It's not uncommon for newer small and medium-sized businesses to experience spikes in business in their first few years as their products or services catch on. With those spikes, business owners may quickly realize that the accounting systems in place are inadequate when it comes to handling the higher work-loads.
Recognizing that the system is a weak point is the first step for a business, but then finding a solution is step #2. Implementing an enterprise resource planning (ERP) system like Netsuite gives a business the cloud-based functionality that allows for easy ramp up's in growth when needed and a wide range of functions to support many areas of a business.
Some of the key benefits include:
Better Visibility into Production Processes
For businesses in industries that involve production, NetSuite allows for the pen & paper processes to be a thing of the past. Using the Advance Manufacturing module in NetSuite, managers can easily look up work orders, find out where items stand in the production line, track progress, and provide accurate lead times to customers. Internally, it also helps businesses see how much time is spent in production to enable accurate planning and scheduling.
A Central Data Repository To Work With
NetSuite provides its users with one central database to keep everything from financial to manufacturing data in one place and accessible by multiple departments. Gone are the days of using multiple systems and keeping your fingers crossed that there is integration compatibility between the two.
When there are multiple systems in place, any company-wide analysis requires manual work to merge data, pull it together, and make it useful. It takes a load off of employees and minimizes the risk of error at the same time.
Advanced Demand Planning & Forecasting
Smaller and outdated systems can't do much for a business in regards to demand planning and forecasting the future needs of a business. Once again, loads of manual work come into play. A higher level of forecasting tools helps businesses plan for their future, especially in today's world with constantly changing supply shortages. Having a system that knows what is in the warehouse, what is needed, and when it will be needed is a major advantage.
A Scalable Enterprise Solution
It's not hard to outgrow a smaller accounting software quickly. Utilizing a cloud-based ERP like NetSuite offers infinite growth options for any type of business. It is the unsung hero of keeping businesses growing and successful that will reliably handle anything that is thrown at it.
To learn more about how NetSuite can help your business, visit AccountingDepartment.com today. Our full-charge client-based accounting services can do more than just provide software assistance. We handle accounting department functions from start to finish and provide businesses with a host of other benefits!