NetSuite modules and add-on software expand the functionality of NetSuite ERP, allowing users to optionally choose only those NetSuite add-on modules and add-ons that fit their business.
Although types of ERP systems vary, NetSuite is primarily software for a small business or a mid-market company that includes accounting. Oracle NetSuite is a cloud-based ERP system licensed by its users through a SaaS pricing model that includes the number of users and NetSuite modules selected.
Through ERP integration with add-on modules and third-party automation software, NetSuite users can make the NetSuite ERP system even more efficient, cost-effective, and functional through digital transformation that replaces manual processes.
What are NetSuite Modules?
NetSuite modules are internally developed software solutions licensed to its customers that augment the core ERP. Businesses optionally select and use modules to perform specific functional business processes through a unified NetSuite ERP system with a single database.
Selected NetSuite modules help business teams accomplish finance & accounting, inventory management, procurement, manufacturing, warehousing, customer relationship management (CRM), human resources, and other business-specific workflows.
Why Do Teams Enhance Their NetSuite ERP System with Modules and Add-Ons?
Teams enhance their NetSuite ERP system with modules from NetSuite and integrate NetSuite add-ons from third-party software providers to achieve functionality that’s not included in the core ERP system. Business teams gain cost-saving efficiencies, real-time visibility, and financial controls through automation software add-ons, integrating with NetSuite.
The Complete List of NetSuite Modules for 2024
A key NetSuite modules list, including brief descriptions of each module, follows. NetSuite provides a more comprehensive NetSuite modules list.
1. Fixed Assets Management Module
The NetSuite module for Fixed Assets Management is used for property, plant & equipment accounting for asset management and financial reporting. This NetSuite fixed asset module automates depreciation and complex lease accounting with amortization, details purchased equipment in an up-to-date asset list, and tracks leased equipment agreements.
2. Revenue Management Module
The NetSuite Revenue Management module is also referred to as NetSuite Revenue Recognition. NetSuite Revenue Management module helps your company implement GAAP and IFRS accounting standards to properly record revenue in the right accounting period. The Revenue Management Module is grouped under the NetSuite Financial Management product.
3. CRM Module
The NetSuite module for Customer Relationship Management (CRM) handles sales force automation (SFA) and customer service. With NetSuite CRM, your business will manage contacts and sales and marketing processes for leads to current customers. The module handles quotes, commissions, sales forecasts, and partner relationships.
You can choose to integrate NetSuite with Salesforce instead or integrate lead prioritization software. NetSuite also offers a Marketing Automation module that works with the NetSuite ERP and its CRM module.
4. Procurement Module
The NetSuite Procurement module includes Source Management for vendor selection and purchase management for approved suppliers with prenegotiated contracts. It provides visibility into vendor performance and company spending.
5. NetSuite OneWorld Module
NetSuite OneWorld is a NetSuite Financial Management module for global business management and reporting for multinational companies with multi-subsidiary operations. NetSuite OneWorld can perform local currency accounting and provides global tax and regulatory features.
6. Inventory Management Module
NetSuite Inventory Management module helps your business optimize inventory levels and provides real-time visibility for all inventory locations and sales channels. It includes multi-location order fulfillment.
What are Netsuite Add-Ons & Are They Different from Netsuite Modules?
NetSuite add-ons are cloud-based NetSuite-related software developed either by NetSuite or by third-party developers as add-on software for seamless NetSuite integrations. NetSuite add-ons are different from optional NetSuite functional modules provided to NetSuite users, although all types of added software are available for an extra monthly SaaS cost.
For example, Nanonets Flow AP automation is third-party add-on workflow automation software for digital invoice data extraction and invoice processing, including invoice matching software, automated approvals, and global payments.
What are SuiteApps and How Are They Different From Netsuite Modules?
SuiteApps, developed on the NetSuite Cloud platform, are software applications from NetSuite or third-party software developer partners or built specifically for your company. SuiteApps expand the functionality of the core NetSuite system or customize it for an industry.
In contrast, NetSuite ERP modules are the 13 functional integrated units of NetSuite software built and sold exclusively by NetSuite or its NetSuite Solution Provider partners (functioning as a VAR). Each NetSuite module performs a set of specific business processes. Modules may be selected and optionally added to your core NetSuite ERP system to accomplish your business needs.
When Modules Alone Don’t Cut It: What are Netsuite Integrations?
With NetSuite ERP modules added to your core NetSuite ERP software, you’ll only have the basics you need to cover the functional processes specific to your business. Additionally, your business needs NetSuite add ons from third-party software providers, also known as external NetSuite integrations.
These advanced third-party automation solutions will future-proof your finance function with AI and digitization. Your business will get more from its NetSuite ERP through significant efficiency and operational cost savings.
Where to Find the Best Netsuite Modules for Your Organization
Find the best NetSuite modules for your business needs in the Products section of the NetSuite website. A NetSuite sales team member or NetSuite solution provider partner will help you make module decisions as part of your software evaluation and provide a custom price quote.
How to Make The Most of Your Netsuite Modules
To optimize your NetSuite modules, budget $30,000 – $150,000+ for training, data migration, customization, and implementation help from a knowledgeable NetSuite consultant. With the NetSuite OneWorld module, consider third-party add-on AP automation software for your global, multi-entity, and multicurrency company.
Once your company is actively using NetSuite, consult the NetSuite User Guides and online Help resources.
How Much Do Netsuite Modules Typically Cost?
For the exact cost of a NetSuite ERP module at today’s price, get a custom quote from the NetSuite sales department. Typically, each NetSuite module costs $300 to $800 per month, in addition to the Base ERP package cost of $999 per month.
Packaging & Bundling Your Netsuite Modules
When your company selects software packages to bundle and integrate with its core NetSuite ERP software, first consider industry-specific bundled versions of NetSuite and any extra specific NetSuite modules that your company needs to achieve basic functional coverage of its business processes.
Any NetSuite-developed SuiteApps and NetSuite modules can be bundled into a SaaS software plan through the NetSuite sales team or a value-added reseller (VAR) in NetSuite’s consulting network partnership.
To get the best pricing, consider choosing a NetSuite SuiteSuccess edition for your industry and company size, which includes a bundle with the core NetSuite ERP, the CRM module, and a group of several standard NetSuite module list NetSuite packages that you’ll need in your type of business. NetSuite ERP offers small business ERP standard plans for up to 30 user licenses, and Premier plans for larger companies with more users.
Summary
NetSuite modules, provided by NetSuite for an additional cost in its SaaS pricing plan, include optional NetSuite ERP-related software packages and the integrated NetSuite CRM module to cover the basics for each functional business process your company needs.
NetSuite and its third-party partners offer SuiteApp NetSuite add on software that’s seamlessly integrated in a unified database system with the core NetSuite ERP and any selected modules its customers use. When selecting and evaluating a third-party add-on solution, learn more about Nanonets Flow for NetSuite AP automation.
