How ERP Software Helps Small Businesses Grow?

Small businesses are always on the hunt for agile and scalable technologies. They need something that is flexible and adjustable within their budget. Usually, their go-to platforms are entry-grade ERP software or even Excel. 

Gradually, they begin to doubt the decision they took. 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?

A software that does not scale can stunt the growth of any organization. Now it is time for business organizations to consider a Cloud ERP system. Among the lot, NetSuite is the best choice as it provides 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? 

Developers initially created ERP systems for big businesses and priced them accordingly. The advent of cloud-based ERPs has triggered a revolution in the market. 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. Understanding the capital allocation to new software is very important.  

CAPEX or capital expense comprises money paid for software/equipment. A support contract often accompanies it. In OPEX or operational expense, one combines all expenses into one contract.   

CAPEX is often the preferred choice of many big companies. It offers them the option of a one-time payment. This includes paying licensing and support costs apart from the upfront cost.   

In OPEX, businesses can buy the license. This option is much better because it does not completely eliminate costs, even in CAPEX. One needs to pay for back-ups, upgrades, and other ongoing costs. 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. They 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. It is all about not allocating 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 ends data silos and eliminates 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 

NetSuite ERP solution is the best option for owners of small business establishments. It delivers actionable insights 24/7 using its in-built business intelligence and real-time visibility. This helps business owners make quick decisions.  

NetSuite’s extensive suite of tools enhances productivity in verticals like Financial Management, SCM, eCommerce, CRM, and many more. These applications are role-based, and they are easy to navigate. Here are a few key features of NetSuite and how they 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.

5. Customization 

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.