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NetSuite is an online service that enables companies to manage key business operations and processes through a single system. The software doesn't require any hardware, complex set ups, or maintenance fees associated with software or hardware. In addition, it does not require a large and upfront license fee.NetSuite software can be used to simplify enterprise resource planning (ERP) and to track financials, manage inventory, maintain customer relationship management (CRM) systems, and host eCommerce stores.