Implementation

Implementing an ERP system like NetSuite or Microsoft Dynamics 365 is more complicated and time-consuming. Company size, requirements, and modules implemented can all affect implementation. Here’s a comparison of the general installation procedures for the two platforms:

NetSuite Implementation Process

• Setting Goals and Objectives: Creating a project strategy and identifying important business processes that will be impacted by the NetSuite implementation service are all part of the planning and discovery phase.
• Design and Configuration: The system is set up to facilitate the specified business operations. This phase could entail modifying forms and fields in addition to configuring roles, permissions, dashboards, and reports.
• Data Migration: Cleaning and preparing data for NetSuite import. Multiple data sources complicate this approach.
• Connectivity: NetSuite has connections to other corporate systems. The SuiteTalk web services API from NetSuite can be used to build bespoke integrations.
• Testing and Validation: Extensive testing is conducted to verify system functionality and to find and fix issues.
• Training and Change Management: We manage the change and train users on the new system.
• Go-live and Support: Following the introduction of the new system, users can get help and resolve any problems with continuing support.

Microsoft Dynamics 365 Implementation Process 

• Planning: As with NetSuite, the implementation process begins with business needs, a project plan, and a strategy.
• Design and Configuration: The system is configured by the needs of the organization. Setting up entities, fields, forms, workflows, and other things falls under this category.
• Data migration into Dynamics 365 requires preparation, cleansing, and import.
• Integration: Dynamics 365 integrates third-party and Microsoft services. Custom integrations can be developed using Microsoft’s Power Platform.
• Testing and Validation: The system undergoes testing to make sure it satisfies business needs and to find any problems.
• Training and Change Management: Users receive training, and change management techniques are put into action.
• Go-live and Support: After the system is put into use, it receives continuous support.

Costing

Depending on the number of users, modules, and particular services selected, NetSuite and Microsoft Dynamics 365 have different pricing structures. Because they are expandable and versatile, the price might vary significantly based on an organization’s unique requirements.

Pricing for NetSuite:

NetSuite’s pricing depends on user count, add-on modules, contract length, and supplementary services.

• Standard license: NetSuite’s standard licence is $999/month.
• User license: The monthly fee for each user starts at about $99 per month. NetSuite offers two user license categories: full users, who are generally managers or supervisors wanting complete access to the system, and limited users, who are commonly employees requiring limited access.
• Advanced features and modules: If you require advanced features or modules, there are additional fees. Depending on the particular feature or module, the NetSuite implementation cost of them can vary significantly.

Pricing of Microsoft Dynamics 365:

Dynamics 365’s modular pricing lets you pay for only the apps you require.

• App licenses: Dynamics 365 Sales Professional costs $20 per person per month.  A sophisticated system like Dynamics 365 Finance might cost $120 per user each month.
• User licenses: Dynamics offers “Team Member” licenses at a discount for simple tasks and “full” licenses for full functionality.
• Microsoft also sells reduced app bundles like the Dynamics 365 Customer Engagement Plan.
• Additional Fees: Like NetSuite, support, training, customization, and deployment may cost extra.

Which Platform is More Scalable: NetSuite ERP or Dynamics 365?

Both products can handle transactional volumes to scale up to even the largest of organizations. But the products have different measures of scalability in other ways – depending on which components of scale are important to your organization. NetSuite ERP vs. Dynamics 365 for small businesses: both scale but serve different needs.  

• NetSuite ERP: NetSuite provides scalability through more standardization since it isn’t as likely to be over-personalized for different parts of a company. NetSuite is ideal for enterprises that need a flexible, cutting-edge ERP system with global support. NetSuite’s robust, all-in-one solution is why complicated businesses and multinational corporations select it.
• Dynamics 365: Particularly Business Central, is ideal for small to medium-sized businesses and Microsoft ecosystem users because of its strong connection. Microsoft Dynamics 365 has a greater breadth of functionality to address more diverse business processes, which may appeal to larger or more complex organizations. Which product is more scalable depends on which aspects of scale are most important to you.

