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Xero vs NetSuite. Migrate to Cloud ERP in 45 Days.

Xero vs NetSuite. Migrate to Cloud ERP in 45 Days.

Products like MYOB and Xero provide outstanding accounting functionality. However, as businesses grow and prepare for the future, they find that the complexity of managing their distribution operations increases, and the limits of these entry-level software packages can become a daily frustration.

Suitesuccess Starter is the ideal solution for growing businesses to painlessly upgrade from stand-alone accounting packages and offers functionality to streamline your inventory management, demand planning, work order and more. If you re sinking in a sea of systems, spreadsheets, integrations, API’s, read on.

Differences in Xero vs NetSuite.

While Xero and NetSuite are ranked amongst the best online accounting solutions in the world, their scope and targets are different. Xero’s aims to solve day to day accounting and is not part of a larger suite. NetSuite, on the other hand, is part of a comprehensive and integrated suite integrated ERP/CRM at lower cost than traditional vendors like SAP or Microsoft Dynamics.

Both Xero and NetSuite Financials provide a full range of accounting capabilities like accounts receivable and payable, integrated banking and reconciliation, invoicing and billing, expense tracking, reporting, tax management, payroll, budgeting, and forecasting, etc. But NetSuite covers a wider range of services like CRM, e-commerce, project management, business intelligence, work orders, field service management and others.

NetSuite as more complex product to configure, typically required a several months implementation, but since the introduction of SuiteSuccess Starter Edition, Oracle+NetSuite’s newest product offering, it has revolutionised the way that small and medium-sized businesses approach upgrading from entry-level accounting packages. It can be implemented sometimes as fast as in 45 days.

The solution is an out-of-the-box NetSuite Edition, pre-built with the leading practices for a growing small business, incorporating tailored dashboards, roles, workflows and more. SuiteSuccess Starter edition provides core functionality across:

  1. Accounting and Financial Management.
  2. Sales, Marketing and CRM Management.
  3. Operations and Business Intelligence.
  4. Inventory and Warehouse Management.

For over 20 years, NetSuite has been the leader in Cloud ERP for Distributors and boasts some of the world’s leading wholesalers as happy clients.

SuiteSuccess, Your Step-by-Step Guide

Cloud technology has taken hold. Leaders in their industries have already adopted the latest technology as it provides real-time information, access from anywhere in the world, and a better end user experience.

SuiteSuccess is NetSuite’s latest innovation designed to expand businesses upgrade their legacy systems to an industry-tailored out-of-the-box business management platform.

The rapid implementation model is only possible due to the leading practices already built into the SuiteSuccess platform. Hours of implementation and scripting effort has been bundled into the account from the first day, which means customers and implementation partners can focus on loading customer, vendor, item and inventory data into the system, and move into testing without having to build the system from the ground up.

What are the leading practices?

For over 20 years, NetSuite has dominated the Cloud ERP space. With the combined learnings of thousands of implementations, NetSuite has taken this information to build out standard industry practices including a chart of accounts, reports, dashboards, roles, and custom information to give wholesale distributors a platform to grow.

How do you know if SuiteSucess is right for you?

There are four common situations where SuiteSuccess rapid implementation provides a superior experience for customers:

1. You are facing severe time constraints.

  • You are currently using a legacy system or version that is going to become unsupported, or your contract is nearing expiry.
  • You are starting a new business, with tight timeframes to commence operations.

2. Your current software is preventing growth.

  • Legacy systems are preventing you from acquiring new business, or improving current processes to allow for the management of increased demand.
  • Your business model has changed, and existing processes and procedures do not translate to the new business strategy.

3. You are hiring more people to handle growth.

  • You’re hiring for labour that could otherwise be handled through process improvement and automation.
  • You’ve hired more sales, accounting or warehouse staff to compensate for inefficient systems.

4. Your customer service level has dropped due to increased demand.

  • You do not have internal knowledge of best practices and need support to ensure that you are operating in the best possible way.
  • You’ve lost staff in the business that helps key knowledge in business operations.
  • Your staff are being stretched too thin as the business grows.

Klugo are leaders in leveraging the power of NetSuite. As a 5 Star NetSuite Partner, we help businesses take their first step into ERP, and support their ongoing journey to maximise their investment in Cloud ERP technology.

Need a specialist’s free advice?

Feel free to call an expert in SuiteSuccess. Find out how NetSuite cloud-based technology can transform your business.

