Top 10 Alarming Signs That Your Business Urgently Needs An ERP System like Oracle NetSuite ERP

Wandering what are the signs your business needs a new ERP like Oracle NetSuite ERP? For a growing business, to keep functioning efficiently, you need a management orchestrator tool that can instantly adapt to the rapid changing circumstances. Here we have collected the top 10 signs that can indicate your business is at a crossroads.
Top 10 Signs Your Business Needs Oracle NetSuite ERP

With time and expansion, a company’s business procedures will naturally become intricate.

One way to guarantee timely and effective resolution of complexity issues is to use a cloud-based system like Oracle NetSuite ERP. This system can be accessed from any computer, tablet, or smartphone. 

No matter where you are, you will always stay in the loop and in command.

All of your transactions with all of your clients, lead generation interactions, sales transactions, booked appointments and actions will be recorded and always accessible from one sole centralised location.

How To Know If Your Growing Business Needs A System Like Oracle NetSuite ERP

NetSuite is an Enterprise Resource Planning (ERP) system that helps businesses manage their finances, sales, customer relationships, marketing, human resources and inventory all in one place. 

That results in fewer bottlenecks in daily operations and much better access to management information across the business.

If your company isn’t already using an ERP system like Oracle NetSuite ERP, these are the top 10 signs that you need to upgrade immediately.

1. Your It Costs Are Increasing By Using Multiple Systems

Coordination in the workflow can become very challenging when your growing business starts to use different software to manage different business processes. Your company may have two separate systems in use for recording accounts receivables and another one for entering sales orders, for example.

Your chance of producing inaccurate or duplicate information will increase as you introduce more and more software.

Given the importance of effective cross-departmental communication, using multiple systems is a sign that you need rather one ERP for more efficient data management.

Oracle NetSuite ERP, which is hosted on the cloud, will help you streamline your operations and cut down the number of programs you need to juggle with in your business. Not to mention that you can always upgrade to the newest version without spending any extra money or waiting for your IT guys to become available.

2. You Struggle To Manage Reporting

An accurate understanding of your company’s market performance is essential. This requires quick access to your KPIs (Key Performance Indicators) like profit margins, cash-flow, order details and sales totals.

A strong clue that you need a more advanced business system is if you spend many hours each week or month compiling KPI data from dozens of various spreadsheets and software.

Video Source

A growing business needs all of its workstreams to make timely decisions daily. By using harmonised dashboards from a single source of truth that are accessible to all members of all departments will definitely boost communication and cooperation across your company’s teams.

NetSuite ERP incorporates the capability of real-time, integrated data and on-demand reporting to comply with such requirements. Whether you are at your desk or in another location, NetSuite makes it easy to read your most up-to-date data at any time.

Although smaller systems like QuickBooks may be expanded with third-party add-ons and reporting tools, ERP systems like Oracle NetSuite ERP can already offer robust and cutting-edge business insights.

3. Your Business Has Low Operational Efficiency

Have you ever taken the time to, at least, estimate how much work hours you and your team spend on manual administrative activities like data entry, cross-checks, re-entering inaccurate data and transferring data across systems?

Or maybe you use a lot of paper sales orders, invoices, and various spreadsheets to run the business.

All of that is a breeze for Oracle NetSuite ERP which simplifies and automates many routine activities that would otherwise take employees hours to do manually.

Stat Source: Adynamics

With NetSuite, a growing business can streamline all of its processes and save time and money. Time saved might be used better, which leads your company to greater productivity and smoother business operations.

4. Your Current Software Doesn’t Support Industry-Based Requirements

Because of your company’s rapid expansion, its organisational structure is becoming increasingly complex – so are the business procedures in areas like manufacturing, Supply Chain Management and inventory control.

On the top of that, industries like pharmaceuticals, construction, transportation and energy can have their own unique sets of accounting rules that must be adhered to by their respective businesses.

Oracle NetSuite ERP was developed to align to the specific needs of a wide range of industries. That also allows businesses to consolidate their operations on a single platform, eliminating the need for a plethora of separate industry specific programs.

5. You Want To Do Business With Overseas Clients

Growing businesses often manage several overseas branches in different operational currencies and in different statutory environments. In most cases, these companies solve the problem of satisfying local requirements by using separate applications for each local branch.

For such international companies, a cloud-based ERP is an ideal single platform tool rather than managing financials, resources, and customer transactions in separate local ones.

With Oracle NetSuite ERP, your growing business can be in full compliance with all applicable local statutory legislation and any other local reporting requirements. No matter in which country you run your business because NetSuite has the ability to handle data globally in a standardised way.

