Excel, Accounting Software or ERP? Why You Need to Consider NetSuite for Your Business Growth
Introduction:
When it comes to managing your business, there’s a range of options available, such as spreadsheet, accounting software, or ERP, each with its own advantages and limitations. Most business starts with an Excel or its equivalent and I’ve often being asked what is the difference between these by business owners. And a lot of time, business owners get confused with the technical jargons.
To make the comparison easier, let’s use a simple day to day items as an analogy. We can think of Excel is like a bicycle, accounting software like a motorcycle, and NetSuite like a car.
Excel is a simple and affordable tool that can handle basic tasks with ease, much like a bicycle. With Excel, you can create spreadsheets, do basic calculations, and even create charts and graphs. However, like a bicycle, Excel has its limitations. It’s not designed to handle large amounts of data or complex tasks, and it may not be the best choice for businesses that want real-time data access and collaboration.
Think of it like trying to transport boxes of items from point A to B. While it can get the job done, you can only do it one at a time, taking multiple journey to complete the entire job. If you want to have it done in a short time frame, you will need to add more riders and more bicycles. There are also no consistency as you rely on the physical strength of the riders as well as how good they are in riding a bicycle. And when it rains, you are practically put to a halt.
Accounting software (motorcycle):
Taking the same example, it is now less taxing transporting the boxes. You get from point A to B faster, the time is more consistent and you can transport the same items with less rider, as they don’t get tired and they get to the destination and back faster. You are however still limited by the amount of storage it can hold at a time, and also the weather condition.
Netsuite (car):
NetSuite is a comprehensive solution designed for small, mid-sized to large businesses, much like a car is designed to handle more complex and demanding tasks. With NetSuite, you get real-time data access and collaboration, making it easier to manage your business finances and stay on top of changes. However, like a car, NetSuite has its upkeep. It’s more expensive than Excel or accounting software, and it requires a certain level of technical expertise to use effectively much like you need a driving license and know how to drive a car.
With a car, getting from point A to B is a breeze. You can load more boxes in a single trip, secure the goods, and can move regardless of the weather conditions. As you expand your business, you do not need to keep adding more cars, as the cars has more capacity to carry your personnel’s.
You can also add in new features into the car, such as navigations systems, storage, decal for advertising and so on to further enhance your operation, much like how you can customized Netsuite to provide mission critical functionalities to your business.
Why consider NetSuite:
Even though Excel or accounting software may be sufficient for a business’s current needs, NetSuite is a better option for businesses that want a solution that can grow with them. With real-time data access and collaboration, NetSuite can improve the efficiency and effectiveness of a business. By investing in NetSuite, a business can save time and money in the long run.
Conclusion:
In conclusion, Excel is like a bicycle, providing a simple and affordable tool for basic tasks. Accounting software is like a motorcycle, providing a step up in power and speed with more advanced features for financial tasks. NetSuite is like a car, a comprehensive solution designed for mid-sized to large businesses with real-time data access and collaboration. While Excel or accounting software may be sufficient for a business’s current needs, NetSuite is a better option for businesses that want a solution that can grow with them and provide real-time data access and collaboration. By investing in NetSuite, a business is positioning itself for the future.
Disclaimer:
The views and opinions expressed in this article are solely those of the author and do not reflect the official position of any organization.
About the author::
Meet Kuan Boon Lim (林观文）, the Netsuite Proselytizer wanabee! who is dedicated to spreading the good word about seamless business management and NetSuite to all who will listen. With years of experience in ERP pre-sales, implementation, he is fully equipped to help businesses of all sizes take their operations to the next level.
