Category Archives: NetSuite

An Early Cloud ERP Adopter, GHA Technologies Grows Its VAR Business 5x

websitelogo An Early Cloud ERP Adopter, GHA Technologies Grows Its VAR Business 5x

Posted by Jack Bryant, Services Industry Marketing Manager

Value-added resellers deliver computing equipment, software and services that help organizations improve efficiency and visibility across their operations. VARs need those same capabilities themselves to thrive in a fast-paced and fiercely competitive industry that puts a premium on customer service.

GHA Technologies knows that first-hand. From its founding as a one-person shop in 1990, GHA has grown into a $ 141 million business reselling millions of products from 2,500 technology vendors such as Dell, HP, IBM, Cisco and Apple. Listed on the 2016 Inc. 5000 of America’s fastest-growing private companies, GHA has distinguished itself with a long history of superior customer service.

GHA Technologies is also distinguished by its early embrace of cloud ERP. In 2003, the Scottsdale, Ariz.-based GHA was among the pioneering companies to abandon on-premise software and servers in favor of NetSuite’s cloud offering to run back-office operations.

George Hertzberg, GHA Technologies founder and president, credits the move to NetSuite as a key enabler of the 175-person company’s phenomenal success. GHA has increased revenue five-fold over its 13 years on NetSuite while expanding the customer base to more than 30,000.

“There’s no way we could have grown as much as we have without NetSuite,” said Hertzberg, who is featured in the NetSuite customer video below. “NetSuite’s scalability to handle growth, its speed and stability and on-demand reporting have been very valuable in enabling us to manage and grow the business.”

Before NetSuite, GHA struggled with a Sage Peachtree system that crashed frequently because of file size limitations. Required daily backups were time-consuming and unproductive, and reporting was slow and painful. GHA made the leap to the NetSuite cloud after examining on-premise Sage MAS 90 and Microsoft Dynamics GP applications.

GHA found in NetSuite an agile, unified platform that improved business performance across the board, from sales and order management to post-fulfillment support. Robust analytics, real-time data access and automated workflows that GHA enjoys with NetSuite are key ingredients in seamless customer-centric processes that drive repeat business and profitability.

“It’s all about exceptional service,” Hertzberg said. “That’s where NetSuite comes in for us. Everything has to flow as smooth as silk and NetSuite is at the core of that.”

Flexibility in the SuiteCloud development platform is another value-add for GHA Technologies. Using the NetSuite open API, NetSuite solution provider partner Explore Consulting was able to easily build a direct API connection with CNET ChannelOnline, a supplier network that provides GHA with access to accurate pricing and product data for its largest distributors.

Through that automation, GHA has shortened its sales cycles and saves as much as two hours per transaction per sales representative on the 1,500 transactions that GHA reps process monthly. With the time-savings gained through automation, reps can focus on more value-added tasks that deepen customer relationships.

With NetSuite, Hertzberg is confident that GHA has a flexible, future-proof platform ideally suited to support continued rapid growth and innovation.

“Technology professionals tell us, ‘You don’t know how many times you’ve saved us,’” Hertzberg said. “We’ve become a behind-the-scenes type of partner for them. That’s very similar to our relationship with NetSuite — they’re a behind-the-scenes partner for GHA Technologies.”

Posted on Wed, March 22, 2017
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Oracle NetSuite Global Business Unit's channel program continues leadership attracting new partners seeking to drive growth with cloud ERP

og image Oracle NetSuite Global Business Unit's channel program continues leadership attracting new partners seeking to drive growth with cloud ERP

WithumSmith+Brown, Kranz & Associates, AdaptaLogix and Phoenix Systems Group Join NetSuite Solution Provider Program

SAN MATEO, Calif.—March 20, 2017—Oracle NetSuite Global Business Unit (GBU), the industry’s leading provider of cloud financials / ERP and omnichannel commerce software suites and a wholly-owned subsidiary of Oracle, today announced the addition of new partners to the NetSuite Solution Provider Program. WithumSmith+Brown, Kranz & Associates, AdaptaLogix and Phoenix Systems Group have joined the NetSuite Solution Provider Program to capitalize on the fast-growing demand for cloud ERP software. The industry leading partner program enables each solution provider to build a high margin, recurring revenue-based cloud practice and helps them provide clients with the superior business visibility, efficiency, scalability and agility possible with NetSuite. The flexibility of NetSuite’s platform allows partners to uniquely build intellectual property that differentiates their offerings to better meet the needs of its clients.

