The automotive trade industry embraces E-commerce

Like any other industry over the years, the automotive trade industry has been changing its nature. It is slowly embracing e-commerce, just for the smooth transaction of business. This is driven by the growing needs of customers and changing preferences. The need of today’s market is growing, customers expect you to understand their needs without them expressing them. Businesses have to be smart enough to re-engineer their roles according to the growing needs of customers. Some reasons why customers prefer e-commerce

  • Customers are increasingly turning to online shopping due to its convenience and wider product choices. One doesn’t need to visit physical shops to browse choices and choose among them.
  • E-commerce allows customers to compare prices, browse products, and make purchases from the comfort of their own homes, making it an attractive option for time-pressed customers. They can make more calculative decisions with the help of trends the company is following.
  • Additionally, the pandemic has accelerated the shift towards e-commerce, as more people stayed home and avoided physical stores, making online shopping a safer and more practical option. People today are fulfilled with many choices so it is very necessary for businesses to be able to impress their customers.

Automotive companies, including car manufacturers, dealerships, and auto parts stores, have invested in their e-commerce capabilities, building online storefronts and expanding their online product offerings. Traditional auto parts stores that have physical locations are also incorporating online stores. New online marketplaces and platforms have emerged, catering specifically to the automotive industry, and providing an alternative sales channel for auto parts and accessories. Like any other industry embracing e-commerce is generating lots of benefits for businesses.

Embracing e-commerce has several benefits for the automotive trade industry.

  • Firstly, it provides customer convenience, as customers can compare prices, browse products, and make purchases from the comfort of their own homes. They don’t need to limit themselves due to geographical regions.
  • Secondly, it enables automotive companies to reach customers beyond their physical locations, expanding their potential customer base and reaching customers who may not have been able to access their products or services otherwise. It is also beneficial for companies as the number of targeted customers also increases.
  • Thirdly, e-commerce provides an opportunity to create a seamless and user-friendly experience for customers, with online ordering, fast shipping, and hassle-free returns. 
  • Fourthly, e-commerce can be more cost-effective than traditional retail, as it requires fewer overhead costs, such as rent and utilities, and allows companies to streamline their operations and reduce labor costs. 
  • Finally, embracing e-commerce enables automotive companies to adapt to changing consumer behavior and meet customer demands in an increasingly digital age.

automotive industry

Implementing e-commerce with an ERP (Enterprise Resource Planning) system can bring several benefits to the automotive trade industry. An ERP system is a software solution that integrates and manages all the different processes and functions within a business, including sales, inventory management, accounting, and customer relationship management. By combining e-commerce with an ERP system, companies can streamline operations, provide real-time visibility, enable personalized customer experiences, improve data accuracy, and enhance decision-making. Furthermore, by integrating e-commerce with an ERP system, data can be entered once and shared across the organization, reducing errors and improving data accuracy. Integration of business management software in this field can enhance decision-making by providing real-time data and analytics, enabling companies to make more informed decisions and react quickly to changing market conditions

To embrace e-commerce with the help of an ERP system, companies must first integrate the two systems. This involves setting up data connections between the ERP software and the e-commerce platform, ensuring that all relevant data, such as customer information, inventory levels, and order details, are shared between the two systems in real-time. Once the integration is complete, companies can streamline order management by automating the entire order process, from order receipt to shipment. This includes automated order processing, inventory management, order tracking, and shipping notifications. Also, the usage of NetSuite CRM (Customer Relationship Management) software can help businesses in providing the customer with the best services ultimately enhancing customer loyalty. 

An ERP system can help automotive companies provide better customer service by providing a complete view of customer information, including purchase history, order status, and customer preferences. This can help customer service representatives provide more personalized support and targeted marketing campaigns. With e-commerce integrated into an ERP system, data is centralized, making it easier to manage and analyze. This can help companies gain a better understanding of their customers and make more informed decisions. Finally, an ERP system such as NetSuite can help automotive companies optimize their supply chain management by providing real-time visibility into inventory levels, production schedules, and delivery status. This can help companies better manage their inventory, reduce costs, and improve delivery times.

