Enterprise resource planning (ERP) systems have become a critical tool for businesses over the past several decades. An ERP solution automates critical business processes and serves as a shared database for all financial and operational information from across the company. It pulls this data from a number of modules built to help various departments – accounting, manufacturing, human resources, for example – perform their individual functions.
An ERP solution gives all employees access to the information they need to answer important questions about their department’s current performance and future planning, as well as target areas for improvement. This single source of information minimizes data accuracy and consistency issues and ensures everyone is looking at the same numbers, no matter their role. It also drives better decision-making that leads to more efficient processes and cost savings. Additionally, ERP can automate many tasks, reducing errors and freeing up employees to focus on more strategic work.
Common ERP modules support back- and front-office functions like finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management (CRM) procurement and workforce management. More functionally-rich solutions may also include professional services automation (service resource management), human resources management, ecommerce and marketing automation.
What Are NetSuite Modules?
NetSuite modules provide added features to the NetSuite ERP platform, allowing businesses to easily tailor the solution to meet their unique needs. As a unified suite of applications, new features are seamlessly added and build on existing capabilities. NetSuite is designed to easily add functionality as your business needs evolve.
NetSuite ERP software includes core financial and accounting functionality, along with a variety of other capabilities designed to automate key business processes, such as inventory management, order management, project management, supply chain management (SCM), materials requirements planning (MRP), procurement and more.
NetSuite Modules List
As your business evolves, so should the capabilities of the software that you use to run it. Modules provide a wide range of features ensuring NetSuite always meets your business needs.
NetSuite Financial Management Modules
- NetSuite Advanced Financials brings added financial management capabilities to NetSuite for budgeting, expense allocations, amortization and statistical accounts.
- NetSuite SuiteBilling adds invoice and billing management to support transaction, subscription, usage-based and hybrid models, while accounting for revenue accurately and in accordance with the latest revenue recognition standards.
- NetSuite Revenue Management helps companies comply with revenue recognition regulations and report results in a timely manner by automating revenue forecasting, allocation, recognition, reclassification and auditing.
- NetSuite Planning & Budgeting facilitates both company-wide and departmental budgeting and planning with modeling capabilities, approval workflows and reporting.
- NetSuite Multi-Book Accounting allows finance departments to create business transaction records while automatically posting the activity to multiple books and issue financial statements as per all relevant accounting standards.
- NetSuite OneWorld delivers global business management capabilities for companies with multinational and multi-subsidiary operations. It lets your finance team adjust for local currency and automatically comply with local and regional taxation and legal requirements. And it provides holistic global business reporting.
- NetSuite Dunning Letters sets up automated dunning processes in NetSuite to help collect accounts receivable by sending reminder letters before payment.
- NetSuite Fixed Assets Management is used for company-owned and leased assets, providing flexible depreciation and amortization schedules and detailed asset reporting.
- NetSuite Electronic Bank Payments securely automates electronic funds transfer payments and collections.
- NetSuite Contract Renewals automates the contract renewal process.
NetSuite Customer Relationship Management Module
- NetSuite CRM helps you align and oversee all aspects of customer relationships, including marketing automation, interaction history, customer service and more. It tracks sales and partner performance, as well as providing quotes, managing orders, forecasting sales and integrating with ecommerce platforms.
NetSuite Inventory and Order Management Modules
- NetSuite Advanced Inventory Management adds complex inventory management functionality, including demand-based inventory replenishment, multi-location inventory management, matrix item, lot and bin management and serialized inventory.
- NetSuite Advanced Order Management provides allocation orchestration by automating the order promising, allocation, orchestration and execution processes.
- Grid Order Management simplifies order entry and management of multi-attribute SKUs.
NetSuite Commerce Modules
- NetSuite SuiteCommerce provides a mobile optimized ecommerce site that is seamlessly unified with NetSuite financials, order and inventory management and CRM. Create and edit your site with simple-to-use tools designed for businesses users and support both B2B and B2C audiences.
- NetSuite SuiteCommerce Advanced ecommerce solution puts complete control in the hands of developers. Developers and designers have ultimate adaptability while still integrating with other NetSuite modules.
- NetSuite SuiteCommerce InStore empowers sales associates with a full featured mobile point-of-sales solution as well as providing complete inventory and customer information to engage customers more effectively, drive more sales and provide a satisfying shopping experience.
- NetSuite SuiteCommerce MyAccount allows business buyers to perform common tasks, such as pay invoices, view account balances, check order status and file support cases, online, 24/7.