Launched in 2002, the NetSuite Solution Provider Program is the industry’s leading cloud channel partner program. Since its inception, NetSuite has been a leader in partner success, breaking new ground in building and executing on the leading model to make the channel successful with NetSuite. A top choice for partners who are building new cloud ERP practices or for those expanding their existing practice to meet the demand for cloud ERP, NetSuite has enabled partners to transform their business model to fully capitalize on the revenue growth opportunity of the cloud. The NetSuite Solution Provider Program delivers unprecedented benefits that include highly attractive margins and range from business planning, sales, marketing and professional services enablement, to training and education. For more information about the NetSuite Solution Provider Program, please visit www.netsuite.com/portal/partners/solution-program.shtml.

Joining the NetSuite Solution Provider Program gives each organization an advantage in serving clients who want to eliminate the inflexibility, on-going maintenance and high costs of in-house on-premise systems by turning to the cloud.

All of the new partners are building cloud ERP practices with NetSuite on the basis of strong client demand for unified, flexible cloud ERP solutions.

WithumSmith+Brown Expands Management Consulting Practice with #1 Cloud ERP

WithumSmith+Brown, PC (www.withum.com), founded in 1974, ranks in the top 30 largest public accounting and consulting firms in the country, with 14 offices and more than 800 employees. To meet the changing business needs of its customers, Withum recently expanded its management consulting practice and selected NetSuite as the ideal technology partner to serve businesses in a variety of industries including wholesale/distribution, manufacturing, nonprofit, financial services, and professional services. Withum serves clients from startup to large organizations, and NetSuite’s rapid deployment and scalability make it an obvious fit. Withum’s clients have long asked about cloud ERP solutions and NetSuite in particular, so the transition is an easy one. As trusted technology advisors, Withum will offer a broad-spectrum of cloud technology consulting and services, from readiness auditing to NetSuite implementation and optimization. Withum will also leverage NetSuite’s flexible and agile SuiteCloud platform to provide customers with industry-specific customizations and software integrations.

“At Withum, we believe our clients need more than the traditional tax and accounting services offered by most firms today,” said Jim Bourke, Partner Technology Practice Leader at Withum. “As trusted advisors to our clients, our NetSuite cloud ERP practice is a critical piece of our services offering.”

Kranz & Associates Powers Tomorrow’s Startup Successes with NetSuite

Kranz & Associates (www.kranzassoc.com) specializes in providing financial and administrative consulting services to early-stage venture-backed companies. As the firm’s clients grow and mature, they routinely run up against the limitations of early-stage accounting systems. Moving to NetSuite is the next logical step. Kranz often serves as an accountant, accounting manager, or CFO for growth-mode companies, so the conversations about transitioning to NetSuite are born of mutual interest.

“Startup founders love having access to data on a mobile-friendly, cloud-based platform,” said Bud Austin, President of Kranz & Associates. “NetSuite gives them the ability to manage expenses, revenue, and processes much better than a small business system would.”

Kranz experienced quick success with NetSuite, with several clients having already transitioned to NetSuite. By working closely with joint clients at every stage of growth, Kranz and the flexibility afforded by NetSuite are combining to make it easier for venture-backed firms to successfully drive growth. “We are in tune with the needs and responsibilities of our clients, and the natural way to grow with them was through this partnership with NetSuite,” Austin said.

AdaptaLogix Prescribes NetSuite ERP to High-Growth Pharma Companies

AdaptaLogix (www.adaptalogix.com) is an ERP consulting company with a very specific focus–small biotech and pharmaceutical companies. Small, growth-stage biotech and pharma companies have very particular requirements unique to the industry. They are not yet generating revenue, yet add staff and complexity over time. They must be prepared for extremely rapid expansion if a new drug or treatment clears clinical trials and reaches the market. And they often have financial reporting and regulatory requirements in multiple nations, because of the international nature of the industry. After evaluating other cloud ERP providers, AdaptaLogix selected to partner with NetSuite to develop and implement solutions for these specialty firms with tremendous upside.

“NetSuite gives our clients sophisticated financial infrastructure at an affordable price and on a quick timeline, without having to add more staff to manage software,” said James Neal, AdaptaLogix Partner.

A growth-oriented pharmaceutical company with a new drug in trials can grow from just 30 employees to 500 in just a two or three year span, with a fully global sales and marketing organization and intricate relationships with contract manufacturers and distributors. Public offerings often follow not far behind.

“There are a lot of very specific needs in the pharma world, and NetSuite is very well suited to be tailored to that industry,” Neal said. “NetSuite makes it possible for us to deliver a faster implementation and better solution with less risk and reduced costs.”