In conclusion, the automotive trade industry has been slowly adopting e-commerce over the years. The growing needs of customers and changing preferences are some of the reasons for this shift. E-commerce provides several benefits for the automotive trade industry, including customer convenience, wider reach, improved customer experience, cost savings, and adaptation to changing consumer behaviour. Overall, e-commerce ERP can play a critical role in improving a company’s supply chain management by providing a centralized platform for managing key processes, enhancing visibility and coordination, streamlining processes, and providing powerful data analytics tools. Digital transformation can help companies improve their operations, increase efficiency, reduce costs, and provide a better customer experience. This not only helps the business to perform better but also helps the business to stand out. The need of today’s market is growing, customers expect you to understand their needs without them expressing them. Businesses have to be smart enough to re-engineer their roles according to the growing needs of customers.

 

    When it comes to selecting the best ERP (Enterprise Resource Planning) solution for startups, several factors need to be considered. Startups typically have unique requirements and limited resources, so the chosen ERP solution should be cost-effective, scalable, and user-friendly. Here are six paragraphs discussing some of the best ERP solutions for startups:

    Odoo: Odoo is a popular open-source ERP solution known for its flexibility and affordability, making it an excellent choice for startups. It offers a wide range of modules, including CRM, sales, inventory management, accounting, and project management. Odoo can be easily customized to meet specific business needs and integrates seamlessly with various third-party applications. Its user-friendly interface and intuitive design make it easy for startups to adapt and learn quickly.

    Zoho ERP: Zoho ERP is a cloud-based solution designed specifically for small and medium-sized businesses, including startups. It provides a comprehensive suite of applications, including finance, inventory management, procurement, and HR, all within a single integrated platform. Zoho ERP offers scalability, affordability, and easy customization options. Startups can benefit from its intuitive interface, extensive features, and the ability to add modules as their business grows.

    Oracle NetSuite vs SAP

    NetSuite: NetSuite is a robust cloud-based ERP solution suitable for startups aiming for rapid growth. It provides a complete suite of applications, including finance, inventory management, CRM, e-commerce, and more. NetSuite’s scalability and flexibility allow startups to easily adapt and expand as their business evolves. Although it tends to be more expensive compared to other options, NetSuite offers advanced functionality, seamless integrations, and excellent customer support.

    SAP Business One: SAP Business One is a comprehensive ERP solution designed for small and mid-sized businesses, including startups. It offers a broad range of features such as finance, sales, inventory, manufacturing, and CRM, all in a user-friendly interface. SAP Business One is highly customizable and can be tailored to suit specific industry requirements. While it may be relatively more expensive, its robust capabilities, scalability, and reliable support make it a suitable choice for startups planning for long-term growth.

    Microsoft Dynamics 365 Business Central: Microsoft Dynamics 365 Business Central is a cloud-based ERP solution ideal for startups that utilize Microsoft tools and technologies. It integrates seamlessly with other Microsoft applications such as Office 365 and provides comprehensive features for finance, supply chain management, sales, and customer service. Business Central is known for its user-friendly interface, scalability, and flexible licensing options, making it a cost-effective choice for startups.

    Sage Intacct: Sage Intacct is a cloud-based ERP solution designed for growing businesses, including startups. It offers robust financial management features, including accounting, budgeting, cash management, and reporting. Sage Intacct’s scalability and flexibility enable startups to add modules and functionalities as needed. It also integrates with other third-party applications, allowing for streamlined operations and data synchronization.

    In conclusion, selecting the best ERP solution for startups requires careful consideration of their unique requirements, scalability, affordability, and ease of use. Odoo, Zoho ERP, NetSuite, SAP Business One, Microsoft Dynamics 365 Business Central, and Sage Intacct are among the top ERP solutions suitable for startups. Each of these solutions offers different strengths, so it is crucial for startups to evaluate their specific needs and goals before making a decision.

    Comprehensive ERP Solution:

    Oracle NetSuite provides a fully integrated and comprehensive ERP solution, encompassing financial management, supply chain management, inventory management, order management, CRM, e-commerce, and more. This consolidation of core business functions within a single platform eliminates the need for disparate systems and enhances overall efficiency.

