NetSuite CRM (customer relationship management) and NetSuite ERP (enterprise resource planning) are the two standard software packages that are offered by NetSuite. These packages include a wide range of features that are beneficial for nearly any company.
For example, NetSuite ERP has all of the following features:
- Accounts Payable
- Accounts Receivable
- General Ledger
- Multi-Currency and Multi-Language
- Item and Basic Inventory Management
- Project Management
- Bank Management & Reconciliations
- Purchasing
- Employee Center
- Acceptance of Credit Cards, ACH, and EFT
- Order Management
NetSuite CRM includes the following features in its modules:
- Sales Force Automation / Opportunity Management
- Contract Renewals
- NetSuite CPQ (configure, price, quote)
- Marketing Automation
- Partner Relationship Management
- Customer Service Management/Case Management
However, while NetSuite ERP and NetSuite CRM are very useful, every company has unique needs and these two packages are often not enough by themselves to satisfy every need that companies have. For this reason, NetSuite offers modules that contain software to help businesses with functions beyond what these standard offerings for customer relationship and enterprise resource management can help with.
The Complete List of NetSuite Modules
Some NetSuite modules are included with the NetSuite platform. Others are add-on NetSuite ERP modules that, if selected, handle your unique business processes at an additional cost. The functionality of certain NetSuite add-on modules, including Work Orders and Assemblies, may be included in other NetSuite modules.
A NetSuite modules list (that includes the best) is:
Financial Management Modules
- Core Accounting software
- Fixed Assets Management
- Multi-Book accounting
- NetSuite Advanced Financials
- NetSuite SuiteBilling
- NetSuite Incentive Management
- Revenue Management
- OneWorld (Global Business Management)
- Dunning Letters
- Electronic Bank Payments
- NetSuite Planning & Budgeting
Analytics Module
Order Management Module
Procurement Module
Production Management Modules
- NetSuite Advanced Manufacturing
- Work in Process (WIP) and Routings
- Work Orders and Assemblies
- NetSuite Quality Management
Supply Chain Management Module
Warehouse & Fulfillment Module
Human Capital Management (HCM) Modules
- SuitePeople HR (human resources for workforce management)
- Suite People Payroll
- Suite People Performance Management
Professional Services Automation (PSA) Modules
Omnichannel Commerce / Suite Commerce
- SuiteCommerce
- SuiteCommerce Advanced
- SuiteCommerce InStore (Point of Sale)
- Suite Commerce MyAccount
- Connector
Customer Relationship Management (CRM) and CPQ Modules
NetSuite Advanced Financials is for budgeting and real-time variance monitoring for actual vs. budget, expense allocations, amortization, and statistical accounts.
The NetSuite Revenue Management add-on module for NetSuite accounting includes revenue recognition in compliance with accounting standards. It automates revenue scheduling, allocations, and reporting.
NetSuite SuiteBilling manages subscription billing from inception through the complete subscription lifecycle and includes recurring billing. The NetSuite Incentive Management module makes it easy to calculate sales commissions as incentive compensation accurately and quickly.
Businesses use NetSuite Planning & Budgeting for forecasting in addition to planning and budgeting. NetSuite SuiteCommerce unifies eCommerce and point-of-sale (POS) retail for an omnichannel experience.
SuiteAnalytics includes Analytics & Reporting business intelligence (BI) tools.
The Supply and Demand Planning module is also used for Production Management.
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Getting Access to NetSuite Modules
If your company is interested in getting access to one or a number of different modules offered by NetSuite, then you can license Oracle NetSuite modules on an individual basis, or as a bundle. You can also license an “Industry suite” of modules as a business management system. An industry suite of modules is a set of modules that are commonly used in a specific industry. These modules are designed to meet the unique software needs of companies that are members of a specific industry.
Many companies choose to license industry suites because they are very convenient and are usually quite well-suited to the specific requirements that the company has. The costs for each industry suite and for each module vary depending on edition type and functionality. With one exception for OneWorld, your company can license modules at any period during the duration of your NetSuite subscription period.