Phoenix Systems Group Revitalizes Ecommerce Solutions with NetSuite

Phoenix Systems Group (PSG) (www.phoenixsystemsgroup.com), which has developed ERP systems for catalog and ecommerce merchants for 22 years, joined the NetSuite Solution Provider Program to transition its legacy code base and existing customers to the NetSuite cloud. After considering several ERP solutions as a new platform, PSG quickly recognized that NetSuite offers the right combination of technology, capabilities, and flexibility for modern ecommerce operations. PSG’s custom capabilities, which optimize package dimensions and shipping rates, will be adapted to the SuiteCloud platform, ensuring that clients continue to receive all the benefits of the previous solution while enjoying the enhancements of a fully modern ERP solution.

“We live in a unified commerce world today, and NetSuite’s comprehensive solution greatly reduces complexity for ecommerce vendors,” said Jeff White, PSG president and CEO. “Because NetSuite is already a single unified system, it eliminates most of the cost and complexity associated with ecommerce, while still giving us tremendous opportunities to customize and configure for every client.”

Learn about NetSuite’s customer and partner success at SuiteWorld17. SuiteWorld17 is the industry’s leading Cloud ERP conference, being held at the Sands Expo & Convention Center in Las Vegas, Nev. on April 24-27. For more information and to register, please visit www.netsuitesuiteworld.com.

About Oracle NetSuite Global Business Unit
Oracle NetSuite Global Business Unit, a wholly-owned subsidiary of Oracle, pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the Internet. Today, Oracle NetSuite Global Business Unit provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit www.netsuite.com.

Follow Oracle NetSuite Global Business Unit’s Cloud blog, Facebook page and @NetSuite Twitter handle for real-time updates.

About Oracle
Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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The Best Professional Services Firms Leverage Integrated Technology, Collaborative Cultures

websitelogo The Best Professional Services Firms Leverage Integrated Technology, Collaborative Cultures

Posted by Terry Melnik, PSA Product Marketing Director, Oracle NetSuite Global Business Unit

Many professional services organizations track key metrics such as net profit, billable utilization and more. The question is how those metrics stack up against peers and competitors in the industry at large.

The annual Professional Services Maturity Benchmark report provides some answers. Now in its 10th year, this definitive study by SPI Research, the leading independent technology services research firm, sheds light on a dynamic and growing industry facing changes and challenges.

For example, growth in both revenue and headcount dipped to new seven-year lows in 2016, according to SPI’s study, based on a survey of 416 PS firms employing more than 200,000 consultants. Employee attrition reached a 10-year high, while profitability dipped 8.4 percent.

On the other hand, 2016 saw improvements in other leading indicators. Revenue per consultant, project backlog, size of the sales pipeline and on-time delivery all moved in a positive direction.

“In the face of turbulence, the overall fundamentals of the professional services industry remain very strong with PSOs making tremendous strides in improving productivity,” SPI wrote in its report.

What’s particularly striking is the differential between the bulk of PSOs and the top 5 percent that make up SPI’s “best of the best” list of the 21 top performing services organizations. The chart below illustrates several key differences.

Metric

Best of the Best

All Others

Advantage

Net profit (EBITDA)

19.2%

13.6%

41%

YoY revenue growth

20.4%

8.4%

143%

YoY headcount growth

16.9%

5.9%

186%

Ave. revenue per project (K)

$ 255

$ 157

62%

Ave. revenue per employee (K)

$ 206

$ 160

29%

On-time delivery

89.3%

77.4%

15%

Jeanne Urich, SPI Research Managing Director, said that one characteristic distinguishing top performers is an emphasis on building collaborative, employee-centric cultures. Another is the use of professional services automation (PSA) software, often integrated with ERP and CRM applications.

“Top performing firms are more likely to have implemented a commercial [PSA] business application and much more likely to have integrated it with the core financial application,” the SPI study notes. “Likewise, top performing organizations are much more likely to have integrated their CRM and PSA applications to provide real-time visibility and collaboration between sales and service delivery.”

As in past years, a significant number of SPI’s “best-of-the-best” winners in the 2017 report rely on NetSuite to power operations. They’re among the more than 1,500 services organizations to use NetSuite Services Resource Planning (SRP), OpenAir PSA, ERP and/or CRM for more efficient and transparent services execution.

We extend our congratulations to these NetSuite customers named as 2017 “best-of-the-best” winners:

Aspect Software, a provider of contact center, self-service and workforce solutions.

Box, the leading enterprise content management and collaboration platform provider.

