What is specific to Oracle NetSuite?
Well, ERP literally means Enterprise Resource Planning, which doesn’t help much to understand what it is. In a very simple way, what it does is manage the back-office -the administrative processes- of the company, but this is not very descriptive either, so I will try to dig a little deeper and explain its benefits.
An ERP integrates processes and information throughout the organization. Helps automate processes so employees can focus on being productive rather than spending time on administrative tasks.
All information is stored and shared from a single database, so everyone works from a single source, reducing errors and allowing better understanding, based on real and accurate information.
This in turn means that the reports are more reliable and there are no differences between the information handled by the different departments.
Working in a single database throughout the organization allows streamlining processes, for example, a sales order automatically flows to the financial system without the need for any manual work, so that the order is processed more quickly and that the financial closing from the books faster.
In the case of Oracle NetSuite, the ERP system is cloud-based, which means that the software is more affordable and allows for upgrades without losing the specific customizations that have been made to the customer’s system. NetSuite has also designed the ERP to be flexible and scalable, allowing it to grow as the company grows, going from local to global business without the need to change the system, so we could say that it is guaranteed for life.
Another advantage of a NetSuite implementation is that it offers the agility to adjust your processes and adopt new workflows, product types, sales channels, warehousing, and more, without the need for large and expensive modifications.
What are the main challenges when implementing ERP?
The main challenge is the culture of the company and the definition of the business processes. The system helps to automate and optimize, but the foundation has to be there. It is important when facing the implementation of an ERP that employees are aware of and are willing to adopt it.
No system will work if users are not willing to participate, as digitization is a big change in company culture and it will be necessary to overcome concern about a new system and to adopt a new process that challenges the way they feel they should work to get your tasks and goals completed.
What are the best practices when adopting ERP systems?
- Use a methodology that has proven its success and effectiveness in other deployments, such as the Suite Success methodology, which is based on replicating industry best practices and NetSuite experience in lot of implementations over many years. This allows the software to have predefined roles and predefined performance dashboards, saving time and resources and allowing deployment in less than 100 days.
- Have a clear vision of what you want to achieve with the implementation. Your desired results.
- Plan-plan-plan. Key requirements, performance metrics should be decided well in advance of implementation to avoid wasted resources or potential implementation delays.
- Define the requirements, differentiate the requirements that should be, those that would be good to have, and those that you want to have. Prioritizing is essential, but it should not be something fixed, but flexible to be modified and aligned with the needs of the company.
- You need to get the support and participation of all staff. Management and stakeholders must be fully engaged, but also end users. The latter can identify potential problems and optimizations on existing processes, ensuring that the implementation process is a success. And, of course, having the owners of the different processes, who are trusted by the company, so that they are the ones who do the analysis and definition of requirements related to their business area. A full understanding of what is required and why, as well as why digital transformation is necessary, is critical. Of course, the requirements may vary once evaluated to adapt them to the best practices in the sector … but it is necessary to understand the “why” of each of the processes and what the result should be. The implementation process can be intense and involve many business strategy decisions that must be made by top management.
- Educate employees on culture change and allow them time to adjust to potential role and position changes and, of course, plan training before, during, and after the implementation process.
- Data is vital to every business, so planning and testing your data migration is essential to avoid negative business impacts.
- We usually recommend hiring an external business consultant to audit the processes, they will add objectivity to your requirements from many years of experience in these processes. The added cost of this is offset by adding rigorous controls to the process, saving time and cost of changes required due to lack of planning.
We can provide you with figures or examples of what can be achieved when resource planning systems are installed efficiently and effectively. I can’t speak for other software as Anchor Group has been Oracle NetSuite’s only practice for over many years. ” NetSuite has a proven track record of improvements made for those companies that have implemented.
Where is the ERP market going / some future predictions?
The ERP market will continue to grow strongly, in addition, most of the business will be in the cloud due to the benefits it has. As new generations enter the workforce, the demand for cloud ERP systems increases to meet a demand for systems that do not run-on outdated technologies.
It is probable that mobility will regulate the characteristics of the ERP for the year 2021, in fact, it is already an upward trend. Having immediate mobile access to production, or the warehouse, allows users to deal with problems in real-time, reducing the waste of resources and materials.
Managers can ensure the smooth running of the business or even keep track of their key performance indicators (KPIs) or obtain information when they are out of the company. Flexibility will continue to be a must. ERPs must be able to connect devices, departments, partners, suppliers, and customers in a single and versatile database.
Business Intelligence: each company uses the data provided by its ERP to plan its business strategies, but reports are not enough, companies want smart ways to use this information.
User experience: more intuitive and easy-to-use ERPs.
Do you need help with your digital transformation? Do you want more information about how Oracle NetSuite can improve the 360º visibility of your business and make your management more efficient?
At Anchor Group we are certified to carry out your digitization process with a unique approach. We have great NetSuite consultants and NetSuite developers at your disposal results and figures from clients who have already implemented NetSuite in similar businesses.
We have a great prestige in NetSuite marketplace. We have developed NetSuite mobile apps. We would love to have a chat with you and show you our system, not only in numbers but also through its functionality and possibilities so that you can have a real vision of its advantages. Get in touch, we will be happy to talk to you.