NetSuite OpenAir PSA 2024: Features, Benefits, Cost & Key Value Propositions

Service-based businesses from all over the world are now leaning towards automation suites to do more, serve more, and gain more. Professional Services Automation (PSA) already opened up Pandora’s box full of growth opportunities. NetSuite OpenAir PSA solution came as the most complete, comprehensive, and powerful automation suite for service sector brands. 

NetSuite automation through a customizable ERP suite is already popular among businesses. But OpenAir further extends these capabilities with a sophisticated and rich toolset that can be configured as per the customer-focused service needs. While thousands of companies across every niche use NetSuite OpenAir, every one of them finds it uniquely adjusted to their business needs. This happens because of the flexible configuration allowed by OpenAir. 

Thanks to NetSuite OpenAir integration, businesses no longer need to depend on expensive custom code or struggle to string together different parts of a system for the desired output. Instead of feeling locked in with a stagnant software system, NetSuite OpenAir allows you to try different configurations and variations to streamline your services and processes. 

Here throughout this small blog post, we are going to shed light on different aspects of this popular PSA suite. From explaining what is NetSuite OpenAir to its key modules, features, benefits, cost, and some helpful answers to common queries, we will explain it all.  

What Is NetSuite OpenAir?

NetSuite OpenAir is a Professional Services Automation (PSA) suite that is widely considered to be the best-in-class toolset. This PSA software system has been designed keeping in mind the requirements of professional services organizations across all sizes and niches. The best thing is NetSuite OpenAir PSA allows integration with any leading enterprise resource planning (ERP) solution. 

NetSuite OpenAir helps with separate modules such as project management, resource optimization, project accounting, time management, expense management, billing and invoicing, revenue recognition, etc. it ensures end-to-end automation and comprehensive data visibility across the systems and processes. 

Leading NetSuite implementation services can further help you to get the most out of this robust automation suite. NetSuite OpenAir PSA helps companies to draw real-time data-driven insights, enhance profitability from projects, optimise utilization of resources and make timely, data-driven business decisions to propel growth. 

Some of the key ways NetSuite OpenAir PSA measurably transforms business operations include the following. 

• Optimising resource utilization, return from projects, and ensuring timely project delivery and at the same time reducing IT costs, pulling down project accounting needs and corresponding overhead cost, and streamlining the cycles of billing and invoices. 
• Enhancing precision and accuracy of invoices and billing, automating revenue recognition, and boosting data visibility for any service-sector company. 
• Ensuring anytime, anywhere access through the cloud and providing support to the users anywhere anytime based on their location or the go or at the sites of clients. 

What Problems Does Oracle NetSuite OpenAir Solve? 

NetSuite OpenAir comes equipped with a wide range of applications and tools that are designed to cater to every step of the life cycle of professional services. It comes as a Software-as-a-Service toolset and provides a user-friendly NetSuite OpenAir integration manager and dashboard. Among the cluster of applications for service sector companies, it offers apps to manage timesheets, projects, resources, and expenses. 

The PSA toolset also comes loaded with value-added applications required for billing, invoicing, accounting, and data analytics. The best thing is NetSuite OpenAir is fully optimized to operate through mobile devices. The users can also access it through browsers by using NetSuite OpenAir Connect and they can access the backend systems of the company with the web-based platform. 

NetSuite OpenAir became quickly popular as a PSA solution among professional services firms across all verticals and niches. But as of now, it has mostly benefited large-scale and global brands. Leading NetSuite consultants always suggest small organisations with less than 500 employees use NetSuite SRP (Services Resource Planning) which is more suitable for small-scale operations. 

Globally NetSuite OpenAir and other PSA solutions from NetSuite are being used by more than 1,500 companies that offer different types of professional services to customers. Among all these NetSuite PSA offerings, OpenAir stands taller because of the hundreds of features covering almost every aspect and ensuring ultimate flexibility of configuration. 

Let’s explain the NetSuite OpenAir modules to understand how they solve different types of business problems with ease. 

• Portfolio and Project Management

NetSuite OpenAir project management is the most popular and impressive module providing a competitive edge to the platform. In comparison to other similar SaaS platforms in the market, it supports the largest range of portfolio and project management features. 

• Resource Management 

Again, with this module also NetSuite OpenAir enjoys a competitive edge as it covers the bulk of the characteristics and features needed for resource planning and resource scheduling. Almost all the features and characteristics central to resource management and planning are covered by this NetSuite OpenAir module. 

• Contact and Contract Management

NetSuite OpenAir also offers extensive support for most of the features of Opportunity, Contact, and Contract Management. In comparison to other Professional Services Automation systems in the competition, NetSuite OpenAir has a considerable edge. 

• Time and Expense Management

When it comes to time and expense management in the service sector, NetSuite OpenAir provides great support covering 98% of key Time and Expense Management features. This module offers a lot of customisable controls to help service sector companies manage both time and expenses more efficiently. 

