4 ways to improve business performance with NetSuite

Adnan Patel
| 1/4/2021
4 ways to improve business performance with NetSuite

Before investing in an ERP, you want to be sure it can really improve your bottom line.

But how exactly does an ERP improve business performance?

Upgrading to an enterprise resource planning (ERP) software can set your business up for a strong future – but you need to realize revenue increases sooner rather than later. Crowe has helped many midsized companies gain greater market share and reduce costs with NetSuite – and here are some of the top ways we’ve seen it happen.

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1. LEVERAGE INCREASED VISIBILITY AND REPORTING DATA

NetSuite ERP gives your employees in every business unit the ability to access the same data at any given moment, anywhere in the world. Many companies are running on different software platforms in each business unit that simply don’t talk to each other effectively.  

It’s possible your team is spending countless hours wading through spreadsheets or importing and exporting data just to see the big picture. And that’s not counting the separate costs (and the headaches) that come with incompatible systems. 

Consider the following cost benefits: 

  • Real-time data. Forget about the lag time it takes for you to mine data, export it, and send it over to another business unit. Everything you and they need to see is provided with a click of a button. It’s real-time – and it’s timely. 
  • Accurate data. Your ERP system will not only allow you to see real-time data, but most importantly, accurate data. Your accuracy of data comes from having a centralized database that is not dependent on information from other software platforms. 
  • Compliance data. As your organization grows, the need to provide reports for industry and regulatory compliance becomes greater. The accurate reporting tools provided by NetSuite ERP make getting access to the right information easy. 
  • Data visualization. NetSuite ERP provides numerous ways to present data visually, including graphs, charts, and histograms. In essence, it creates a visual story to provide key insights and trends. 
  • Mobile access. For employees who spend much of their time out in the field, mobile access is essential. The ability to access real-time and accurate data from a mobile device is a time- and cost-saving tool that can add up dramatically. 

2. IMPROVE ORDER MANAGEMENT

If you’re looking for an effective solution to provide world-class business efficiency, you’ll be impressed by the order management module in NetSuite ERP. You’ll save hours of employee investment with a system that integrates sales, finance, and fulfillment teams in an efficient and accurate process. In addition, automated processes support prompt invoicing and payment to increase your cash flow, reduce errors, and delight your customers. 

  • Profitability and pricing. Analyze the impact of creating multiple price levels, discounts, and promotions to maximize profitability. 
  • Processing of orders. Expedite your order-to-shipping time frame and view real-time visibility of order fulfillment. 
  • Customer relationship management. Delight your customers with excellent communication throughout their entire buying experience. 
  • Customer refund management. Turn a potential complaint into a compliment through an efficient, customer-focused process. 

Depend on a NetSuite implementation partner that goes the distance.

We’ve got an implementation model for every need. And when you need continued NetSuite support, you'll still be talking to the same Crowe team you started with. 

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3. STREAMLINE PRODUCTION MANAGEMENT

Efficiency of production management and visibility of the manufacturing process are critical components for you and your organization. But how can ERP improve a company's business performance? With NetSuite ERP, you can have the real-time visibility you need to oversee the production process from start to finish, as well as make well-informed adjustments. The automation of processes will create greater efficiency and allow your products to be delivered on time while reducing costs.  

 

Features provided are: 

  • Product data management 
  • Work order management 
  • Planning and scheduling 
  • Quality assurance

4. OPTIMIZE YOUR PURCHASING POWER

Without an effective solution, the process of purchasing can be labor-intensive, with employees spending vast amounts of time researching and communicating with numerous vendors.  

The NetSuite ERP procurement solution can make purchasing easier. When you get visibility into overall costs, as well as crucial data on vendor performance, you and your organization can make adjustments when they’re needed. This enables you to buy goods and services promptly, save on costs, and save valuable time (and stress) for your employees.  

 

Key components of the NetSuite ERP procurement solution include: 

  • Vendor management 
  • Purchase requisition 
  • Purchase order management 
  • Purchase approvals

THERE ARE MORE OPPORTUNITIES TO  IMPROVE BUSINESS PERFORMANCE WHEN YOU FINE-TUNE NETSUITE TO YOUR BUSINESS.

Here at Crowe, we know that every company is unique, and improving performance can’t be done with a cookie-cutter approach. That’s why our experienced team creates NetSuite ERP customizations and applications that can lead to even greater efficiency, increased visibility, and reduced costs.

Our NetSuite specialists are here to answer your questions.

Let's talk through how NetSuite ERP can help you innovate your organization, increase your bottom line, and improve your business performance.
Adnan Patel
Adnan Patel
Principal, Consulting
Steven Parker
Steven Parker
Managing Director, Consulting
Alejandro Alvarez
Alejandro Alvarez
Senior Manager