7 Ways an SME can Benefit from Cloud ERP with Oracle Netsuite
Introduction
As a business owner, you first priority is to focus on growing your business, not on managing your IT infrastructure. However, as your business grows, so does the complexity of your operations. This is where a cloud-based Enterprise Resource Planning (ERP) solution, such as Oracle Netsuite, can help you streamline your business processes, reduce costs, and improve decision-making.
In this post, we’ll explore 7 ways SMEs can benefit from cloud ERP, and how Oracle Netsuite can help achieve these benefits.
Benefits of Cloud ERP for SMEs
1. Streamlined business processes
A cloud ERP solution automates repetitive and manual processes, such as order management and invoicing, so that you can focus on the core activities that drive your business. While many business tries to create unique processes that drive competitive advantage, there are many operations such as Financial that should be streamlined and follow the industry best practices.
Oracle Netsuite has a suite of tools that enables you to automate key business processes, such as financial management, inventory management, and order management, and can integrate with other software solutions to streamline your entire business. With its leading practice, it allows for businesses to adopt best practices across the globe, eliminating the needs for complicated onboarding of new resources and thus ensuring business continuity.
2. Real-time access to data
Information is the real currency that is driving business decisions. This is crucial for any organization especially SME, as SME needs to focus its limited resources on activities that has the highest return on investments. In order to do that, it needs to have the immediate access to the latest information on how the business is performing.
Oracle Netsuite provides real-time access to financial data, inventory data, and other critical data points so you can make informed decisions based on the most up-to-date information. You can access Netsuite from any device with an internet connection, so you can work from anywhere. This enables you to respond quickly to changes in the market or customer demands.
3. Improved order processing and tracking
Customers satisfactions is often crucial for SME to compete in the market. The ability to commit orders, procure or produce at the least cost and ship on time is the cornerstone of good customer service. Having the ability to look into the order status, billing and payment status ensure that business are taking the necessary steps to manage their risks while ensuring that customers are served at optimum levels.
A cloud ERP solution like Oracle Netsuite allows you to manage your orders more efficiently by automating the order-to-cash process, and by giving you real-time visibility into your inventory levels, order status, and shipping details. This enables you to provide better customer service by keeping your customers informed about their orders.
4. Reduced IT infrastructure costs
The last thing an SME wants is to staff their organization with a huge number of IT personals to manage its digital infrastructure. While it is a good to have, it means lesser investment dollars on its core business activities. Opting for on-premises solutions like accounting software, or ERP requires business to manage all aspect of the infrastructure such as hardware, software, connectivity infrastructure and so on on their own.
With Oracle Netsuite, you don’t need to invest in expensive hardware, software, or IT personnel to manage your IT infrastructure. You simply pay a monthly subscription fee based on the level of functionality and number of users required. This reduces your upfront investment and enables you to focus on your core business activities.
5. Data security and confidentiality
Apart from the hardware, software and connectivity, business also has to ensure that its data is secure from possible security breach. Most SME do not have the resources to deploy and continuously update it system security measure. Even if they do, it will means further reducing available dollar for core business activities.
Oracle Netsuite uses industry-standard security measures to protect your business data from unauthorized access. Your data is encrypted and stored in secure data centers with redundant backups, and multi-factor authentication is required for users to access the system. This provides you with peace of mind that your business data is safe and secure.
6. Flexibility to accommodate business growth
SME is often characterized by high growth and therefore it is important for business to ensure that its ERP can continue to support them. Many SME starts with simple accounting software, only find themself having to start a new system implementation when their business outgrow their accounting system. Business should also be choose a solution that can continue to support them when they operates beyond their home country.
As your business grows, you need a solution that can grow with you. Oracle Netsuite is highly scalable and can be customized to meet the changing needs of your business. You can add new users, functionality, and integrations as your business expands. This ensures that your ERP solution remains a valuable asset for your business over the long term.
7. Lower upfront investment
ERP investment can no doubt be one of the highest ticket items in SME investments. It is also one of the most crucial investment that an SME must make. However, it does not need to break the bank.
As a cloud-based solution, Oracle Netsuite has lower upfront costs than traditional on-premise solutions. You don’t need to invest in hardware, software, or IT personnel, which means you can start using the system immediately. This is particularly beneficial for SMEs that need to be agile and responsive to changes in the market.
Conclusion
In conclusion, Oracle Netsuite provides SMEs with a cloud ERP solution that streamlines business processes, provides real-time access to data, improves order processing and tracking, reduces IT infrastructure costs, ensures data security and confidentiality, accommodates business growth, and lowers upfront investment. If you’re looking for a cloud ERP solution that’s easy to use and customizable to your business needs, Oracle Netsuite is a great choice.
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.
He is currently the GM of Pre-sales for BlackOak Consulting Sdn Bhd.
