5 Ways NetSuite ERP Delivers a ROI for Small Businesses
May 25, 2021
Many startup companies and small businesses assume that the acronym “ERP” is a far-off dream only attainable once an organization reaches a certain threshold of sales, employees, or locations. Thanks to cloud computing and advancements in enterprise resource planning technology, nothing could be further from the truth.
In fact, the sooner a company puts a unified, cloud-based ERP like NetSuite in place in its lifecycle, the sooner it can begin reaping the rewards of this decision. Then, as the company hits its growth curve and begins adding new products, services, employees, and locations, it already has a robust, centralized business management platform in place to manage the expansion.
Unfortunately, companies that took the QuickBooks-and-spreadsheets approach now have to scramble to catch up and go through time-consuming data migrations to get back up to speed with their growing operations. Companies with NetSuite ERP in place can effectively “skip the line” and continue with business as usual even as their enterprises expand, morph, and grow.
Here are five more ways NetSuite delivers return on investment (ROI) for small businesses:
1) Get everything you need, but you decide what you want to use.
NetSuite ERP is a suite of software modules that use a single database that serves as a master source of company data. With a financials, accounting, and operational core, the suite includes modules like inventory management, human resources, supply chain management, and project management. It also supports customer relationship management (CRM), sales, marketing, e-commerce, and other critical business functions—not all of which have to be turned on at once. Once NetSuite ERP is implemented, your growing company can add new functionalities with minimal hassle.
2) Get everyone in the organization on the same page.
When they replace disparate systems and spreadsheets with NetSuite ERP, small businesses can more effectively manage order processing, production control, order fulfillment, accounting, and finance. “By using a common technology platform and database throughout the company, small businesses can integrate departmental activities and achieve a range of cost, operational, and productivity benefits,” Ian Linton writes in Pros & Cons of ERP Systems for Small Businesses.
3) Respond quickly to new business opportunities.
With consistent, reliable data at their fingertips in a centralized databased, small businesses can improve the speed and quality of decision making. The real-time data helps marketing, management, and accounting teams make vital decisions on time, and with less (or no) human intervention and mistakes. “Senior managers have an overall picture of operations,” Linton writes, “so they can make effective decisions on investment and resource allocation and respond quickly to changing business opportunities.”
4) Support your suddenly-remote workforce.
During the pandemic, many small businesses shifted to part-time or full-time remote work schedules in response to local ordinances. According to the U.S. Small Business Administration (SBA), 57% of small to medium-sized business owners said they will continue to offer remote work options for the long term. “Depending on your type of business, you may need to consider offering remote work options to compete for talented workers in 2021 and beyond,” the SBA points out. “This also means that you may need to invest in additional technology and software solutions going forward to ensure that your employees can telework.”
5) Make more money.
According to a recent industry survey, roughly 80% of small businesses are not taking full advantage of available technology, and those that do have a definite leg up in the marketplace. Semrush says that small companies that fully utilize technology earn two times more revenue per employee, experience nearly four times the revenue growth annually, and were almost three times more likely to create jobs in the next year. The most important factors when looking for new technology are ease of use (69%), trustworthy vendor (63%), and price (61%), all boxes that NetSuite ERP checks off for companies of all sizes.
Too often, businesses are held back by entry-level software systems that can’t scale and unreliable manual processes that cut into performance and profitability. All small businesses need easy-to-use, agile business solutions that are cost-effective, scale rapidly, and prepare the company for long term innovation and growth. As the #1 choice to run financials/ERP, CRM, and e-commerce applications in the cloud, NetSuite ERP meets the evolving business requirements of fast-growing companies at every stage of their growth.
Combined, these benefits should make any small business
What is Holding Small Businesses Back from Investing in ERP?
Too often, businesses are held back by entry-level software systems that can’t scale and unreliable manual processes that cut into performance and profitability. The lack of standardization and automation can be crippling for small businesses trying to scale, but they often don’t have the resources to invest in enterprise resource planning (ERP) software.
Some common barriers to ERP adoption among small businesses include:
Many small businesses believe that ERP solutions come with 6 figure price tags. However, NetSuite ERP is an affordable solution for small businesses. In addition, the ROI of NetSuite ERP has been shown to be as high as 538%.
2) Implementation and Change Management
ERP implementation can be daunting and resource intensive. However, with the right partner like CEBA Solutions, your small business can have a successful NetSuite ERP implementation. In addition, CEBA Solutions has a team of change management experts that will help your business every step of the way during your digital transformation.
3) Lack of Resources
Small businesses often lack the internal resources to evaluate, select, and implement an ERP solution properly. CEBA Solutions has a proven methodology for managing your internal resources and risk.
4) Lack of IT Support
Many small businesses lack an in-house IT team to support their ERP solution. NetSuite’s cloud architecture doesn’t require an on-premise IT infrastructure, which means that your small business can focus on its core competencies. In addition, CEBA Solutions offers full support to our clients so that you can rest assured that your business is always up and running.
Partner with CEBA Solutions
All small businesses need cost-effective, easy-to-use, agile business solutions, scale rapidly, and prepare the company for long-term innovation and growth. As the #1 choice to run financials/ERP, CRM, and e-commerce applications in the cloud, NetSuite ERP meets the evolving business requirements of fast-growing companies at every stage of their growth.
Combined, these benefits should make any small business want to explore the possibilities that NetSuite Cloud ERP and CEBA Solutions offer. But is your business prepared to take the next step?
CEBA Solutions has over a decade of experience helping small businesses implement and get the most out of their NetSuite investment. Our knowledgeable consultants will take the time to understand your business goals, processes, and specific pain points before recommending a solution to help you achieve long-term success.
CEBA Solutions is a NetSuite Solution Provider and Partner providing comprehensive services to organizations worldwide since 2006. We offer a full suite of NetSuite services, including Implementation, Support, Optimization, Development, and Training. Our team has completed over 50 successful NetSuite implementations for companies ranging from start-ups to Fortune 500 companies.
Schedule a free consultation today to learn more about partnering with CEBA Solutions for your NetSuite needs.
Zabe is a hands-on company Founder and President with expertise across multiple verticals to include business development, operations, distribution, finance, logistics, manufacturing, and the eCommerce industry.
With over 20 years of experience in the industry, Zabe works to support growing businesses by helping integrate digital and software solutions to optimize their operations and save them money. Together, we help companies manage core business processes with a single, fully integrated system covering Enterprise Resource Planning (ERP), financials, Client Relationship Management (CRM), procurement, warehousing, eCommerce, inventory, third-party logistics (3PL), and much more.