• Budget & Billing

This is another successful module from NetSuite OpenAir and this module provides support for the vast majority of features and functionalities. It offers real-time billing and cost estimation functionalities. It also provides both long-term and short-term budgeting features and functionalities. 

• Collaboration & Analysis

In the whole service sector managing knowledge and data-driven insights to deal with the evolving competition is extremely important. This is another area where managing knowledge and data-driven insights in a streamlined manner and sharing real-time data analytics can be a little consuming. NetSuite OpenAir provides pretty robust support for the maximum features required by this module.

• Third-Party Integration

One of the major reasons behind the increasing popularity of NetSuite OpenAir is arguably this module. Ease of Third Party tools Integration is a key attribute that NetSuite OpenAir extensively covers. From custom configuration to custom integration of third-party tools, this module facilitates everything. 

NetSuite OpenAir Professional Services Automation Features 

NetSuite OpenAir comes with a load of valuable features facilitating the smooth automation of professional services. Here below we mention all the NetSuite OpenAir features. 

• Pre-packaged integration of third-party software 
• Report for labor costs
• Access through the mobile app
• Import and export of data 
• API for security enhancement 
• Sales Collaboration
• Data Analytics Dashboard
• Skill-based Profile Management
• Expense Management
• Timesheet management 
• Reporting and Dashboards
• Multi-Company synchronisation 
• Revenue Recognition
• Resource Management
• Project management
• Customer Billing and Invoicing

NetSuite OpenAir is a leading Professional Services Automation tool designed to cater to the needs of service organizations across various industries. This robust platform offers a wide range of functionalities that streamline project management, resource allocation, expense tracking, and financial operations, among others. Below, we explore the key features of NetSuite OpenAir that help organizations improve their service delivery, operational efficiency, and profitability.

1. Timesheet Management

NetSuite OpenAir revolutionizes how organizations handle timesheet management by providing an easily accessible online platform. Employees can enter their time remotely from anywhere in the world, using any device with internet connectivity. This flexibility is important for modern organizations with global or remote teams.

The timesheet feature is integrated within OpenAir’s project management module, allowing real-time updates and comparisons against key project deliverables. This integration helps maintain up-to-date project timelines and budget statuses, which are essential for managing client expectations and project delivery.

OpenAir’s timesheet management allows detailed tracking by project, task, and phase. Employees can add comments or descriptions to their entries, thereby enhancing the granularity and accuracy of the time reporting. This level of detail is vital for analyzing project performance and improving future project estimates.

2. Resource Management

One of NetSuite OpenAir’s strengths lies in its global resource management capabilities. The platform offers features specifically designed to streamline the process of resource allocation across different regions and projects. This is particularly beneficial for multinational companies looking to optimize their workforce effectively.

Through its sophisticated resource management system, OpenAir allows for the tracking and allocation of resources via multiple booking times. This feature helps project managers with in-depth visibility into resource utilization. 

3. Expense Management

OpenAir automates the entire cycle of expense management, from submission to approval. This automation reduces the administrative burden on employees and speeds up the reimbursement process, improving employee satisfaction.

The expense management feature is tightly integrated with project accounting and invoicing modules, ensuring that all expenses are accurately captured and billed to the appropriate projects. This integration is crucial for maintaining financial integrity and avoiding discrepancies in project budgets.

4. Project Management

OpenAir facilitates effective collaboration among project team members and stakeholders. The platform provides tools that help maintain current and accurate project status, which is accessible to all relevant parties. This transparency helps in managing expectations and fosters a collaborative work environment.

The project management module includes tools to proactively identify and resolve potential threats to project success. By allowing project managers to foresee possible issues and react promptly, OpenAir helps ensure projects are delivered on time and within budget.

Improved client engagement is a direct benefit of using OpenAir’s project management features. The platform ensures that all client deliverables are met with high standards, thereby enhancing client satisfaction and loyalty.

5. Reporting and Dashboards

OpenAir provides comprehensive reporting and dashboard capabilities that offer real-time, on-demand access to data across all modules. These tools are essential for making informed business decisions and for reporting to stakeholders.

Users can customize dashboards to display relevant project metrics and key performance indicators (KPIs). These graphical representations help simplify complex data sets and provide at-a-glance visibility into the health of projects and overall business performance.

The advanced reporting features include predictive analytics, which helps forecast future trends based on historical data. This capability allows organizations to anticipate challenges and adjust strategies proactively.

6. Invoicing and Billing

OpenAir’s invoicing and billing module streamlines the financial aspects of service delivery. From bid preparation to time and expense tracking to final billing, the platform covers all financial interactions, which enhances the accuracy and timeliness of client invoicing.

The platform supports operations across different currencies and business entities, making it ideal for global companies. This feature simplifies the management of financial operations in diverse geographic locations.

7. Project Budgeting

OpenAir allows for detailed tracking and management of project budgets. Managers can set initial budget forecasts and track actual spending, comparing various scenarios to ensure projects stay financially on track.

Powerful budget management tools are complemented by visual reporting capabilities, which provide financial leaders with clear insights into financial performance and resource allocation. This visibility is important for maintaining budget compliance and for making timely adjustments to project plans.

