When they first start out, many businesses use a cheap and cheerful accounts package. This package will help them to capture customers and suppliers, raise invoices, chase debtors, see banking transactions and meet their revenue obligations. Whilst small accounts packages can be great to get businesses started, as they grow and transaction volumes increase, complexities start to raise their heads.
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.
Among the challenges facing renewable energy (RE) companies that are manufacturing, installing, or servicing renewable sources such as wind turbines or solar panels, keeping costs down is at the top of the list. From a broad perspective, installation costs for RE businesses can be grouped into two categories: hardware and soft costs. Hardware costs are self-explanatory, including the cost of components required to harness energy—solar panels, converters, wind turbines, hydropower or biomass processing equipment, and more. Soft costs include labour, sales and marketing expenses, permitting and inspection fees, and other associated administrative costs.
When choosing an ERP solution, you have the option of on-premise systems and cloud systems. Whilst traditionally, on-premise ERP solutions were able to help businesses overcome operational challenges and streamline processes, nowadays cloud-enabled solutions are becoming much more popular to implement, especially amongst technology-driven businesses.
Whilst FinTech companies use innovative products and technologies to make financial services more efficient for their clients, it isn’t uncommon for lots of FinTechs to still use legacy software and spreadsheets themselves. The right ERP software can transform the day-to-day operations of any FinTech company and help them to overcome many of the challenges faced across fronts such as profitability, risk management, compliance and even recruitment.
If you’ve already been upgraded to NetSuite 2022.1 upgrade as part of the release upgrade process, then you may already have seen some of the new features. If your upgrade hasn’t taken place yet, you’re in for a treat. Either way, we thought we would save you some time and bring you a snapshot of our favourite feature enhancements.
In this article, we’ll be covering:
- Intercompany Accounting
- Warehouse Management
- Supply Chain
There are multiple benefits associated with implementing an Enterprise Resource Planning (ERP) system and integrating multiple business functions, such as increased productivity and efficiency. However, in order to be able to reap these benefits, it is essential to make sure you’re not just choosing the best system for your individual requirements, but you’re also opting for the right solution provider too.
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.