6. Your Sales Team Is Struggling

Maintaining an optimal inventory level at all times is a major difficulty for any rapid-growing business.

The optimal stock level formula – Image Source

However, when information about sales, stock and customers is stored in different places, such fragmentation can lead to serious issues for the whole business. 

If your business runs out of a hot product item, you may simply forget about making any more sales until more stock comes. Additionally, your company’s market reputation of quality service will significantly be damaged if customers want to check about their orders but your staff is just unable to track it, let alone don’t know if they have been dispatched yet.

In contrast, with a system like Oracle NetSuite ERP, all of your employees will always have prompt access to the most recent data, regardless of which department they work in. And as a result, your customer representatives will never have to put your customers on hold while they verify with other teams what order information, shipments, payments, service concerns status are.

Even better, every account status information should be easily available online to all of your customers via a dedicated web portal. And in the meantime, if the stock is running short, your warehouse management can place new orders.

7. You Have Serious Resource Management Issues

Keeping an eye on your assets is crucial to provide excellent customer service. Inadequate resource management has several negative outcomes for any growing businesses that don’t keep up on their resources because:

  • That will cause issues with external vendors due to poor logistics,
  • It will result inappropriate company costs, and
  • The business will also employ labour ineffectively.

I believe no need to further explain, if you want your expanding operations to go without any glitch, and to function like clockwork, good resource management is a must. Business leaders at all levels of an organisation require proper insights of available resources so they can make well established decisions on how to prioritise and allocate them among processes or projects.

Oracle NetSuite Cloud ERP is a powerful business management system that may help you better manage your company’s resources.

The system’s dashboards are flexible and adaptable, so you can tailor them to meet the needs of your team, your customers, partners, and vendors.

8. Your Business Have Non-Integrated Systems

Unharmonised, standalone systems cause a general slowdown in business performance. And they always call for a higher level of human involvement.

Companies waste valuable resources maintaining disintegrated databases and double-checking data transfers in such scenarios. For example, in addition to their accounting software, many growing organisations tend to use a tangled web of spreadsheets, to which only a limited number of employees have access.

Given that NetSuite is an all-in-one Enterprise Resource Planning solution, it can help you to improve such operational efficiency without necessitating you to reengineer the whole business. Furthermore, it offers your teams a “one source of truth” base that can be utilised to boost and standardise what your business delivers.

Because Oracle NetSuite ERP connects all functional departments in real-time, the system will excel in wiping off organisational silos.

9. You Have Persistent Issues With Production Scheduling

The majority of companies that deal with Supply Chain Management also have trouble controlling production schedules. Obviously, there is a link between production planning and the capability to deliver goods profitably and on schedule.

A mismatch in project routing and the allocation of machine time can result in a significant loss of revenue. This is particularly true if you consider the increasing costs of both employees and machinery.

In order to provide timely and accurate production plans, an ERP like NetSuite’s core features can be used to achieve accurate forecasts based on current supply and demand information.

10. You Are Generally Losing Control

Simply there is just too much to deal with: Too much paperwork, too many responsibilities, too many ideas, but so little time.

With Oracle NetSuite ERP, you can regain command of your business, cut down on tedious tasks and get access to previously unavailable management information.

Business leaders often forget, computers were created to facilitate their ability to process information

But they must employ them correctly to realise their full potential.

Wrapping It Up

If you’re experiencing some of these issues in your organisation and are thinking about implementing an ERP system, your next step is to figure out which ERP system is best for your business.

Using an integrated ERP solution like Oracle NetSuite ERP, as opposed to a collection of disparate programs, you can increase both transparency and productivity in your growing business. NetSuite’s cloud data centres will keep your application interactions and transaction volumes safe and reliable.

Oracle NetSuite ERP may provide the competitive edge your growing business needs to sustain expansion, increase agility, and support data-driven decisions.

Sandor Nagy

Sandor Nagy

Sandor is a seasoned ERP Business Analyst with a wealth of experience in providing comprehensive business analysis services for global companies. With a career spanning since 2016, Sandor has developed a deep understanding of the intricacies of ERP systems. As a trusted advisor, he specialises in leveraging ERP and RPA technologies to optimise business processes, streamline operations, and drive sustainable success. Through insightful analysis and innovative solutions, Sandor helps businesses harness the full potential of their ERP systems to achieve their operational objectives. With a commitment to staying at the forefront of industry trends, Sandor is dedicated to empowering growing businesses with the knowledge and tools they need to thrive in the ever-evolving ERP landscape.

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