The widespread availability of tech tools has transformed the business world. These utilities have empowered business to improve productivity and efficiency, as well as reduce costs associated with project management.
NetSuite OpenAir is one such project management tool. It is one of the most popular ERP products on the market today. Before we discuss its use, features and price, let’s take a brief look at NetSuite and how it got taken over by Oracle.
What Was NetSuite Before Oracle
Acquisition?
The origins of NetSuite date back to the late nineties. NetSuite started as NetLedger in 1998 by Evan Goldberg. As NetLedger, NetSuite provided accounting software solutions to clients. Larry Ellison, the founder and CEO of Oracle, injected $125 million into the nascent accounting software company and continued to market it Oracle Small Business Suite until pulling out of the relationship in 2000.
Despite the Oracle setback, NetLedger continued to thrive and became a public-limited entity in 2007. The latter years saw the company become part of major acquisitions that bolstered its rather light sight of features at the time. It announced the OpenAir acquisition in 2008, followed by QuickArrow. The last acquisition before the Oracle one took place in 2015.
Why Oracle Acquired NetSuite?
Oracle acquired NetSuite in July 2016 for a staggering $9.3 billion. Oracle had shown interest in NetSuite since the latter’s humble beginnings as NetLedger. All acquisitions prior to Oracle’s speak volumes about the tremendous potential of NetSuite. Oracle did the right thing by acquiring NetSuite. It knew the solutions offered by NetSuite could be used to expand Oracle’s own gigantic market reach.
By acquiring NetSuite, Oracle made sure they got access to the entry-level accounting segment that had been dominated by NetSuite for so long. Though the relationship had seen downs in the beginning, Oracle ultimately acquired NetSuite in 2016. Oracle is a household name in the information and application industry and their acquisition of NetSuite strengthened their foothold in the software market.
What is NetSuite OpenAir?
NetSuite OpenAir is a project and resource management tool. It is purposely built to perform a wide range of functions such as managing invoices and bills, as well as track expenses and projects. It is an all-equipped business suite that comes with a Professional Services Automation (PSA) software (see NetSuite OpenAir demo for more details). This automation capability accounts for the primary reasons behind the popularity of the suite. The tool provides:
- Real-time insights
- Improve profitability
- Scale down expenses
- Maximize resource utilization
- Cloud support
What Are the Benefits of Using NetSuite?
The utility offers tremendous benefits for small and medium-sized businesses. Whether you are a manufacturer, wholesale distributor, retailer, or a non-profit organization, NetSuite offers great support for your project management needs. That said, these are the benefits of using NetSuite:
Rich Features
NetSuite is, perhaps, the only ERP product that comes with dozens of features. No other project management tool is seen to match the capabilities of NetSuite. It caters to small and medium-sized industries including retail/ecommerce, distribution, software solution providers, and manufacturing, to name a few.
Value for Money
Another great thing about the ERP product is that it provides value for money. Buyers can choose the modules as per their requirements. You can select the module you need without paying for the overall product. The NetSuite OpenAir pricing varies between industries.
Seamless Integration
NetSuite is designed to seamlessly integrate with other software applications such as SAP, Salesforce, Google Apps, and Oracle. That means users don’t have to choose between NetSuite and Salesforce. Why? Because the robust APIs make the integration seamless, allowing businesses to use NetSuite with other compatible software applications.
Real-Time Visibility
Real-time visibility is key to making informed decisions. This is where NetSuite excels. You can access data anywhere, anytime using NetSuite. Moreover, you don’t need to use multiple resources to gather data as NetSuite provides the access through a single platform. That means businesses can get accurate reports in a timely manner – allowing them to make informed decisions.
Automation
The excellent automation capabilities of NetSuite allow businesses to save time and reduce costs. Tasks that previously needed hours to finish can now be completed in a matter of minutes – thanks to NetSuite.
Integrated System
OpenAir is designed to offer a comprehensive solution for all your business needs. The tremendous capabilities of this excellent ERP product allow it to seamlessly integrate with other software applications. That means employees no longer have to manually insert data to obtain reports for different departments. The whole process occurs on an integrated system that provides accurate reports. In all, the utility provides error-free results.
Easily Scalable
Another great benefit of using NetSuite comes in the form of scalability. The product is available in languages. No matter which country you are from, you can get NetSuite for your business. Companies that experience horizontal growth can add more users – thanks to the flexible subscription model of the suite. Organizations that expand vertically, on the other hand, can add additional modules to the ERP system.
Customizable
A good ERP product should be customizable. Speaking of customizability, NetSuite is the most customizable Saas solution in the world. That’s no hyperbole. It’s a fact. SuiteFlex, a version of NetSuite, is highly customizable. It allows users to set up different modules with simple clicks rather than resort to coding. This is one of the reasons why NetSuite OpenAir reviews are better than most ERP products on the market.
Self-Service Portal
NetSuite comes with a self-service portal. That means you can perform various functions as per your convenience. Use the self-service portal and you’ll be amazed by the results you see.
Conclusion
NetSuite continues to provide great project management and expense tracking solutions to small and medium-sized enterprises around the world. If you are a new entrant, it is advisable to understand the ERP product. That way you’ll be able to use it to perform several crucial functions. Moreover, the benefits of the product reflect its capability to deliver in real time. Try NetSuite and you’ll be amazed by the results you see.