How Do NetSuite ERP And Dynamics 365 Handle Multi-Currency and Multi-Country Operations?

Companies with several subsidiaries or countries need an ERP system that streamlines worldwide operations. NetSuite’s OneWorld solution’s multi-entity and multi-currency interoperability lets firms mix financial data from multiple subsidiaries without customization or tooling. Compared to NetSuite, Dynamics 365’s integrated regulatory compliance tools make foreign standards easier to meet.

However, Dynamics 365 Business Central does not provide financial aggregation across several companies. Each company needs its database, making subsidiary financial management difficult. As organizations expand abroad, this technique may become pricier and more complicated. The integrated multi-entity capability of NetSuite ERP vs. Dynamics 365 is more efficient if you want to develop globally or manage multiple subsidiaries.

How Do the AI and Automation Features of NetSuite ERP Compare to Dynamics 365?

Dynamics 365 Business Central has more features than Dynamics 365 Finance, but not as many. Business Central includes a CRM system with contact management capabilities, along with additional tools for automating the Dynamics 365 for Sales vs. NetSuite ERP force. The solution has project management features as well. NetSuite has a PSA module for project reporting, invoicing, and cost control. Integration is unnecessary because NetSuite ERP connects both modules. Third-party modules used to expand Dynamics 365 Business Central capabilities can dramatically increase the service’s total cost of ownership.

Which Platform Offers Better Tools For Business Process Automation: NetSuite ERP or Dynamics 365?

Many businesses are debating whether to switch from NetSuite or QuickBooks, Microsoft Dynamics GP, or other on-premise systems to either NetSuite or one of Microsoft’s cloud ERP options. The product’s history, current degree of adoption, basic functioning, pricing, and the difficulties of customization and maintenance must all be considered as they balance the risks and benefits of various systems. They should also inquire about the system’s scalability so that it can support the company as it expands. NetSuite is the obvious winner, as many firms will discover after assessing each of those categories.

Which is better, Microsoft Dynamics 365 or NetSuite?

Both Microsoft Dynamics 365 and NetSuite have advantages and disadvantages. As part of our digital transformations, we have advised and assisted customers in implementing both systems, so we are aware of their benefits and drawbacks. The ideal option for your company should ultimately depend on your priorities and ambitions.

Conclusion

The size, sector, and particular requirements of your company will determine which of NetSuite and Dynamics 365 for e-commerce is best for you. NetSuite may be your best option if you require a reliable, simple-to-use solution with excellent e-commerce and finance features. Dynamics 365 might be a better option, though, if you’re a big business seeking sophisticated functionality and a close connection with Microsoft products. For more information on NetSuite and Dynamics 365, or to ask questions, contact one of our advisers. After evaluating your company’s needs, DevTeamPro Netsuite ERP solution provider, will recommend the best course of action for remarkable expansion.

NetSuite is a complex yet highly useful ERP software that works well for all industries, employing a distinctive approach by catering to different businesses with unique service tiers rather than a one-size-fits-all approach. 

Each service tier has its limitations based on the number of users involved and the amount of data to be stored within NetSuite. 

What Are The Tiers of NetSuite Services?

NetSuite service tiers simply refer to the different levels of NetSuite services that are completely based on your requirements, so that you don’t end up paying for the service more than your actual need. It is advisable for the users to understand the NetSuite service tier dashboard as it significantly helps in boosting the business.

NetSuite Service Tier Structure

Understanding the NetSuite service tier that best suits your needs is dependent on:

• Number of users 
• The amount of data that needs to be stored
• Data that needs to be processed

There are four different NetSuite service tiers: 

• Standard
• Premium
• Enterprise
• Ultimate

NetSuite pricing tiers differ for each plan based on the number of users and the required file storage. 

The NetSuite Service Tier Datasheet is as follows, which includes the number of users, file storage, and NetSuite pricing for each tier.