Centrify, a provider of identity management solutions across hybrid, cloud, mobile and on-premise environments.

Pariveda Solutions, a leading management consulting firm focused on performance improvement.

Integration among PSA, ERP and CRM delivers a distinct advantage, SPI Research finds. In 2016, integrated PSA and ERP was in place at 84 percent of the “best-of-the-best” organizations, compared to 52 percent of all others, the SPI study found. Nearly two-thirds (64 percent) of top firms had integrated CRM and PSA, compared to 38 percent at others.

For an industry that lives and breathes numbers, SPI’s quantified metrics make clear that bottom-line competitive advantages await those PSOs that make integrated cloud technology a centerpiece of their business strategy.

Watch the Webinar: Success Tips: 2017 SPI PS Benchmark Survey Results featuring Jeanne Urich, SPI Research Managing Director and Kenneth Ewell, SVP of Professional Services at Aspect.

Additional Reading:

Posted on Thu, March 16, 2017
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Theo and Philo sweetens business operations with NetSuite cloud ERP

og image Theo and Philo sweetens business operations with NetSuite cloud ERP

Social Enterprise Expands Internationally and Aids Filipino Nonprofit with NetSuite

SAN MATEO, Calif. and MAKATI CITY, Philippines—March 16, 2017—Oracle NetSuite Global Business Unit, one of the industry’s leading providers of cloud financials / ERP and omnichannel commerce software suites and a wholly-owned subsidiary of Oracle, today announced that Theo & Philo, a bean-to-bar maker of single-origin Philippine artisanal chocolate, replaced QuickBooks and numerous Excel spreadsheets with NetSuite to gain scalability and flexibility to power its growth.

Since going live on NetSuite in November 2015, Theo & Philo has been using NetSuite for accounting, inventory management, order management, invoicing and purchasing—all within one cloud ERP system. With NetSuite, Theo & Philo is able to better plan and manage sourcing, production and distribution and increase efficiency while saving both time and money compared to the error-prone manual work required by their previous software and paper-based processes.

Founded in 2010, Theo & Philo (www.theoandphilo.com) grew steadily offering more than a dozen varieties of premium, locally-sourced chocolate products. As production volume soared 700 percent to about 14,000 bars a month, the organization faced challenges keeping pace with its previous system and inventory management was handled manually and tracked on paper.

“NetSuite is an integral part of our day-to-day operations and a scalable platform for our continued growth,” Theo and Philo Founder Philo Chua said. “We’re a lot more efficient and, as we grow, the automated process flows and checks and balances that we need are already in place within NetSuite.”

Through its continued global growth and success, Theo & Philo, a social enterprise and grantee of the NetSuite Citizenship software donation program, has been able to help improve social welfare in the Philippines in partnership with Gawad Kalinga, a nonprofit organization committed to ending poverty for 5 million Filipino families by 2024.

The features and benefits that Theo & Philo has been able to achieve with NetSuite include:

International growth. Theo & Philo has expanded sales to foreign distributors in recent months, using NetSuite’s multi-currency capabilities for transactions in the Euro for Germany and the U.S. dollar for Japan.

Real-time access. Compared to the limitations of its previous QuickBooks desktop application, Theo & Philo now enjoys anywhere, anytime cloud-based capable access to NetSuite with no need for on-premise software and servers.

Streamlined inventory and distribution. Real-time data has helped Theo & Philo control inventory and accelerate production and distribution with visibility that helps spotlight issues and areas for improvement.

Flexible customizations. Leveraging the NetSuite SuiteCloud Platform, Theo & Philo can adapt NetSuite to unique business needs, for instance, a customization by Tech for Good, a PGE Solutions sister company, enables the company to seamlessly manage consignment inventory and associated sales orders.

Future-proofed for growth. As a unified suite, NetSuite offers Theo & Philo functionality for CRM, ecommerce, product assembly, lot tracking and more as the social enterprise continues to grow.

About Oracle NetSuite Global Business Unit
Oracle NetSuite Global Business Unit, a wholly-owned subsidiary of Oracle, pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the Internet. Today, Oracle NetSuite Global Business Unit provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit www.netsuite.com.

Follow Oracle NetSuite Global Business Unit’s Cloud blog, Facebook page and @NetSuite Twitter handle for real-time updates.

