There’s a lot that goes into starting and building a business. While so much goes into the beginning process, a lot of new companies find themselves struggling to grow as time goes on.
Only 2 in 5 startups are profitable, and other startups will either break even (1 in 3) or continue to lose money (1 in 3).
In order to respond quickly to their market conditions, opportunities, and customer expectations, many businesses look for application solutions that are based on affordability than anything else. This is where QuickBooks usually comes into play.
Young companies are, in a sense, forced to rely on limited point solutions like QuickBooks in order to keep up with overall business expenses. Does QuickBooks work for smaller startups? Yes. However, the affordability QuickBooks offers tends to mask the inefficiencies within routine tasks and limits your ability to expand and see growth with inadequate tools.
In the end, QuickBooks starts out by being a workable tool that turns into a number of pains. The solution? NetSuite.
What is NetSuite?
A look into the #1 Cloud ERP software.
NetSuite software is an online service that enables companies to manage all key business processes in a single system. The service involves no hardware, no large and upfront license fee, no maintenance fees associated with hardware or software, and no complex set ups.
Companies use NetSuite for enterprise resource planning (ERP) and to manage inventory, track their financials, host e-commerce stores and maintain customer relationship management (CRM) systems. This flexible platform can be applied to a range of business applications.
Many companies are turning to the cloud for delivery of their business system to lower their operating costs and strengthen their competitive advantage.
What is included?
The #1 Cloud ERP, NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 18,000 customers in more than 200 countries and territories. Its capabilities include:
· ERP – NetSuite ERP runs all of your key financial business processes in the cloud: accounting, inventory, supply chain and order management.
· Customer relationship management (CRM) – NetSuite is the only on-demand CRM system that gives you a true 360-degree view of your customers.
· Professional services automation (PSA) – NetSuite PSA helps you accurately plan, track and execute projects.
· One database, one system – Real-time, unified global business management platform to manage operations involving multiple countries, currencies, languages and subsidiaries.
· E-commerce -Unify every step of your web store from point of sale and order management to marketing, merchandising, inventory, financials and support.
· Retail – NetSuite offers a powerful, cloud-based retail software solution designed to satisfy your omnichannel shoppers.
· Manufacturing – NetSuite’s solution for manufacturing allows you to focus on delivering products and services while gaining agility for scalable growth.
NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 21,000 customers in more than 200 countries and territories.
Unlike QuickBooks, NetSuite offers:
· Increased Visibility: Keeping one set of data in QuickBooks, and storing critical updated information elsewhere, results in complex systems, conflicting data, and a severe lack of reporting. NetSuite’s cloud-based management system keeps every user and application in the same data repository. All data is updated in real-time, keeping everyone on the same page with minimized errors and allows for comprehensive insights across all business units and facets of your business.
· Increased Efficiency and Sales: With QuickBooks, your business can’t be agile and responsive. NetSuite provides E-Commerce, CRM, ERP, Inventory Management, Billing, Revenue Management and HR in one centralized cloud platform, making your business freer and faster.
· Business Growth: NetSuite has proven that one streamlined software suite will support your growth and offer scalability as your business grows, ensuring that your data is up-to-date and accurate across the company, essentially ensuring that NetSuite is the last system your business will ever need.
How do you know if it’s time to make the switch?
· Take the time to understand your business needs and key business requirements.
· Consider how much you are using QuickBooks vs. other applications and spreadsheets.
· Analyze the amount of time and effort your company uses within QuickBooks and determine where and how you want to cut back.
Whether your company is already experiencing some pains due to QuickBooks or if you can foresee some issues about to arise, it’s time to explore a more effective and efficient solution. Take a free product tour with NetSuite and see if their cloud-based products and services are what you need to grow and scale your business right.