Oracle NetSuite ERP helps businesses manage their enterprise resource planning and customer operations on the same platform. With its many features and capabilities, the AI-powered system also helps improve overall business efficiency for higher profitability and revenue.
As such, the ERP platform must operate as efficiently as possible. A minor technical glitch or performance compromise can lead to unforeseen difficulties for a business.
Since a business fundamentally depends on Netsuite, it must maintain dedicated strategies to keep the system running at optimal efficiency.
This blog post examines the six main strategies that many IT consulting firms use.
Why is Oracle NetSuite performance crucial for a business?
Businesses rely on NetSuite ERP for many reasons. Even a slight compromise in NetSuite’s performance can be detrimental to a business.
Here are some reasons why NetSuite efficiency is vital for a business.
- As NetSuite automates various tasks, such as invoicing, procurement, etc., its performance issues can negatively affect them, leading to payment failures, procurement delays, and more.
- NetSuite helps businesses with real-time analytics and reporting. When the system isn’t performing as expected, data analysis can slow down, negatively impacting decision-making.
- The ERP platform integrates with other tools to generate insights. If NetSuite doesn’t perform as expected, businesses may be unable to find and analyze trends.
- Overly complex workflows can consume significant server resources, impacting overall system efficiency and reducing business performance.
- NetSuite integrates CRM features to provide a holistic view of customer interactions. A failing ERP can cause management and timely customer support issues.
While these issues are significant and affect a company’s operations and resource management, various strategies can help.
Here are the top strategies most NetSuite consultants rely on to guide their clients.
6 Strategies to Improve Netsuite Efficiency
Using innovative strategies to keep NetSuite ERP running at peak performance can benefit a business in a variety of ways.
Here are some strategies the Big Bang team uses for our clients as part of our NetSuite consulting services.
1. Regular monitoring and upgrading
Oracle regularly releases updates and upgrades for the platform to ensure high-level performance.
Often these releases include:
- New Features
- Module Improvements
- Improved performance
- Security fixes
- Bug Fixes
All these elements help to keep the platform at its best level of efficiency.
2. Optimized system configuration
It is essential to tailor NetSuite configurations to the specific needs of the business.
For example, a manufacturing company may focus primarily on managing bills of materials (BOMs), production schedules, raw materials, etc. IT consulting firms can use the platform to track project timelines, budgets, and resource allocation.
Optimizing the platform for specific goals will allow the platform to use only the resources needed to meet those needs.
Optimization helps improve the overall efficiency and performance of the platform.
3. Simplified workflow and automation
NetSuite enables businesses to create efficient workflows and automation to improve performance.
However, inefficient configurations can cause the platform to use more resources than it needs. This will make the platform unnecessarily overloaded. Be aware of outdated workflows and customizations that are no longer necessary.
Removing these workflows and automation will help streamline the system and free up resources that NetSuite can allocate to other core functions.
4. better data management
Effective data management is essential to maintaining NetSuite’s effectiveness, but outdated records can accumulate over time and cause several challenges.
Ineffective data management can lead to data accumulation and various problems, such as:
—Increasing data storage costs
—Slow system performance
—Inaccurate reports
—Compliance risks
Regularly archiving or purging obsolete data ensures a clean database and better system performance with scalability.
However, to develop a data management strategy, the best practice is to work with a NetSuite consultant.
5. User training and best practices
Even with the best workflows and automation in place, the platform’s performance also depends on the people using it.
Even with adequate training programs, teams need to update themselves regularly to improve their skills and keep them informed about the latest updates.
Businesses should develop some best practices for users to ensure that they always follow these practices and the platform maintains its peak performance.
Here are some best practices for NetSuite:
—Customize the workspace to make it easier to use.
—Use NetSuite documentation, training resources, etc.
—Use built-in shortcuts to navigate and perform tasks.
—Access only the modules necessary for security.
While these practices may not make a difference immediately, they will improve platform performance in the long run.
6. Implementation of integration
Businesses can integrate NetSuite with other tools in many ways. The primary and most commonly used integration is NetSuite CRM.
Businesses don’t always need to maintain integrations, as NetSuite is always releasing new features. Businesses should still regularly review integrations to optimize them.
These reviews and audits will help better configure integrations and remove unnecessary parameters or scripts that the integration no longer needs.
Sometimes, a company may not require integration at all. In such cases, they can work with any Netsuite consulting provider to remove them.
Improve Netsuite performance with an ERP consultant
The proper functioning of NetSuite is essential to the efficiency of business operations and, ultimately, its overall success. Failure to properly maintain the platform using effective strategies can affect a company’s performance and operational efficiency.
Without knowledge of the NetSuite ERP system and how it works, a business may be unable to ensure its performance. This is where a NetSuite consultant like Big Bang can provide tremendous help. The Big Bang team is a group of experts with years of experience working with numerous businesses; the Big Bang team optimizes NetSuite for maximum efficiency.
Contact us for a free assessment and find out how Big Bang can help you.
