Construction for NetSuite

NetSuite for Construction is a cloud-based Enterprise Resource Planning (ERP) solution designed to improve operations within the construction industry. It integrates various functions such as project management, accounting, procurement, and customer relationship management into a unified platform, providing real-time visibility and control over construction projects.

NetSuite offers specialised tools for the construction sector, including:

• Job Costing: Accurately estimate and track labour, materials, and overhead costs from project inception to completion.
• Change Order Management: Efficiently manage and document changes in project scope, ensuring proper billing and budget adjustments.
• Retainage Management: Handle contract retainage rates, facilitating retainage claims and ensuring compliance with contractual terms.

These features enable construction firms to maintain profitability and adhere to project timelines

Yes, NetSuite offers flexible integration capabilities with a wide range of third-party construction applications. At OSSM, we work with clients to assess their existing systems and, where required, support integrations that enable real-time data flow between platforms. This helps improve accuracy, reduce duplication, and enhance overall project visibility – whether you’re using specialist tools for estimating, site management, or compliance.

Absolutely. NetSuite’s scalable architecture caters to businesses of all sizes, from small contractors to large construction enterprises. Its modular design ensures that companies can tailor the system to their specific needs, supporting growth and complexity over time.

NetSuite’s construction-specific accounting features include:

• Project-Based Accounting: Track revenue and expenses at the project level, ensuring accurate financial reporting.
• Revenue Recognition: Automate revenue recognition in compliance with industry standards.
• Work-in-Progress (WIP) Reporting: Gain insights into ongoing project costs and profitability.

These capabilities help construction firms maintain financial accuracy and compliance.

NetSuite provides real-time dashboards and reporting tools that offer comprehensive views of project status, budgets, and timelines. This transparency enables project managers to make informed decisions, identify potential issues early, and keep stakeholders updated.

Implementing NetSuite involves several key steps:

• Needs Assessment: Evaluate the specific requirements of your construction business.
• Customisation: Tailor NetSuite modules to align with your workflows.
• Data Migration: Transfer existing data into the NetSuite system.
• Training: Educate your team on using the new system effectively.
• Go-Live Support: Provide ongoing assistance during the transition period.

Partnering with experienced NetSuite consultants such as OSSM can facilitate a smooth implementation process.

NetSuite’s pricing is subscription-based and varies depending on factors such as:

• Number of Users: The more users, the higher the cost.
• Modules Selected: Additional modules for construction-specific features may incur extra charges.
• Customisation and Integration: Tailoring the system to your needs can add to the expense.

Please feel free to contact us for a customised quote based on your business requirements.

NetSuite manages construction payments by automating processes such as:

• Progress Billing: Generate invoices based on project milestones.
• Retainage Tracking: Manage withheld amounts until project completion.
• Vendor Payments: Process payments to subcontractors and suppliers efficiently.

This automation reduces administrative workload and ensures timely payments.

NetSuite offers various support options, including:

• Customer Support: Access to a dedicated support team for troubleshooting and assistance.
• Training Resources: Online tutorials and documentation to help users get the most out of the system.
• Community Forums: Engage with other NetSuite users to share insights and solutions.

OSSM Support & Masterclasses: At OSSM, we go a step further by offering ongoing consultancy and free NetSuite masterclasses. These sessions are designed to help construction businesses deepen their understanding of the system and discover ways to get even more value from their ERP investment.

NetSuite is hosted globally in data centres all around the world so you can be sure your data is backed up securely and always accessible.