NetSuite For Service Companies
Services industry means pace and momentum. Chaos is the synonym of being normal within the services industry: Be it Information technology or Educational counseling, Event management, Transportation, Hospitality, Travel, Media, Entertainment, Sports, Healthcare etc
If you are slow and out of sync with the market, you will be forgotten and excused within no time.
Understanding the unique and niche requirements of the services industry, NetSuite has devised a robust Cloud-based ERP solution, which solves all the problems faced by the industry, and empowers them to embrace non-stop growth and professional efficiency.
Compared to a stand-alone on-premise ERP software, NetSuite is a true cloud-based ERP platform which can be rapidly implemented leading into lowering the total cost of ownership (TCO) with the elimination of constant, expensive hardware maintenance costs and the hassles of upgrades associated with on-premise solutions.
Services companies which are dependent on stand-alone ERP face these major challenges, which are seamlessly resolved by Cloud-based NetSuite.
No Loss Of Business Due To Lack Of Real-Time Data & Analytics
NetSuite for Services Companies provides real-time data and analytics of various business operations, via customized dashboards. This translates to a better decision making process for the management and a definitive competitive edge.
For example, suppose the project manager of an IT services firm is aware of the resources which are free at any particular moment. In that case, he/she can make faster decisions on accepting a new project and providing a timeline for completion. This is not possible with stand-alone software, which is still dependent on manual entries for a lot of tasks.
Lack of real-time insights translates to lost opportunities and loss in sales, which NetSuite for Services Companies effectively resolves.
No Loss In Productivity Due To Fragmented Data
Since NetSuite is 100% powered by Cloud technology, services companies are able to get a complete picture of the operations, with centralized data and seamless access to information.
NetSuite connects the fragmented data, automates several business processes, and unifies different tools, systems, and applications which enables the management to have tight control over operations and derive maximum productivity.
For example, suppose the CEO of an E-Commerce portal is able to connect the CRM with the lead generation process. In that case, he/she will be able to understand their customers in a better way and serve them with the products which they actually need.
No Dip In Project Profitability Due To Lack Of Insights
With stand-alone software, the biggest problem is the lack of real-time statistics and data, which leads to less profitability from each project.
And NetSuite resolves this problem by providing a 360-degree view of the ongoing projects and providing all the information you need within one single umbrella.
The project managers and the management access critical information such as resource availability, how much is the estimated time left for the completion of a project, cost analysis, problems faced by the resources, client expectations, deadlines etc. in real-time with NetSuite.
Using this information, the services company can manage their projects better and increase profitability by optimizing their resources.
5 Powerful Features Of NetSuite For Services Companies
The above mentioned business challenges faced by services firms are resolved due to the powerful features which NetSuite has incorporated. Here are the 5 such features:
State Of The Art Service Budgeting & Reporting
Services firms can now have real-time insights into every project, which ensures timely reporting, and analytics. Project managers can get insights into time and expenses, resource allocation and more with highly advanced reporting features.
Advanced Project Management Tools
Project managers can now optimally manage and deploy their resources, for maximum productivity. Discovering the right talent and skill for any project becomes easier with NetSuite.
Analysis Of Revenues Based On Project
As shared earlier, services companies can now calculate revenues based on each project, which ensures maximum monetization opportunities. When accounting can be narrowed down a project, then the lifecycle can be tracked right from the point of sales order generation, which enables very key member in the funnel to optimize and maximize profits.
High-End Data Security And Audit Mechanism
For services firms, it’s very important to ensure data privacy and security, all across the organization. With NetSuite, the management gets Governance, Risk and Compliance (GRC) capabilities, which means that each and every piece of data and information is monitored, tracked, audited and secured. Role-specific access rights can be provided, to make sure only the authorized personals are able to access data.
Flexible Billing Module
With an advanced and flexible billing module, NetSuite clients in the services industry are able to convert traditional billing activity into a strategic business function. Companies can now prepare and send customized invoices, deploy subscription model and more.
If you need more information on the deployment of NetSuite for Services Companies, then Inspirria can help you right away. We are an award-winning Oracle NetSuite implementation partner, having more than 15 years of experience in Cloud computing consultancy and managed services.
Feel free to use this link to schedule a no-obligation session to discuss your specific needs from NetSuite for Services Companies, and take it forward.