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The Secret to Superior Inventory Management

The Secret to Superior Inventory Management

Seize Distribution Opportunities

The downfall of wholesale distribution has been highly exaggerated in recent years. Yes, manufacturers have more opportunities nowadays to sell directly to consumers, but there are two main reasons why distributors are needed now more than ever. Manufacturers’ supply chains often lack the scale, sophistication, and efficiency that most distributors possess, and reaching similar levels would incur major ongoing costs. Secondly, the direct-to-consumer model can cannibalise sales from channels that rely on wholesale distribution. For distributors, it’s all about seizing the opportunities in place in order to respond to consumer expectations with greater efficiency and agility.

Reducing Inventory and Operating Costs

To keep up with (and keep profiting from) changes in consumer demand, inventories must be low and operating costs need to be stable. This involves streamlining processes, automating systems, and doing whatever you can to minimise costs and delays. By using the right platform for your business, you can manage the growing complexities of wholesale distribution that manual methods simply cannot, and coordinate the three main areas of operation: inventory, deliverability and profitability.

Consumer Demand Changes Quickly

Consumers switch between products and brands. The quicker they do this, the more agile distributors must be at adjusting their inventories. Challenging and demanding, this cycle can be damaging to those who fail to align their supplies with demand. If stock is too low, sudden peaks in demand can mean that customers will go elsewhere. 41% of consumers in Australia say they would turn to overseas merchants if stock is unavailable locally.

Take a Lean Approach

Inaccurate orders and inefficient inventory utilisation can start to erode business margins and damage the ability to cater to abrupt shift in demand. Similarly, unused warehouse space or slow picking processes can further hinder distributors from promptly responding to consumers. Ultimately, these issues stem from lack of visibility into supply chain. If distributors can’t see the demand that products are experiencing, they’ll be in danger of taking a reactive stance which leaves little to no opportunity to operate in the agile, predictive way that manufacturers and supply chains need to grow sustainably.

NetSuite Inventory Management Software

Distributors need a system that comprehensively manages as many supply chain touch points as possible, but provides real-time data in a form that can easily be deciphered and converted to action. This is where cloud-based systems really excel, offering a platform for future growth and providing an integrated view of inventory movements throughout the supply chain all the way through to post-sales interactions. A key feature of NetSuite ERP is that it identifies “blind spots” in a distributor’s inventory; whether it’s the utilisation of actual inventory or planning for future demand. The better equipped that distributors are to predict future consumer expectations, the leaner and more agile their inventories will be. For more information, download the white paper below or get in touch with an expert.  

The Cloud Generation: Millennials in the Workforce and the Technology that Drives them

The Cloud Generation: Millennials in the Workforce and the Technology that Drives them

The Cloud Generation

The cloud generation is comprised of later Gen X and millennials. Having grown up with information at their fingertips, their expectations in the workplace are different from previous generations.

What is Cloud Technology?

Cloud technology is any software or application that is hosted online, and delivered as a service via a browser or operating system. Read more about cloud technology. 

The Workforce Today

1946 – 1964: Baby boomers. Workers aged between 53-71 are early IT adopters, prioritising job security with their main method of communication being via telephone. 1965 – 1980: Gen X workers aged between 37-51 care about having a work life balance with a preferred method of contact being email. 1981 – 2000: Millennials aged 17-31 are digital natives, seeking freedom and flexible working – mainly using text messaging/social media to communicate. 2001 onwards are Gen Z, aged 0-17. With Facetime as their means of contact, they are “digital die-hards”. In 2017, millennials make up 40% of the workforce – and by 2025, this will rocket up to 70% of millennials.

The Millennial Drivers

There are three key drivers for millennials:

  1. Flexibility.
  2. Automation.
  3. Real-time information.

Millennials need to be flexible. They need to be able to work anywhere, at any time, on any device. Due to having technology and devices so readily available, the need the power to control their own user experience and continually improve their environments. The ability to automate repetitive tasks is vital. Millennials need to be able to control how and when information is presented to them, and to tweak systems to suit their needs. Real-time information at all times means an open and collaborative information sharing place, in a “google-style” search environment.  Millennials take having information readily available for granted. If they cannot immediately find what they want or if it’s too hard to find, they’ll seek it elsewhere.

The millennial as a colleague

Millennials are more driven by the opportunity for education and training rather than money, as their salary expectations are not as high as previous generations. This creates a need for organisations to focus on staff acquisition and retention; if they cannot keep millennials happy then they’ll leave – resulting in high recruitment rates. With a priority for this generation listed as flexible working, investment in cloud systems is important for businesses. With access to information anytime, anywhere, it creates an open and collaborative working environment to enable millennials to work harder and smarter. By 2040, businesses are estimated to have less office space due to remote flexible working. Get in touch with one of our experts for more information about cloud technology. This content was originally used in a talk at the CFO Symposium. If you’d like to download the full slide deck, please enter your details below.