How Can NetSuite Resolve Growth Challenges for Small Businesses?

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How Can NetSuiteResolve Growth Challenges for Small Businesses

Small businesses are becoming more and more popular as people see the appeal of working outside the established framework and more in accordance with their own skills and interests. Such undertakings are usually pursued with the goal of the venture in question eventually growing into a much larger flourishing company. While all small businesses do have the potential of achieving this goal, they are also certain requirements to be able to do so. The software system being used by any business is an imperative factor in whether or not it will be successful. Choosing the wrong system could set the company up for problems at the very start, potentially leading to high costs and inefficiency. Therefore, any new company must make an informed decision about which solution will provide the features that will benefit them the most in the long run.

ERP systems are currently being used by businesses of all kinds around the globe. One specific system which aligns with the needs of small businesses is Oracle NetSuite. NetSuite is mainly suited for up and coming businesses due to its agility and scalability, making it the perfect fit for any company that is in its initial phases and planning to grow. These features make it beneficial in the long run, as opposed to outdated or less advanced software system that might ultimately not be able to meet the requirements of the business in question. There are several aspects of Oracle NetSuite which assist in achieving this goal.

Working on Cloud

One integral feature offered by NetSuite is the ability to work on cloud. This ERP operates fully on a cloud server, making it possible for all employees to access data without any hassle. This increases visibility across the business, making it easier to manage and to keep everyone updated at all times. There is also an increase in efficiency as employees do not have to constantly manage the menial tasks of managing and transferring data, and instead can focus on achieving their targets.

The benefits brought about working on cloud helps small business in two ways. The first is flexibility on location, as data can be made visible to all employees regardless of their physical presence. This allows employees to work safely from home without negatively affecting company performance, and also opens new avenues of 100% remote work, so hiring can be done on the basis of skill alone and companies are not hindered by location. The second benefit is companies having freedom to expand across different locations. The ease of managing and sharing data brought about by cloud makes it much more feasible to operate from multiple locations, allowing for a business to expand with ease.

Cost Effective

One challenge that small businesses face while growing is managing costs. While growth takes investment, it is important for any new business to not drown itself in costs that will be difficult to recover down the line. NetSuite is ideal for small businesses because of how it proves to be cost effective in the long run. Firstly, it reduces IT costs as many parts of the business are managed by the ERP, and does not require the constant maintenance that using multiple solutions would. And secondly, NetSuite can constantly be customized and upgraded as the business evolves. As any small business grows, it is inevitable that its needs will constantly change. NetSuite’s ability to adapt, not to mention its options for customization, ensures that companies will not need to resort to expansive changes in software systems as they grow. Furthermore, during the implementation process, businesses can choose the specific features they wish to include in their package. This allows them to decide what is the most cost effective avenue for them as they move forward.

Customization

Another way NetSuite is ideal for small businesses aiming to grow is the option to customize the solution according to every company’s individual business needs. Every business has its own unique challenges it needs addressed by its IT solution, and would benefit from a system tailored to address its circumstances rather than a standard system it would have to adjust to. This not only provides a flexibility in costs but also with future growth. Customizations can be done keeping in mind the objectives of the business to ensure the solution is scalable to its expansion plans. This, along with the compatibility provided with the future models of NetSuite itself, allows businesses to make the most of their solution. Such options are provided by different companies with expertise in implementing the ERP, such as the NetSuite Folio3.

Scalability

Scalability is one of the main factors that makes NetSuite a good option for small businesses. Utilizing this ERP makes it possible for a business to grow sustainably, instead of expanding in a way in which it is unable to support itself. The visibility provided by NetSuite across the company in question makes it possible to manage growing business operations, even across geographical boundaries. Furthermore, the automation of processes and efficient data transfer provided by different marketplace and ecommerce connectors, such as the Magneto Connector, allows for accuracy in meeting customer demand and efficient business operations no matter the volume of orders. NetSuite is built to assist businesses keep up with orders with both speed and efficiency, enabling a company to retain the ability to do so even while undergoing expansion, mitigating the risk of being unable to keep up with business operations after growth.

Client Retention

Finally, NetSuite assists small businesses meet their aim to grow by providing a platform for superior customer service, ensuring client retention. For any company to be successful it is imperative to not only constantly expand the clientele but also retain these customers, ensuring steady business. NetSuite’s features offer an easy and efficient shopping experience. This is done through providing accurate information for informed decision making, allowing clients to service themselves saving valuable time, and increasing efficiency allowing for speedy fulfillment of orders. Considering the competition amongst small businesses today, any company providing ease to the customer and operating on maximum efficiency will stand out and not only grow their customer pool but also ensure continued business form their existing clients. Ultimately, this is what will allow for the business to flourish.

Conclusion

In conclusion, Oracle NetSuite is the ideal software for small businesses as it has the features to support their growth and development. NetSuite can provide ease managing business operations while ensuring cost efficiency, while also allowing businesses to evolve through its customizable and scalable features. It allows for companies to not only attract but also maintain new business, ultimately setting up a platform for sure and sustainable growth.