The startup world is rich with opportunities for new businesses to sprout up and flourish. Here in Texas, where we are based, we have helped numerous startups transition from managing basic accounting functions to conquering complex accounting issues.
We can also help startups from across the country thanks to our deep knowledge of the domestic private equity community.
The message is the same whether you’re in Texas or elsewhere in the U.S. When you access more funding to fuel growth for your new business venture, you will encounter increasingly difficult accounting challenges. That’s why outsourced accounting for startups is crucial as your business grows.
Which Industries are a Good Fit for Outsourced Accounting?
As you encounter more difficult accounting situations, an outsourced accounting team can help solve issues specific to your industry. Throughout our company’s history, our accounting experts have helped companies across many different industries. Consider this sample:
- Investment firms
- Wholesale distribution
- Financial services
- Professional Services
Our experience in various industries allows us to be fluent in the language of various business ventures. We also stay up-to-date on the latest accounting issues that affect specific industries. For example, we can help you understand whether the new lease accounting standard ASC 842, which has been a hot topic in many industries, applies to your startup business.
Additionally, we can help you make the transition from basic accounting software such as QuickBooks or other platforms to the best-in-class NetSuite ERP platform. Let’s take a closer look at how we help startups utilize NetSuite to simplify difficult accounting issues.
Inside Our NetSuite ERP Implementation Process for Startups
Consider the following NetSuite ERP services we provide for startups.
This process usually involves preparation and planning, data migration and configuration, testing, training, deployment, and support. Our project managers work closely with your team to ensure a successful implementation process.
The steps in a NetSuite ERP implementation project include the following:
- Engage: We focus on engagement so that we are all on the same page about where you are with your current accounting systems and where you would like to go. The ERP project team is established, we set up kickoff calls, and we work with your company to finalize project timelines, budgets, and expected changes.
- Drive: The second stage involves building plans for future deployment of the ERP system. Often, customizations are required and may need to be created. During this stage, you should plan for software migrations and training for your team.
- Enable: The next stage involves preparing to go live. During this step, we focus on migrating critical data and executing plans, such as installation, training, and testing.
- Convert: The final stage in the ERP implementation process is the last step of data migrations before going live and transferring ownership over to your company.
After we implement NetSuite, we remain involved with your company to identify areas for improvement. This process includes optimizing your system to run smoother, implementing process improvements, and supporting the workflows for your team.
Our NetSuite optimization service streamlines core processes in your business, rapidly improving performance, operational efficiency, and business outcomes.
Business Outsourcing Powered by NetSuite
Using the power of the NetSuite platform, we can take on your accounting, financial, and business tasks through our outsourced accounting services. You’ll benefit by decreasing overhead and improving business performance.
Instead of recruiting and hiring a costly accounting executive to support your growing business needs, we can step in to handle your accounting function. We have helped many startups realize improvements in the quality of their accounting processes and financial reporting while reducing time and cost obligations.
Work With Finlyte for Outsourced Accounting for Startups
Our process works for startups across numerous industries. We focus on implementing NetSuite, optimizing the system, and providing you with outsourced accounting services tailored to your specific need.
Then, we continue to work with our clients on an ongoing basis to ensure that you receive the support you need and the results you are looking for. We believe that client satisfaction is the most important part of any engagement with our startup clients, and we follow these steps to ensure your satisfaction.
Throughout the process, our dedicated team of accounting professionals will continue to address accounting issues that materialize as you transition to the next chapter of your business.
Finlyte is proud to be a multi-time NetSuite Partner of the Year. In 2022, we were named the NetSuite Breakthrough BPO Partner of the Year. Through the combination of our NetSuite expertise, outsourced accounting for startups, and business process solutions, we offer a comprehensive plan that will fit your business at this stage.
To learn more about our solutions, schedule a consultation with our team. We can also set you up with a demo of the NetSuite platform to show you the benefits of migrating to NetSuite.