Small businesses are always fishing out for agile and scalable technologies. They often need something that is flexible and fits within their not-so-big budget plans. Usually, their go-to platforms are entry-grade ERP softwares or even Excel if they are too lean!!. But then they start doubting themselves over the decision. This is because small businesses often have this huge growth curve that these systems are not quite capable of handling.
Why Small businesses need ERP?
One of the biggest factors that can stunt the growth of an enterprise is software that is not capable of scaling according to the needs of the business. It's time for small businesses to consider a Cloud ERP system like Netsuite that is capable of providing enterprise-grade solutions at affordable rates.
Netsuite’s subscription-based model will easily synchronize with the rapid growth of small organizations. Here, we will learn more about Netsuite and how it perfectly fits into the ‘small business’ model.
How small business can afford ERP?
ERP systems were initially developed for big businesses and they were priced accordingly, but ever-since cloud-based ERPs came to light. The whole ERP market went through a drastic change and now they are much more accessible to small businesses operating in a small margin.
CAPEX vs OPEX
Understanding CAPEX (Capital Expenditure) and OPEX (Operational Expenditure) is essential while making an investment decision. Small businesses particularly don’t have the luxury of trial and error unlike the big ones, therefore understanding the capital allocation to new software is extremely important.
CAPEX or capital expense is money that is paid upfront for software/equipment along with a support contract, whereas in OPEX or operational expense - all expenses are combined into one contract.
CAPEX is often the preferred choice of many big companies because it offers them the option of a one-time payment, although this would include paying licensing and support costs apart from the upfront cost that is paid.
Whereas in OPEX, businesses will only be able to buy the license but comparatively this is a much better option because even in CAPEX, the costs are not completely eliminated, there’s a need to pay for back-ups, upgrades, and other ongoing costs on top of the huge sum of money that is paid upfront. Therefore Small businesses usually opt into OPEX because of reduced upfront cost.
Netsuite’s Subscription model
Netsuite offers Software as a Service (SaaS) model licensing which is an ideal choice for small-medium businesses. This is because small businesses often have a low end-user count and are uncomfortable paying the huge upfront cost. Netsuite pricing mechanisms align with small-businesses and offer the ability to scale accordingly with the growth of the business.
Why consider Netsuite?
There’s a common fallacy surrounding the small to mid-sized businesses that they need not allocate their budget into ERP systems. But it’s critical for them to invest if they plan on managing their business hassle-free.
Netsuite offers end-end IT solutions for small businesses, the software was built to end data silos and eliminate the cluttering of data from various software. It is currently servicing a wide range of businesses from startups to multinational companies. Netsuite is a world-class ERP that provides budget-friendly ERP solutions for small businesses.
Tools in Netsuite
If you are a small-business owner who’s looking for a single ecosystem, then Netsuite’s ERP solution may be the right fit for you. With in-built business intelligence and real-time visibility into your business operations, it delivers actionable insights 24/7 that will help make instantaneous business decisions.
Netsuite’s extensive suite of tools will enhance your productivity in verticals like Financial Management, SCM, eCommerce, CRM, and many more. Also, since these applications are role-based, they will be easy to navigate for respective departments and will provide customized insights. Here we’ll discuss a few key features of Netsuite and how it’ll help small businesses.
Netsuite’s Global ERP for Small-businesses
1. Seamlessly plan your Financials
Put an end to analyzing piles of financial data and have custom reports designed to suit your needs. Netsuite solves all your accounting hassles with real-time financial visibility.
2. Eliminate Data silos
Several SMB’s have already adopted Netsuite because it hands you a single version of the truth. Data is automatically synced across multiple departments and this provides real-time insights across the organization.
3. Accelerate entry into new markets
Netsuite provides an edge while entering new markets by improving engagement levels with the customers, adding product lines, and more. The software simply grows along with your business needs.
4. All in one place
Netsuite provides visibility into almost all verticals of your business like Finances, Customer relationship, HRM, inventory, and logistics. It provides insights into all key areas and acts as a one-stop solution for all business-related issues.
Netsuite is not a generic solution rather it caters to all the needs of your business in a customized manner. Customization is one of its key properties and all unique business processes can be tailored in a way that fits your business.
6. Advanced Analytics
Analytics is the future for a data-driven society and if your business lacks that competitive edge, you might fall short in the race. Customize your insights and metrics for every line of your business and derive actionable insights. Netsuite business intelligence improves your decision-making capability to a large extent.
7. Quick ROI
Cloud-based software like Netsuite eliminates unwanted maintenance costs. Also, the burden of keeping the software up-to-date with the latest technologies and expensive upgrades is out of the question. Thus the total cost of ownership is reduced, positively impacting your ROI.
Still wandering for the expert tech to boost your business growth? Get in touch with the experts of Jobin & Jismi and start pumping the fuel for growth.