    Cloud-Based Accessibility: 

    Being a cloud-based solution, Oracle NetSuite offers real-time access to critical business information from anywhere, at any time. This enables organizations to make informed decisions quickly and collaborate seamlessly across multiple locations, promoting agility and flexibility.

    Scalability and Adaptability: 

    Oracle NetSuite is highly scalable, making it suitable for organizations of all sizes, from small businesses to large enterprises. It can accommodate growing business needs and evolving complexities, ensuring that the system can scale alongside the organization.

    Customization and Flexibility: 

    Oracle NetSuite provides extensive customization capabilities, allowing businesses to tailor the system to their unique requirements. Customizations can be made without compromising the system’s upgradeability, ensuring that organizations can adapt the solution to their specific workflows and processes.

     oracle netsuite benefits

    Improved Efficiency and Productivity: 

    Oracle NetSuite automates manual and repetitive tasks, reducing human error and improving overall efficiency. Streamlined workflows, automated processes, and real-time data visibility enable employees to focus on value-added activities, enhancing productivity across departments.

    Enhanced Financial Management: 

    Oracle NetSuite’s financial management capabilities provide organizations with comprehensive visibility into their financial operations. It enables accurate financial planning, budgeting, and forecasting, as well as facilitates efficient financial reporting, compliance, and audit processes.

    Integrated CRM and Sales Management: 

    With built-in CRM functionality, Oracle NetSuite empowers organizations to effectively manage customer relationships, sales pipelines, and customer service processes. The integrated CRM allows for better customer engagement, improved sales forecasting, and enhanced customer satisfaction.

    A successful Oracle NetSuite implementation can be recognized by several key indicators:

    Seamless Integration: 

    A successful implementation ensures the smooth integration of Oracle NetSuite with existing systems and applications within the organization. Data flows seamlessly between different departments, eliminating data silos and enhancing overall operational efficiency.

    Customized to Business Needs: 

    The implemented Oracle NetSuite solution is tailored to the specific requirements of the organization. Customizations and configurations are implemented to align the system with the unique processes and workflows of the business, allowing for optimized operations.

    Efficient Data Migration: 

    Data from legacy systems is migrated accurately and efficiently into Oracle NetSuite. The implementation team ensures data integrity, cleansing and validating the data, and mapping it to the appropriate fields within NetSuite. This results in a clean and reliable database for the organization to work with.

    User Adoption and Training: 

    Successful implementations prioritize user adoption and provide comprehensive training to end-users. Employees are educated on how to effectively utilize the features and functionalities of Oracle NetSuite, ensuring a high level of user engagement and proficiency.

    Smooth Workflow and Processes: 

    Oracle NetSuite implementation streamlines and enhances existing workflows and processes. It eliminates redundant and manual tasks, automates processes where possible, and improves overall efficiency across departments.

    oracle netsuite for fintech

    Real-Time Reporting and Analytics: 

    A successful implementation enables organizations to leverage the reporting and analytics capabilities of Oracle NetSuite. Users can generate real-time reports, access key performance indicators, and gain actionable insights into their operations. This empowers informed decision-making and enables proactive management of the business.

    Scalability and Future-Readiness: 

    A successful implementation considers the organization’s future growth and scalability. Oracle NetSuite is configured to accommodate business expansion, handle increased transaction volumes, and support the evolving needs of the organization over time.

    Ongoing Support and Maintenance: 

    Post-implementation, successful Oracle NetSuite implementations ensure that the organization has access to ongoing support and maintenance services. This includes timely system updates, bug fixes, and technical assistance to address any issues or challenges that may arise.

    Enhanced Customer Experience: 

    A successful implementation of Oracle NetSuite can lead to an improved customer experience. With streamlined processes, accurate order management, and efficient customer service capabilities, organizations can deliver exceptional service and satisfaction to their customers.

    Return on Investment (ROI): 

    Ultimately, a successful Oracle NetSuite implementation should deliver a significant return on investment. The implemented solution should result in cost savings, improved operational efficiency, increased revenue, and overall business growth.

    While the specific goals and benchmarks of success may vary from one organization to another, these indicators provide a general overview of what a successful Oracle NetSuite implementation looks like. It is important to align the implementation process with the organization’s unique needs, goals, and industry requirements to achieve the desired outcomes.

