21 Oct, 2022

An Expert Guide to NetSuite Implementation for SMEs 

Are you planning to implement NetSuite in your business? Looking for a detailed overview of NetSuite Implementation? Well, you are on the right track.  

You have possibly learned that NetSuite is the highly used cloud software for business on the market. According to the ERP Market Statistics of Oracle NetSuite, the worldwide ERP software market increased by 9% in 2019, resulting in a global value of nearly $39 billion in whole software revenue. The ERP market continues to be in a stage of quick expansion, with the entire market size anticipated to transcend $49.5 billion by 2025. A successful NetSuite ERP deployment will lay the groundwork for your company's future processes and efficiency. Even so, the risk is an inevitable factor.  

According to the analyst firm Gartner, 55% to 75% of all ERP projects fail to meet their goals and 35% of ERP implementations go beyond the budget.    

But what causes this? What are the aspects to look upon to avoid such troubles? In this guide, we will dive deep into the major fields to consider while planning, implementing, and supporting an effective NetSuite implementation that will boost your business for a long time.   

What is NetSuite Implementation? 

The implementation refers to the procedures, physical and automated methods, and activities employed to make software available and acquirable to the end-users. ERP implementation method clearly details when, where, and how you can utilize your chosen ERP.  

There are three choices available for businesses regarding NetSuite implementation.  

1. Self-Implementation 

It is not an impossible factor; however, it is also not recommended until you have prior knowledge of developing, structuring, and delivering complicated business applications.   

Along with the experience, you will need a proficient internal implementation team that can assist with the process back-to-back. It will be their responsibility to be attentive while the implementation progresses, limiting their ability to focus on business as normal.  

2. Less Volatility, Smooth Scaling

You have the choice to seek support from NetSuite’s own team, usually mentioned as NetSuite direct, to help you with the implementation.  

As the creators of the product, they will be well-grounded in the features and abilities of the software. This makes them a good fit for conventional setups with minimal customization demands. 

3. Partner Implementation 

In comparison to other solutions, NetSuite implementation providers often deliver a greater level of proficiency thanks to their skilled team of consultants. In order to give you long-term peace of mind, the partners may also be counted on to offer post-go-live maintenance and support. It can be difficult to choose the best implementation partner, therefore it is crucial to carefully evaluate each partner’s capabilities and expertise in your particular business field or use case.   

Duration of NetSuite ERP Implementation 

Similar to the implementation of every large-scale technology, ERP implementations are complicated projects that require significant groundwork, time, and resources to accomplish. There is no specific time duration, it may depend on or vary according to your specific requirements and the size of your business. A complete implementation can take nearly a month or maybe a year depending on the size.  

Small to medium enterprises with yearly revenue of $5 - $50 million that have less than ten users who only need unique functionalities without customization or plug-ins. 

Medium to large enterprises which have various subsidiaries and need more than four NetSuite modules. There will be a limited requirement for modification and add-ons. Their revenue will be between $50 to $200 million per year. The software will be utilized by ten to a hundred employees who operate in a particular currency and language.  

Large businesses with numerous subsidiaries, locations, time belts, currencies, and languages with over 100 users. The intricacies involved in business, consolidations, and operations will necessitate huge amounts of customization and numerous add-on modules. The yearly revenue will be over $200 million.

Elements That Influence the Timeline of Implementation     

The size and strength of your prevailing data 

The availability of an in-house team to help with migration and Implementation 

The amount of third-party integrations 

The intricacies of software needs and the number of modules or custom functionalities.

Significant Stages in an Effective NetSuite Implementation  

An efficient NetSuite implementation has the capability to transform a business. There are several major phases that lead to a successful NetSuite implementation.  

Discovery 

The inevitable part of a NetSuite implementation is the discovery stage. This phase comprises a group of processes that are accomplished to digest user and business needs. The aim of this phase is to completely learn your existing business challenges and objectives, what the user requires across the enterprise, and how software is required to be developed to satisfy all these requirements.   

Planning

If you are considering implementing any kind of ERP system, it is crucial to own an ERP implementation plan that thoroughly evaluates the resources required, the timeline for deployment, and how the change will be handled. 

