Getting Started With NetSuite Implementation: How to Ace it?

You’re here because you’ve recently purchased NetSuite ERP, which is an excellent decision for your business, after all, NetSuite offers everything you need to support modern business operations.

It is built to solve modern business challenges and continuously keeps updating its features to align with changing demands of the business.

For this reason, NetSuite has become synonymous with an ERP system and has emerged as one of the most sought-after ERP solutions for businesses across industries.

However, deciding to employ NetSuite ERP and making it work to its full potential are two very different endeavors, not until you have a few tricks up your sleeve!

By adopting the right approach for NetSuite implementation, you can:

• Easily Integrate Third-Party Systems With NetSuite
• Establish Business Visibility
• Customize NetSuite to Fit Business Requirements
• Centralize Core Business Processes
• Automate Everything for Better Business Efficiency

To get your NetSuite implementation off to a good start, we’re sharing some best practices to follow before and during the implementation process to get maximum ROI from your NetSuite investment.

Keep reading to discover the key to making your NetSuite implementation experience as smooth as possible.

Let’s get started, shall we?

Best Practices to Follow for a Smooth NetSuite Implementation

• Clearly Define Scope

A clear project scope leads to the creation of a comprehensive and realistic project plan designed to support current and future business needs.

• Define the Gaps that You Intend to Cover With NetSuite

Once the project scope is defined, it’s time to identify the gaps in functionality your business currently experiences. This information will guide how you can best utilize NetSuite to create more efficient systems and processes and determine whether any customization is required.

• Establish Timeline for the Project

Developing a timeline allows you to stay on top of things and assures that your project is completed on schedule.

• Identify Key Resources

Identifying essential resources can help you lay the foundation for the training phase, as these key resources would be trained afterward.

Religiously following these steps can set up a great foundation for the next phase, which is the execution phase!

Let’s discover best practices during NetSuite implementation.

• Migrate Data from Previous Systems

Although migrating might seem fairly straightforward, it involves several changes to a database or application. The best practices to ensure seamless migration are:

1. Identify Data to Migrate
2. Prepare CSV File
3. Upload Data in NetSuite
4. Resolve Errors
5. Validate Your Data

• Set up a Chart of Account and Account Balances

You can find the chart of accounts for your company in the general ledger of your NetSuite account. Each account is listed in the chart of accounts, along with its account number, name, type, description, and balance. Additionally, it indicates whether an account is a summary account.

• Configure NetSuite Settings

In order to get the best results, businesses need to configure NetSuite the right way to match their specific requirements.

The purpose of configuration is to make NetSuite work for your business by utilizing the existing features and settings.

Several NetSuite features and settings are available out of the box without requiring coding or a developer. You may already know that you can add custom fields to existing records.

Additionally, NetSuite allows you to create entirely new record types to store virtually any type of data.

You can create custom segments, such as departments and classes, that can be used across record types. Workflows and Saved Searches allow you to automate your configurations to increase efficiency, decrease errors, and gain additional insights.

• Integrate NetSuite ERP With Your Tech Stack

NetSuite’s open integration environment is another powerful feature.

With NetSuite’s open APIs, you can connect with your other business systems, enabling you to enter data just once without moving it between systems or reconciling it by hand.

The ease of integration is one of the true differentiators of NetSuite – one that provides a toolset to propel a business towards success.

Bonus Tips: Keys to Ensuring a Successful NetSuite Implementation:

1. Find the Right NetSuite Partner

Consult a NetSuite partner who understands your business goals, budget, and go-live date requirements, as well as customization requirements. Be sure your partner has a good track record of satisfied customers. You can also expect a great partner to ask you the right questions and guide you through the NetSuite implementation process smoothly.

2. Provide the Right Training to the Implementation Team

Lastly, it is imperative that you train end-users to eliminate the complexities involved in user adoption. As a good practice, one must train all end-users personally, not just department heads. This ensures increased buy-in and satisfaction of users with the cloud ERP solution.

Want more actionable insights on NetSuite implementation, post-implementation best practices, or even NetSuite customization?

We’ve got you covered!

Here’s an exclusive webinar for you, where our NetSuite experts shared tricks of the trade for successful implementation and customization.

Ready to Set up NetSuite ERP for Success? Talk to Us!