    While choosing any software, whether it’s for personal use or for business purpose, the first and foremost thing that a customer looks into is the amount of protection it can provide to the user’s data. Whether the data and information will be safe or not? Will the data be accessible by an outsider? Or what if someone tries to hack the data?

    These are some common questions that arise in a customer’s mind. Here at NetSuite, we know that we are a part of the core business system, and taking a security risk is not why the consumer chooses us. NetSuite has a series of security systems that block any unauthorized or unusual connection that might hamper the secrecy or confidentiality of the user’s data. It also gives the user the confidence to get access to their data and information from any part of the world as its strong encryption, and high-tech password policies don’t allow any outsider to get into your system. Not just this, but the advanced and experienced security team that monitors your data twenty-four/ seven so that you don’t have to worry about it. 

    Even in a giant structure with a larger number of employees, NetSuite has the feature of providing access to data and permissions without hampering the data security. 

     

    Some prominent features are as follows:

    • Define the access of data: In this feature, the data will only be accessible to those employees who are assigned with the responsibilities. Let’s say, an employee in the accounts department will only be able to access the data that is to be accessed by the accounts department. 
     
    • Detection of idle connection: This feature is a special feature in which the application gets automatically locked whenever no movement or work is detected. This makes sure that there is no unauthorised access of data.
     
    • Track and trail during audit: In this feature there is a complete trial of all the transactions and movements in data. Each and every transaction is tracked providing information of the user login details with the exact time at which the transaction was performed. 
     
    • Limited IP address access: In this feature, the user can restrict the usage of NetSuite application to a pre-defined and limited number of IP addresses. This makes sure that no unidentified or unauthorised user gets access to the data and information. 
     
    • Unbeatable Password Policies: NetSuite provided the user with a password configuration option that new password varies from the old ones. Also, the account gets locked after a number of unsuccessful attempts to login. 

    These are some of the prominent features among other features that NetSuite has for its user’s operational security. These features ensure that the users’ data and information are safe and secure, and no unauthorized or unwanted IP addresses try to lure the sensitive data of the users.

    “Great ideas come from everywhere if you just listen and look for them. You never know who’s going to have a great idea.”

    We have heard it many times that for making a business/company a huge success, a great idea is very important. But how can you get that great idea that can take you to heights? Or will that idea be important enough for others to convert your idea into a successful business.

    But have you ever noticed that one single thing that all legendary companies have in common? Their idea is unique and original, which makes them stand out in the crowd. And this uniqueness attracts consumers to buy products/services from them. 

    They just don’t make products or services to sell you, rather they keep improving their own products/services in order to give the customers a better experience every time they use them. They keep upgrading continuously. They improve so much that their own products become their competition on a positive side. 

    But most of the new entrepreneurs fail to understand that just having a great idea and a unique product isn’t enough. Just launching the product and expecting that the sales will boom automatically, once the customer gets to know your product is just a myth. And this is the reason that businesses lag to compete in this evolving market, where each day you wake up to a new competition. Most businesses even fail to survive their first year in business as what they expected was completely different from what actually happened.

     

    Here are some points that most businesses think about.

    • Designing a product that they think will have a great demand
    • Designing a business module that effectively delivers the product

    What their business fails to understand is that not everyone will get what you have designed, say if it’s a product or service. The product/ service you think will have a massive importance to the customer might not be of use to some. And not every product or service can stand out and speak for itself. Just launching the product and sitting back to get huge orders might work, but most of the time, it doesn’t.

     

    Talking about legendary companies, the approach that they use is something called category design. So, what exactly is category designing? It means to create your own category that stands out in the market, which is based on a problem of which your product or service is the solution. The idea is to create a space that is monopolised way before the competition can enter your niche. 

     

    Companies that used category design and conquered the entire market space

    • Just take an example of Myntra, an Indian fashion e-market that has become one of the biggest companies in the country today. We Indians have a stereotype of buying goods, especially clothes and other fashion items from stores so that we can get assurance about size and quality. But, Myntra created its own category and changed the minds of Indians, and made them switch from in-store shopping to buying clothes online. Earlier online shopping was considered a scam or people just hesitated because they didn’t know what would get delivered, or will the order get delivered or not.

