Have you considered whether your software is adequate to meet the evolving demands of rapid business growth? The faster your company is growing, the more important it is to have technology that can grow with you. Efficient systems can drive expansion and make it happen more smoothly. Choosing the ideal financial and accounting system is a major business decision and NetSuite may just be the right choice for you.
What is NetSuite?
NetSuite is a popular business solution based in the cloud. It is an integrated suite that enables companies to manage all of their entire business processes in a single, centralised system. It is a good option for businesses of all sizes and in many industries, trusted by over 50,000 organisations worldwide.
NetSuite has very strong modules for things like accounting, supply chain, e-commerce, CRM and much, much more. It makes everything simpler, recording transactions and automating many processes that would otherwise be time-consuming. With a single, central database, all your company information is unified. This can lead to unique insights that could help you make better-informed decisions.
Benefits of NetSuite for Fast-growing Companies
It Is Easily Scalable at Pace
Once you move into the NetSuite ecosystem, the investment lasts for years. It is an ERP with worldwide renown for its superb scalability. You won’t need to re-platform because you can simply add and remove applications and modules as needed. NetSuite also has support for multiple currencies, tax regulations and languages to enable expansion into other territories through NetSuite OneWorld.
NetSuite also adapts to horizontal growth, enabling you to add more users. The platform is designed to suppress any limitations that may hamper growth. The pricing is also scalable as you only pay for the number of users you have and the modules you use. This is a key advantage of a Software-as-a-Service (SaaS) subscription package.
It’s Is Highly Customisable to Suite Niche Business Requirements
NetSuite is an extremely flexible platform with deep customisation options. This helps reduce costs and optimise time in many ways. It contains advanced ERP and CRM features alongside financial management, production management, financial planning, warehouse operations and much more. The cloud platform provides clear and customisable dashboards and can even integrate data from many third-party applications.
All of this is down to NetSuite’s ability to support multiple applications in a single platform for maximum productivity. Every system works in harmony for an integrated application. NetSuite’s ERP is highly configurable and customisable, meaning standard programs can be adapted to an organisation’s needs. There are also industry-specific modules that can be added to your subscription.
It Is Massively Compatible With Other Applications
NetSuite is an open and interconnected business management system. The first rule of innovation in business operations management is that no ecosystem can do absolutely everything you need. Closed ecosystems should not be on your radar when looking for business management software.
Instead, look for a powerful single solution that is also open and compatible with a wide range of other tools. This will give you far more flexibility to adapt to things that arise in the future. NetSuite facilitates integrations with literally thousands of third-party apps. One of the best tools to do this is Celigo, an Infrastructure Platform-as-a-Service (IPaaS) provider who have developed countless NetSuite integrations.
These additional applications can provide key functionality for a huge range of industries and niches. They integrate seamlessly with NetSuite to make it work the way you need it to.
It Provides Real-time, Around-the-clock Visibility of Operations, Financials, and Profitability
As you expand, it is essential to streamline your business. NetSuite enables you to view a complete picture of your business in real-time through things like KPIs, dashboards and add-ons. This enables you to view things like your current cash flow, the present state of your inventory management and your financial performance at any given moment.
NetSuite also incorporates a compliance management tool and robust accounting and finance solutions. These deliver powerful BI tools for reporting and communicating, and the analytics capabilities leverage all the real-time data in all facets of the business for powerful insights.
Essentially, you get a single point of reference for users throughout the business and beyond. With everyone working from the same data and analytics, different departments can act in tandem for a smooth operation. All this data is real-time and instantly accessible for accurate and timely decision-making.
It Offers Accurate, Centralised Data That Presents Opportunities for Business Intelligence
The business intelligence opportunities that come from accurate, real-time data are enormous. With accurate up-to-date information such as stock levels in warehouses, AI can be used to order supplies when resources fall below a certain level. It can auto-generate purchase orders and invoices for users to quickly approve. There are so many time-consuming manual tasks that smart automation can replace.
Moreover, the insights gained from BI on this vast amount of data can be invaluable. Make decisions based on up-to-date records and intelligent forecasts. Instantly access key data and generate reports to visualise it in meaningful ways. Business intelligence is one of the most valuable tools presented by modern technology and NetSuite enables decision-makers to leverage it in powerful ways.
Are you ready to make the switch to NetSuite? Or does the thought of implementing an entirely new system make you nervous? The whole process becomes far simpler when you work with an experienced and proven implementation partner.
Remember: in the long term, your company will not thrive if you have not prepared for expansion. An early implementation of NetSuite gives you time to focus on growing without the distraction of administrative concerns. NetSuite supports numerous currencies and legal entities, so it is a powerful asset to business performance on an international level.
If the points raised in this article are making you think about more considerations you need to think over before making a decision, that is a good thing. It is an important decision, and there are experts out there who can offer insight and advice. Contact us for the voice of experience with everything relating to NetSuite and business operations management as a whole.
If you’d like to take a more in-depth look at NetSuite, please read our article What is NetSuite and how does it work?
Why choose Eventura to deliver your NetSuite Project?
As an official NetSuite solution provider, we have successfully delivered countless NetSuite implementations and integrations. Our expert team of business analysts, developers, consultants, technicians and support staff can guide you through your entire project, from initial scoping through to implementation and on-going support. We also offer a wide range of Managed IT Services, so we can help you deliver your project in its entirety.
We believe that NetSuite offers its customers a comprehensive suite of products that can digitally transform their businesses, replacing a range of disparate systems and software with one unified solution to business management.
If you would like to speak to one of our NetSuite experts, you can request a free call back here.