The funny thing about life in New Zealand is we can legitimately tell everyone to the west of us that we are in the future. If today is Friday, for example, it’s still Thursday in America. But even as 2023 gets underway, the reality is a lot of businesses right here are stuck in the past with on-premises ERP systems that cost far too much both in terms of hardware, maintenance and support and other ‘direct’ expenses, as well as opportunity cost. In the latter category could fall things like crucial business functions rendered overly cumbersome and complex, or missed orders or deals because information isn’t getting to the right people in time. Or even relatively simple processes can fail, damaging reputations and causing ill-will: real wrath quickly flows from just one late payroll run, and supplier confidence evaporates when Accounts Payable goes down.
Living in the future should mean equipping your business with, if not the best that technology has to offer, then certainly the best-proven solutions available. Those delivering advantages which today are considered competitive necessities, executing all those basic-yet-essential business functions rapidly, reliably, and efficiently.
Beyond standard business functions
Of course, modern cloud ERP systems do quite a bit more besides those basic-yet-essential functions. An excellent and easily understood summary of all the modules NetSuite has to offer is available here, and it even starts with an overview of what a module is and how it ‘feeds into’ the eventual whole of an ERP solution. Even for old ERP hands, this easily digested piece is a quick and worthwhile read.
Among those modules are the sort of things you’d expect - Finance, Procurement, Manufacturing, and HR. Then there are some you might not (particularly if your ERP is a clunky obsolete system from the past), such as Workforce Management, Project Management, Marketing Automation and E-commerce.
With any ERP solution, customisation is always a possibility. However, wherever possible, avoiding customisation is generally a good idea as it means avoiding complexity; customisation can make upgrades difficult and drives up dependencies on expensive programming and maintenance teams.
That’s got a thing or two to do with modules because, the more modules any one ERP provider offers, the more likely it has an off-the-shelf solution for your requirements. Such as Supply Chain Management, Inventory Management, Warehouse Management or Customer Relationship Management, all of which are in NetSuite’s offering.
When the modules all fit natively into a single solution, data transfer is easier, allowing for an accurate overall picture of your organisation.
Unique cloud advantages
Hard to believe, but NetSuite was founded way back in 1998 (as NetLedger) with an idea which was essentially the basis for cloud ERP. Back in those days, it wasn’t called cloud and though ERP systems were certainly around, the offering was essentially web-hosted accounting software.
Obviously, a fair bit has happened in the past 25 years and that means with what is today a fully-matured ERP offering (and arguably the best for the sort of small and medium businesses characteristic of the New Zealand commercial landscape) because with cloud ERP, you get all the benefits of a proven modular system and quite a bit besides.
With economists anticipating a bumpy ride this year and into the foreseeable future, the unique benefits of a cloud ERP have arguably never been more desirable (and as Oracle/NetSuite demonstrates in the ‘7 Ways Cloud ERP Helps Businesses to Grow’ whitepaper, there are at least 7 major benefits).
It is worth checking out the whitepaper if you have 10 minutes or so spare – grab a cup of coffee and settle in. A brief synopsis, though, is that cloud is the way to go because it is flexible, permits work-from-home by fully equipping employees with secure access to the ERP system (and with employees really, really hard to find these days, that benefit can’t be overemphasised), automation of mundane yet essential tasks like accounting and regulatory compliance, and an accurate overall view of your business.
Tough times, tough decisions
Belt-tightening is generally unpleasant, but necessary. With business confidence at an all-time low (well, since NZIER started its study in 1961), companies across New Zealand are looking at where, how and when they can cut costs and improve performance. Achieving that depends on going over everything with a fine-toothed comb. In some cases, it will mean reducing headcounts or tightening focus on identified niches, or perhaps limiting growth ambitions until a semblance of certainty returns. With the difficulties in finding qualified and keen staff, it may also mean seeking to do more with the same workforce.
Now, investing in a new cloud ERP while all that’s going on is by no means a panacea or, for some businesses, in any way advisable. For others, increased flexibility, performance, efficiency, and automation of key processes, may well be something of a saviour.
If your business potentially falls into that second category, get in touch. We have a growing number of highly satisfied NetSuite users in New Zealand, and we’d love to help add you to that community.