About Oracle
Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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Theo and Philo sweetens business operations with NetSuite cloud ERP

og image Theo and Philo sweetens business operations with NetSuite cloud ERP

Social Enterprise Expands Internationally and Aids Filipino Nonprofit with NetSuite

SAN MATEO, Calif. and MAKATI CITY, Philippines—March 16, 2017—Oracle NetSuite Global Business Unit, one of the industry’s leading providers of cloud financials / ERP and omnichannel commerce software suites and a wholly-owned subsidiary of Oracle, today announced that Theo & Philo, a bean-to-bar maker of single-origin Philippine artisanal chocolate, replaced QuickBooks and numerous Excel spreadsheets with NetSuite to gain scalability and flexibility to power its growth.

Since going live on NetSuite in November 2015, Theo & Philo has been using NetSuite for accounting, inventory management, order management, invoicing and purchasing—all within one cloud ERP system. With NetSuite, Theo & Philo is able to better plan and manage sourcing, production and distribution and increase efficiency while saving both time and money compared to the error-prone manual work required by their previous software and paper-based processes.

Founded in 2010, Theo & Philo (www.theoandphilo.com) grew steadily offering more than a dozen varieties of premium, locally-sourced chocolate products. As production volume soared 700 percent to about 14,000 bars a month, the organization faced challenges keeping pace with its previous system and inventory management was handled manually and tracked on paper.

“NetSuite is an integral part of our day-to-day operations and a scalable platform for our continued growth,” Theo and Philo Founder Philo Chua said. “We’re a lot more efficient and, as we grow, the automated process flows and checks and balances that we need are already in place within NetSuite.”

Through its continued global growth and success, Theo & Philo, a social enterprise and grantee of the NetSuite Citizenship software donation program, has been able to help improve social welfare in the Philippines in partnership with Gawad Kalinga, a nonprofit organization committed to ending poverty for 5 million Filipino families by 2024.

The features and benefits that Theo & Philo has been able to achieve with NetSuite include:

International growth. Theo & Philo has expanded sales to foreign distributors in recent months, using NetSuite’s multi-currency capabilities for transactions in the Euro for Germany and the U.S. dollar for Japan.

Real-time access. Compared to the limitations of its previous QuickBooks desktop application, Theo & Philo now enjoys anywhere, anytime cloud-based capable access to NetSuite with no need for on-premise software and servers.

Streamlined inventory and distribution. Real-time data has helped Theo & Philo control inventory and accelerate production and distribution with visibility that helps spotlight issues and areas for improvement.

Flexible customizations. Leveraging the NetSuite SuiteCloud Platform, Theo & Philo can adapt NetSuite to unique business needs, for instance, a customization by Tech for Good, a PGE Solutions sister company, enables the company to seamlessly manage consignment inventory and associated sales orders.

Future-proofed for growth. As a unified suite, NetSuite offers Theo & Philo functionality for CRM, ecommerce, product assembly, lot tracking and more as the social enterprise continues to grow.

About Oracle NetSuite Global Business Unit
Oracle NetSuite Global Business Unit, a wholly-owned subsidiary of Oracle, pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the Internet. Today, Oracle NetSuite Global Business Unit provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit www.netsuite.com.

Follow Oracle NetSuite Global Business Unit’s Cloud blog, Facebook page and @NetSuite Twitter handle for real-time updates.

About Oracle
Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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Small Business Can Act Big with Supply Chain Automation in the Cloud

websitelogo Small Business Can Act Big with Supply Chain Automation in the Cloud

Posted by Natalie Forsyth, Senior Director Marketing, APAC

Each year, IT research consultancy firm Gartner ranks the top 25 supply chains in the APAC region, identifying the companies that have leveraged their supply chains to lead their industries and continue to drive momentum against competitors.

Earning a spot among the automobile and tech giants in the top 10 for several years in a row now was Australia-based grocery chain Woolworths. Early investments in integrating and automating key supply chain processes have positioned it to leverage its supply chain to innovate the way it does business, revolutionising how it sources products and entices customers as it eyes international expansion.

Driving customer-centric innovation through technology-enabled supply chain management provides distinct advantages for businesses. But without access to the capital and large amounts of personnel that are available to large businesses like Woolworths, can smaller companies leverage their supply chains for competitive advantage?

The answer is yes – with the cloud. Cloud-based software, which frees businesses from costly hardware investments and automates time-consuming, disruptive upgrades, brings advantages that were once only accessible by huge companies. With fast, flexible supply chain software architected for the cloud, small businesses can compete against much bigger rivals.

Despite its unequivocal advantages, less than one quarter of Australian small businesses use the cloud for their key business applications, according to research by Frost & Sullivan commissioned by NetSuite. Adopting a cloud-based platform can empower smaller companies to build a winning supply chain. Here’s how.

