Blog posts

The role of a Chief Financial Officer (CFO) is dynamic and demanding. This position is at the heart of an organisation's financial operations and it has changed a lot over the years. A CFO’s day-to-day activities encompass a vast range of responsibilities, from monitoring key metrics to strategic financial planning. However, there is always more that can be done to drive a business forward. After all, the CFO plays a pivotal role in shaping the financial health and overall success of the organisation.

 For CFOs looking for ways to not only improve their organisation’s financials but stay abreast with other aspects of the business and cement themselves as strategic stakeholders, we have created a list of key additions to a CFO’s checklist. While there might not be enough hours in every workday for these tasks, finding time to incorporate them into your workload can help to improve your professional performance as well as the performance of the business.

A healthy cash flow is crucial for businesses, especially during challenging economic climates when many are concerned about their near-term future. In uncertain times, businesses often experience a reduction in revenue, while expenses and operating costs remain constant or even start to rise. Without adequate cash reserves, businesses may struggle to meet their financial obligations and finance teams need to go back to basics, carefully review their finances and properly manage their cash flow.

For any business that buys and sells products, inventory control plays a huge role in cash flow. It’s key to ensure that you have the necessary resources to sustain operations and meet demand, but this can result in money being tied up in inventory. If you’re looking to optimise your cash flow, minimising expenses related to buying, holding and selling items is key, and the importance of improving inventory management shouldn’t be underestimated.

Fortunately, having tighter inventory control can help to improve cash flow and if you’re concerned about the current economic climate, now is the time to focus on your inventory. Below we have explored how inventory management can help with cash flow and how NetSuite can support inventory-related savings.

We run our business based on a core set of KPI’s relevant to our business and our industry. The value of being able to spot deviations at a glance and be able to tweak as we go means that there are no big shocks, just some small bumps that need smoothing out every now and then. Staying on track is so much easier to achieve when there is a track to follow in the first place.

Before we get deeper into this topic, let’s first of all take a look at what KPIs actually are. KPIs, or Key Performance Indicators, are performance measurements that allow businesses to track the progress of their goals and objectives. These indicators are hugely beneficial as they are used to assess the effectiveness of strategies, operations and performance.

When purchasing technology, some small businesses will be hesitant to invest in advanced solutions. Often, entry-level systems will be more affordable, and they can be suitable to start with, providing a straightforward solution to keep track of operations. However, over time, they can become inconvenient. Not only can basic systems make it harder to operate efficiently, but they can even hold businesses back as they start growing, causing expansion opportunities to be missed.

Having a suitable inventory management solution for your business is incredibly important, especially in these times of supply and personnel uncertainty. More and more warehouses are moving away from time-consuming manual inventory processes and investing in technology that can help them better position their business for success.

If you currently use spreadsheets to manage inventory, there is a high chance you frequently find yourself with stock levels that are too high or too low and you have to deal with stock counts that don’t align with what’s really in your warehouse. When you implement the right inventory management solution, you can minimise manual work, streamline day-to-day operations and improve efficiencies. This, in turn, will help you to overcome common challenges faced by businesses, adapt to future changes and achieve your goals.

To run projects efficiently, you need to ensure your costs and revenue data are working in harmony. Centralising data and having real-time project and financial performance metrics can be undeniably beneficial, and it can help you to keep track of all project costs. NetSuite solutions, such as NetSuite SuiteProjects, can assist you with both project management and revenue management, providing you with a centralised solution where you can effectively capture costs and automate billing processes.

Below we have explored how project-based organisations can use NetSuite to keep tighter control on project costs from the moment an opportunity is identified, through to its final delivery.

NetSuite Release 2022.1 Preparation 

It’s NetSuite New Release time again and soon we’ll be bringing you our commentary and insights into the new features. As usual, 2022.1 delivers some great new features and enhancements, all designed with customer usability and performance improvements in mind. In this blog, we’ll be focusing specifically on what you need to do in advance of the upgrade.

The Irish FinTech sector is evolving at a rapid pace. As Software-as-a-Service (SaaS) vendors grow and remote work becomes more prevalent, businesses and their finance teams, are having to rethink how employees collaborate.

FinTech companies in particular are typically characterised by quick growth, combined with hectic workloads, which leaves them with limited time and financial resources to find the right ERP software to run their business. Consequently, a lot of FinTech companies end up using spreadsheets and legacy software that has been around for decades.

Companies that require Field Service Scheduling Software normally have many moving parts to synchronise. If you’re using a paper-based, spreadsheet, or a physical schedule board, then keeping everything organised and everyone in the loop is a challenge. With employees dotted about in different locations it’s critical that everything is tracked to ensure you optimise the use of their time and inventory.