A Guide to NetSuite Modules

NetSuite is a powerful tool. It can automate business processes, calculate complex financial data, optimize warehouse inventory management, and a lot more. 

However, because so many different types of businesses use NetSuite, it doesn’t automatically come with every single functionality. 

You can customize Netsuite to fit your business needs using NetSuite modules. These are optional, pre-built functionalities – you can license as many (or as few) as you need.

What Are NetSuite Modules? 

NetSuite modules are optional extensions of the core platform. They can handle everything from advanced accounting to international eCommerce solutions and supply chain optimization. 

To enable the functionality of a specific module, the NetSuite user has to purchase a license for it. Luckily, they’re already built into NetSuite, so there’s no additional integration or connection required. 

While all of the modules are grouped by industry — such as financial management, inventory and order management, etc — you can pick and choose exactly which modules you want. You don’t have to purchase all of the modules for one industry, it’s perfectly fine to only license one or two! 

How Much Do NetSuite Modules Cost? 

The price of NetSuite’s modules depends on the NetSuite edition your business has and whether you’re going to bundle it with other modules. There isn’t one single price for each module, just like there isn’t one general price for NetSuite. 

To price out how much NetSuite modules are going to cost for your business, it’s best to speak with your NetSuite Solution Provider, as they’ll be able to provide a proper quote. 

What Modules Does NetSuite Come With? 

NetSuite comes standard with the CRM and ERP modules. If your business requires any functionalities beyond these, you’ll need to look into purchasing additional NetSuite modules. 

NetSuite Customer Relationship Management Module 

• NetSuite CRM – Manage every facet of customer relationships with this module: customer service interactions, marketing automation, recent communications, and more are all included with this module. You can provide quotes, track sales, and even forecast sales. 
• NetSuite Contract Renewals – Instead of having an employee responsible for drawing up new contracts, this module automates that process.  
• NetSuite Incentive Compensation – This module makes sales rep compensation easy and transparent. You can create rules for commission or other incentive-based compensation, including complex and tiered setups. Compensation can be based on quotas, quantities, service contracts, and profitability margins. 
• NetSuite CPQ – Sales staff can accurately configure, price, and quote even the most complex products. Configuring detailed bills of materials and routing instructions for each product helps you to reduce manufacturing costs and increase efficiency. 

NetSuite Enterprise Resource Planning (ERP) Module

The built-in ERP module comes with a lot of functionalities, a few of the top ones include:

• Marketing automation – Automate your entire marketing strategy, from lead qualification to campaign building and conversions. 
• Accounting – While there are advanced financial modules available, NetSuite comes standard with a decent amount of accounting features. This includes general ledger, accounts receivables, accounts payable, and compliance management.
• Financial planning – NetSuite includes flexible modeling capabilities to help you and your company plan out budgets, sales, and operating plans so you can optimize performance. 
• Payroll & timesheet management – Allow employees to easily fill out their timesheets, whether they’re in the office or not. Plus, NetSuite can calculate earnings, deductions, company contributions, and taxes automatically so employees only see accurate data. 
• Inventory management – NetSuite comes with basic inventory management: dynamically replenish forward pick locations, move inventory across bins, and release and resolve cycle count plans.  
• Order fulfillment – Optimize shipping with NetSuite’s system-directed picking and packing. 

What Modules Are Available in NetSuite? Here’s a Full List 

Need more than the functionalities mentioned above? Then you’re going to want to check out this full list of Netsuite modules. 

You can pick and choose any modules from the lists below to build your perfect cloud software solution. For example, you don’t have to purchase all of the financial management modules – if you just want Advanced Financials and SuiteBilling, you can license those two. 

NetSuite Financial Management Modules 

Need advanced accounting functionalities? What about help with planning, budgeting, or revenue management? You’re going to love NetSuite’s financial management modules. 

You’ll be able to handle any accounting and financial tasks, plus you’ll gain real-time insights into your company’s financial performance. 

Financial management modules include:

• NetSuite Advanced Financials – Expands on the regular financial capabilities NetSuite comes with, including compliance, financial modeling, and quicker budgeting cycles. 
• NetSuite SuiteBilling – This module makes billing processes quicker, more efficient, and more accurate, helping you boost cash flow and improve customer retention. 
• NetSuite Revenue Management – Tighten up your revenue allocations and compliance and ensure your company financials are ready for any potential auditing.
• NetSuite Planning & Budgeting – NetSuite’s market-leading predictive analysis, reporting, and planning are vital to giving you an accurate overview of your company’s financials. 
• NetSuite AP Automation – Automate the invoice-to-pay process to reduce accounts payable processing costs and increase efficiency. 
• NetSuite Multi-Book Accounting – Automatically post the same business transaction records to multiple books at the same time with this module, even if they’re in different currencies. 
• NetSuite OneWorld – This module is for global business management, as it supports multi-currency and multi-language operations. Plus, it includes global tax management for over 110 countries. 
• NetSuite Dunning Letters – Streamline your collections process by automating your dunning processes. You can create multiple dunning letter templates and customize escalation points. 
• NetSuite Fixed Assets Management – Whether you need fixed asset management for company-owned or leased assets, you can manage fixed assets using flexible depreciation and amortization schedules. 
• NetSuite Electronic Bank Payments – Let NetSuite handle all of your banking issues, from customer refunds to check fraud prevention and automated customer collections. 