1. Start by automating basic supply chain processes

There is huge risk in manually maintaining key supply chain processes – such as purchasing, inventory, fulfillment and finance tracking — as inconsistencies and inaccuracies can cause an entire supply chain breakdown. Larger businesses can absorb supply chain mistakes that smaller ones simply can’t. One late or missed payment can cause working capital shortages, while oversupply can cause losses, and hamstring a business from fulfilling demand for more popular products.

Moving basic systems such as inventory and point of sale to the cloud gives small businesses the framework to start automating low-level tasks, positioning them for increased accuracy and efficiency, and freeing up employees’ time to spend on more strategic priorities.

2. Gain advantages borne of integration

How can you improve supply chain speed and consistency without having to increase headcount? Connect all elements of the supply chain to one another – creating a system that is more resilient in unforeseen circumstances, and has the flexibility to adapt and respond. When a customer makes an ecommerce purchase, for example, inventory levels will automatically update, while at the same time fulfillment processes will be pushed into gear, translating into faster, more reliable delivery.

It’s tempting to integrate best-of-breed applications in an attempt to orchestrate seamless processes. But trying to cobble together a matrix of disparate applications will never lend the end-to-end visibility borne on an integrated platform.

3. Optimise processes for better service 

Some 34 percent of small businesses in Australia plan to grow by strengthening customer relationships, according to the Frost & Sullivan survey. With a single real-time view of finances, resources and performance, executives have consumable data to make insight-driven business decisions. Businesses can identify trends and opportunities to innovate on their supply chain processes, and offer customer services that weren’t available before. Companies can better target limited resources to actionable opportunities for sales, marketing and customer service.

Better customer service helps optimise the supply chain itself. By zeroing in on actual customer needs, the business can guard against overstock, streamline contracts with distributors and suppliers, and project capital spend more accurately.

4. Blaze trails into new markets

The risks of expanding into overseas markets has only one quarter of those businesses surveyed by Frost & Sullivan saying growth plans include global expansion – leaving one of the richest growth areas off the table. With cloud-driven supply chains, businesses can easily scale processes to accommodate and manage international growth. For instance, inventories and fulfillments in new markets can be quickly added, reducing the cost and risks of expansion. Cloud software easily scales to accommodate peaks in demand. And complete end-to-end visibility lends insight into what products are performing well, and what products are not, to focus sales and marketing activities and prioritize new product development.

With a cloud-based supply chain platform as their partner, small businesses can realize their ambitions, whether those goals are to sustain current market share or drive global growth. By automating non-differentiating processes and leveraging data to find efficiencies, small businesses can focus on customer-centric activities to keep pace with, and even out-innovate, much larger competitors.

For more information on how cloud-based supply chain management can benefit your business, please download our whitepaper, “The Winning Supply Chain Formula for Small Businesses.” 

Posted on Wed, March 15, 2017
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Majority of Companies Remain Unprepared for ASC 606 Rev Rec Changes

websitelogo Majority of Companies Remain Unprepared for ASC 606 Rev Rec Changes

Posted by Kelly Scott, Software Industry Marketing Lead

Last week, we kicked off Part 1 of our 4-part webinar series over “Everything You Need to Know to Prepare Your Business for the New Revenue Recognition Standard ASC 606,” with Ranga Bodla, Head of Industry Marketing at NetSuite and our guest speaker and thought leader on the topic, Mike Forman, NetSuite’s Corporate Controller.

The most surprising aspect that came out of the webinar was not the overwhelming number of attendees who attended but the results we received from our poll on how prepared businesses are for the change.

The first poll question we asked was about whether audience members were ready for 606. These were the results:

How Prepared are you for 606?

Answers

Percentages

Have not commenced preparation

60%

Established a project plan/project team

27%

Completed gap analysis

7%

Quantified impact

3%

System/process changes implemented

1%

Completed adoption process/Early adopted

1%

Clearly finance teams are just getting started and as discussed, its important to get started as soon as possible as deadlines are fast approaching.

The second question that was asked was about the transition method that firms are planning on:

What Transition Method do you Expect to Adopt?

Answers

Percentages

Full retrospective method

14%

Retrospective method with practical expedients

12%

Cumulative effect method

26%

Undecided

47%

Consistent with the fact that most firms haven’t even commenced preparation, most companies still remain undecided. The good news is that with a technology partner like NetSuite, companies can choose any of these different transition methods and be fine.

For more best practices on the transition to ASC 606, download “Preparing for the New Rev Rec Standard with NetSuite” and register for the second webinar in the series “See Through the Lens of an Auditor on the New Rev Rec Standard.

