Complex accounting situations can sneak up on growing organizations. When entry-level accounting software tools such as QuickBooks can no longer support your business, it’s time to think about advancing your accounting capabilities to become more agile in 2021. For many companies, the best solution could be to migrate to a cloud based ERP solution such as the Oracle NetSuite ERP platform.
Why Migrate to a Cloud Based ERP Solution?
QuickBooks and similar software tools allow entrepreneurs, owners, or a group of professionals to quickly start running a new business. The accounting or financial leader in a start-up company can quickly get acclimated to the software to support basic accounting needs. However, building your accounting capabilities around QuickBooks could stunt growth and you could miss out on sophisticated ways to manage inventory and other resource planning tools.
It can be common for growing companies to rely on one system for accounting, one system for reporting, and other systems to manage inventory, employees, purchasing, and other key business needs. Oftentimes, this includes heavy reliance on manually-created Excel files that are prone to error.
Organizations could benefit by starting to think about a more sophisticated tool with true ERP capabilities. Embracing this approach will allow you to consolidate disconnected software platforms, move away from inefficient manual processes, and achieve business agility.
– For example, growing businesses often realize they have specific needs that go beyond basic “bookkeeping.” Once an organization needs to produce more sophisticated reporting — and therefore needs better accounting controls — they often look into an ERP with real dual-entry accounting capabilities.
Working with a cloud based ERP such as Oracle NetSuite will allow you to gain the ability to produce true GAAP financials and increase your reporting abilities across the board.
– Consider another example. Many organizations are still tied to a desktop to perform real accounting. Perhaps when your company was set up, you only needed the software installed on one computer. Now, you have outgrown this limitation. Instead of agile, it’s clumsy.
If your team has become tired of limited access using the desktop software installed on only one computer, then moving to the cloud is a huge advantage and upgrade.
The Value of Cloud Based ERP to Support Remote Work
We know how disruptive 2020 was for many start-ups and growth companies because of the pandemic. One of the biggest changes was, of course, the shift to remote work environments. A cloud based ERP is a very timely and relevant tool to support your organization’s growth if you continue with a remote work set-up in 2021 and beyond.
Adding the ability to run an organization and support accounting functions from the cloud is paramount. As the nature of collaboration changes in modern business, so should access to accounting software, reports, and key business data.
It’s not prudent to only have one software license on one desktop computer that requires physical access. Your team needs to be able to securely access systems to view data, hold discussions, and make decisions — especially if teams are working virtually.
Using the Oracle NetSuite ERP platform will allow you to add capabilities over time that will scale with your business.
How Oracle NetSuite ERP Supports Business Agility
When your organization decides to use NetSuite as your ERP, you’re drawing a clear line in the sand that you are prepared to take the next step to achieve business agility.
The NetSuite cloud system has been around as long, if not longer, than any other system in the world. Then, after being purchased by Oracle, the NetSuite platform became even more powerful as Oracle has continued to invest in cloud infrastructure. The cloud power from Oracle, the pedigree of NetSuite, their industry-leading engagement practices, and their built-in best practices make NetSuite truly unique.
Now, organizations can benefit from the advanced cloud capabilities of Oracle NetSuite. Consider these agility-driven results from using the platform:
- Cloud and remote capabilities bring together disparate business groups and employees to support collaboration.
- Introduction of role-based reporting, dashboards, approvals, and visibility increase efficiency.
- Elimination of manual processes from spreadsheets, printed paper, and redundant verification create time savings.
Delivering Cloud Based ERP Solutions for 2021
As a NetSuite Alliance Partner, our firm represents the highest industry standards in Oracle NetSuite ERP implementation and support services.
We provide a concierge experience from the beginning of the ERP evaluation to the completion of the project. We want to understand your current accounting and business software challenges so that we can craft a clear path forward for your organization to migrate to the Oracle NetSuite platform.
- We employ industry best practices.
- We clearly define functional and technical requirements.
- We align our services with your project budgets and related fees to transform your organization to the next level.
Ready to achieve business agility in 2021 through the Oracle NetSuite cloud based ERP? Contact us today to inquire about NetSuite ERP implementation. This is within reach for your organization. We’re ready to discover a specific solution for your complex accounting and business needs and wish you a successful year ahead.