TIME FOR A CHANGE?
It’s taking longer and longer to reconcile financials at the end of the month. Your sales forecasts are based more on guesswork than solid figures. Your business is having trouble keeping up with its order volume and customer satisfaction is faltering as a result. You have no idea how much inventory is in your warehouse, and it’s difficult to find out. If this sounds even remotely like your business, it may be time to consider an ERP system.
Every company is unique, and there’s never one single indicator that says, “You need ERP now!” That being said, if these frustrations feel familiar to you, your company is probably one that would benefit from an ERP solution. If your team is facing some of these same issues, read on to discover five good indicators that your company is ready for ERP.
You are suffering from software hairballs.
Spend a few minutes thinking about how employees at your company record, track, and process information. Does your accounting staff use one system for receivables and payables, and your sales team use another to enter in customer orders? Is the process of taking those orders and getting them fulfilled and into accounting a time-draining manual process? Do employees in your warehouse use a completely different solution to track shipping and receiving?
When various front- and back-end systems run separately, it can wreak havoc on the processes that are meant to ensure your company is running smoothly. Without accurate data from sales, inventory management may suffer, while not having the latest information from accounting can trigger a ripple effect on everything from marketing budgets to payroll.
NetSuite integrates these systems so that every business function relies on a single database. With one source of information that contains accurate, real-time data, an ERP solution breaks up information logjams, helps staff make better decisions more quickly and frees up their time to work on more high-value exercises like helping the business grow even faster.
You Don’t Have Easy Access to Information About Your Business.
If someone asked you what your average sales margin is, how long would it take you to find out? What about other key performance metrics, like orders per day or sales to date? For companies that rely on siloed systems and spreadsheets that need to be constantly updated and reconciled manually, it could be a long wait.
The pace of business is faster than ever before and employees across your company need immediate access to key data. With NetSuite, executives can get a holistic view of business operations in real time, while other staff can get the information they need to do their jobs more effectively. For example, sales representatives should be able to view a customer’s full transaction history and more proactively improve renewal rates while increasing upsell and cross-sell opportunities. Unleash Customer Dashboards in NetSuite to see everything in one place.
Accounting tasks lack efficiency, which reduces productivity.
Often, the first noticeable signs that your company needs ERP software will come from your accounting department. If your employees rely on paper-based invoices and sales orders—and spend hours every week manually entering them into different accounting and sales systems—you need to consider how much time is being wasted on tasks that NetSuite can handle in an instant.
The same goes for financial reporting. If it takes ages to consolidate or reconcile financial information across systems and through countless spreadsheets, NetSuite can make a significant impact. With all financials in a single database, accounting staff won’t have to spend hours cross-posting information, rekeying numbers, or reconciling data manually. Your accounting staff will be more productive, freeing them to deliver critical reports without delays and frustration.
Sales and the Customer Experience Are Suffering.
As companies grow, one of their biggest challenges is often inventory management. Ensuring that the right amount of product is available AND in the right location, at the right time, is vital to business operations.
When sales, inventory and customer data are maintained separately, it can create serious problems across your company. If you run out of a popular product, sales will be off until the next shipment arrives. Meanwhile, if a customer calls to inquire about an order and employees can’t track it to see if it’s been shipped—or if it’s even in stock—your company will start to develop a poor reputation for reliability and service.
With NetSuite, staff in every department will have access to uniform, accurate, up-to-the-minute information. The inventory team is automatically notified when stock is low, and they can reorder before running out. Customer-facing team members can answer customers questions about order and shipping status, payment status, service issues, and much more without having to place them on hold to check with another department. Best of all, when set up correctly, customers can simply log in to their account and view status information. Truly an all-in-one solution for your business needs.
Your technical infrastructure is sucking up too much time and money.
One of the biggest downsides of having multiple systems across your business is that IT management can become a nightmare. Customizing these systems, integrating them and maintaining them with patches and upgrades can be complex, costly and sap critical time and resources.
If your patchwork of systems includes on-premise, legacy business software, system upgrades can be more trouble than they’re worth. Not only are these updates expensive and time-consuming, but they also require expensive IT staff to maintain. Two-thirds of mid-size businesses are running outdated versions of their business software, and are maintaining expensive resources to provide life support to these antiquated solutions.
Rather than adding more software and complexity to an already ineffective system, NetSuite can give you the agility to respond to changing business needs rapidly. Cloud-based ERP releases the burden and liabilities that come with on-premise systems. It also lowers the amount of staff required to maintain the systems internally. With NetSuite, system updates are automatic, and new functions are easy to add to your business as it grows and changes.