NetSuite Human Resources Modules
- NetSuite Payroll organizes and automates payment for employees and contractors. It helps you monitor time and attendance, as well as account for deductions and taxes and adjust for multi-state workers.
- NetSuite SuitePeople HR centralizes and maintains employee records and information while serving up real-time HR and financial analytics. The easy-to-use tools connect HR data with other information sources, including payroll, budget and more.
- NetSuite SuitePeople Performance Management gives new life to employee reviews with goal tracking and recognition tools.
- NetSuite Incentive Compensation creates commission and other incentive-based compensation plans, and it can manage complex and tiered setups. Account for quotas, quantities, service contracts and even profitability margins, and share this information with sales reps so they can easily understand their incentives and goals.
NetSuite Professional Services Automation Modules
- NetSuite SuiteProjects. Natively integrated into NetSuite, provides professional services automation solution to help with project management, job costing and resource allocation.
- NetSuite Project Management gives you the ability to create and manage project schedules, assign resources to tasks, control project billing and revenue and report on project profitability.
- NetSuite OpenAir supports large services organization focused on delivering complex projects with real-time visibility anytime, anywhere with access to the tools and information you need, like time tracking, project management reporting and dashboards, resource management, expense management and invoicing.
NetSuite Supply Chain Modules
- NetSuite Procurement improves the purchasing operations of your business. Standardize the vendors and rates for commonly purchased items company-wide, automate requisitioning and purchasing processes and match purchase orders, receipts and invoices to more efficiently manage cash flow.
- NetSuite Warehouse Management System (WMS) helps you more efficiently manage every aspect of warehouse operations, from receiving to picking, cycle counting and returns. It includes shelf-life tracking, barcode scanning to track and suggest putaway locations, interactive warehouse activity dashboards and reporting and warehouse team management — and it can all be done from a mobile RFID device.
- NetSuite Demand Planning forecasts anticipated sales based on various automated factors and manually entered data. Your sales forecasts can be more than guesswork and you can better manage your entire supply chain to make sure you have the appropriate amount of product in stock by analyzing historical data and accounting for other factors, such as seasonal variability.
- NetSuite Quality Management guides and organizes data for your product testing. Set up the parameters, schedule and workflow of all your product testing and inspections. Evaluating real-time results can be done through a user-friendly interactive application accessible from any browser or mobile device.
- NetSuite Work in Process (WIP) and Routings gives you the tools you need to understand the complete manufacturing process. It can help you better see what resources you need, which are being over- or under-utilized, how much time the process will take and the cost of materials consumed during the process.
- NetSuite Work Orders and Assemblies powers the assembly of multi-component products. Create multi-faceted work orders to share with production what you want made, when you need it and all the component parts needed to make it. This module also connects inventory to the manufacturing process, so you have a better, real-time understanding of current inventory status.
- NetSuite Advanced Manufacturing connects disparate systems used by manufacturers to more efficiently manage the overall supply chain process so you can cut operating costs and increase revenue. It connects financial reports, inventory and outstanding orders with real-time data and helps you better understand capacity and resource utilization.
Choosing the Right NetSuite Modules
Challenges around financial management and accounting, including general ledger, AP, AR and cash management will drive organizations to adopt NetSuite. These foundational financial capabilities are part of the suite; no additional modules are required.
Some businesses need a better financial management and accounting solution but also need some added capabilities to address a few unique industry requirements. NetSuite industry solutions are collections of modules intended to meet the unique needs of a specific vertical market.
However you decide to start, adding modules to address new business challenges is always an option. The best way to ensure that you add the right capabilities to your NetSuite solution is to discuss your challenges with your NetSuite account manager. They will work with you to understand your business needs and pain points and help you create a solution that’s a perfect fit for your business.
NetSuite Module Pricing
NetSuite modules can be licensed separately at any time during your NetSuite contract. Since every module is different and has varying capabilities, module licensing fees also vary.
You Have Questions, We Have the Answers
Q: What types of modules are in NetSuite?
A: NetSuite modules provide a wide array of additional features, ranging from financial management and commerce to manufacturing and project management. All modules are optional and can be added as the business need arises.
Q: What are SuiteApps?
A: SuiteApps provide extensions and customizations to the NetSuite platform to meet specific industry or local business requirements. Built on the SuiteCloud platform, SuiteApps are available from NetSuite as well as NetSuite partners. The SuiteApp marketplace provides a comprehensive directory of certified SuiteApps.
Q: How are SuiteApps different from NetSuite modules?
A: NetSuite modules are part of the core platform. They need to be licensed in order to enable their functionality, but no extra integration is needed. SuiteApps are add-on applications that work with the platform, but must be installed separately.