Mid-sized, But With Big Ambitions? Why NetSuite is the Right Choice

Is your organization a mid-market company ready to unleash growth but struggling to navigate the complexities of day-to-day operations?  Is your company’s efficiency subpar?

Analysts indicate that productivity gains can help mid-sized businesses expand sustainably. Future-looking leaders agree that the growth will stem from three primary sources: human capital, sales force effectiveness, and operational efficiency.

Indeed, improving efficiency can free up capital and direct it to where it will generate revenue, open up strategic expansion opportunities, and maximize the value of your business.

However, achieving efficiency to feed future growth and competitiveness requires an orchestration of every function supported by a coherent strategy, and that is where sophisticated ERP solutions such as the Oracle NetSuite could prove helpful.

NetSuite is a robust, feature-rich ERP solution that many small and midsized companies trust to grow and scale their organization.

Efficiency and Savings Thanks to Cloud-Based Deployment

Over the past decade, the Cloud has transformed data storage and sparked growth in practically all organizations that rely on it. Not upgrading to cloud-based business tools means that you need to maintain a costly on-site IT infrastructure.

Besides, relying on local data centers and siloed solutions exposes your company’s data to cyber threats while your staff waste significant time and resources physically extracting and systemizing large data sets.

NetSuite is the leading cloud-based solution that can bring immense cost and efficiency gains to your organization, lowering your IT bill and reducing physical and staff resource usage. 

Cloud ERP software, such as NetSuite, handles system updates, bug fixes, and other irregularities while always striving to bring on new solutions, resulting in significant bottom-line savings and growth potential for your mid-market firm.

Easy Integration With CRM and Other Business Applications

Whether you are a B2B or B2C business, you perhaps already use one of many customer relationship management (CRM) systems. However, contrary to a widespread belief that CRM is the backbone of every organization, there are specific challenges that such tools cannot address.

Product, marketing, sales, finance, and HR departments often use systems unique to their job functions that decentralize their source data. Marketing staff needs better visibility into sales to determine if their advertising campaigns are coming to fruition and vice versa.

Mid-market businesses are complex enough, and data silos are a common problem. In fact, over 50% of executives report that their customer-related operations are managed in silos. NetSuite can serve as a base system, seamlessly integrating with 3rd party business applications that your company already utilizes.

Meanwhile, disparate teams can continue working in the native tools they prefer, thanks to Oracle NetSuite, which connects all the data points. As a result of a broad 3rd party integration, all the parties have access to complete and up-to-date information, which ultimately expedites the lead-to-cash process and allows your business to grow at a sustainable rate.

A 360-Degree Visibility of Your Company

Unified Database Reporting

One of the most significant advantages of using NetSuite is that you can access comprehensive real-time dashboards and analytics, eliminating the reliance on spreadsheets and disparate systems.

Having a unified system that contains financial, operational, customer, and employee information means that you can make data-backed decisions and understand challenges that prevent your business from growing.

The NetSuite SuiteAnalytics reporting and dashboard solution includes real-time reporting, searches, key performance indicators (KPIs), and dashboards coupled with embedded analytics for easily actionable items and decision-making agility. As a bonus, since the software is built on the cloud, the live analytics are available on mobile devices, ideal for remote or hybrid teams.

Global Growth with NetSuite OneWorld

Expanding your company overseas can bring global brand exposure and new revenue streams, but it comes with challenges, too.

Physical distance, organizational communication, local compliance and reporting obligations, and lack of financial and analytical visibility worry mid-market business executives and hold them back from expanding abroad.

With NetSuite OneWorld capabilities, managing a multinational business with complete visibility is as easy as running your domestic company. If you have the ambition to enter new countries and set up subsidiaries, you can rely on NetSuite to provide you with functions such as:

  • NetSuite OneWorld Financials, 
  • Accounting Hub, 
  • Comprehensive Multi-Currency Management, 
  • Audit and Compliance Reporting, 
  • Configurable Tax Engine, and much more.

Adaptable and Up-To-Date

According to research, 28% of mid-sized firms, particularly in financial and retail sectors, are held back by their outdated legacy systems, preventing them from digitizing their operations and effectively competing with more agile market players.

Such systems are so deeply ingrained into operational processes that managers are hesitant to replace them. However, if you are looking to scale your operations, investment in intelligent ERP software is inevitable.

Unlike legacy systems, modern tools, such as NetSuite, are designed to support growth due to flexibility, adaptability, and automatic system upgrades.

NetSuite allows you to add functions and systems as needed, enabling rapid growth and providing your business with a solid technological foundation to build on.

Concluding Remarks

NetSuite is a cloud-based business management software suite that offers a range of applications, including financial management, inventory management, customer relationship management, and e-commerce. It is designed to help businesses automate and streamline their operations, and it can be customized to fit the specific needs of different industries. NetSuite is often used by small and medium-sized businesses, as well as large enterprises, to manage their finances, sales, and customer relationships in a single platform. It is known for its ability to integrate all of a business’s operations into a single system, making it easier to track and analyze data, make informed business decisions, and improve efficiency.

Taking the plunge and updating your technology stack is daunting. And we get it!

At SuiteSciens, we work closely with companies to understand their business needs and recommend the appropriate solutions. We focus on implementing and maintaining great ERP solutions allowing companies can focus on their core business processes!

Contact our team of experts today and start your transformational journey with Oracle NetSuite – one of the best ERPs for a midsize business.

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