But, What’s New With NetSuite OpenAir 2024.1?

The new releases of OpenAir 2024.1 and OpenAir Mobile 5.1 bring significant improvements to the NetSuite OpenAir suite. These new updates promise to enhance the functionality and user experience of OpenAir, providing new tools and features that streamline project management and improve security measures. Here’s a closer look at what to expect:

Project Center Enhancements

The Project Center will now allow project managers to search for resources that match specific criteria such as profile, job code, and availability. This feature simplifies the process of finding the best staffing fit for projects. Users can scroll horizontally through their project timelines, offering a smoother and more intuitive way to manage project schedules from a single screen.

Navigation Shortcuts

Improve your efficiency with navigation shortcuts that let you quickly access your favorite pages within OpenAir or external URLs. Add shortcuts to any page within OpenAir, including new record forms and specific record tabs. These can be organized and accessed from any page, significantly reducing navigation time.

Two-Factor Authentication

With the introduction of two-factor authentication, OpenAir increases security by adding an extra verification step during sign-in. Users will verify their identity using a time-based one-time password from an authenticator app. Account administrators will have the ability to control who must use two-factor authentication, ensuring compliance with security policies.

OpenAir Mobile 5.1 Features

OpenAir Mobile 5.1 focuses on enhancing mobile accessibility and functionality:

Offline Functionality:

• Draft Inbox: Users can plan time and expenses on the go, even without an internet connection. This feature ensures that all entries are captured accurately and timely, regardless of connectivity.
• Draft Management: Time entry and receipt drafts can be managed in a draft inbox and, when ready, easily dragged into time cards or added to expense reports for completion.

Streamlined Mobile Experience:

• Drag-and-Drop Time Entries: OpenAir Mobile 5.1 will introduce a drag-and-drop feature for moving time entries from drafts to time cards, simplifying the process of completing timesheets.
• Enhanced Expense Reporting: Similarly, receipt drafts can be quickly added to expense reports, streamlining the expense management process.

NetSuite OpenAir Key Benefits 

Now that we have explained the key features of NetSuite OpenAir and all the positive attributes it offers, it is time to have a closer look at some of the key advantages it provides to business users.   

• NetSuite OpenAir comes with its own free mobile app version that can be accessed through both Android and iOS devices. This ensures flexible, device-independent, and location-independent access to timesheets. 
• NetSuite OpenAir provides an array of ready-to-use user roles, dashboards, metrics, and reports as per the implementation needs. There are nearly a hundred pre-configured and ready-to-use reports. OpenAir also provides a multitude of templates so that new projects can be created with ease as per different billing rules. 
• As far as controlling and allowing access to different features and tasks are concerned, the role management of NetSuite OpenAir comes in handy. It provides a robust platform focused on user roles and the level of information required by each individual. 
• NetSuite OpenAir makes tracking task completion by each employee easier through a powerful dashboard feature. Each employee role has a pre-built dashboard loaded with charts and reports specific to their tasks and responsibilities in the company.

NetSuite OpenAir Cost

First of all, let us mention here that NetSuite OpenAir doesn’t provide any trial version. This SaaS software platform comes with two different pricing plans such as Professional Suite for Small and Medium Business (SMB) segment and Enterprise Suite. The latter also offers a Resource Management module. 

The Professional Suite for SMBs comes with a price tag of $399/month and an additional $49 per user per month. The Enterprise Suite that comes loaded with Resource Management is priced at $899 per month and an additional $49 per user per month. 

Why Is NetSuite OpenAir Better? 

NetSuite OpenAir for the entire service sector brings a lot of promises for streamlined operation with great flexibility, cost control, and efficiency. For a company whose core business is running service-based projects, tracking the progress of the project, resource utilisation and revenue generation become very important. Not a single software solution in the market today provides all three of these simultaneously. This is the most competitive value proposition offered by NetSuite OpenAir. 

Since modern service-based organisations have their workforce scattered across locations, roles, and workplaces including client-side workstations, it has become very much important for organisations to track projects and update all activities flexibly. On top of everything, OpenAir is powered by the widely acclaimed and one of the leading ERP systems in the world called Oracle NetSuite. 

NetSuite OpenAir PSA offers a complete and fully loaded software automation system with powerful and robust capabilities. If you run a business of software-based service projects, this NetSuite PSA offering will give you complete peace of mind regarding operational control and process optimisation. 

VNMT Offers Implementation & Optimization For OpenAir & Support

VNMT, as one of the leading NetSuite alliance partners, offers expert consultancy and optimization support for NetSuite OpenAir PSA. With years of NetSuite ERP customisation, development, and implementation experience, the NetSuite professionals at VNMT will help you deploy OpenAir in a way that benefits your business operations. 

With every consultancy and implementation project, VNMT keeps its focus on meeting organisational constraints and market opportunities to the fullest. For implementing any of the NetSuite SaaS products and modules we analyse your business operation first to tailor-fit a solution that your business can be benefited from.