As a busy owner of a high-growth business, or the fortunate executive in charge of managing the data for one, you didn’t notice the subtle signs your company is outgrowing your accounting software. Money’s in the bank, employees are getting paid, and customers aren’t complaining any more than other companies you’ve worked for. You’ve been “getting by” with a mishmash of standalone, “good enough” business applications for functions like:
- Customer service
- Payroll and HR
- Product warehousing, inventory and supply chain
The difference between getting by in a growing business and operating efficiently is a wider chasm than you might think. If the financial cost of acquiring and deploying an integrated ERP application has been holding you back from hiring a cloud consulting firm, have you considered the costs you’re incurring with the status quo? The time your employees spend looking for information, entering it into multiple systems and the frustration of poor visibility of interdepartmental company performance?
Here are five clear signs it’s time to upgrade from your underperforming, stand-alone business applications to NetSuite – the leading cloud ERP system for mid-sized companies and high-growth startups.
1. My accounting software doesn’t support my business processes or workflows
As businesses grow, their approval hierarchy gets more complex, as do their business processes for functions like advanced manufacturing, supply chain and warehouse management. They often have industry-specific accounting standards which need to be adhered to, such as for healthcare, medical devices, energy and transportation. Further, they will need applications for functions like CRM and online sales and project management which would require the purchase, deployment and integration of additional SaaS applications.
By upgrading to a comprehensive ERP packaged suite, companies can achieve all these functions without subscribing to multiple services. NetSuite was designed to meet industry compliance requirements for verticals like healthcare, financial services and energy. As your application interaction and transaction volumes increase, NetSuite’s data centers in Massachusetts and California are purpose-built for high availability, security and stability.
2. I need configurable reports with real-time data to demonstrate interdepartmental performance
Have you been struggling with fragmented QuickBooks reporting, and need better insights about how your business is performing across functions like customer satisfaction, inventory turns and Cost of Goods Sold? An ERP SaaS consultant can help you implement a SaaS ERP solution with on-the-fly analytics which you can access on your device of choice, so you can drill down into the details behind the dashboards. QuickBooks is extensible with 3rd party addons and reporting tools, yet cloud ERP offers powerful business intelligence “out of the box”. If there are still industry-specific functional gaps in your ERP, apps like NetSuite can be customized, or there are many add-ons available too.
3. My user base is over 500 employees, and my data is growing at a rapid pace!
Small business accounting apps like QuickBooks Online Plus can only be licensed for up to 499 users. Data can be stored locally or in the cloud, which could lead to problems if customer data is stored locally and isn’t updated with what’s on the cloud. QuickBooks Online doesn’t have file size or data storage limits, but import volume does degrade performance somewhat. There are journal line limits, custom field character limits and backup parameters that small businesses should study to ensure they will work for their business. QuickBooks Enterprise/Desktop Editions are available hosted, but they shouldn’t be confused as true cloud/SaaS ERP solutions.
Cloud ERP means there’s no need to upgrade your financial software, reinstall new versions or migrate data from one edition to another. NetSuite offers three service pricing tiers – Limited Edition, Mid-Market Edition and Enterprise Edition. These editions include CRM and ERP, including functions like Order Management, Purchasing and Employee Center. These Editions are available on Shared or dedicated service tiers, with designated user and data ranges Working with a NetSuite business analyst consultant can help you select the ideal Software Subscription Agreement which meets your unique business needs. User license volume tiers are available up to 3,500 seats, which is far above the capacity and functionality of most accounting packages. As your business grows, your company can add functional modules or upgrade from one edition to another.
4. I want to sell and do business overseas, but my accounting application only supports US Dollars!
NetSuite empowers growing businesses and enterprises to do business in multiple currencies, and to manage multiple international subsidiaries or business units as you grow. No need to run siloed applications in each country. NetSuite OneWorld helps global businesses to manage assets, resources, and customer transactions. Reporting can process business performance data across multiple geographies, and ensure your business is compliant with tax rules and regulatory reporting standards where ever you do business.
5. My CPA needs access to my financial data, do I have to send them export files?
With many on premise accounting applications, company executives must export their data or provide secure remote access via a VPN application to their on-premise financial application. In some cases, companies need to buy a license for their accountant to access their financial information or to pay full price for training. The NetSuite Accountant Program provides external accounting professionals like CPAs with:
- Discounted training
- The inside track on new product enhancements
- No-charge, single-seat access to your cloud ERP instance
- Incentive programs to refer business to NetSuite
There are many benefits to upgrading from accounting software applications like QuickBooks, Sage or SAP to NetSuite Cloud ERP. After completing several implementation and custom development projects, the Cloud Genius ERP team knows how to deploy NetSuite to your enterprise with minimal interruption and maximum business value. If your Detroit-area business has already purchased NetSuite, and you need training, support or integration assistance, our consultants are ready to help you get more for your ERP investment.[hubspot type=form portal=2177786 id=95ecfc18-587a-4f7b-97fd-a95af94e3aac]