Oracle NetSuite ERP helps businesses manage their business resource operations and customers on the same platform. With extensive functionalities and capabilities, the AI-powered system also helps improve overall business efficiency for higher profitability and revenue.
As such, the ERP platform must work at its finest and most efficiently. A slight glitch or compromise on performance can throw a business into unforeseen challenges.
Since a business fundamentally depends on Netsuite, it should maintain dedicated strategies to keep the system performing at optimum efficiency.
This blog post examines the top six actionable strategies many IT consulting firms use.
Why Is Oracle NetSuite’s Performance Crucial for a Business?
Businesses rely on Netsuite ERP for numerous purposes. A slight compromise on NetStuite’s performance can adversely affect a business.
Here are a few reasons why NetSuite’s efficiency is vital to a business.
- As NetSuite automates various tasks, like invoicing, procurement, etc., its performance issues can negatively affect them, leading to failed payments, delayed procurement, and more.
- NetSuite helps businesses with real-time analytics and reporting. When the system fails to work as expected, data analysis may become slower, negatively impacting decision-making.
- The ERP platform integrates with other tools to generate insights. If NetSuite fails to work as intended, businesses may be unable to find and analyze trends.
- Overly complex workflows can consume significant server resources, impacting overall system efficiency and lowering business performance.
- NetSuite integrates CRM functions to provide a holistic view of customer interactions. A failing ERP may cause issues with timely management and customer support.
While these issues are significant and affect a business’s operations and resource management, various strategies can help.
The following are the top strategies that most NetSuite consultants rely on to help guide clients.
6 Strategies to Improve Netsuite’s Efficiency
Using innovative strategies to keep NetSuite ERP at its peak performance can benefit a business in diverse ways.
Here are a few strategies that the Big Bang team uses for our clients as part of our NetSuite consulting services.
1. Regular Monitoring and Upgrading
Oracle releases constant updates and upgrades for the platform regularly to ensure top-notch performance.
Often, these releases include:
- New Features
- Module Enhancements
- Performance Improvements
- Security Patches
- Bug Fixes
All these help keep the platform at its best performance efficiency.
2. Optimized System Configuration
Tailoring NetSuite configurations to specific business needs is vital.
For example, a manufacturing business may primarily focus on managing bills of materials (BOMs), production schedules, raw materials, etc. IT consulting firms may use the platform to help with tracking project timelines, budgets, and resource allocation.
Optimizing the platform based on specific purposes will allow the platform to use only the resources needed to serve those needs.
Optimization leads to better efficiency and overall platform performance.
3. Streamlined Workflows and Automation
NetSuite allows businesses to create efficient workflows and automation to improve performance.
However, inefficient configurations may make the platform use more resources than needed. It will make the platform overwork unnecessarily. Be aware of outdated workflows and customization that may no longer be needed.
Removing these workflows and automation will lighten the system and release resources that NetSuite can allocate for other vital functions.
4. Improved Data Management
Effective data management is crucial to keep NetSuite efficient. However, outdated records can accumulate over time and lead to several challenges.
Inefficient data management may cause data accumulation and diverse issues, such as:
—Increased data storage costs
—Slower system performance
—Inaccurate reporting
—Compliance risks
Regularly archiving or purging obsolete data ensures a clean database and better system performance with scalability.
However, when building a data management strategy, working with a NetSuite consultant is the best practice.
5. User Training and Best Practices
Even with the best workflows and automation in place, the performance of the platform also depends on the people using it.
Even with adequate training programs, teams must review and update regularly to help improve user skills and educate them on the latest updates.
Businesses should develop a few best practices for users to ensure they always follow these practices to keep the platform at its peak performance.
Here are a few best practices for NetSuite:
—Customize the workspace for ease of use.
—Use NetSuite’s documentation, training resources, etc.
—Use the built-in shortcuts to navigate and perform tasks.
—Access only the necessary modules for security.
While these practices may not make a difference immediately, they will improve the platform’s performance in the long term.
6. Proper Integration Implementation
Businesses may have numerous integrations of NetSuite with other tools. NetSuite CRM integration is the chief and most often used.
Businesses may not always need to maintain integrations constantly as NetSuite always releases new capabilities. Hence, businesses must review the integrations in order to optimize them.
These reviews and audits will help configure the integrations better and remove unnecessary settings or scripts that the integration no longer needs.
Sometimes, a business may not require the integration at all. In such cases, they can work with any Netsuite consulting services provider to remove them.
Improve Netsuite’s Performance with an ERP Consultant
Maintaining proper operation of NetSuite is vital for efficient business operations and, ultimately, its overall success. Failing to maintain the platform well using effective strategies can affect a business’s performance and operational efficiency.
Without knowledge of the Netsuite ERP system and its workings, a business may be unable to ensure its performance. This is where a NetSuite consultant like Big Bang can provide monumental help. The team at Big Bang is a group of experts with years of experience working with numerous businesses; the Big Bang team optimizes NetSuite for top efficiency.
Contact us for a free assessment and learn how Big Bang can help.
