2nd February, 2017 | by Joel
Read on to find out the 4 Reasons Your Business has Outgrown MYOB and Why It Needs NetSuite
Business can be complex, especially when your operations are pushing up and out into new territories. Unfortunately, most of the current business technology just adds to that complexity. If you’ve been struggling, the reason might be that business software solutions, even the respectable ones like MYOB and Quickbooks, are letting you down. It’s probably time to consider finding a better system to fit your growing business.
NetSuite is a cloud-based system that offers a slew of accounting and business reporting solutions specifically designed for the commercial digital businesses. While NetSuite comprehensively provides the technology your business needs right now, it’s not locked into place. As your business expands, your software will seamlessly expand with it. Unlike current business software, NetSuite offers a rare opportunity to streamline, simplify, and accelerate what you do.
1. You want to stay informed
Your ambitions for your business probably aren’t fixed. If you’re like most other growing businesses, they’re dynamic and they grow as you work and explore. It’s important that your cloud-based accounting software is prepared for your growth, and can give you accurate updates as you navigate your way through new and exciting endeavours.
“You need reliable data to make accurate projections and develop efficient budgets. No matter how good you are, you just can’t achieve it based on your intuition alone.”
One of the biggest signs that you’ve outgrown MYOB is that your sales forecasting and budgeting processes are taking too much guesswork. You need reliable data to make accurate projections and develop efficient budgets. No matter how good you are, you just can’t achieve it based on your intuition alone.
NetSuite is aeons ahead of other solutions in terms of reporting and accuracy. It offers features from the outset that other software systems like MYOB, Quicken, Quickbooks and Intuit consider advanced technologies. NetSuite delivers a state-of-the-art system to help you connect, filter, and compare data in a way that’s flexible enough for you to analyse and adjust as you need to. However, it’s also sophisticated enough to give you all the powerful advantages of NetSuite’s automation so you won’t be spending valuable working hours in manual spreadsheets.
“NetSuite’s scalability also means that it’s just as ready as you are to keep your business operations secure, efficient, and easy to monitor as you develop upward and outward.”
NetSuite’s scalability also means that it’s just as ready as you are to keep your business operations secure, efficient, and easy to monitor as you develop upward and outward. Being informed about your business isn’t just a matter of having access to a lot of information, it matters when and how you get it. NetSuite offers a clear, detailed, and streamlined real-time picture of your business’s processes and schedules, so you can easily see what’s going on and what’s up ahead.
2. You want to stay secure and available
Your business obviously means a lot to you, but it means as much to everyone involved: employees, shareholders, partners, or customers. It’s important to safeguard your assets, particularly as it grows and your exposure to security risks rises.
“NetSuite delivers state-of-the-art security systems to protect you from outside threats. It also offers unrivalled cloud-based backup systems to robustly protect you from spikes in volume and usage and losses you cause yourself simply because you’re human.
Your business software solutions need as much protection as you can get. Besides losing sensitive information and money, one of the best reasons to choose more secure business software systems is to avoid losing time. Your skills and efforts should be spent doing what matters most, not lost to downtime or a compromised system. Most existing systems, including Quicken and Quickbooks, have only limited security offerings which puts your business at risk. NetSuite delivers state-of-the-art security systems to protect you from outside threats. It also offers unrivalled cloud-based backup systems to robustly protect you from spikes in volume and usage and losses you cause yourself simply because you’re human.
NetSuite’s enviable expertise in cloud software means that it’s able to deliver both affordable and reliable protection for your business. NetSuite’s dedicated, continuous security measures reduce your business’s exposure without the downtime and disruptions, and without investing time and labour in maintaining third-party security systems. It also empowers you to control employees’ access to NetSuite’s functionality and to keep permissions current, making it easy to operate an efficient, unified business without the extra complication. Whether it’s round-the-clock detection of malicious traffic, or physical checks and staffing procedures to regulate access to your data, NetSuite works to maintain the best possible defence however your business is changing and growing.
3. You want to communicate better and faster
Your business is only as good as your ability to meet demand and responsibilities. If you’re not giving and receiving information quickly and accurately enough, your existing business management software is probably what’s letting you down.
Your customers are increasingly savvy, and they’re demanding more transparency and responsiveness from your service. Using outdated business accounting and management software like MYOB or Quicken is likely responsible for many of the customer service failures you might be having. It’s essential, especially in this day and age of cutthroat competition, that agents have real-time access to information. If they can’t answer questions instantly about inventory and orders, your business is going to lose its customer base. NetSuite can solve all of these issues, whether you’re at work or on the road, you’ll always have instant and accurate information about your stock and order statuses and tracking. It can even save you thousands in wastage, by helping you to engage with your customers to move time-sensitive inventory through a tailored sales push.
4. You want to use just one system
Most business accounting and management software systems, including Quicken, Quickbooks and Xero, are only designed to deal with a small set of accounting functions. They simply aren’t sophisticated enough to accommodate your needs in dealing with growth and change in your customers or inventory. You’ve probably found yourself trying to make your business operations fit within the limitations of the system.
“If you’re doing most of your accounting and management across multiple programs to counter the restrictions of systems like MYOB or Quicken, moving to NetSuite could save you buckets of time—and a corresponding truckload of money.”
It doesn’t have to be this way. If you’re doing most of your accounting and management across multiple programs to counter the restrictions of systems like MYOB or Quicken, moving to NetSuite could save you buckets of time—and a corresponding truckload of money. From SKU management, to billing and invoicing, to business planning and reporting, to taxation, NetSuite can perform every task your business needs to operate smoothly.
And you can do it your way. The NetSuite app ecosystem lets you build your own engagement with the platform and consolidate information quickly and easily. You can also access a wide range of carefully tailored training in using and fine-tuning the system’s elastic capabilities. Because your business is unique, and the demands on your attention and time vary, you can configure the ways in which you stay up-to-date: you can customise your view according to your preferences to minimise confusion and maximise control.
There’s no business that NetSuite can’t transform. If you’re ready to head into a new year and a new age of streamlined operation, Applejack can help. Contact us anytime to find out more about how we can help you harness the power of cloud-based automation with NetSuite, and we’d love to see what you can achieve with the right business solutions.