    With the advancement of science and technology, we all can see more machines and technologies being used in workplaces. One of the most common things that we have been hearing is that machines will soon replace humans at work. The reason being that these intelligent machines, also known as bots, are more efficient than humans. It can work longer than human beings, making less mistakes and is cheaper to the employer in a long interval.

    But the difference between humans and bots is intelligence and artificial intelligence (AI). Bots can only do a task which is repetitive in nature and lacks any kind of creative or analytical observations/skills. But humans have the ability to solve larger and complex problems, that involves critical thinking, creativity and might be new to the organization. So, there is no need to worry because the future organizations will need both humans and bots. Humans are irreplaceable.

    The idea behind using a bot is to give humans a wider scope of working that requires demand creation, critical analysis and creativity. With the help of bots, the companies can push the human employees to make decisions that help in business growth and don’t have to indulge in tasks that include calculations and repetitive work.

    Here are some points you should consider before introducing a bot as your new employee.

    • Will bots really help in growing your business?

    There is a wide misconception that bots can replace entire human beings at work and will perform more effectively. Employers want to automate much part of their businesses by using bots to take care of those work that requires repetitive actions. 

    But there are some businesses or some parts of them that will always need humans. Those businesses that work on creativity and critical thinking. Those works that humans can do can’t be replaced with bots, as it won’t be pre-functioned according to the uncertain challenges that can occur during the course of business.

    • What tasks will you assign to bots?

    Any work that needs creativity can’t be bound with the rules and regulations that restrict the idea of work. And these skills and knowledge can’t be developed overnight. It requires years of experience and understanding, that humans grow over the course of work. So only the tasks that can be bound with rules and have a fixed or pre-defined approach can be assigned to the bot. Let’s take an example of a manufacturing unit of noodles. The sack of wheat flour needs to be lifted and then emptied in the machine.

    So, this is repetitive work and doesn’t require any creativity as the steps are pre-defined. If a bot is given this task, then it will surely be beneficial for the manufacturing unit as it will be more efficient, fast, and won’t get tired.

    One of the most difficult, time consuming and complex tasks for a product-based business is to manage the supply chain. Handling all the products with the correct number of stocks in each store across different stores, cities, states or countries for a multinational business can be a challenging task. But with the advancement of technology, these difficulties can be overcome. For mastering supply chain in a product-based business, it requires an unbreakable linkage between forecasting the demand of products, planning the orders for various locations and perfect executions of all the deliveries to the customer. If this link can be successfully maintained, then it can help the business to reduce a number of last-minute costs that arise due to unattended arrangements. Oracle NetSuite is such an example of an excellence of technology that has been helping businesses eliminate such difficulties. But the question is how? So, as we all know, the first and foremost step for bringing a product-based business into function is to plan and forecast the supply chain for a time span of 6-12 upcoming months.
    • Can you know the estimated demand?NetSuite Planning and Budgeting module is based on such a concept that enables its users to estimate a forecast of the demand of goods using various dimensions such as historic orders, specific customer behaviour, supply channels and others. The forecast made by various departments of the organisation can be clubbed into one single master forecast that can be used to formulate a collaborated forecast.The forecasting that has been completed, now becomes the base for the supply chain. The business now puts its focus on making sure that all products are in the right place, in the right quantity and at the right time so that the demand of customers is met.
     
