As your business grows, so does your needs and requirements from your accounting software. Not only would you require deeper functionality and more integrations, but rapid business growth will teach you that handling operations and making informed decisions to mature your business demands sophisticated and integrated functionality that spreadsheets and the use of different individual applications won’t offer.
3 Problems NetSuite’s unique functionality, solves
NetSuite is an ERP accounting software designed to help your business operate more efficiently. It automates core accounting functions and processes to give you real-time insights into the financial position of your business. While the software offers sophisticated business management solutions that alleviate the admin of financial recordkeeping and aids your business to remain complaint, it also offers features and integrations to help streamline business operations. But, NetSuite is not the only accounting software on the block – there are many other software offerings that typically serve as the starting point for most businesses. NetSuite is geared toward medium to larger enterprises, as its functionality is designed to serve more varied and complex business needs. We take a look at some of the things your business can achieve within NetSuite that it wouldn’t be able to in any other accounting software platform.
Integrated business management
Because NetSuite offers a host of functions as an enterprise resource planning software, your business can manage all its operations from this single platform. Your accounting, inventory and e-commerce management as well as customer relationship management can be done within the same platform. The best part of the software is its integration ability with an endless selection of applications, which allows your business to have all its data in one place. Not only great for security, but also for data consistency.
Global business management
Do you run more than one business, or does your business operate across the globe? NetSuite’s ERP software is for you with its intercompany accounting management capabilities which allow you to document financial transactions between different legal entities that form part of the same parent company, and manage multi-entity financial records all in one place. NetSuite also offers support in multiple languages, currencies, and can consider different global tax regulatory requirements; which makes it ideal for multi-state or global business expansion.
Customization abilities to serve bespoke business needs
NetSuite offers a high degree of customization that range from creating customized workflows to designing customized financial reports. Customization is important for every business as it allows you to set things up in a way that serves your bespoke needs. The ability to summarize essential data and create reports is a fundamental feature of business software. However, these reports can vary in complexity from basic to highly advanced. NetSuite reporting provides businesses with customizable templates while allowing them to create detailed reports from scratch. They can pull data from several sources and deep dive with detailed automated reports. This is essential to businesses that need to take swift decisions making use of reliable data to propel business growth.
NetSuite is a powerful tool for ERP business operations and reporting. It can help your organization save money year-to-year through taxes and inform meaningful cost-cutting. If you are interested in getting the most out of your business reports, our experienced team of accounting professionals can help your business set up and integrate the NetSuite software.
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