Financial Software for Growth and SUCCESSFUL Planning

On Nov 14, 2020 1:16:00 PM
Saher Ghattas

Saher Ghattas

Chief Revenue officer

Are you frustrated with your company’s Financial Software? Then this text is for you! Generally, business growth is an admirable goal to achieve. When companies change, expand, and grow more complex over the years, most small and mid-sized businesses are reaching a crossroads: legacy software or – behold! – manual accounting and financial processing can’t keep up anymore and the looming decision of adapting a new financial management platform. But which one is right for you?

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Operation visibility and real time cashflow management are critical for any organization, but they’re even more crucial for small to mid-sized businesses because they can have a critical influence on daily operation efficiency, executive strategies, and thus healthy growth and stability in the future.

If you are a fast-evolving company anywhere from $2M-$50M in annual revenue, you have to be aware of the implications of insufficient financial management tools. A lack of real-time visibility or hours wasted on manual processing will cost you more than just money: if your budgeting and financials department is limited by its software platform, it’ll get only worse a year or two down the road.

Unleash your Finance Team’s full potential

It’s no surprise that inadequate business management tools can hold your finance team back. While QuickBooks has – for a reason – become the industry standard and first pick for many a small business and can be a solid fit as a “starter platform,” in many cases it turns into the bane of any finance team’s existence once they hit rapid growth stage.

Breaking the cycle by switching to a different platform saves costs, opens up new streams of revenue, and allows your team to “breathe.” An upgrade to a more powerful platform can alleviate your finance team’s pain and set up your business with the proper systems to support a healthy and stable growth.

Outgrowing QuickBooks? It’s Time to Upgrade

What are the signs that it’s time to upgrade to a new system? There are a range of indicating factors: friction in your daily operations and complaints from team members about internal problems are the obvious ones. Less visible pointers could be a low client retention rate (e.g., as a result of too complicated a transaction process or long waiting times), as well as unexpectedly high overhead costs in the financial department or in customer service.

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A switch from QuickBooks to NetSuite helps companies in a rapid growth phase alleviate business pressures by:

  • Empowering your team through real-time visibility: Today’s accounting world requires consolidated views and real-time reporting to ensure your business is thriving. With regulations tightening every day, it is imperative that your business has up-to-date information consistently available.
  • Eliminating manual processes: If your people find themselves spending much of their day manually entering sales orders, invoices, or budgets, it is time to seriously look into an upgrade.
  • Spending less time thinking about technology: Your company’s software should be flexible enough to adapt to your changing business; your team shouldn’t have to spend hours thinking about how a new layer of business will fit with your current platform. An adaptable solution unlocks possibilities for your team instead of limiting them.

NetSuite: Finance. Simplified.

NetSuite is the world’s #1 cloud financial and accounting software for a reason: reliable quality, experience values from ten thousands of businesses every year, and a software environment that enables your business to dream – and work – big.

What Quickbooks is for small, new businesses, NetSuite is for established companies in a growth phase. More than 21,000 organizations trust NetSuite to run their end-to-end business processes because it delivers comprehensive financial management capabilities on a single cloud-based platform.

From a comprehensive overview down to individual tasks, you can track each and every transaction in one place, look at detailed analytics, and export custom reports and forecasts.

NetSuite has future-facing features for modern businesses that will:

  1. Accelerate the order-to-cash process by 50% or more.
  2. Cut down on financial close time by over 50%/month.
  3. Obtain dailycash balance reports thanks to up-to-the-minute comprehensive dashboards.
  4. Drive better and faster decision-making with personalized dashboards and real-time data & reporting.
  5. Improve workforce productivity with anytime + anywhere cloud access.
  6. Lower cost of ownership by eliminating upfront software expenditures, get predictable pricing models, and benefit from automatic product upgrades.

Finance & Budgeting Integrations that Push You Forward

NetSuite financial management integrates seamlessly with NetSuite Order Management, Inventory Management, CRM, and eCommerce for an end-to-end suite of products that foster a productivity-driven environment.

  • Up-to-the-minute information and insight: Improve performance with real-time metrics and customized dashboards.
  • Close with confidence and ease: Accelerate the financial close cycle while maintaining compliance with applicable accounting standards on a state, local, and global level.
  • Streamline the entire back office: Eliminate manual processes with seamless integration between financials, CRM and ecommerce.
  • Report with accuracy: Drill down into the 300+ pre-built accounting reports to understand the future impact on your business.

 

As a NetSuite certified partner, Flawless can help you with every step of transitioning to a more powerful financial software environment. We leverage our P3 approach – Platform, People, Playbooks – to bring you the technical, professional, and strategic expertise you need. We’re looking forward to helping your business rise above the noise! Let's talk Business.

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