    • How will forecasting demand help in Omnichannel Commerce Success?Once the demand forecasting is done, Oracle NetSuite’s supply planning engine comes into action. It breaks down the data and estimates the demand of each product for each month. This will help the company to determine the expected time, during which a particular warehouse/store in which location will run out of which inventory. This will help the inventory team to relocate the supplies in different locations or readjust purchase order keeping in mind the stockout dates.Not only this, the planning engine also has the ability to optimise the timing involved in the process of supply planning. It can calculate the time involved in purchasing of raw materials, manufacturing, packaging and transferring of stocks to various locations. This will help in calculating the ideal time for a store/location to place purchase orders.
    • Smarter approach = Better customer experienceOracle NetSuite’s Advanced Order Management tool can be the ultimate approach for all your online/offline orders. This system provides the user to automatically choose the nearest facility from the final destination of delivery based on zip codes or distance. This will help in reducing the transportation cost from a farther facility. Not just this, the system also gives an option to decide the delivery range of a particular facility.Let’s say, if a facilities’ range is decided for 50 kms in the east only, then the deliveries in the north/south or west won’t be assigned to the facility.
    . Taken together, all these capabilities of Oracle NetSuite can help business leaders to make big decisions, with full confidence as they have a strong support of data and planning with them. It surely helps in maintaining an effective business module, as the complete business is managed under one single software.The past 2 years, the world has witnessed some of the events that we all wish never happened. We all have faced the deadly global pandemic, Covid 19 where a large number of families lost their loved ones world-wide. Countries globally saw a major dip in their economies leading to fall in the GDP (Gross Domestic Product). Then the war between Ukraine and Russia kept the world on its toes. These all incidents had a major effect on the businesses. The companies faced acute problems of shortage of workers and had a major disturbance in managing the supply chain effectively. But the leaders were in hope of restoration of the supply chain and to provide customers with the best shopping experience. The only thing that could help these organisations to stand up tall again was technology. This process includes the evaluation of the insights, provided by the help of technology, in order to make new and effective plans regarding the same. NetSuite Release 2 isn’t just any inventory recording software. It is the one-stop solution for making a businesses’ supply chain smooth and hassle free. The features help the user in anticipating demands and stockout dates which ultimately disables untimely shortages or late delivery of goods. This can help the business in reducing the cost that the company has to be bear due to last moment changes due to unattended arrangements.
    • What if the business has multiple warehouses?It is very hard for a multinational business to manage all the products with the correct number of stocks in each store across different stores, cities, states or countries. This can be a tedious, time-consuming task which also requires a huge amount of capital. The Oracle NetSuite has the ability to estimate forecasts of the demand of goods using various dimensions that various departments of the organisation can be clubbed into one single master forecast and use to formulate a plan for an effective supply chain.Oracle NetSuite then breaks down the data and estimates the demand of each product for each month. This means that the user can now determine the expected time, during which a particular warehouse/store in which location will run out of which inventory. This will ultimately help the inventory team to relocate the supplies in different locations. The team can readjust purchase order keeping in mind the stockout dates.
     
