The following is a guest article from our partner contributor, Adam Baruh, CEO of SuiteCentric, an Oracle NetSuite Solution Provider:
Companies across a variety of industries have turned to ecommerce as a way to augment traditional business models in the wake of the ongoing global pandemic. Whether it’s reallocating resources to strengthen an existing online presence or creating a completely new web store, fundamental changes to business as we know it are underway. This shift highlights the value of having robust business management systems like NetSuite in place that are scalable and customizable to help confront and anticipate new challenges.
In this blog post, I will share three truths and one falsehood about the NetSuite ecommerce solution.
Truth #1: Having ecommerce fully integrated with back-office systems can drastically improve a company's visibility, efficiency, and adaptability.
With a fully-integrated business management solution, all critical systems (ERP, CRM, warehouse management, ecommerce, etc.) are seamlessly connected, and in NetSuite, they share the same code base. So, there is no middleware or middleware management, data is more secure and accurate, and automation capabilities are enhanced.
Companies with fully-integrated systems are not forced to dedicate IT resources to managing and updating middleware between disparate software systems. Valuable time and effort are spent overseeing upgrades, developing patches, and monitoring for potential security threats to help maintain regular operations. IT staff at companies with fully-integrated systems are free to focus on other important tasks that support strategic business growth.
These companies are often better equipped to embrace new engagement models that influence customer retention like buy online, pick up in-store (BOPIS). According to a McKinsey report, approximately 56 percent of customers intend to continue using new engagement models such as BOPIs, and 45 percent will continue with grocery delivery after the pandemic subsides.
For NetSuite ecommerce customers, they also receive the benefit of accessing KPIs, reports, and more instantly as data is updated in real-time, and the customizable dashboards enable system-wide visibility all the way down to the transaction level. Instant access to these vital data points and reports enables customers to make better-informed business decisions because they can quickly examine key information from macro and micro perspectives, in just a few clicks. With a shared pool of data across all suites, NetSuite customers can also more easily automate reports, processes, and workflows.
Truth #2: SuiteCommerce Advanced's out-of-the-box functionality and intuitive design are top-notch.
SuiteCommerce Advanced (SCA) is NetSuite's most robust and flexible ecommerce product. It enables customers to achieve pixel-perfect design, and it seamlessly connects with NetSuite ERP, CRM, and other essential back-office systems and processes.
SCA customers receive full code-level access, and the Commerce Extension Framework allows the core commerce platform to easily interface with external web applications. It also comes with unlimited layout control, customizable checkout flow, fully responsive design themes, and a collection of highly-engaging customer-first features like product comparisons, faceted navigation, saved carts and lists, and much more. The personalization and customization options with SCA are nearly limitless.
SCA also supports multiple currencies, languages, tax, and VAT information, customs documentation, and more to ensure companies can operate on an international level.
With native integrations to ERP, order and inventory management, and other critical systems, SCA customers have end-to-end visibility over their entire business. And, as mentioned in the previous section, the data is shared across systems and updated in real-time. This means leadership can always have a finger on the pulse of their business, quickly identify and resolve issues, and forecast for the future within the same platform.
SCA is infinitely more complex than I was able to cover here, so please download this educational PDF for more information or let SuiteCentric know if you’re interested in a customized demo.
Truth 3: NetSuite’s SuiteCommerce platform seamlessly integrates with Solupay’s frictionless payment system.
Solupay for NetSuite SuitePayments is a powerful payment solution available in NetSuite's SuiteApp Marketplace. It directly integrates with NetSuite and provides a secure way for companies to accept credit and debit card payments in the US and Canada. This direct integration with NetSuite helps to streamline the payment process, lower costs, and it mitigates the risk of fraud.
In addition to standard payment methods, Solupay offers a host of Alternative Payment methods that have become popular in the last decade. Several of which include Apple Pay, PayPal, ACH, and EMV. The company also provides 3D Secure Advanced to assist with fraudulent chargebacks, and it is a PCI compliant solution that offers $100k breach insurance.
With the combination of the NetSuite ecommerce platform and Solupay, companies are empowered to deliver customized shopping experiences with a variety of payment options. So customers can shop and pay on their terms.
Lie: NetSuite is too expensive for my business.
One can argue that NetSuite is actually one of the more affordable business management solutions on the market, considering what it can do for its customers.
NetSuite was born in the cloud so that rules out the costs and labor-intensive aspects of selecting an on-premise solution. That means no mandatory on-site IT maintenance, costly upgrades, version lock, physical hardware requirements, and more. NetSuite's 20,000+ customers are operating on the same version that runs in the cloud.
It is also a fully integrated solution, capable of running an entire business. As I've mentioned before, there are no middleware connectors, third-party applications, or patch requirements because all systems are natively integrated. And they share the same data. Customers can quickly access ERP, CRM, ecommerce, inventory and order management, and critical data or reports instantaneously.
For information on NetSuite pricing, please visit the SuiteCentric website.
Another way to more quickly realize a substantial ROI from a NetSuite implementation is through the cost savings Solupay provides with lowering payment processing rates. Through their Interchange Optimization program, the typical client experiences a 20-35% reduction in interchange rates, which compose a significant percentage of card processing costs.
About Guest Author Adam Baruh
Adam is the Chief Executive Officer at SuiteCentric, an Oracle NetSuite Solution Provider, member of the Commerce Agency Partnership, and winner of the Commerce Agency Partner of the Year in 2020. He has more than 12 years of experience as a NetSuite manager and working as a solutions architect in the platform. Adam leverages a blend of engineering, functional and architectural perspective and expertise as he leads the strategic direction of the company and ensures delivery of solutions that maximize client benefits.
If you’re interested in evaluating NetSuite or partnering with SuiteCentric, you can email us at Sales@SuiteCentric.com.