An Expert Guide to NetSuite Implementation for Firms of all Sizes

Are you planning to implement NetSuite to automate your business? Looking for a detailed overview of the implementation? It appears that you are on the right track.     

You have possibly learned that NetSuite is one of the most preferred cloud software for businesses. The worldwide ERP software market continues to be in a stage of quick expansion. The entire market size will exceed $49.5 billion by 2025.  

A successful NetSuite ERP deployment will lay the groundwork for your company's future processes and efficiency. However, risk is an inevitable factor.  

According to US research and consulting firm Gartner, 55% to 75% of all ERP projects do not meet their goals. As much as 35% of ERP implementations go beyond the budget. Now, what are the aspects to be wary of to avoid such troubles? Here we will explore the major fields to consider while planning, implementing, and supporting an effective NetSuite implementation.

What is NetSuite Implementation? 

Implementation involves the procedures, methods, and activities to bring the software to end-users. It includes planning, preparation, configuration, data migration, testing, and training for the go-live date. The method clearly details when, where, and how you can utilize your chosen ERP.

NetSuite Implementation Choices for Businesses   

There are three choices available:

1. Self-Implementation 

Do not attempt it unless you have prior knowledge of developing, structuring, and delivering complicated business applications.      

Along with experience, you will need a proficient internal implementation team. They will assist with the process back-to-back.

2. NetSuite Direct Implementation

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

Compared to other solutions, NetSuite implementation providers often deliver greater proficiency leveraging on their skilled team of consultants. Also involve the partners for offering post-go-live maintenance and support. This will ensure peace of mind. 

Choosing the best implementation partner is difficult. Carefully evaluate each one’s capabilities and expertise in that field. 

Timeline for the Process 

Just like any large-scale technology, ERP implementations are complicated projects that require significant groundwork, time, and resources. The duration varies according to your specific requirements and the size of your business. The whole process can take nearly a month or maybe a year depending on the size.

Implementation Duration Across Business Sizes

Small to Medium Enterprises (SMEs)   

SMEs with a yearly revenue of $5 - $50 million and less than 10 users only need unique functionalities without customization or plug-ins.  

Medium to Large Enterprises   

Those enterprises having various subsidiaries need more than four NetSuite modules. There will be a limited requirement for modification and add-ons. Their revenue is between $50 and $200 million a year. Ten to 100 employees who operate in a particular currency and language use the software.   

Large Businesses   

Large businesses have numerous subsidiaries, locations, time belts, currencies, and languages with over 100 users. Large amounts of customization and several add-on modules are necessary. This is because of the intricacies involved in business, consolidations, and operations. The yearly revenue will be over $200 million. 

Factors Shaping the Timeline for 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 intricacy of software needs and the number of modules or custom functionalities.

Key Phases Leading to Successful NetSuite Implementation

There are several major phases leading to successful NetSuite implementation.   

Discovery 

The inevitable phase is the discovery part. It comprises a group of processes to understand user and business needs thoroughly. The focus is on completely learning your existing business challenges, and user requirements. It also involves developing software that satisfies these needs.   

Planning

To implement an ERP system, it is crucial to have a well-thought-out plan. It should evaluate the resources required, the timeline for deployment, and handling the change.

A. Budgeting

The most significant factor of any ERP implementation is budgeting and so it requires careful consideration. You cannot have everything you wish for, so you must make difficult decisions. Striking a balance is crucial to avoid overspending while ensuring the budget includes a realistic contingency.  

B. Change Management Plan 

Most people mostly ignore the change management plan despite its importance. It can help succeed in a large implementation.     

The change management plan, as the term implies, helps users cope with the changes introduced. Also, it minimizes both time consumption and costs by outlining the expected results and related expenses.    

Ideally, the plan should consist of specific details of the implementation process such as the ‘where’, ‘when’, ‘why’, and ‘how’. It also includes communication mediums and outlines the schedule for development updates.

Installation 

The development or installation phase is when the deployment process begins to work on the findings from the discovery. Establishing and structuring the system can execute these findings.   

Migration 

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

This phase should assess data standards primarily over every source. This ensures the updating of incorrect or duplicate documents. The transitioning team brings this sanitized data and confirms it is perfectly structured inside the new environment. 

Testing 

One does technical testing during this process. Developers will test separate elements of the system for errors and unforeseen behavior. This permits them to analyze any unexpected bugs rapidly.     

It is also significant to ensure that the customers get the opportunity to test the system before go-live. User Acceptance Test (UAT) is the name given to it.    

In UAT, the real end-users test the system to substantiate the business processes. They also observe if the software satisfies the needs that they summarized during the discovery stage. This is also a great chance to get familiar with the software.

Training

All partners and customers get training before deploying the software. This should aim at providing basic knowledge of the system and detailed information on its integration into daily workflows.   

Employees use guided workflows, which are an exceptionally effective method of guiding them over the system in real-time.

Deployment

After installation, configuration, and testing, the software is then all set for deployment in a live production environment. One must convey the implementation date to everyone in the firm. This makes sure everyone foresees the change and is ready for it.     

One must ensure that every employee is confident in using the software before implementation.

Support 

Post-deployment, NetSuite also needs support like any other software. You might want to include extra modules or customizations. These are in addition to performing standard maintenance and upgrades to increase its functionality.     

One needs to ensure that the resources are in place for any assistance. The firm needs to ensure there is constant training in using the system.

Cost of ERP Implementation

Finding a ‘one-size-fits-all’ price for NetSuite implementations is difficult. The expenses can be anywhere between $25,000 and $100,000. For bigger enterprises, the cost can be higher.    

It is vital to allocate proper funds for each phase of the process. For instance, data migration individually can cost between $1,000 and $2,500 for small enterprises. You must also consider the NetSuite license fee. Additionally, it is important to set apart a portion of the budget for efficient training.

Let’s Make Your NetSuite Implementation a Success  

It requires a good deal of effort to plan and execute an effective NetSuite implementation. Each step is important. Therefore, it is significant to have a better knowledge of your business, customers, and goals. There must be a robust plan to direct your processes.    

Are you in search of an efficient NetSuite implementation partner? Look no further as Jobin & Jismi is here to provide top-notch assistance. With a proven track record of effectively serving businesses since 2012, we bring the best expertise needed for successful implementation. Your success is our commitment. Connect with us now!