Overcoming barriers to growth with cloud-based ERP

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Growing your business can be hard. Whether it’s poor customer data, manual and broken processes, minimal operations visibility, or keeping up with changing regulations, there is always something getting in the way growth. 

These barriers hurt sales, cost money and create risk. Our mission is to help companies realise their dreams and grow their business. 

We understand that business owners spend many late nights dealing with the arcane minutia of business. Instead of focusing on the most critical elements of growth, too many were stuck in the necessary guts of the financials, inventory, balances, shipments and so on.

Too many big dreams were getting beaten down by small tasks. We are happy to say NetSuite is a better way. For years, NetSuite has worked with us, to help businesses grow. 

Thousands of organisations rely on NetSuite to help put their business in the best possible position to succeed. 

We identified the most common barriers that hinder businesses. Below we share not just the challenges but also practical tips for you to break through and flourish.

Finding clients

In today’s landscape, finding your next customer is not as easy as it used to be. What makes matters worse, the data from your current install base provides no visibility into your customers due to out of date and dirty data.

The result of bad customer data is an unhappy customer. Now not only is your business unable to communicate current but your install base is at risk. When data is spread across sales spreadsheets, standalone financial systems and other applications, there is no way to know which data is most current, accurate and reliable. 

Abandonment figures rise as potential customers find other vendors that don’t waste their time. Acquiring new customers is critical for businesses that want to scale, and retaining customers is key for steady revenue growth. 

What the sales force needs is readily available data, at their fingertips, that gives a snapshot view of key information of potential customers and current clients. 

NetSuite has dramatically changed the nature of communication across the organisation and with our customers.

NetSuite reports on all your business data from a single common data repository. You get a 360-degree view of your customer across sales, service, transaction orders and more, which is unachievable when you have customer data sprawl.

Regulation change

As growing companies scale, business processes and attention to regulations tend to take a back seat—a very risky and detrimental move. Tax laws and compliance, year-end audits, reporting and other government regulations overburden the finance team, creating frustrations. 

Struggling to juggle day to day operations and compliance, finance leaders are often compelled to seek out additional systems to help them get by. While this may seem like a reasonable strategy, these subsequent applications often lack integration with each other, creating an even bigger mess. 

Without the seamless flow of data, misinterpretation on the latest changes could remain siloed in one system and not available company-wide. Year-end audits with data inconsistencies or incorrect tax filings are all possible if a system of record is not in place to automate and account for the various regulations.

A single cloud-based suite that automates and incorporates regulations for all departments is the solution for tackling regulations. The biggest priority remains a system of good internal controls to properly review monthly procedures, year-end closes and tax and audit preparation. 

This, in turn, minimises errors, misstatements and fraud. NetSuite provides the necessary annual reports, as well as default audit trails across a wide range of relevant financial records for accurate reporting. 

By capturing all the data in one place, it provides a single source of truth. This insight significantly improves the quality of decision-making and increases the company’s value.

If your growing business is experiencing any of the paints discussed above, such as poor customer data, manual and broken processes, minimal operations visibility to make decisions, or keeping up with changing regulations, now is the time to consider switching to a modern, cloud-based business management suite.

To find out how we approach business growth book your hassle-free consultation below. 

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