The customer expectations continue to evolve with the market dynamics. Our interactions with businesses continue to change fast and often. Any business that strategically finds itself incapable to meet the demands of these fast-paced changes in customer needs and expectations, is bound to bear the negative impact of poor business growth. As disruptive technologies are rapidly paving the way for transformation across industries and businesses, meeting the demands of these technologies has also emerged as a big challenge.
With the fast-paced changes proving themselves to be a major challenge, for every business it has become extremely important to provide a fully consolidated and streamlined business solution. This is where Cloud-based enterprise resource planning (ERP) systems like Netsuite has emerged as a highly popular solution. These systems are also paving the way for business automation and streamlined processes across industries. Netsuite for CFO or CEO or CTO provides the ease of managing business with real-time visibility and the most complete control mechanism.
According to most industry experts, the spending on cloud-based ERP solutions such as Netsuite will continue to rise in the years to come. On top of that, tools like the NetSuite CEO dashboard offers the top management of most small and mid-size companies all the acumen to stay ahead of the competition.
The Key Expectations CEOs Have From Cloud ERP
As the fast- technological revolution is gaining momentum across all industries, business process automation and streamlining of operations have become major concerning areas for the top-level executives irrespective of the niche. This is where cloud ERP systems like Netsuite for manufacturing, supply chain and logistics, retail and e-commerce and other industries can play a definitive role.
Since top-level executives always focus on the larger picture to boost the business bottom line reflected through operations, profitability and return on investment (ROI), it is important for the cloud-based ERP solutions to be in sync with the business vision and objectives. Let us have a look at some of the key factors top-level executives consider for selecting the right cloud ERP systems.
- System transparency and visibility
- Easy integration.
- Smooth and seamless communication and collaboration.
- Streamlined processes and task automation.
- Real-time responsiveness.
Most popular cloud ERP software such as NetSuite ensures optimum transparency of data through the integration of several disparate business processes and software functionalities. Through the data collection, Netsuite allows streamlining operations while coordinating multiple business departments. NetSuite ERP provides help to top-level CEOs thanks to the visibility of data in real-time and on the move. This robust and seamless access to data ultimately helps them to make well-informed business decisions.
NetSuite ERP system comes with custom-configured dashboards for CEOs to help them monitor and administer operations. The CEO specific dashboards come equipped with detailed marketing and sales reports, reports for tracking employee performance, inventory specifications, and demographic details. Accomplished Netsuite consultants with years of experience can help a business concentrate on the right metrics and accordingly suggest customisations.
Apart from offering this real-time data access and ease of management, cloud ERP systems like Netsuite also help a business scale up with the business growth while allowing easy handling of complex operations.
Why Do CIO/CTOs Choose NetSuite?
In a period when rapid digitisation is underway, embracing the right digital and IT integration strategies is of extreme significance. Thanks to the right IT strategy an organization can stay ahead of the competition and ensure an improved customer experience. The business success of any brand depends heavily on IT strategies.
The Chief Information Officer (CIO) and Chief Technical Officer (CTO) are responsible for making the right technology strategies that propel business growth. Fortunately, they now have Netsuite, the right cloud ERP platform to help them meet their long-term business objectives.
Chief Technical Officers (CTO) always face the dilemma between cloud-based solutions and on-premise ERP. But, in recent years, the vast majority of CTOs end up embracing cloud ERP platforms to reduce the complexity, cost and maintenance difficulties associated with multiple legacy software systems. An experienced NetSuite implementation service and specific domain expertise can further help streamline processes as per the business needs.
Keyways Cloud ERP Solutions Help Organizations
Apart from allowing robust and meticulous controls and visibility into business data for the benefit of top-level executives, the overall role of cloud ERP systems like Netsuite is beneficial to the business processes and outcomes in a number of ways. These benefits in turn help top-level executives to remain in absolute total control over their business processes.
Some of the key benefits offered by cloud ERP solutions for organisations include the following.
- Business specific ERP customisation and custom configuration.
- Custom integration of legacy software and tools.
- Frequent data, settings and security upgrades for smooth function.
- Robust and uncompromising security with real time monitoring and data encryption.
- Continuous and mobile access to ERP data and functions.
- Continuous optimisation and innovations.
Now based on the above-mentioned benefits selecting the right ERP solution involves a long-term business commitment for staying competitive in the market while making precise forecasts on business growth. The NetSuite cloud ERP system has already proved to be the right solution for a multitude of startups and mid-size companies when business process automation is required. The wide range of industry-specific ERP features and diverse modules focused on various processes made it the most popular ERP system.
As a cloud ERP system, NetSuite offers a multitude of benefits when it comes to third party integration, frequent and timely updates, and robust data security. Moreover, Netsuite is disposed to the latest technologies such as artificial intelligence (AI) and Machine Learning (ML) to help track different KPIs and parameters for understanding customer behaviour patterns in depth. Most importantly, deciphering the data-driven insights on customers helps companies to deliver a highly personalized customer experience.
In this respect, the role of choosing the right Netsuite alliance partner should be given some deserving emphasis. The right NetSuite vendor with sufficient experience and domain expertise will know your requirements and accordingly will pave the way for custom implementation, integration and data migration. Most importantly, an accomplished Netsuite partner will help keep the entire ecosystem secure and thoroughly updated. With appropriate NetSuite implementation, you can give business operations protection from all kinds of sudden downtime errors and crashes.
How CFOs Get Help From NetSuite?
There is a perception that traditional spreadsheets are cost-effective and very user friendly, particularly when you consider the financial constraints and the limited technical skills of employees in many small and mid-sized organisations. But such a mindset does not take future business growth into consideration. When the business scales up in terms of transaction volume and sales, how can a spreadsheet handle this?
On the other hand, the Chief Financial Officers (CFO) of most companies encounter the challenges of revenue recognition and adherence to financial compliances. While compliance is widely identified by financial heads as a top priority, disparate software systems are too primitive or under-equipped to handle the present compliance requirements.
Both revenue recognition and adhering to compliance norms are crucial for any business on the growth track. When a company needs to go after the benchmarks and standards in financial terms, the complications increase significantly. This is where cloud ERP platforms like Netsuite by streamlining financial operations and integrating data with other departments ensure smooth real-time updates to meet the compliance requirements.
Preventing the organisation from financial frauds and risks is another key priority for financial heads across organisations. Intelligent AI-based cloud ERP systems like Netsuite ensure timely prediction and management of risks. NetSuite comes with the ARM module that helps automate the revenue recognition processes. The same module also ensures automatic updates to ensure adhering to the latest compliance standards with ease.
Conclusion
Thanks to the Netsuite cloud ERP platform now managing businesses has become extremely easy, sophisticated, and high automation is driven. To apply most of Netsuite potential for your business it is important to hire the right Netsuite implementation company having adequate expertise and experience.
