What is NetSuite ERP and how does it work with Ramp?

Running a business means juggling countless moving parts, including financials, inventory, orders, and more. Without the right tools, things can quickly get out of sync.

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NetSuite ERP offers a centralized platform to streamline these operations, providing a real-time view of your business activities. What’s more, pairing NetSuite ERP with Ramp further enhances efficiency by automating financial workflows and providing deeper insights.

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Let’s break down what NetSuite ERP is, how it works, and why integrating it with Ramp helps optimize business operations.

What is NetSuite ERP?

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At its core, NetSuite ERP is built to provide real-time financial insights, automate workflows across departments and business functions, and improve global operations with support for multiple subsidiaries, currencies, and compliance standards. All these capabilities add up to help businesses simplify complex workflows and scale efficiently.

How does NetSuite ERP work?

NetSuite is a cloud ERP system, which means users access the software through a web browser from the device of their choice. NetSuite’s multi-tenant cloud design ensures all user data is stored separately and securely; there’s no local or on-premises option to access NetSuite ERP, so you don’t have to configure your own servers or manually update the software.

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NetSuite’s centralized database connects finance, inventory, supply chain management, and more into one system, improving visibility and reducing bottlenecks and errors. Its extensive collection of additional modules offers custom workflows, dashboards, and processes, supported by intuitive drag-and-drop tools and regular software updates and upgrades.

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Beyond that, NetSuite’s cloud-based ERP software offers functionality that meaningfully improves your operations. Here’s how:

• Automation at its core: Streamlines time-consuming tasks like financial reconciliations and inventory insights, allowing your team to focus on growth and strategy rather than routine manual tasks
• Global readiness: Supports multiple currencies, languages, and tax regulations, making it particularly valuable for international businesses
• Org-wide consistency: Helps manage complex supply chains and standardize processes across subsidiaries, enhancing efficiency and consistency

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NetSuite's built-in business intelligence tools provide valuable insights through customizable dashboards and reporting options, helping you identify inefficiencies and opportunities. Role-based access ensures team members have exactly the tools and information they need—nothing more, nothing less.

Features of NetSuite ERP

NetSuite ERP offers a comprehensive feature set that emphasizes scalability. It’s designed to streamline operations and enable better decision-making.

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Here’s a breakdown of some of its core features:

• Accounting software: Manages the general ledger, simplifies tax compliance, and provides real-time data on cash flow and financial performance
• Financial management: Simplifies revenue recognition, month-end close, and regulatory reporting processes
• Global business management: Helps you manage multiple currencies, languages, and tax laws while offering real-time visibility across global subsidiaries
• Planning and budgeting: Supports detailed budgeting, forecasting, and scenario planning with advanced statistical models
• Inventory management: Provides real-time inventory updates in a single view, and tools like reorder alerts and cycle counts to maintain ideal stock levels
• Procurement: Optimizes procure-to-pay processes with vendor management, performance tracking, and automated purchase orders
• Customer relationship management (CRM): Delivers a 360-degree view of customers to improve lead management, sales forecasting, and targeted marketing
• Payroll: Automates earnings, deductions, and tax calculations, streamlines direct deposits and tax filings, and ensures compliance with employment laws

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Together, these tools eliminate fragmented systems and manual errors, giving your business the clarity and control you need in a single ERP solution.

Who uses NetSuite ERP?

NetSuite serves businesses of all sizes, from small businesses and startups to global enterprises. It’s particularly valuable for companies looking to scale efficiently or manage complex operations across international borders.

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NetSuite adapts to meet the unique demands of various industries, which include:

• Nonprofit organizations
• Retail and ecommerce
• Manufacturing
• Professional services
• Wholesale distribution
• SaaS and technology
• Food and beverage industry
• Advertising and digital marketing

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NetSuite’s versatility allows it to adapt to any business, providing the tools you need to improve operations and make more informed decisions no matter your industry.

NetSuite ERP integrations: Why they matter

While NetSuite is powerful on its own, integrations with third-party tools like Ramp can unlock its full potential. These integrations deliver additional functionality for specific needs, from automating business processes to increasing control and visibility.

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By extending NetSuite’s capabilities, integrations like Ramp enable you to further optimize your processes and reduce manual work, making the platform even more effective.

Why choose Ramp with NetSuite?

NetSuite provides a robust framework for financial management, while Ramp complements it with tools for enhanced automation and spend management. Here’s how Ramp’s features work with NetSuite ERP:

• Sync data in real time: Instantly update vendor data, bill payments, and tracking categories in Ramp, with all changes reflected in NetSuite
• Manage multiple subsidiaries: Oversee financial activity across entities, generate payments, and code transactions effortlessly within Ramp
• Classify transactions your way: Use NetSuite’s Custom Fields and Segments in Ramp for consistent and simplified transaction coding
• Amortize bills: Match your NetSuite amortization templates in Ramp’s accounts payable automation software to recognize bill payments over time
• Automate routine workflows: Set up rules to streamline coding, approvals, and receipt collection from platforms like Gmail, Lyft, and Amazon Business

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These features not only strengthen the integration, but also reduce redundancies, giving businesses a smoother, more efficient financial workflow.

Case study: How integrating Ramp with NetSuite streamlined accounting for Clearbit

Clearbit’s accounting team struggled with a 10-day month-end close, hampered by manual processes and delayed transaction postings in NetSuite. And while their legacy corporate card provider offered an integration, it was ineffective at best, creating additional work and slowing operations.

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When Clearbit adopted Ramp, its native integration with NetSuite helped automate transaction coding and reduced manual effort. Within two weeks, the system was fully operational, allowing the team to transition away from time-consuming reconciliations to more strategic, high-value work.

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The impact of implementing Ramp with NetSuite included:

• Faster time to close: Clearbit shortened its month-end close by over 60%, from 10 days to just three to four
• Automated coding: 100% of transactions are now automatically coded, ensuring accuracy
• Tighter headcount: The streamlined process allowed Clearbit to maintain a lean accounting team while focusing on strategic tasks
• Improved spend insights: Ramp’s integration provided clear visibility into spend data, enabling more effective expense management and comprehensive financial reporting
• Cost savings: Clearbit saved well over $50,000 in product savings and $6,100 in insights by using Ramp.

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“Ramp is literally plug-and-play with NetSuite. It saves us time and money, allowing us to focus on what matters most,” said Kay Coolican, Accounting Manager at Clearbit.

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Clearbit’s experience highlights how Ramp and NetSuite complement each other to simplify accounting workflows and improve your ERP implementation. Together, they offer businesses a practical, effective solution for boosting efficiency and getting deeper insights from their financial metrics.

Maximize efficiency with Ramp and NetSuite

Ramp and NetSuite ERP are designed to work hand in hand, offering businesses the tools they need to streamline financial operations. By combining NetSuite’s centralized platform with Ramp’s advanced automation, businesses can improve accuracy, save time, and gain greater visibility into every angle of their financial operations.

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Learn how Ramp and NetSuite can help your business operate more efficiently and focus on what matters most: growing your business.