    • Will it help the warehouse workers in becoming efficient?Oracle NetSuite can help the warehouse workers in becoming efficient. The software helps in estimating the stock out dates of the goods that the warehouse has. It can also optimize the timing involved in the process of supply planning. So now the worker can have estimated time involved in purchasing of raw materials, manufacturing, packaging and transferring of stocks to various locations. This will help in calculating the ideal time for a store/location to place purchase orders.
    • What if the order is assigned to a warehouse far from the delivery location?The Oracle NetSuite is designed in such a way that it assigns the order to the warehouse in which the stock is available and is nearest to the delivery location. This system provides the user to automatically choose the nearest facility from the final destination of delivery based on zip codes or distance. The advantage of this feature is that it will help the business in reducing the excess cost of transportation that might have to be paid in case the order was assigned to a farther warehouse facility.
    • What if the business wants a warehouse to take orders for a specific location?Oracle NetSuite allows the user to set filters for the warehouses based on their choice of taking orders from specific locations. The user can select the specified location or range in which he/she wants the warehouse to get assigned with orders.Let’s say, the user wants warehouse A to deliver orders only up-to 40 kms. Then any order that doesn’t come under the radius of 40 kms to warehouse A won’t get assigned to it. This is generally done in case the warehouses have goods that can be fragile and requires utmost care while delivering.
    • What if the business involves assembling goods to make a final product?It can be a very hectic task for a business to efficiently manage its stock if it requires a number of raw materials from different warehouses to assemble together for a final product. But the NetSuite Oracle has also found a solution for this problem. The employee can now enter the total number of packages which a warehouse facility is assigned. Then once the employee has finished with the assembling part, they can return the unused inventory back with just some clicks.
    Last but not the least, NetSuite Oracle can be the perfect match for solving all your businesses’ warehouse problems and can help in managing an effective supply chain.Every business has a vision to grow and operate in various countries, cities or states. And just the vision isn’t sufficient, a strong back-end data management and various other aspects such as sales management, accounting data and information, customer support and management, marketing, etc should have a strong base. But can a software help in covering so many important aspects? The answer is Oracle NetSuite. The world’s No. 1 cloud-based ERP (Enterprise Resource Planning) system, which helps a business in building a strong business by means of managing each and every aspect of it. It acts as a one stop solution for business that integrates all the major departments such as sales, accounting, marketing, customer management, etc. so that the top-tier of the organization can focus on other important aspects. Some of the advantages of NetSuite CRM in your business are as follows:
    • With big businesses, comes big problemsWhen a business grows and starts operations in more than one place/store/city or country, the most difficult thing is to manage the inventory. Different store in different locations have different demand of various products. And it becomes really hard to manage which product is required in which store. But Oracle NetSuite helps the business in bringing the inventory management system under one roof so that it would be easy for the business to identify which store is running out of which item.
    • Making E-commerce easyThe businesses that have major of its operations from e-commerce, they would surely relate delivery. Many times, the stock which is listed in the website is either actually unavailable or is in excess. So, what Oracle NetSuite does is integrate the data, and when the order is received, it assigns the store that is nearest to the customer where the stock is available. This helps in reducing the unnecessary and brings effectiveness in the business system.
    • Accurate Accounts= Accurate decisionson how properly its accounts are being managed. If the accounts show correct data, then the decisions taken by the top-level management is likely to give a favorable result. As the Oracle NetSuite integrates almost all departments together, it helps in maintaining an effective accounting standard, as the complete business is managed under one single software. This helps in reducing the errors that can be due to lack of understanding the software as the complete organization is run by it.
    • Manual V/S AutomationThe growth of business affects various strategies that it has been using or will be using in the upcoming future. When the roots of a business grow and cover more than just one place/city or a country, automation becomes the primary subject for each of its business aspects. The reason being that humans can work and keep records up to an extent only, but automation increases the boundary and helps the business grow. Oracle NetSuite automates a major part of the business that helps it in focusing on other important aspects of business development.
    The fact that Oracle NetSuite is so popular is the reason for its effectiveness in helping businesses manage their various back-office functions with the help of integrated applications. A business requires a lot of data from various departments including manufacturing, sales, marketing, customer management, customer service and so on. NetSuite acts as a single umbrella that gives shade to all these requirements of a business so that it reduces the cost and increases efficiency in the long term. Being considered as the world’s No. 1 cloud-based ERP (Enterprise Resource Planning) system, here’s what your business can achieve using it:
    1. Easy access increases effectivenessWith the increase in expansion of the business horizon, the workload of all aspects of business-like sales, marketing, customer service also increases. This ultimately increases use of different software which becomes hectic for the employees. NetSuite allows users from all departments to get access to one common dashboard and can check the reports in real-time with just a click of mouse. The users get the benefit of accessing data which is relevant to them, which increases effectiveness in the organization.
     
    1. Unlimited needs but a single solutionThe Oracle NetSuite is the one stop solution for various needs that one or many businesses have around the globe. The expansion in business also increases various systems that might be different as per the location of business. So, in order to cope up with that problem, NetSuite is designed in such a way that it supports multiple currencies, tax regimes, tax rates, language and time zones that benefits the companies to get access to the international market with well-managed business processes.
    2. One stop solution for organization’s security worriesAs the Oracle NetSuite brings all the departments together under an integrated system of business management, it also provides the data and information with a powerful security. This helps the organization to cut down the expense of individual security systems for each department and bring the best of their business without worrying about data security.
    3. Reduces costs that can be used for other important aspectsThe most important feature of Oracle NetSuite is integrating all the business units into one. The units that once used different software for their day-to-day needs now are clubbed into one single software. This helps the business in reducing the cost of providing separate software to each one of the departments. Ultimately, this helps in reducing the excess cost which can be used in other important aspects of the business.
    However, these were only some of the benefits that Oracle NetSuite provides you by streamlining your business. But the benefits are unlimited and help your business to reach heights.