If you’ve already selected the Oracle NetSuite system for your Enterprise Resource Planning (ERP) needs, you’ll no doubt be enjoying the many benefits that using the solution can bring. From enhanced efficiencies gained through automation of manual tasks, through to a 360-degree view of operations that can help you make informed decisions based on real-time data, NetSuite paves the way for unified processes that result in a streamlined business.
But are you realising the true potential of the solution and therefore maximising your investment? The architecture may have been aligned with your initial objectives, but perhaps these have changed. If your business has adapted and flourished since the original implementation, the chances are, you’re now missing out on a world of business benefits that could be added to your solution. Or, some members of your team might just be mind-boggled by the scope of functions and as a result, end up only using the ones that are familiar to them and their role.
Here, we highlight how a NetSuite requirements review and optimisation programme could help your business hit a new level of efficiency.
Unleash the functional power
One of the main reasons you will have decided to make the investment in the NetSuite solution would have been to achieve efficiencies for your business. So, in order to be fully maximising these, it’s important to be abreast of the full functionality available to you. Knowledge of this may be lacking or slipped for a number of reasons. Perhaps training wasn’t as robust as it could have been at the outset, resulting in teams not using the system to best effect. You may have staff that are new to the business and they have used the solution differently in a previous role or have never worked on NetSuite – either way you could have pockets of people who mightn’t be using it in the most way advantageous way for your business.
Another way businesses might be missing out is if the solution has been in place for a while. NetSuite offers two updates a year, bringing in new functionality and features each time. But if you’re not fully exploring these, you’re not maximising the power of your integrated ERP system. Furthermore, if you’re not keeping you and your team educated about new features, one day you could find certain practices redundant – for example NetSuite updated its bank reconciliation feature and teams should learn the new process.
This is where a review to check how you use the system can be a good idea, to assess whether it’s the most beneficial way to suit the business needs. When staff have had enough time to get to grips with the solution and have been using it in practice for a period of time, it’s advisable to review and potentially reset.
Making additions to add extra features
Needs change as any business evolves, and so do budgets. Some firms may opt initially for a single element within the solution, for instance, to take care of accounting and financials only, because of budget constraints. But in the case of a business that distributes products, it could greatly benefit from a dedicated Warehouse Management System (WMS) that will integrate with all other operational elements within the NetSuite solution, to bring everything into one platform.
NetSuite offers a plethora of solutions that assist in different business operations and sectors, whether it’s WMS for retailers, through to specialist features with the capability to help multi-subsidiaries address multiple currencies and legislative requirements. Similarly, a professional services business might be happy initially to have a solution for financial and project administration , but may soon need a customer relationship management solution to automate time-consuming tasks such as marketing content generation and outreach.
Some firms may have renewed budgets or new challenges to overcome and objectives to meet, and this can be a catalyst to considering additions to the solution. Having a review of your business needs to identify areas where a solution could create new efficiencies is certainly an exercise worth undertaking.
Developing solutions for individual requirements
At BrightBridge, we don’t just take a solution and pop it into your business, our expertise lies in creating a robust architecture for your unique business needs, within your budget and requirements. If there isn’t an out-of-the-box solution that does the job, there’ll be a partner we work with to provide the function… or we’ll develop it in house!
When our NetSuite customer Crafter’s Companion – a craft supplies retail company owned by Dragon’s Den’s Sara Davies – needed to create efficiencies around the complex area of shipping carrier management, we helped them with the creation of a bespoke software solution.
Crafter’s Companion needed a framework that would allow support of a wide variety of carriers, and which could easily be extended to add additional carriers. In direct response to the challenge, we developed our own Shipping Carrier integration framework – providing a great solution for Crafter’s Companion and something that can now be offered to all relevant customers.
Additionally, we work with a variety of operational partners: the SuiteApp partners all offer solutions that are Built-for-NetSuite so complement the solution perfectly. These include Jitterbit, which provides a code-free integration between data, apps and devices, creating a fast and effective way to connect any external or in-house software with NetSuite. NextService is a Field Service Management solution, allowing firms that have field operators to effectively manage jobs and customers, on-the-go. While Tipalti improves financial processes helping firms to handle both accounts payable and global partner payments across the entire cycle.
In short, a NetSuite review could be a real eye opener, problem solver and be the kick start to digitally transform your business for a second time… whatever stage the business is at.
BrightBridge can help you maximise the potential of your NetSuite solution in line with your business needs. Whether you want a fresh pair of eyes on your existing set up or want to ask us any specific questions, get in touch now.