As your software as a service (SaaS) company scales, you will need to reevaluate and update your enterprise resource planning (ERP) system. An ERP system helps businesses manage their customer data, finances, and other key aspects of their operations. While there are many ERP options on the market, not all of them are created equal. Here are four critical requirements to keep in mind when selecting an ERP system for your SaaS company:
Your ERP should be able to handle your SaaS company's current and future growth
As your SaaS company grows, it's important to make sure that your ERP system can scale with you. If your system isn't scalable, you'll quickly run into problems as you try to expand. Your system will be less efficient, and you'll start to see errors and crashes more frequently. In the worst case, your entire system could collapse, leaving you scrambling to recover lost data and rebuild your business databases from scratch. To avoid these problems, it's essential to choose an ERP system that's designed for scalability. Look for a system that can handle an increase in users and data without sacrificing speed or reliability. With a scalable ERP system in place, like NetSuite, you can worry less about technical issues and focus on growing your customer base and business.
Your customer data must be protected from unauthorized access or theft
In the modern business world, data security is more important than ever. With the rise of cybercrime, it's essential to make sure that your customer data is protected from unauthorized access and theft. When selecting an ERP system, look for a platform that offers robust security features, such as user authentication, data encryption, and activity logging. If your SaaS company stores customer data in an insecure ERP system, you could be putting your business at risk. Hackers and cybercriminals are always looking for new ways to gain access to sensitive information, and an insecure ERP system is a prime target. To protect your business, choose an ERP system that puts security first.
Your ERP system should be able to adapt to changes in your SaaS business processes
Though your business processes might be carved in stone today, it's likely they'll change as your business grows and evolves. That's why it's important to choose an ERP system that is flexible and can adapt to changes in your process. A good ERP system should be able to easily implement new modules as your needs change. It should also allow you to customize existing modules to fit your precise business requirements. Furthermore, a flexible ERP system will make it easy for you to add additional functionality and even customizations if needed. By investing in a flexible ERP system, like NetSuite, you can ensure that your system will be able to grow with your business.
Employees should be able to use the ERP system without extensive training
A SaaS company's ERP system is a critical tool for managing data and business processes. However, if employees are not able to use the system effectively, it can lead to inefficiencies and errors. That's why it's important to ensure that the system is easy to use and requires minimal training. A user-friendly interface will help employees to quickly find the information they need, and built-in tutorials or help features can provide guidance when needed. By making sure that the system is usable, businesses can help to improve employee productivity and reduce the likelihood of errors.
The ERP should not break the bank, but still, provide all the features you need
As a SaaS company, you need to be mindful of your expenses and make sure that you're getting the most bang for your buck, especially in the early days of pre-investment. When selecting an ERP system, it's important to find a platform that is cost-effective but still provides all the features and functionality you need. To get the most value for your money, look for an ERP system that offers flexible payment terms to align with your business's income projections. This will allow you to get started with the system without breaking the bank. Once you're up and running, you can scale up your usage as needed and only pay for what you use.
Why More SaaS Companies are Choosing NetSuite
NetSuite is a cloud-based ERP system that offers all of the features and functionality SaaS companies need to be successful. With NetSuite, businesses can take advantage of a scalable, secure, and flexible platform that is also user-friendly and cost-effective.
NetSuite's SaaS Edition comes out of the box with the modules and functionality you need to get started on your SaaS companies ERP and IT journey.
General Ledger, Accounts Receivable, Accounts Payable, Revenue Recognition, Expense Management
Professional Services Automation
Project Management, Service Contract Billing, Time and Expense Tracking
Customer Relationship Management
Salesforce Automation, Customer Support and Service, Marketing Campaign Management
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.