ENTERPRISE

2000

2000

10,000,000

SERVICE TIER	USERS	FILE STORAGE (GB)	MONTHLY TRANSACTION LINES
STANDARD	100	100	200,000
PREMIUM	1000	1000	2000,000
ULTIMATE	4000	4000	50,000,000

Although the datasheet comprehensively explains the factors to be considered and the NetSuite ERP Cost for each service tier, three key factors should be evaluated when deciding on your NetSuite tier of service to assess whether there is a need for an upgrade.

1. Volume of Transactions: It refers to the amount of transactional activity within your NetSuite account. If you find your current tier approaching the maximum limit, a service tier upgrade becomes necessary.
2. Number of Users: Analyze the current number of users using the account, and if the user capacity is approaching the maximum capacity, it is better to consider upgrading the service tier. 
3. Concurrency: Review the level of concurrent users, especially during the peak time. If the level reaches the threshold, then upgrading the service tier can be an effective measure to improve performance. 

Process To Upgrade The Netsuite Service Tier Dashboard 

The NetSuite implementation service immediately starts after the license for the service tier upgrade gets approved. This is further followed by the allocation of all components beginning within 3 days, enabling a quick setup of the upgraded tier. 

The NetSuite Tier of Service may sometimes require necessary maintenance during which upgrading the service tier will be restricted. Additionally, a notification via an IAN message alerts about the maintenance 48 hours before the scheduled maintenance dates.

NetSuite Premium Service Tier

Switching from the standard to the premium service tier not only covers the above-mentioned benefits but has a lot in store for its users to enjoy. 

The upgrade significantly reduces delays caused by high volumes, enhances user experience by providing a swift and quick user experience, and further accommodates a huge number of concurrent users, which increases work efficiency and performance.

What Are The Levels Of NetSuite Severity?

Oracle ERP processes consist of four severity levels with varying impacts on business operations. 

LEVEL 1 (Critical): These incidents severely disrupt business operations that lead to significant data loss, restricted access, and might cause huge financial loss. 

LEVEL 2 (Significant): Under this incident, the service continues to function, but the important components and features become unavailable, disrupting business operations. 

LEVEL 3( Less Significant): Non-critical components become unavailable, which do not cause any severe disruption in the operations and these components are available to tech users of premium service tier. The incident often has alternative solutions.

LEVEL 4(Minimal): These incidents have a minor impact on the business operations, and the features are available to premium customers.

How To Choose Which NetSuite Service Tiers Are Best For Me?

Your business needs a NetSuite Implementation Service that should best align with your business needs and goals and must increase the efficiency of your business operations. For a small or simpler business setup, by understanding the different levels of support available, you can easily identify the service tier that best meets your requirements.

However, if you are still unsure or your business handles complex and advanced operations, we, as one of the leading NetSuite ERP Solution Provider can help you select the right service by carefully analyzing your business needs.

Conclusion

Selecting an appropriate NetSuite service tier is crucial for maximizing performance, efficiency, and cost-effectiveness as your business grows. Each tier- Standard, Premium, Enterprise, and Ultimate is designed to cater to different levels of users. By accurately understanding your current system demands and future scalability goals, you can make an informed decision that will support your business in the long term. 

Frequently Asked Questions

Q1: Difference Between Oracle ERP Cloud Vs NetSuite

Both are cloud-based ERP solutions by Oracle, but fulfill different business needs. Oracle ERP Cloud is designed for large enterprises that mainly focus on in-depth customization and a broad suite of modules that include ERP for procurement, finance, human capital management, and supply chain.

NetSuite offers ERP solutions for small to medium-sized enterprises, offering a unified platform with built-in ERP modules.

Q2: Where Can I Check My Service Upgrade Status?

Move to the “Billing Information Page” (Setup> Company > New Billing Information) 72 hours after the upgrade. 

Q3: How Can We Estimate NetSuite ERP Cost?

NetSuite Pricing is subscription-based and varies depending on the business size, required modules, user count, and the service tier. To estimate the costs, it is important to first identify your business need, select the right service tier, and you can get the cost that optimally fits your need and budget.