Posted on Tue, March 14, 2017
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Finding a Provider that Works With You is Critical to Cloud Success

Posted by Sam Levy, Vice President of Sales at Oracle NetSuite GBU

[Second in a series: In the previouspost, we discussed the importance of ensuring that cloud adoption supports business strategy. In this installment, we consider how critical it is to find the right cloud partner.]

When the leaders of Sourcingpartner Inc. decided it was time to trade in a largely manual warehouse management process riddled with bottlenecks for a modern, cloud-based alternative, they knew their choice of a cloud provider was critical.

As a key distributor to some of the largest office supply businesses in the world, for Sourcingpartner, operations during the back-to-school season must be flawless. NetSuite, with its SuiteSuccess rapid-deployment model taking companies from zero to cloud in 100 days, turned out to be the partner it was looking for.

wd Finding a Provider that Works With You is Critical to Cloud Success“When you’re dealing with any company, you do have to worry, ‘will they deliver what they promised?’” said Sourcingpartner CEO Steve DiPasqule. “Once you’re putting money into it, you expect the answer to be yes. SuiteSuccess delivered better than we expected.”

And it wasn’t just that NetSuite delivered the solution on time; it also made the potentially nerve-wracking experience of migrating to the cloud more manageable by sharing leading practices and a wealth of experience in wholesale distribution deployments throughout.

“There was never a day that went by where we didn’t have guidance,” DiPasqule said.

Digital Transformation Coming to Manufacturer’s, Wholesaler’s and Other Product-based Companies

There is a huge difference between a cloud provider that does little more than provide logins and developer tools, and one that works closely with companies to ease the often-harrowing process of adopting a new technology platform.

And when you’re a complex and fast-growing wholesale distributor, and you’re taking your first steps into the cloud, having the right provider is critical to avoiding potential interruptions to your business.

It also figures to become a competitive necessity. IDC predicts that half of all manufacturers will be leveraging the cloud, mobile computing and advanced analytics to facilitate innovation on the shop floor. What’s more, IDC expects 75 percent of manufacturers to undergo digital transformations by the end of 2018. That means a lot of competitors matching up with technology partners to get much smarter.

The right cloud provider can address that competitive pressure by helping a company establish the right foundation for its technology, whether that means digitizing existing business processes or enabling the business to pivot on a dime if needed.

Smoothing the Transition

The latter is exactly what Action Health, a maker of healthcare packaging products was action%20health Finding a Provider that Works With You is Critical to Cloud Successtrying to do when it turned to NetSuite. The company, which was known as Action Bag at the time, had made the difficult decision to sell its retail gift supplies business to focus on the faster-growing healthcare market. And while it was looking for a cloud platform that would help it to differentiate itself, it also wanted a partner that would help to smooth that transition.

By the time NetSuite Services had finished assisting Action Health with the deployment, and the system started churning out previously inaccessible information, it was clear that Action Health had an environment that would enable it to make more — and better — use of data than it ever had.

“NetSuite was the change agent throughout the whole process, and really set who we are today and how we operate as a company,” said Sean Cwynar, president of the company, which his grandmother founded.

Stories like these illustrate how a good provider-customer match can make business look easy, but finding the right provider is anything but. In fact, it’s one of the more difficult parts of a company’s initial foray into the cloud.

For that reason, companies looking to follow in Sourcingpartner’s and Action Health’s footsteps should ask themselves some important questions before evaluating potential provider. These can range from basic considerations such as ‘Where should I start?’ to more company-specific concerns such as ‘Where’s my demand coming from?’ and ‘How am I going to facilitate that demand?’ The point is simply to establish a strategy for entering the cloud that ties back to your specific business needs.

This is not to suggest that a company has to have everything about its cloud journey mapped out before picking a provider; in fact, the eventual provider should be relied upon to help flesh out that strategy.

Stairway to Heaven – How is your Business Partner helping you Evolve?

This is precisely the approach NetSuite takes. Rather than see ourselves as a mere vendor, we prefer to have customers think of us as more of an advisor. We have established what we call a “stairway to heaven” for every industry we serve. Think of it as a thought process, or a strategy, for how to execute.

In many ways, it’s also an exercise in aligning the partner with its customers’ goals. Customers come away from the process with a grasp of how our technology works with their processes, the knowledge that we understand their specific business and industry, and confidence that they’ve chosen the right cloud provider.

Eventually, the goal is for the cloud provider and customer to form a lasting partnership that’s built on a common goal: Ensuring the customer’s success.

