Technological advancements have made it easier for companies of all sizes to adopt robust, cloud-based Enterprise Resource Planning (ERP) systems. You don’t need to be an enterprise-size company to start using an ERP.
More companies are taking advantage of platforms such as the Oracle NetSuite ERP system to manage financials, accounting, business activity, and other critical areas in one location.
Take a look at why adopting NetSuite ERP is a good decision for small to medium-sized businesses (SMBs) that want to increase business performance and streamline operations.
3 Reasons to Adopt the Oracle NetSuite ERP System
The common thinking for years has been that NetSuite is only beneficial for larger enterprises. But that is simply not true. We have helped countless SMBs realize the benefits of using the platform. Let’s unpack the reasons why NetSuite is good for business.
1. Platform Scalability
NetSuite is designed to scale. You don’t need to be a Fortune 100 company with business units scattered across the globe to use the platform. NetSuite can work with you in the following ways:
- Scale to fit your current stage of business growth.
- Integrate with software applications you are already using.
- Deliver great value by offering features and functionality that support your current business need.
For example, when you work with the Finlyte team for NetSuite implementation, we can help you determine the right starting point to use the features you need, not the ones you don’t need. Then, as you grow, you can incorporate other built-in features to support more complicated business situations.
NetSuite is a great solution to solve today’s business management challenges and prepare you for success with long-term growth initiatives. When you’re ready, you can quickly launch new business models and expand internationally. The innovative platform can help you evaluate all possible ways to scale and increase revenue – both domestically and internationally.
2. Access AI Tools
Artificial Intelligence (AI) is sweeping the business world. But you don’t need to break the bank to tap into automation and other AI-backed technology to support your business.
Oracle has invested resources into advancing business intelligence through automation. Through the power of the NetSuite intelligent cloud suite, you can use their powerful technology to become more efficient, reduce dependence on manual processes, and replace redundant tasks with value-added tasks.
The intelligent cloud enables businesses to make proactive and timely decisions, then take action directly in the NetSuite platform. For example, you can use NetSuite tools to support advanced forecasting for your business, leading to better decision-making. Then, you can generate timely and accurate reports to deliver to key stakeholders.
Overall, you’ll see a reduction in errors and be better prepared to use your data to support all aspects of your business – at a fraction of the cost you would pay for this technology outside of NetSuite.
3. Support Each Critical Area of the Business
Every company is different. You have unique needs that depend on your industry, market, and customer base. And NetSuite has industry-specific solutions that fit your business.
For example, if your company is involved in supply chain management, you know how important it is to stay on top of business activity. You could be an e-commerce company dependent on the supply chain, a logistics company that operates in the supply chain, or a manufacturer that produces raw materials that need to move through the supply chain.
In these scenarios, you will want to use NetSuite differently because you play a different role in the supply chain. NetSuite makes it easy to do just that by helping increase visibility into critical areas of business activity. You’ll be able to support these functions:
- Track the movement of products.
- Assign resources to execute your responsibility.
- Communicate with vendors and suppliers.
- Support customer relationship management.
- Manage sales, inventory tracking, and customer data in one location.
- Use financial data to support reporting and accounting needs.
Whether you need NetSuite to handle the entire process or want to start with integrations so that you can continue using your current software systems, NetSuite can adapt to your needs. Our team can accelerate this process with our dedicated NetSuite Integrations service.
And the best part is that you can start small and grow into the platform’s full capabilities. For example, your business may not have a global presence yet. However, you could become involved in the global supply chain over time. And NetSuite will be there to support growth.
The key is not to wait until your business and accounting situations become too complex. You should get out ahead of growth so that you are prepared to step into more challenging business situations with confidence.
Then, you will be prepared to address your company’s complicated financial management needs. Through NetSuite, you can gain real-time visibility into financial performance, allowing you to achieve critical objectives:
- Grow your bottom line.
- Reduce costs.
- Increase profitability.
- Ensure that financial reports are accurate and complete.
- Achieve compliance with federal and international financial reporting requirements.
Ready to Migrate to Oracle NetSuite ERP?
The business world is constantly changing. You can be ready to respond to macro and micro challenges in your industry with the help of the Oracle NetSuite ERP system.
Even small-to-medium-sized businesses can take advantage of NetSuite’s scalability, AI tools, and comprehensive business support to accelerate growth.
Want to know more about why companies of all sizes are adopting NetSuite? Get in touch with our team of experts today to discuss the value of the platform for your company. We can help you roadmap a transition to NetSuite that fits your business need!