How to Remove Modules
If you license specific modules from NetSuite, you may find that you only need to use them temporarily. However, unlike adding NetSuite modules, you can only remove them during the contract renewal period. So, if you license 8 modules during your subscription period, you will be forced to pay for these modules for the duration of your contract period. Once the period ends, you can remove them from your plan.
However, because modules can only be removed at the contract renewal period, you should be careful not to license more modules than you need. Otherwise, you will end up wasting money. So, choose your modules carefully before you move forward with licensing them.
Selecting the Right Modules
To get the most out of your NetSuite package, it is very important that you select the right modules to include in your plan. There are several steps to selecting the right modules from a NetSuite module list.
First, you need to consider your industry. Depending on your industry, there is a good chance that NetSuite already has an industry suite that is perfect for your company. So, for example, if your company is a software company, then you should see if the NetSuite software industry suite will be ideal for you. If your company is in healthcare, then you should look at the NetSuite healthcare industry suite, etc. Because the industry suites are specifically designed for companies in a given industry, there is a very good chance the industry suite for your industry will meet all of your company’s needs.
After you have looked at the industry suites, you should determine if they will meet your requirements fully, or if you will need additional modules. If you need additional modules, then you should first consider the areas of your business where you need software assistance. Then, you should look at all of the additional modules that are available to find the ones that meet your missing requirements. You can use the master list above for reference.
Finally, after you have done these things, the last thing that you need to consider is cost. Keep in mind that if you only need a specific module temporarily, then the cost will be less than it would if you needed it for the full duration of the subscription period. Do not go over budget because, as mentioned above, once you license a module, you will be charged for that module for the rest of the subscription period.
Once you have the complete list of NetSuite modules that you will need, you can place your order and enjoy their many benefits.
Third-Party Add-on Modules with NetSuite Integration
In addition to considering NetSuite modules, expand your NetSuite software options to include third-party Oracle NetSuite integrations, including, NetSuite’s SuiteApp of the Year, award-winning AP automation for NetSuite from Tipalti.
Your business can choose the best AP automation software and finance add-ons for NetSuite from a third-party provider.
Tipalti AP Automation NetSuite Integration
Tipalti AP automation is a real-time, cloud-based NetSuite solution with seamless integration. It handles multi-entity and multi currency functionality with the NetSuite OneWorld module.
Tipalti’s AP automation software is AI-driven for end-to-end invoice processing with streamlined workflows. Tipalti accounts payable automation begins with self-service supplier onboarding, displays historical invoice and payment totals, and automates payment status through a Supplier Hub.
With Tipalti AI℠, it captures supplier invoice data, validates suppliers, automatically codes invoices, detects discrepancies in matching with POs and other invoice errors, and predicts approvers for automated approval routing.
Tipalti includes dashboards with metrics for real-time visibility in addition to spend analytics tools using Tipalti AI℠ and a digital assistant, Ask Tipalti AI℠ that’s enhanced with ChatGPT functionality.
Tipalti AP automation software helps your business prepare 1099-MISC and 1099-NEC information returns by tracking and providing reports for each supplier’s calendar-year payments. It also automates global regulatory compliance.
Conclusion
While the standard NetSuite ERP and CRM are very beneficial, there is a good chance that your company will need additional modules for certain business functions. Whether you choose to go with an industry suite or with a custom module package that you design yourself, the important thing is to make sure that you are getting software that will cover all of your essential business functions and help improve your bottom line.
With any NetSuite software package, the goal is always to streamline your business and to make your company run more efficiently. All of the modules that are listed above are extremely high-quality and are used by many businesses around the world. There is a very good chance that at least a few of them can help your business as well.
If you have any questions about which modules will be best for your business, about pricing, or about any other module-related issue, contact NetSuite today.
NetSuite customer service is excellent. They will provide you with the information that you need to make the right choices for your company about the basic ERP system and NetSuite modules.
Tipalti AP automation fills functionality gaps in the last mile of NetSuite. It will help your business achieve cost savings from efficiencies that increase profitability. Explore more in our eBook, “The Last Mile of NetSuite”.