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Industry Thought Leaders Predict Big Changes for the Supply Chain by 2020

Posted by Marissa Kinsley, Manufacturing and Distribution Industry Marketing Lead

Two days, three keynotes and 2,800 attendees — the recent Modern Supply Chain Industry%20Leaders%20Predict Industry Thought Leaders Predict Big Changes for the Supply Chain by 2020Experience conference held in San Jose, Calif., had one primary purpose: to bring together the strongest minds in supply chain to uncover and address the top challenges facing today’s supply chain leaders. From the Internet of Things and predictive analytics to big data, new technologies are touching every part of the business – particularly the supply chain.

But what are the implications for businesses? What exactly is changing in supply chain? Here’s what thought leaders in the industry predicted at the conference:

  • By 2020, over 50 percent of manufacturing supply chain models will benefit from investment in new technologies and 50 percent of manufacturers will be using cognitive computing and artificial intelligence as well as advanced analytics for planning and long term forecasting.
  • Ecommerce will be imperative for business expansion and will help to drive growth in the supply chain. Roughly 90 percent of product businesses will be using B2B and B2C ecommerce in the next 10 years, and 50 percent of manufacturing supply chains will reach the end consumers directly for increased profitability.
  • Businesses will need to prioritize improving business processes and streamlining the supply chain to most effectively reduce costs and improve efficiencies, drive growth, and improve the customer experience for long-term business success. The supply chain is the lifeblood of the business, and those that choose to innovate and invest their time into it will have the opportunity to not only succeed, but rather thrive in our increasingly connected business world.
  • Moving to the cloud will be the natural choice for any business managing or preparing to manage a modern, digital supply chain. The cost advantages of a cloud solution – from decreased investment in software development to lower maintenance costs – are only part of the equation driving businesses to the cloud.
  • Businesses leveraging innovative process changes, tech transformations and cloud applications – or some combination of these – will be the ones to get ahead. Supply chain management will be no exception. The businesses to innovate and capitalize on new technologies will thrive, while those who do not will become obsolete.

Regardless of whether these predictions are 100 percent accurate, one thing is certain – continuing the same supply chain strategy is not the answer. Change is inevitable, especially in an age when technology is constantly advancing and businesses are innovating and iterating day after day. With this in mind, as hard as investing in your supply chain may seem, can your business really afford to stay the same?

For more on what NetSuite can do to transform the supply chain, read this story on how Epec Engineered Technologies transformed into an agile, innovative manufacturer with a remarkable five-day turnaround from product design to customer delivery.

Posted on Wed, March 8, 2017
by NetSuite filed under

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The Rise of FinTech Disruptors as Seen at LendIt 2017

websitelogo The Rise of FinTech Disruptors as Seen at LendIt 2017

Posted by Emily Houghton, Emerging Industries Marketing Lead

A mere 350 people attended the first LendIt Conference back in 2013. Four years later, the conference brings together over 5,000 attendees from more than 40 countries—a true testament to the size and scale of the FinTech Revolution. New York City played host to the latest event with thought leaders and industry experts from over 2,400 companies—both start-up and well established—to discuss the past, present and future of financial services, alternative lending and FinTech. Among those thought leaders were over two dozen keynote speakers that run their business on NetSuite, sharing their secrets to success.

Here are a few of the key takeaways from LendIt 2017:

  • FinTech Growing Up: The FinTech and alternative lending industries are undergoing significant maturation. Despite shakeout in recent years, the industry is projected to continue growing and become more sophisticated.
  • More Global Expansion: Alternative lending and FinTech in China are growing at a rate that dwarfs the US and Europe combined. The future health of alternative lending could stem from overseas.
  • Alternative Financing Growing in Popularity: Global growth is resulting from an increase in awareness for alternative financing platforms. More importantly, people are gaining trust for these platforms and are experiencing greater success in comparison to more traditional methods of financing.
  • Incumbents Should Learn from Disruptors: To stay relevant, traditional institutions such as banks MUST partner with FinTech companies or learn to evolve their business models to incorporate FinTech offerings.
  • Emphasis on Compliance: With the changing political climate and global economy, financial regulation is top of mind for every company operating in the FinTech space.

NetSuite joined LendIt 2017 to further its partnership with financial services companies and solidify its commitment to the industry. In just over a month, NetSuite will be hosting its first ever Financial Services Industry Keynote at SuiteWorld, featuring prominent members of the Lending community such as Avant and OnDeck. To learn more about how NetSuite powers the back offices of the financial services industry, please visit the NetSuite for financial services page.

Posted on Fri, March 10, 2017
by NetSuite filed under

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