Netsuite for Wholesale and Distribution Industries
“NetSuite helps in automating and streamlining the process for developing new products while growing up.”
The Wholesale Distribution business has had a challenging environment in the recent years and they decide the optimistic prospects in the near future. Most of the organizations expect their business to improve or atleast remain steady. As a strategy this business is focused on having a balance between the revenue growth and the cost savings. NetSuite is the best approach for this. It also helps in increasing the efficiency of the organization, streamline the processes and cut the IT and operational costs. It also helps in driving the inventory towards different channels. NetSuite used for the wholesale distribution industry combines with the customer facing sales force automation, marketing and service processes with the back office inventory management, fulfilling and an accounting system embedded all in one. Being a cloud-based application it helps in lowering the TCO by eliminating the on-premise server cost, license fees and site IT support and all this comes in with some rapid implementation and a quick ROI.
With the NetSuite edition of Wholesale/Distribution, one can give the companies customer facing sales force automation. This would include various processes like quotes and orders-marketing and customer services that are linked seamlessly with the back-office inventory management. They are used for fulfilling the accounting activities all within a single and flexible business application. For implementing this NetSuite leveraged to almost over 800 distributor customers and complemented some of the best services. With this software of NetSuite one can grow its business and provide the new services with an increase in the customer service levels and cutting the costs. A survey conducted by NetSuite says that 81% of the wholesale distribution leaders identified a growth in their revenue.
Here are some of the features for which NetSuite is being used for this industry:
1. One system includes a complete distribution lifecycle management
NetSuite helps in managing the end-to-end system all in one system. Right from marketing to the payment procedure all is done in this system.
2. A single view of the customer across the business
There is one single integrated system for all which is in real-time view of the customer across all departments and locations.
3. Subscription model license, maintenance, upgrades
It is an on demand model that provides an extended IT department while lowering the cost while providing access anytime and anywhere. It would be having the latest software, automation by which anything will work, your personal enhancements, configurations, eliminating a potential repeated expenditure. Doing it once is enough.
4. NetSuite is one of the most configurable and customizable on-demand business management solution
Netsuite allows customers to configure the system to meet the company profile without the costly IT and developer overhead. If there are more needs or requirements they are easily modified via the Suiteflex.
5. Trading Partner Collaborations
The trading partner processes extend their self service via the partner and the customer portals.
6. Easy for using
The NetSuite “assistants” will make and manage the business environment and make it easier. The initial setup, data import, setting the web store and site, managing the ecommerce content and managing the matrix items, quote farms will be done by the assistants.
Some of the benefits that NetSuite would render to the wholesale and distribution industry are:
1. Growth, flexibility and an improvement in sales.
One of the most consistent benefits that the wholesale industry has is the ability to sustain or grow the business due to the efficiency that one can gain from the process automation. It also helps the customers for developing some new sales channels or product lines. A new growth can be seen sometimes even in a triple digit.
2. Saving the IT cost
This industry tried searching a lot of options but the best fit is that of NetSuite. It is the most cost-effective and scalable solution. The other reason is that its implementation is quite fast, elimination of the need and backup and security, will reduce the internal IT and it will grow with your business.
3. Improving the inventory management
The customers who use this system have reported that the carrying cost of 15% to 30% is like the inventory replenishment, tracking the serial and lot number, bin management, demand some planning and some other capabilities. It is a real-time visibility in the stock which reduces the write-offs.
4. Increasing the margins
It helps in increasing the visibility into pricing, availability and this demand allows the NetSuite customer to actively manage the margins, both in the purchase negotiations and sales. This business will truly know the COGS and it can quickly make the adjustments in price by the products or the class to be competitive.
5. Saving the shipping
NetSuite helps in integrating the shipping and fulfilling the order in order to manage the multiple channels and the shipping requirements. Most of companies are able to provide some faster and accurate quotes on shipping and they can identify and even correct some of the shipping processes which are unprofitable.
6. Improving the customer services
The customer service teams in the organizations mostly use the NetSuite for providing the customers with some up to date information on the availability, pricing and shipping of inventory. Most of the businesses can also give their customers a log in for their orders and tracking information, printing the statements, making payments and helps in doing many more things.
7. Providing a better reporting and easier audit system
The organizations that use NetSuite spend less time gathering in gathering and analyzing and also gain some greater visibility into the business with a centralized data store help in pre-building reports and dashboards. NetSuite also helps in the financial processes and will reduce the cost and time during the final audit.
An Ultimate Dashboard
All the employees of the company get access to a dashboard where everything is seen and monitored easily. It’s like information at your fingertips.
1. Key Performance Indicators (KPI)
They are a tailorable period of comparisons and the out-of-tolerance notifications, it will give a real-time view and at a glance view of the company’s performance.
2. Real time visibility
There is a real time visibility in your business like quotations, orders/support issues that have time sensitivity.
3. Saved searches speed repeat, personalized reporting
The saved searches will help in giving the users a rapid, repeatable adhoc reports on the dashboard itself.
4. Direct drill-down to detail and transactions
You can directly manage the transactions and drill it down greater from the dashboard itself.
5. Group calendaring
These calendars are used for individual and group scheduling. We can view the schedules and invite them for meetings, assign tasks and know the availability without exiting the program.
6. RSS content for your role and industry
One can see the news bulletins and can have a direct access to the content feeds on the dashboard from outside on the user’s choice.
Why should you collaborate with Inspirria Cloudtech?
We at Inspirria Cloudtech, adhere to NetSuite’s proven NetSuite One methodology. There are a myriad of reasons why you should partner with us. We have listed down a few key reasons like:
- 1. We initiate as we understand all your objectives and deliver the functional scope
- 2. We analyze your business needs and develop a project work-plan according to that
- 3. We design with the help of Customization Solution Design & Integration Design as NetSuite addresses your business needs
- 4. We configure the NetSuite’s solution in a way that it adapts to your business
- 5. We validate the solution so that it is deployed easily
- 6. We deploy the solution and your business is now powered with NetSuite
- 7. We optimize, learn from the solution and move to the NetSuite support.
Do you have a wholesale or distribution business and looking for a NetSuite Solution? We at Inspirria Cloudtech, are here to help you. You can take us as your secured cloud provider partner and NetSuite solutions with decade plus of experience working with 400+ Cloud projects. Push productivity to its optimum level with proven solutions, which is used by the best companies all over the world.