Businesses are under increasing pressure to be competitive and foster growth in today's fast-paced business environment. The global ERP software market was valued at $35.81 billion in 2018 and is projected to reach $78.41 billion by 2026, with cloud-based ERP systems being the fastest-growing sector, according to a survey by Allied Market Research. A cloud-based ERP system called NetSuite has seen rapid expansion, with revenue rising by 26% in 2020 compared to the previous year.
Table of Content:
- Financial Management
- Supply chain management
- Top NetSuite Integration Methods
- REST Web Service
- Dell Boomi
- Integration of AI and ML
It is critical to comprehend the typical factors to consider before integration as businesses continue to use NetSuite. The seven key factors covered in this article—integration, support, use, availability, cost, and top integration techniques like RESTlets, SuiteTalk, SuiteScript, and Suitelets— can help businesses make the most of their NetSuite integration.
The integration features of NetSuite go beyond those of a standard ERP system. Businesses may automate repetitive operations, analyze data more effectively, and quickly make data-driven choices by integrating the system with artificial intelligence (AI) and machine learning (ML) technology. IDC predicts that 2023 investment in AI systems will amount to $97.9 billion and that firms will increasingly need to integrate AI and ML with ERP systems to stay competitive.
The ability to integrate is one of NetSuite's key advantages. CRM’s like Salesforce, e-commerce like Magento and Shopify, shipping, and payment platforms are just a few third-party systems and programs that NetSuite can easily collaborate with. Businesses can automate processes, streamline operations, and gain a competitive edge by connecting NetSuite with other systems.
The amount of support offered is a crucial aspect to consider when selecting an ERP system. In addition to online tools, a community forum, and phone and email help, NetSuite provides various support options. Additionally, NetSuite has a sizable network of programmers and implementation partners who can offer additional support and NetSuite customization services.
Businesses may manage their financial and operational activities more effectively with the help of a variety of tools and capabilities offered by NetSuite. These consist of the following:
- Financial Management:Cash management, fixed assets, accounts payable and receivable, general ledger, and accounts payable are just a few of the financial management functions that NetSuite provides.
- Supply chain management: From order management and shipping to inventory management and procurement, NetSuite offers solutions for controlling the whole supply chain.
- eCommerce:Online store design, shopping cart administration, and payment processing are just a few of the e-commerce options NetSuite eCommerce Integration provides.
- CRM: NetSuite has a strong CRM system with features for managing customer data, following up on leads and opportunities, and automating marketing campaigns.
Anywhere with an internet connection can access the cloud-based ERP system NetSuite. It is the perfect answer for companies with numerous sites or remote workers. Users can access essential features and capabilities from their mobile devices via the mobile app that NetSuite also provides.
The cost of implementing NetSuite will depend on the size, complexity, and degree of customization needed for your organization. NetSuite offers various pricing plans to accommodate organizations of various sizes and purposes, from small start-ups to major corporations. Additionally, NetSuite provides a range of customization and integration options, which might raise the overall cost.
Top NetSuite Integration Methods
- RESTlets:A subset of SuiteScript called RESTlets enables programmers to create unique RESTful APIs for NetSuite. Businesses can build unique integrations with other systems and applications using this technique.
- SuiteTalk: SuiteTalk is a web service NetSuite API connection that uses standard web services technology to allow businesses to combine NetSuite with other systems and apps. SuiteTalk is built on SOAP-based web services.
- SuiteScript: A robust scripting language that enables organizations to automate and customize their NetSuite operations is called SuiteScript. Custom user interfaces, reports, and workflows can be produced using this technique.
- Suitelets:Suitelets are web applications that customize forms and interfaces while extending the functionality of the NetSuite user interface. Custom user interfaces and workflows can be made using this technique.
- REST Web Services: REST Web Services are a subset of SuiteTalk that lets organizations use RESTful NetSuite API integration to connect NetSuite to other platforms and programs.
- Celigo: Celigo is a cloud-based integration tool that allows companies to link NetSuite with additional systems and apps without requiring intensive coding or development.
- Dell Boomi: Another cloud-based integration platform that makes it possible for companies to combine NetSuite with AI and ML technologies is Dell Boomi.
Integration of AI and ML
Artificial intelligence (AI) and machine learning (ML) integration with NetSuite can benefit enterprises. Businesses can automate repetitive operations, spot patterns, and trends, and make better decisions using AI and ML.
AI and ML, for instance, can automate manual data input operations like processing invoices and reporting expenses. Businesses may save time and reduce errors by automatically gathering and categorizing data.
Data analysis and pattern recognition are other capabilities of AI and ML. Businesses can use predictive analytics to estimate future trends and find development possibilities in sales and marketing. In addition, AI and ML can be used to optimize business processes and workflows. For example, businesses can use ML algorithms to optimize their supply chain, identifying the most efficient routes and delivery schedules.
With tools like SuiteAnalytics, which delivers sophisticated reporting and analytics capabilities, NetSuite already has AI and ML capabilities. Companies such as Google Cloud AI and Microsoft’s - MS Dynamics can also combine NetSuite with other AI and ML platforms to further improve their capabilities.
NetSuite is a powerful cloud-based ERP solution with a number of features and functionalities to help businesses manage their financial and operational activities more successfully. By integrating NetSuite with other programs and systems, businesses can streamline operations, automate procedures, and gain a competitive advantage. By combining NetSuite with AI and ML technology, businesses may improve decision-making, streamline workflows, and promote growth. If you're considering integrating NetSuite with other systems or AI/ML technologies, consider these seven frequent NetSuite integration aspects to ensure success.
Are you prepared to integrate NetSuite to streamline your company's operations? The team at Need Developers has you covered. Our talented developers have undergone thorough screening and are prepared to assist you in smoothly integrating NetSuite into your company.
Sandeep Palod is a President at Navigator Software Pvt. Ltd. (Navsoft) With over 20+ years of experience in Information technology and service-based industries as a thought leader and speaker on all topics Artificial Intelligence (AI), Internet of Things (IoT), Automations, DevOps, AWS, he is passionate about bringing disruptive topics to research and development on current software service industry scenarios.