Private equity firms are often taxed with their many portfolio companies being on different, siloed ERP and accounting systems that are not supporting their rapid growth. How do private equity firms provide their portfolio companies with the right solution for their unique business, while also simplifying operations across the firm? The answer is NetSuite.
Did you know? Nearly 20% of all financial sponsor-led carve-outs in North America are running on NetSuite. Oracle NetSuite allows you to manage your portfolio companies’ financials, CRM, operations, human resources, supply chain and more all in one place. NetSuite offers industry-specific solutions, so all of your portfolio companies can be on the same software while also having unique functionality to stay competitive in their industry.
Knowing the best way to implement NetSuite into your portfolio companies can be a challenge. While purchasing directly from NetSuite is an option, the drawback is that the salesperson will likely offer you a “packaged, out-of-the-box” solution that falls short of the needs of your portfolio companies.
Thankfully, working with an exclusive NetSuite partner ensures your NetSuite integration is appropriate for each unique business in your portfolio. Learn more about the reasons why you need an exclusive NetSuite implementation partner below.
What Is an Exclusive NetSuite Partner?
An exclusive NetSuite Solution Provider, also known as an implementation partner or value-added reseller, is a third-party vendor that helps you seamlessly implement NetSuite into your portfolio companies. While NetSuite provides powerful ERP software, it can be challenging to know where or how to start, especially when you’re dealing with a variety of portfolio companies. Exclusive NetSuite partners help to ease the transition by building custom solutions and offering hands-on training so you can focus on your firm as a whole.
When you begin working with an exclusive NetSuite partner, they’ll get in touch with you to discuss the business processes of your portfolio companies and identify potential areas for improvement with NetSuite. They will suggest software solutions based on the information provided, and some partners may even provide you with a free demo to make sure the features are right for you.
Once you’re satisfied with the implementation plan, your partner will begin the process of implementation. Even after providing hands-on NetSuite training, they will be available for continued support.
To check out a full list of NetSuite Partners, read reviews for 86 NetSuite resellers on G2.
What is the Difference Between a NetSuite Solution Provider and a NetSuite Alliance Partner?
NetSuite Solution Providers are business experts with real business experience across a wide variety of industries. They will assist a PE firm in the full process of purchasing NetSuite licenses to implementation and post go-live support. An Alliance Partner cannot sell NetSuite licenses, but can assist with integration and implementation services. Both Solution Providers and Alliance Partners work closely with NetSuite direct, and share the same vision of helping mid-market companies become more efficient and effective.
Why Should You Use a NetSuite Implementation Partner?
Here are five reasons why you need a NetSuite implementation partner for your private equity firm:
1. They Have Real-World Business Expertise
When working directly with NetSuite, a BDR or salesperson will likely offer you standard packages based on what they have offered other PE firms. However, each firm is different, and you might find you need slightly more or less support to face the unique challenges of your portfolio. The NetSuite salesperson might also lack real-world business experience or understanding of your industry, making it difficult for them to advise you on which package to choose.
An exclusive NetSuite partner, on the other hand, will have experience working with companies across all industries. Your partner will closely listen to your concerns and issues, addressing problems specific to your individual portfolio companies while also considering best practices for your firm. With a deep understanding of business processes, your NetSuite partner can customize a software package that fits the needs of your portfolio.
Private equity firms should work with NetSuite Solution Providers to get the best of both worlds — the #1 cloud software on the market, with an experienced team dedicated to your firm so you can maintain a competitive advantage.
At Cloud Genius Advisors, our consultants all have real-world business experience. They are accountants, supply chain experts and former CFOs. We strive to challenge our PE firms with real world understanding of how business process changes within the software will impact the overall business.
2. You Get Complete Support From a Dedicated Team
While NetSuite offers customer service and support, an exclusive NetSuite partner can go above and beyond. Your partner will walk you through every part of the implementation, communicating clearly with you throughout the process to ensure everything works properly. With an exclusive partner like Cloud Genius Advisors, you’ll never be passed off to a customer support number — you are assigned consultants who will support you far beyond your go-live.
The exclusive NetSuite partner will also make sure you know how the system works and provide technical support and guidance whenever needed. They will also provide necessary training to all employees and stakeholders who need access to the system. And after the implementation is complete, your partner will review the effectiveness of the implementation process with you so they can identify areas to improve upon.
At Cloud Genius Advisors, you will have a dedicated team that will be with you from project kick-off to post go-live support. Each of your portfolio companies will have the same account manager, project manager and consultants — so that your implementation will be as efficient and seamless as possible.
3. They’re Invested in Your Business’s Success
By working with an exclusive NetSuite partner, you choose a business partner that measures their success by your success. If you buy directly from NetSuite, you will receive little technical support, and are less likely to experience a lasting working relationship. NetSuite is a large company, which means roles shift quickly, and your account manager, project manager, and consultants may change. Your consultants also may not be senior-level. When working with a NetSuite solution provider like Cloud Genius Advisors, you can rest assured that all of our consultants are senior-level and highly experienced.
Working with a partner gives you access to a stable team of invested consultants. Your partner team is available at any time to discuss any of your NetSuite findings or issues. Over time, this partnership will feel like an extension of your team. Your exclusive NetSuite partner will continue working with you to ensure the success of your business.
4. You Get Better Price Options
When you buy directly from NetSuite, the packages the salesperson offers might fall short of your business needs. The software plan may contain less relevant features to your business, or a program in your price range may only provide half of the tools you need.
Exclusive NetSuite partners allow you to build a custom plan that fits your budget. Because they have a unique understanding of the many unique businesses within your portfolio, they can help you select the right package. Rest assured that you will find every piece of the software package valuable and relevant to your business. Your portfolio companies can easily add modules as they grow into the world-class organizations you know they can be.
Your NetSuite partner will also have access to the discounts available directly from NetSuite, ensuring you pay the appropriate amount for the software. Best of all, because you are getting the most out of your NetSuite subscription from day one, you will save on training and maintenance over time.
5. You Can Enjoy Custom Integrations
Your NetSuite experience should be as unique as your portfolio. While the standard packages offered directly by NetSuite might work for some companies, you might get less use out of some of the extra features available. Similarly, the features included might lack a different tool that would benefit you. For example, if a service company in your portfolio also occasionally sells products, additional support for inventory management would be helpful.
An exclusive NetSuite partner can configure solutions to meet the unique needs of your business. The packages exclusive NetSuite partners offer are flexible and modular, and your partner can swap features as needed. Your partner can even develop unique software to cater to a particular business niche if required. No matter your industry, your exclusive NetSuite partner will find a custom solution for you.
Choose Cloud Genius Advisors as Your NetSuite Partner
When starting your NetSuite journey, it helps to have a partner you can trust. Cloud Genius Advisors is the leading NetSuite consultant provider in the United States, providing support for companies across all industries. With the help of Cloud Genius Advisors, you can focus on your firm and enjoy the benefits of NetSuite while we take care of the rest.
With decades of experience, our team of senior-level consultants can help you find the perfect way to implement NetSuite into your business. Contact us today to learn more about our 100-day NetSuite implementations for private equity firms and to schedule a free demo!