Implementing an ERP system can feel like a big leap for any organization, especially if your company is switching from QuickBooks to a robust ERP platform such as the best-in-class Oracle NetSuite ERP.
ERP software is powerful because it helps bring together an organization’s primary business processes, such as inventory, accounting, budgeting, supply chain management, human resources, order processing, and payroll, in one location. Therefore, it is essential to follow NetSuite best practices during the implementation process to ensure that you get the most benefit out of the system.
Focus on These NetSuite Best Practices to Maximize Value
Some of the best practices your company should pay attention to during NetSuite implementation include the following:
- Key Requirements
- Key Performance Indicators (KPIs)
- Data Migration
- Project Team
- Project Management
- Collaboration & Communication
- End-user feedback
1. Essential Requirements
In any ERP implementation, the requirements must be precise and related to your overall business goals. These goals may include things such as reducing costs, improving communication with customers, and automating processes.
During this stage, it’s important to analyze current systems, workflows, and key business processes. Plus, you want to gain clarity about what your company truly wants to accomplish by migrating to NetSuite ERP. This way, you can drive toward process improvements and gain a clear understanding of how to grow the business.
After developing your company’s essential requirements, you should identify specific KPIs to track the success of the implementation. These target metrics will provide you with guidance on whether you are on track to realize your goals for the implementation.
3. Data Migration
Migrating data into a new ERP system is a crucial step in the implementation process. This step requires preparation and planning because there’s a risk of corrupting or losing data during a migration, especially if you are standardizing and consolidating data from multiple sources.
Companies can choose whether they want to transfer data using automated tools or through manual processes. Each option offers a different advantage.
- Manually entering data takes time but can help ensure your books are up to date.
- Automatically implementing the data can make the process less tedious and faster.
Regardless of which method you use, the data you are transferring must be valid and updated into the new system.
4. Project Team
Having a solid project team is crucial in a business. A typical ERP implementation team has an executive sponsor, a project manager, and a representative for each key group of the company.
- An executive sponsor helps adjust business priorities and requests additional resources when necessary.
- The role of the project management team includes day-to-day management, budgeting, and measuring results. It’s important that the project team is knowledgeable about the business and respected in the company.
5. Project Management
An ERP implementation can take anywhere from three months to over a year, depending on your company size, previous software use, and data quality. Installing a project management framework will help guide your ERP implementation to shorten the timeline.
Project management should focus on aligning the business’s needs with the ERP system, keeping the project on task, and ensuring that key stakeholders can provide input. A strong project management team can determine which enhancements must be immediately implemented and which can wait until later.
6. Collaboration and Communication
A mutual understanding of the objectives and goals is crucial in creating successful projects. It’s imperative for everyone, from the CEO to end users, to be aligned and know what is happening in the business.
- Communicate why the ERP system is being implemented.
- Provide information about what the system will do.
- Stress the benefits of this move.
Everyone in the business should emphasize the importance of the project. Communication may include charts, blog posts, presentations, and graphs. Regular meetings may be necessary to identify key issues and communication successes.
With any new system, there will be a need for training. Consider scheduling targeted training that fits the individual needs of groups within the company. This will help users understand the system and get the most benefit from it.
Your company should consider providing custom content such as tutorials, videos, and graphics that allow employees to view information that is relevant to their roles.
We also believe that hands-on training is imperative to learn the system. Some businesses succeed by having a few employees gain early access to NetSuite ERP so that they can receive training, develop skills, become a champion for the system, and coach other employees on how to utilize NetSuite.
8. End-User Feedback
Hearing end-user feedback can be helpful through the NetSuite implementation process. In the beginning stages, this feedback can help your business gain more insight into how each user is interacting with the system and any obstacles they are facing.
These insights can support the implementation process by addressing those user needs before officially going live. In addition, as the ERP system is being established, feedback can help identify and solve problems while also providing ideas for further enhancements.
When working with a new system, it’s not uncommon for employees to come across issues and ask questions. It’s essential to provide multiple support resources, whether technical support or project management support.
Technical support may include a help desk, forums, and online support to get questions answered quickly. The project team should also look for potential gaps between the old system and the new NetSuite ERP system so that these issues can be addressed before go-live.
Work With Finlyte to Implement NetSuite as your ERP System
If you’re looking for an expert team to help you follow NetSuite best practices during implementation, look no further than Finlyte. We are experts in the implementation process and can shorten the migration timeline so that you can realize an immediate return on your investment.
Through our NetSuite implementation services, we’ll ensure that you have a successful implementation that creates the most value for your company.
Contact us today to schedule a consultation with our team. We invite you to find out why Finlyte is the right choice for NetSuite implementation.