In the manufacturing industry, efficiency and adaptability are paramount. However, many small to medium-sized businesses struggle because they are using several different applications to manage their day-to-day operations. Inadequate and outdated software can have a huge impact on not just the productivity of manufacturing businesses, but also their decision-making capabilities and flexibility in unpredictable markets.

Instead of adding new applications to your already complicated system, it’s beneficial to invest in a comprehensive solution that covers the whole supply chain. This is particularly useful if your current applications are incompatible and you have limited visibility of vital business information. Manufacturing businesses of all sizes can transform how they do things by simply introducing NetSuite’s ERP solution. This cloud-based system can help you overcome common challenges experienced throughout the manufacturing industry.

Below we have explored why so many businesses are embracing cloud ERP systems and the benefits of swapping your tangled web of applications for one singular system. For anyone new to ERP solutions, we have also put together some advice for making the switch to NetSuite.

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.

Centralising Field Service Management Systems is key 

Field service organisations ranging from HVAC to Medical and from Environmental to Facilities Management, provide specialised services to customers onsite, from installation and maintenance to repair and troubleshooting. There are many moving parts when it comes to managing, organising, scheduling, communicating and record keeping. While technicians go about carrying out their day-to-day jobs, it's critical that jobs are carried out in full compliance. There's no room for error as the consequences could be catastrophic.

Due to the nature of field service operations, it can be a struggle to keep all the balls in the air from operations and systems to finance, inventory, customer experience through to compliance. Managing all of these elements using docket books, sticky notes, whiteboards and spreadsheets is tricky at best, not to mention extremely risky, particularly when it comes to safety and compliance. It's surprising to observe the extent at which ad-hoc systems and processes are being used by companies operating in this environment. Centralising data and automating processes to ensure that best practice is not only observed but is followed by every single employee or contractor is a must-have in today's highly regulated environment. Purpose-built field service software can not only improve efficiency but also save organisations money across several business critical areas.

Completely unified solutions like Next Service for NetSuite are incredibly popular, their ability to cut costs and increase revenue means they have an impressive ROI for organisations of all sizes. In addition to improving things such as inventory management and customer experience, field service management software can even help to improve workplace safety and compliance. This is easy to overlook and it’s not often associated with field service systems, but staying fully compliant and reducing injuries can save organisations a considerable amount of money.

Below we have explored how you can not just enhance operational efficiencies with field service management solutions, but save money by remaining consistently compliant and safe.

There are so many advantages to investing in an ERP system and it’s something that the vast majority of businesses will decide to do at some stage. ERP solutions can manage your business and operational requirements in a smart and efficient way, and they are highly flexible, powerful and insightful. Cloud-based ERP systems are often the first choice for many businesses looking to improve efficiencies and reach their full potential.

Before deciding to go ahead and invest in a new business solution, many organisations have the same concerns and ask us the same questions. So, to help any businesses interested in starting an ERP journey, below we have answered some of the questions we’re most frequently asked.

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.

It isn’t uncommon for small and medium-sized manufacturing companies to use several different systems and applications to operate their business. Often, they will purchase new applications every time an issue occurs too, rather than simply upgrading their whole system, and these applications won’t all be integrated into one another. Over time, this results in their operating system becoming unnecessarily complicated and there’s a high chance that it will still lack the capabilities they need to improve day-to-day efficiency.

Understandably, manufacturing companies may be concerned about upgrading their software, whether this is due to the cost of doing so or the disruption that getting used to a new system can cause. However, it’s almost always worthwhile upgrading to a single, flexible, cloud-based Enterprise Resource Planning (ERP) system like NetSuite. An integrated ERP solution has several benefits and NetSuite can have a huge impact on your business processes.

Below we have looked into some of the biggest signs that you shouldn’t put off upgrading your outdated system to a modern cloud-based solution such as NetSuite.

As I work from home, I see many field service workers coming and going during the day… from plumbers and electricians to renewable energy consultants to bathroom installers. Recently, I have begun to take a more active interest in their systems. Are they using a clipboard, a phone, laptop or tablet? It’s amazing how much information you can gather by just observing.

Would it be fair to assume that the companies with the clipboards and the pens are not as professional as the companies with all the technology? I’m not sure I can leap to that conclusion just from my small amount of observation, but there are definite benefits that companies can derive by having the most efficient tools at their disposal.

I hope you find this article interesting and be sure to download our field service management checklist below.