Double Trouble: Use NetSuite to Eliminate Duplicate Entry & Disparate Systems
Double Trouble: Use NetSuite to Eliminate Duplicate Entry & Disparate Systems
Having numerous, disconnected systems is common for many small and mid-size companies. Often several different platforms exist for the various departments, such as accounting (financial management system and payroll), customer service (case management system), Sales (CRM), Marketing (bulk email platform or marketing automation). However, when these systems aren’t connected, several issues arise that can make workflow much more difficult and time consuming. NetSuite offers a cost-effective solution for small and mid-size businesses to unify all their business functions saving time, money and numerous headaches associated with inefficiencies of disconnected systems.
The Five Most Common Challenges Running Disparate Systems:
1. Inefficiencies of stand-alone systems and time wasted from duplicate data entry
Several negative outcomes result from the use of different stand-alone systems. Non-value-added activity such as duplicate entry can waste a large amount of the company’s time and resources. Lack of real-time visibility does not allow you to see data, analytics and workflows from the entire organizational structure, which is detrimental to “big picture” goals and tasks. The complexity and cost of integration (and maintaining these integrations through software upgrades) also presents challenges to small and mid-size companies which can result in increased customer churn.
2. Challenges with real-time visibility across the organization and a unified customer view
Can you see all your company data right now on a dashboard? Probably not if you are not on an integrated platform. A unified platform can give you a complete view of your customer data, inventory, orders, financials, transactions, fulfillment and more. Having a cloud-based system that provides business intelligence is priceless when it comes to keeping your finger on the pulse of your organization.
3. Excess IT costs and time with multiple systems
If you are running your business with a diverse set of systems, each one can fail when another system is updated. This can be quite scary for many companies as it could negatively impact the workflow or in some cases create a production down environment. As a result, companies fall behind on updating many of their software programs and processes. Nucleus Research found software companies moving from on-premise systems applications to NetSuite eliminated an average of $23,000 in software maintenance licenses costs per year. IT staff savings for those companies ranged from 50% to 65% of total IT time.
4. Agility for future growth and expansion
A tremendous growth in technology has occurred in just the past 30 years. Charles Darwin once said,
“It is not the strongest of the species that will survive nor the most intelligent
but the one most responsive to change.”
Having an integrated platform provides agility to deal with the threats of the digital disruptors while allowing room for growth. Wholesale distribution companies with low investment in digital commerce are at a great risk for decline over the next three years because customers shopping in the wholesale distribution industry want the same experience as consumer experiences provide shopping online. They expect real-time inventory levels, delivery schedule confirmations, and the ability to call customer service after placing an order for modification. If their expectations are not met, they will find a company online that will meet their demands in a matter of seconds. This is known as the Amazon effect and it is taking B2B commerce by storm. The businesses that do not adapt to this concept will get left behind.
5. Process efficiency across the organization
Your business can instantly eliminate the need for manual and duplicate work by seamlessly integrating workflows from the front-office to the back-office. Having automated processes will minimize the time employees spend on these tasks and allow them to focus on higher level assignments. Data will also be easy to find, allowing for quick and easy report generation. In addition, automatic daily task lists and reminders will help drive each staff member’s day from the CEO to the Shipping Clerk.
Benefits of a Single System
The challenges of working with disparate systems are clear. However, there is an answer. Every facet of your business can be managed with one integrated platform. NetSuite provides a cloud-based solution that provides the following benefits:
1. Streamlined communications
NetSuite provides a single system of record to manage the whole organization. Everyone will be using the same system which will enhance communication and provide real-time views.
2. Enforce accountability
With NetSuite’s platform, you can see what everyone else is doing without having to login to a separate system. This saves time and provides critical insight from any device 24/7 across the entire organization
3. Minimize costs and manual errors
An integrated platform eliminates the task of duplicating data into different systems, while simultaneously reducing IT maintenance costs.
4. Keep a tab on your business processes (remove dependency on institutional knowledge)
Everyone can become familiar with processes to accommodate an employee who is ill, takes vacation time or leaves the company.
5. Establishing a clear approval hierarchy
When documents need approval, it can flow straight to the right person without any breaks. A unified software system also leaves an audit trail so every change made can be seen and documented.
Now more than ever is the time to take a close look at your systems. Small and mid-size companies have the opportunity to go toe-to-toe with larger competitors by capitalizing on technology and making it work for them. Remember, “It is not the strongest of the species that will survive nor the most intelligent but the one most responsive to change.” Get ahead of the Amazon effect today! Contact Meridian Business Services today for more information on how to make technology work for you.
