Reasons NetSuite Might be Your Business Management Software Solution
Startups and growing businesses often struggle to create a reliable business infrastructure that supports rapid and efficient growth. The majority turn to basic accounting solutions, such as Quickbooks and Xero, and secure a CRM to manage the business database. However, business needs are dynamic, forcing companies to deploy technology solutions that meet demands. The need for better infrastructure also arises with continuous business growth and necessitates that smart businesses consider complete business management software solutions.
That said, companies should look for a stable, reliable, and consistent solution to the challenges that come with running multiple business applications. This is where NetSuite comes in. NetSuite integrates all applications with multiple objectives and requires minimal infrastructure to maintain. Below are some reasons why you should use NetSuite for your business.
NetSuite Supports Scalability
The ability to use technology in scaling business operations is what separates success from also-rans in business. NetSuite financial suite is the best option for companies looking to address various challenges of a growing business. This essential back-office system addresses several challenges that come with business growth.
However, NetSuite is not just for startups alone. Both growing and established software companies can benefit from this tool’s solutions. It increases efficiency through its comprehensive financing, and accounting cores improve your business visibility and eliminate costly and often ineffective manual processes. These are key challenges to scaling your business and having one business management software solution that handles them all can be a huge asset.
NetSuite Streamlines Operations
NetSuite provides much-needed peace of mind by streamlining your back-office systems enabling you to focus on other business growth areas. Growing your business comes with a plethora of challenges and complexities. As your business grows, you will have to manage increasingly complicated business operations, such as market forecasting, revenue streams, order/inventory management, procurement, and more.
Initial processes that functioned effectively when your business was a startup, such as single-product marketing and managing few inventories, often begin breaking down. Most people augment scaling business operations with standalone applications such as spreadsheets to meet arising incremental needs. However, with advancing growth, such un-integrated processes and standalone applications hinder productivity.
To meet the demanding needs of business growth, the NetSuite business management solution streamlines all the critical business operations. Through automated quote to contract, bill provision, invoice revenue recognition, and reporting, NetSuite helps companies;
- Avoid using error-prone spreadsheets.
- Reduce time wastage doing manual reconciliations
- Speeds up financial processes
- Improve order/inventor processing
- Gain control over crucial operations
- Reduce IT costs
Modernized Business Approach
Basic business systems with fragmented operations and manual processes often stifle business growth. With advancing technologies, modern businesses should find a solution that supports flexibility, visibility, and agility. The current business sphere widely accepts cloud computing. As such, you should focus on innovative business processes to replace the burdens of maintaining on-site hardware and lagging software.
That said, NetSuite cloud software provides access to business processes and metrics anytime and anywhere. The software is also optimized for mobile devices, which increases employee productivity. The software also provides real-time insights, allowing users to make instant corrections and changes to business projects.
As an Enterprise Resource Planning software, NetSuite takes care of core business operations within one platform. Unlike fragmented software systems that handle financials independently or sales and marketing separately, NetSuite is a single-source solution that handles all the core business functionalities and data.
NetSuite is a full ERP software suite that manages everything, from CRM, inventory, support management, accounting/financials to sales and marketing. Using a single source data system for all your business operations is powerfully beneficial. For instance, you won’t have the dilemma of finding an updated system when pulling reports. Gathering business insights also becomes much simpler. You can easily identify slow-moving products to focus your marketing strategies, gauge how turnover stock strategies have increased sales, and accurate reporting from one platform.
Single-source solutions also significantly affect the customer experience. Regardless, if your customer recently spoke to a sales rep, customer service staff, or the accounts department, there are no uncertainties as every information is captured in the system. It doesn’t matter who answers the phone; customers get consistent information throughout. Over time, this builds trust and fosters customer loyalty.
Just to mention, NetSuite has the following capabilities;
- ERP – it runs all the key financial processes in your business, including inventory, accounting, supply chain, and more from the cloud.
- CRM – the platform is the sole CRM system that provides a 360-degree view of your clients.
- Professional service automation – accurate PSA enables businesses to plan, track, and implement projects.
- Ecommerce – the software unifies all the steps in your web store, from sales, order management, marketing, and other eCommerce essentials.
Is NetSuite Good for Your Business?
NetSuite is a top choice of fast-growing companies at every stage of their growth. It is the #1 choice to run financials/ERP, CRM and ecommerce applications in the cloud. From emerging businesses and start-ups, to established businesses, NetSuite empowers modern companies to reach their growth potential. The cloud-based solutions streamline vital business processes and reduce IT costs, allowing you to easily scale with an agile business platform that evolves as your needs change. Small businesses can benefit from its simple and integrated approach. NetSuite has a starter edition that suits small businesses looking for a reliable ERP system. As well, established organizations can leverage industry-specific NetSuite solutions with customized industry-specific implementations that focus on particular organizations’ functionalities to help scale their growth and improve efficiencies. It’s a robust software with multiple uses. Check out NetSuite today as you research how to improve your business infrastructure.