Your current enterprise resource management system is familiar. It has all your data in it. You have used it for years and you know exactly how to get the results you want from it. Unfortunately, that system is also holding back the rest of your business from growth, security, efficiency, productivity—and the list goes on. There are several important benefits that moving to a cloud-based ERP brings to an organization, and specifically, to the CFO’s office.
Greatly Reduce Your Infrastructure Costs
Consider how much your company spent on its internal servers. Now consider that in order to stay on top of technology, you will be spending that every few years to replace and upgrade equipment. As you expand, you will need to increase that expense from the additional hardware needed. By switching to NetSuite ERP you can completely eliminate that infrastructure cost. NetSuite is cloud-based, nothing is stored on-premise. In addition, because SaaS services are reached through the Internet, you and your employees can access and manage business processes on any device.
For the CFO, this means greater budget allotment for your departments. Cloud-based ERP also means higher security surrounding the company’s vital information, reducing the CFO’s stress of security concerns. Less overhead expenditure, combined with greater business process efficiency is never anything to complain about.
Information is Accessible Anywhere by Any Authorized User
You no longer need to be out of touch while on business trips. NetSuite allows any authorized user to log into the system from anywhere in the world (or anywhere with Internet access). You can access real-time data while meeting with clients and vendors, or hire the best talent regardless of their location. NetSuite software and similar solutions allow all your employees to have the same productivity levels regardless of their physical location. This is especially important if your business has multiple locations. Localized software inhibits your employees from accessing data in real-time, and self-hosting servers are extremely expensive when your company has to maintain speed and reliability at multiple locations.
This means that the CFO can work remotely, manage other locations on a single platform, and have access to reports in real-time due to modern cloud computing.
A Fully Customized Solution to Fit Your Business
When is the last time you signed into an application and it provided everything you need as well as everything that the department next to you needs to do their job? Often, the answer is never. Prepackaged software has to work in many different scenarios, and thus, many times does not mirror your business’s processes very accurately. Custom coded business management software seems to be the answer until you realize that your IT team has been spending all of their efforts in support and management of software alone.
Cloud ERP software answers this problem. The CFO now works off of one platform. When reports need to be pulled, they include a full picture not just what is exported from that single application, not to mention the reports show data in real-time. NetSuite aligns business processes so that when something goes into the system it appears across the board. This takes much of the weight off the CFO when preparing reports, budgeting, and looking at the business’s overall financial health. Simply sign-in, view your dashboard and click on what you need to further investigate.
Improved Data Security
This may seem counterintuitive, but moving to a cloud-based system, such as NetSuite, can actually heighten the security of your sensitive financial data. The reason for this is simple: all their clients need the best security possible and if they didn’t have top of the line security, they wouldn’t be in business. What is good for your data is good for everyone’s data. NetSuite can invest the resources to ensure that no one has access to your data except your users. Can your own IT department say that with the same level of confidence?
There is a reason that more and more companies are choosing NetSuite to help manage their business, as well as why Gartner named NetSuite the fastest growing financial management software vendor globally. Cost, efficiency and access are superior to a localized solution. Take the time to run the numbers, and you will see that NetSuite ERP is the right choice for your business for various reasons.