For professional services businesses looking to recuperate and take stock after a bumpy year, cloud Enterprise Resource Planning (ERP) software like NetSuite could hold the key to establishing a more integrated, centralised process that empowers both managers and their teams to work smarter, not harder. With the ‘imbalance’ of the work-life balance coming to the fore – thanks partly to the new norm of remote working – time is a precious commodity and best spent focused on strategy, delivery and growth should SMEs wish to bounce back during these uncertain times.
Whether you’re looking to find efficiencies within your organisation or simply improve your profit margins, Oracle NetSuite is designed to both complement and enhance already existing operations for professional services leaders. From IT consultants to designers, no business is the same, so with the additional advantage of SuiteSuccess – an engagement methodology created to enable the phased approach to NetSuite implementation – SMEs can feel reassured that they are receiving a solution that is flexible and fully tailored to their needs, wherever they are on their business journey.
In this article, we explore ways in which NetSuite provides the professional services industry with the tools needed to optimise their processes – enabling businesses to work confidently towards a more productive and profitable 2023.
A Real-time single version of the truth
While making fast moves in a fast-paced environment may be the name of the game for professional services businesses, Oracle NetSuite ERP keeps leaders informed of the bigger picture with a single version of the truth – and the power to make smarter decisions under pressure. With real-time reporting and analysis built-in, the unified suite accelerates efficiency by offering detailed insight into business performance – connecting entire organisations across finance, sales, service and more. When it comes to all-important data, NetSuite can also offer peace of mind to business consultants, for example, thanks to watertight, enterprise-class processes and policies that are rapid and reliable (and only previously affordable to larger enterprises); automated and backed up on an everyday basis, multiple layers of data protection also help safeguard against failure. Allowing teams to invest their time into client services, laborious back-office administrative processes are also streamlined with a scalable solution designed to grow with the business.
Professional Services Automation (PSA)
Oracle NetSuite’s cloud-based Professional Services Automation (PSA) encapsulates the entire bid-to-bill process for services businesses. With increased visibility and advanced utilisation of resources, PSA can drive success for SMEs by ensuring on-time project delivery – a great solution for SMEs keen to stay on track. A holistic tool designed to streamline the management of projects (down to the accurate invoicing of clients), PSA comes with the added benefit of omni-business billing – a great asset to businesses like engineers who require a more versatile model, from fixed fee to milestone to time-and-materials billing. What’s more, thanks to its cloud-based delivery, any hardware maintenance or update costs are reduced, saving businesses an often-unexpected expense in the long term.
Services Resource Planning (SRP)
For speed and efficiency every step of the way, Oracle NetSuite Services Resource Planning (SRP) empowers SMEs from across the sector to complete projects quickly and generate invoices with accuracy thanks to decreased accounts receivable cycles – reducing revenue leakage and strengthening cash flow as a result. From when new opportunities are identified to the final delivery of a project, real-time visibility gives businesses end-to-end control of the process, while also eradicating overhead costs associated with systems and integration management; with SRP providing mobile service workers with any-time, any-place access, businesses can gain visibility whatever their workplace set-up – whether remote working, office-based or with a client on-site. For IT and software companies often operating on a cross-border scale, Oracle NetSuite OneWorld complements SRP with the effective management of multiple subsidiaries, business units, legal entities, resource pools, multi-currency billing rates, and taxation rules all over the world – in turn supporting with global expansion (and all from one central dashboard).
Customer Relationship Management (CRM)
For professional services SMEs requiring a 360-degree customer view so they can always deliver an exceptional service, Oracle NetSuite Customer Relationship Management (CRM) offers the perfect solution. From driving revenue with forecasting, upselling and cross-selling – with access to cross-functional customer data – to managing global services organisations, CRM ultimately consolidates the lead-to-cash process. With customers at the heart, companies like marketing firms can benefit from the interactive Customer Portal feature, enabling accountants to personalise the client experience and drive both customer satisfaction and retention; the self-service knowledge base within the portal also helps to reduce the cost of customer care, while delivering a superior high-touch service. For efficient and productive case management, CRM accelerates resolutions by allocating and routing customer support cases on a multi-channel basis – whether online or over the phone. Time tracking is also linked to each customer record, giving businesses greater visibility over time spent on individual clients.
If you’re looking to bolster your business processes and drive effective results in 2023, there’s a package that’s right for you. Rated as a top partner of NetSuite in EMEA, BrightBridge’s experienced team of experts deliver customisable solutions that work hard for your business. To get the year off to a positive and productive start, contact us today.