NetSuite Inventory and Order Management Modules  

Gain insight into real-time inventory numbers, whether your warehouses are spread across different cities or multiple states. Ultimately, NetSuite’s inventory and order management modules aim to help your business increase profits and reduce operating costs. 

• NetSuite Advanced Inventory Management – While NetSuite comes with basic inventory management, this advanced inventory module adds complex inventory management functionalities, including multi-location inventory management, demand-based inventory replenishment, matrix item, lot and bin management, and serialized inventory. 
• NetSuite Advanced Order Management – Go beyond basic order management with this module, which automates order promising, allocation, and orchestration and execution processes. 
• NetSuite Grid Order Management – Does your company work with multi-attribute SKUs? This module simplifies order entry and management for them. 

NetSuite Commerce Modules 

NetSuite’s commerce modules are perfect for any retail business, whether it’s solely brick-and-mortar, all online, or offers an omnichannel retail experience. Some of these get pretty advanced, so you’ll want to evaluate your business needs before deciding which commerce module is the best fit. 

• NetSuite SuiteCommerce – SuiteCommerce is NetSuite’s comprehensive eCommerce solution, capable of handling everything from a local business to enterprise sales. SuiteCommerce allows you to set up an eCommerce website that’s responsive, easy to use, and will pull all of your data right into NetSuite. 
• NetSuite SuiteCommerce Advanced – This is the highest level of NetSuite’s eCommerce functionalities. You have full access to the source code of your website, so it’s 100% customizable. 
• NetSuite SuiteCommerce InStore – This module gives brick-and-mortar retailers access to mobile POS transactions, cloud software that can be used on any device, and real-time product inventory and sales data. Whether you want to use this software on tablets at a checkout counter or allow your sales staff to carry around mobile devices, you have all the flexibility you need. 
• NetSuite SuiteCommerce MyAccount – This module lets business buyers perform some tasks online on their own, such as paying invoices, viewing account balances, checking order status, and filing support cases. This way, they don’t have to wait for your business hours to complete a few simple things. 
• NetSuite Connector – This module sets up data mapping between NetSuite and all POS systems, eCommerce storefronts, online marketplaces, and third-party logistics providers. 

NetSuite Professional Services Automation (PSA) Modules 

NetSuite’s PSA modules are ideal for companies with project-based work. You’ll be able to better allocate resources, manage complex projects, and optimize billable hours. 

• NetSuite SuiteProjects – Improve project management, job costing, and resource allocation with this PSA solution. 
• NetSuite Project Management – This takes project management to the next level – you’ll be able to manage project schedules, project billing and revenue, assign resources to tasks, and learn more about project profitability.
• NetSuite OpenAir – This is the PSA solution for enterprise-level companies. It can handle complex projects while providing real-time visibility into each project. 

NetSuite Supply Chain Modules 

NetSuite’s supply chain modules were designed to help your business cut costs, maximize resources, and improve profit margins. 

• NetSuite Procurement – Manage vendors and purchasing with real-world data and artificial intelligence to help your business save money and time. 
• NetSuite Warehouse Management System – This module helps you optimize every aspect of your warehouse, from up-to-date inventory visibility to quicker order fulfillment and more accurate mobile warehouse management. 
• NetSuite Demand Planning – Make better data-informed decisions with this module, which helps predict product availability, optimal inventory levels, and more. 
• NetSuite Quality Management – This module ensures you won’t let quality assessment fall behind. You can define custom testing parameters and set up triggers or conditions to start an assessment. 
• NetSuite Work in Process (WIP) and Routings – Worried about overutilization? What about processing times that have gotten a bit too long? This module can help you organize all of that and more. 
• NetSuite Work Orders and Assemblies – Gain full control over your production process with this module. It’s best for companies that make products with multiple components. 
• NetSuite Advanced Manufacturing – Stop using disjointed systems for your manufacturing process and, instead, replace them with this one, simple cloud solution. Organize your shop floor, boost production capacity, and optimize resource utilization all from NetSuite. 

NetSuite Human Resources Modules 

NetSuite’s HR modules integrate well with its other functionalities, providing a source of truth for all internal and external data. 

• NetSuite Payroll – Streamline your payroll processes by automating payments for both employees and contractors, monitoring attendance, and handling deductions and taxes. 
• NetSuite SuitePeople HR – SuitePeople is NetSuite’s robust HR management module. You’ll gain access to real-time HR and financial analytics, payroll, and budget. 
• NetSuite SuitePeople Performance Management – This module is great if you’re looking to add on employee reviews and goal tracking. 
• NetSuite SuitePeople Workforce Management – Make workforce shift scheduling easy with this NetSuite module, which also helps with capturing time and attendance and calculating wages. 

Need help figuring out which NetSuite modules you need? Contact CrossCountry Consulting today.