We are using NetSuite OneWorld to manage our nonprofit's finances, focusing on accounts receivable and payable, and fixed assets for now. We're looking to expand its use to cover all our financial aspects, which will help streamline our operations, both locally and internationally. It brings efficiencies and supports our multinational business processes.
As an accountant, my use case for the NetSuite OneWorld solution revolves around consolidating financial data for multiple subsidiaries and utilizing its reporting tools. At the end of each month, our focus is to report the financials of the parent company by first going through the bookkeeping of each subsidiary in NetSuite and then rolling them up under the parent company. This data is then tracked and used for internal management reporting purposes, providing valuable insights based on the information obtained through the NetSuite OneWorld platform.
Senior NetSuite Administrator at Storyteller Overland
Real User
Top 10
2023-01-06T16:20:24Z
Jan 6, 2023
In my current role, I'm using NetSuite OneWorld in a manufacturing and sales environment. Still, I was a former NetSuite consultant, so I've used it mainly for inventory and distribution, including CRM and financials.
VP of Operations at a manufacturing company with 11-50 employees
Real User
2021-02-24T01:06:37Z
Feb 24, 2021
We use the solution to run our entire organization from beginning to end. We started with the CRM for opportunities and leads prospects. We also customized it with custom fields to make separate line items and then used that to spit out reports on calculations of gross margin expected based on those opportunities. We could have multiple line items underneath specific opportunities as the opportunity information's collected at the header level. We would generate sales orders based on approved quotations and a customer PO and we would put in a sales order. The way we configured it was just before we put the sales order in, we would enter all the item information. We would go into the item master, set it up with the associated vendor who was going to provide that material. That way, when you put the sales order in and you selected that item, and you completed and saved it, it would automatically generate the purchase orders without having to reenter all that information.
This review was written in 2018 - See Update Below: We just brought up a pharma manufacturer client on NetSuite. They do contract manufacturing, and while they technically hold the 'manufacturer of record' with the FDA, it is essentially a distribution effort. The actual drug records are held by the CMO (contract manufacturing organization) and the traceability is done by the 3PL (third-party logistics) operations. 2019 Update: NetSuite for Pharma has really expanded - conquering the validation hurdle that kept pharma companies out of a cloud based program that updates every 6 months has been solved! More current info on the ERPodcast here: profitfromerp.com
A comprehensive web-based solution, NetSuite is the industry's first and only Software-as-a-Service (SaaS) business software that supports your entire company from accounting/enterprise resource planning (ERP) to customer relationship management (CRM), professional services automation (PSA) and eCommerce in a single, integrated and powerful business management software solution.
We are using NetSuite OneWorld to manage our nonprofit's finances, focusing on accounts receivable and payable, and fixed assets for now. We're looking to expand its use to cover all our financial aspects, which will help streamline our operations, both locally and internationally. It brings efficiencies and supports our multinational business processes.
The tool is our financial ERP. It handles our unusual financial aspects– P2P and OTC treasury. We have integrated it with JP Morgan.
As an accountant, my use case for the NetSuite OneWorld solution revolves around consolidating financial data for multiple subsidiaries and utilizing its reporting tools. At the end of each month, our focus is to report the financials of the parent company by first going through the bookkeeping of each subsidiary in NetSuite and then rolling them up under the parent company. This data is then tracked and used for internal management reporting purposes, providing valuable insights based on the information obtained through the NetSuite OneWorld platform.
In my current role, I'm using NetSuite OneWorld in a manufacturing and sales environment. Still, I was a former NetSuite consultant, so I've used it mainly for inventory and distribution, including CRM and financials.
NetSuite OneWorld is a cloud-based solution.
We use the solution to run our entire organization from beginning to end. We started with the CRM for opportunities and leads prospects. We also customized it with custom fields to make separate line items and then used that to spit out reports on calculations of gross margin expected based on those opportunities. We could have multiple line items underneath specific opportunities as the opportunity information's collected at the header level. We would generate sales orders based on approved quotations and a customer PO and we would put in a sales order. The way we configured it was just before we put the sales order in, we would enter all the item information. We would go into the item master, set it up with the associated vendor who was going to provide that material. That way, when you put the sales order in and you selected that item, and you completed and saved it, it would automatically generate the purchase orders without having to reenter all that information.
This review was written in 2018 - See Update Below: We just brought up a pharma manufacturer client on NetSuite. They do contract manufacturing, and while they technically hold the 'manufacturer of record' with the FDA, it is essentially a distribution effort. The actual drug records are held by the CMO (contract manufacturing organization) and the traceability is done by the 3PL (third-party logistics) operations. 2019 Update: NetSuite for Pharma has really expanded - conquering the validation hurdle that kept pharma companies out of a cloud based program that updates every 6 months has been solved! More current info on the ERPodcast here: profitfromerp.com
Making Intelligent Dashboards is a great way to use this tool, and allow the use of reminders and another components such as Charts.