In this video Josh explains a few of the most common scenarios our customers have come across that are a signal it's time to upgrade your ERP system.
Scenario 1: There's a lack of existing system functionality. In the manufacturing or wholesale distribution industry this normally means an inability to track inventory. In the software industry this is normally demonstrated by Revenue Recognition being handled in Excel. In services this is most often revealed by disparate project management and accounting systems. The biggest ROI with conversion to NetSuite in this instance is improved margins. Automation of your business processes allows you to grow your business without growing your headcount proportionately.
Scenario 2: The current system in place is unable to support acquisition strategy. Companies often find they need a second instance of their existing system to support a newly acquired company. Another difficulty is trying to manage consolidations in Excel without access to consolidated results until month-end. Another common occurrence post-acquisition is an inability to automate inter-company transactions. The biggest ROI with conversion to NetSuite in this instance is faster acquisition ROI. Having all your companies and subsidiaries functioning on one instance of NetSuite will save you money, create standardized processes and allow for elimination of redundant processes through a more shared service approach.
Scenario 3: Disparate systems are causing an IT mess. Companies have different systems and processes that are frequently disconnected. Because of the differences between systems there are usually multiple versions of the truth when running reports. Another common occurrence is excessive reliance on IT for accounting or operational software. The biggest ROI with conversion to NetSuite in this instance is lower IT costs. NetSuite is typically owned and managed by accounting which translates to limited IT involvement. An added bonus is reduced costs in infrastructure due to NetSuite being cloud-based (i.e. no servers).
We've helped our customers with all the above scenarios and more. Whether you have a similar situation or something completely different, we can help. Having an in-house development team enables us to quickly and effectively implement NetSuite for any scenario.
If you think it might be time to upgrade your ERP email us to schedule a free consultation.