10 Signs Your SMB is a Good Fit for NetSuite
As a lower-middle market or emerging growth company, you need adaptable technology solutions to help you save time, foster process efficiency, and scale strategically toward the next stage of growth.
As experts in helping businesses transition from stand-alone accounting software to a fully customized cloud-based solution, we’ve outlined some of the most common signs your growing company is a good fit for NetSuite.
What is NetSuite?
NetSuite is a cloud-based technology that helps businesses better manage financials, inventory, customer relationships, and operations through an intuitive suite of customizable tools and applications.
When properly implemented, a custom NetSuite configuration can be instrumental in helping lower-middle market and emerging growth organizations save time, establish more real-time visibility, foresee potential issues before they arise, and efficiently reach the next stage of their journey.
For more information, head to our blog: NetSuite Implementation for Emerging Growth Businesses: Challenges & Tips to Avoid.
Key NetSuite uses and applications:
- Enterprise Resource Planning (ERP)
- Customer Resource Management (CRM)
- Inventory Management
- Project Management
- SaaS Revenue Management
10 Signs Your Lower-middle Market Organization or Emerging Growth Company is a Good Fit for NetSuite
- Your business is going through a period of rapid growth or strategic transition and you need to implement a scalable solution for reducing operational complexity and strategically managing increased transaction volumes, multi-subsidiaries, or global operations.
- You have complex processes for accounting, inventory management, order processing, and/or customer relationship management that could benefit from being streamlined, automated, or managed under one comprehensive system.
- Your company utilizes multiple sales channels (e.g. retail, wholesale, and e-commerce) and need a unified platform to ensure proper oversight.
- You have identified a need for in-depth financial and operational reporting, but your current software or process is failing to provide actionable insights, track KPIs, and support data-driven decision making.
- Your organization deals with complex inventory management processes, such as assembly, warehousing, or lot tracking.
- Your business operates on a global scale and you need support to manage international subsidiaries, customers, and currencies.
- You are looking to enhance your customer relationship management and/or provide your customers and clients with streamlined communication and more visibility.
- You have unique or complex operations or regulatory compliance requirements (e.g. tax or cybersecurity compliance) that require a high level of customization.
- You need to access vital company information from outside the office or you have teams working remotely that need to access data on the go – and do so securely.
- You have a long-term growth strategy, but you realize that your current system will not be able to adapt to your changing business needs as you scale.
Final Thoughts on the Signs Your Business is a Good Fit for NetSuite
Implementing custom cloud-based software like NetSuite requires careful consideration of your lower-middle market organization or emerging growth company’s budget, operational requirements, available resources, and long-term financial goals.
To ensure you are making the right decision, it can often be more beneficial in terms of cost, time, and outcome to turn to a trusted NetSuite consultant to help you evaluate your needs, identify the right technology solutions and systems, and move forward with confidence.
Looking for the Right FiT for Your NetSuite Implementation?
Today’s competitive market demands flexible reporting, real-time insights and adaptability to change. Our team at Bridgepoint Consulting seamlessly guides you through the transition from stand-alone accounting software to NetSuite ERP — and we FiT in budget.
Contact us today or learn more about how we can help at the link below.