A. Budgeting

The most significant factor of any ERP implementation is Budgeting. You cannot wish to receive everything you require, which signifies you will have to make some difficult decisions. It is simple to go overboard and reduce expenses when preparing for your NetSuite implementation. The aim should be to maintain an equal proportion between the two peaks and prepare a budget that contains an attainable contingency.  

B. Change Management Plan 

The change management plan is an important factor in ERP implementation but it has always been ignored and poorly planned. It can actually assist in succeeding in a large ERP implementation.   

Change management plan as the term implies, helps the users cope with the changes happening during the establishment of your new system. Additionally, it totally reduces time consumption and money by outlining the anticipated results and related expenses.  

The plan should consist of the specific details of the implementation process, including the where, when, why, and how. As well as communication mediums, when development updates will be provided and how people can arise any concerns that may impact the deployment.   

Install 

The development or installation phase is where the deployment process starts to lay the conclusions from discovery. These findings will be executed by establishing and structuring the system. The objective of this stage is to confirm that NetSuite is installed efficiently including any custom integrations or formats your organization needs.  

Migration 

Migrating from obsolete ERP systems or numerous systems to NetSuite can be a complicated process based on the standard and quantity of data you require to transfer from various shattered systems.   

This phase should assess data standards primarily over every source to guarantee incorrect or duplicate documents are updated. The transitioning team will further bring in this cleaned data and confirm it is perfectly structured inside the NetSuite environment.    

Testing 

Technical testing will be done all over the NetSuite implementation process since developers will test separate elements of the system for errors and unforeseen behavior. This will permit them to analyze any unexpected bugs rapidly.  

Along with technical testing, it is also significant to ensure that the customers got the opportunity to test the system prior to its go-live. This is called the User Acceptance Test (UAT). 

While UAT, the real end-users test the system to substantiate the business processes and observe if the software satisfies the needs, they summarized during the discovery stage. This is also a great chance to familiarize users with the software and assist them to learn to utilize it to attain their goals.  

Training

It is important to have better NetSuite training for all partners and customers before deploying the software. This should aim at providing all with a basic knowledge of the entire system and detailed information on how it can be incorporated into their everyday workflows and utilized to acquire their objectives.  

Employees can use guided workflows, which are an exceptionally effective method of guiding them over the system in real-time, in conjunction with on-demand assistance widgets to help them if they get stuck at any point. 

Deployment

When the software is installed, configured, and completely tested, it is then all set for deployment into a live production environment. In order to make sure everyone foresees the change and be ready for it, the date of the implementation should be conveyed throughout your firm.  

It is highly critical that every employee is confident in employing the software before implementation, hence the training should be commenced prior to go-live.   

Support 

After the configuration and deployment, NetSuite also requires support similar to any other software. You might want to include extra modules or customizations to your NetSuite setup in addition to performing standard maintenance and upgrades to increase its functionality.  

It is not only the software that requires long-term support; you must also ensure that you have the resources ready to assist your personnel in the long term by providing constant training and assistance using the system.

Cost of ERP Implementation

It is hard to offer a “one size fits all” prize for NetSuite implementations. The normal rate can begin from $25,000 to $100,000 and can rise for big enterprise organizations. 

It is vital to allocate properly for each phase of the implementation process. For instance, data migration individually can charge between $1000-2500 for small enterprises. You must also consider the NetSuite license fee, which normally processes on a titled user appeal and hence expands the number of users you need.  

Along with the complete fees associated with spreading out the system, it is also significant to budget for efficient training to ascertain that you gain the complete advantages of opening out a new ERP system. 

Let’s Make Your NetSuite Implementation a Success  

It requires a good deal of effort to schedule and execute an effective NetSuite implementation. The processes range from obtaining executive buy-in and substantiating requirements to structuring the system properly and testing its success. Therefore, it is significant to have a better knowledge of your business, customers, and goals, along with a rigid NetSuite implementation project plan to direct your processes.  

Looking for an efficient NetSuite implementation partner? Well, we can really help you. Connect with Jobin & Jismi for better assistance. We are efficiently serving businesses since 2012. 

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