Many of our customers came to us because they had simply outgrown Xero, but why is this and what does it mean?
Products like Xero provide outstanding accounting functionality. However, as your business grows and you prepare for the future, you may find that the complexity of managing operations increases, and the limits of these entry-level software packages become a daily frustration.
You may start to see some common warning signs that you’ve outgrown Xero:
- The volumes of data that you are trying to process through Xero are too large to be imported via CSV.
- Reporting will take longer and might even time out before its finished. Consolidated views, a comprehensive view across all business units and up-to-the-minute reporting can make the difference between thriving and barely surviving.
- You will probably find you are constantly having to export and manipulate data in Excel to produce the reports you need and team members waste time playing “Hunt for the Spreadsheet.”
- If you have multiple users entering invoices in Xero it causes duplication of invoice numbers.
- You are using manual processes to enter and reconcile data across multiple systems and it is frustrating for suppliers, customers, and business managers to wait for answers while information is manually transferred between systems.
- Sales forecasting and budgeting processes rely on guesswork, rather than facts.
- More accounting is done outside Xero than in it. Full audit trails, rich business planning and reporting, or automated processes mean having to add systems and constantly engineer short-term quick fixes. Xero simply can’t handle stronger financial controls, better SKU management, or support for more complex financial processes, such as recurring billing and invoicing.
- You spend too much time worrying about technology instead of focusing on business results.
Xero was designed to automate a limited set of core accounting functions. As a result, it limits how you run operations. As your business grows, you must adapt your processes to fit the application, rather than vice versa.
It is easy to run out of headroom when you have more customers, vendors, or inventory items than Xero can practically handle. The key to business growth and success is greater transaction volumes and speed, but it’s hard for Xero to handle this kind of pressure.
So, what should you do?
Consider moving to NetSuite.
NetSuite 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.
While Xero and NetSuite are ranked amongst the best online accounting solutions in the world, their scope and targets are different. Xero 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 at a 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, 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 SuiteSuccess has revolutionised the way that small and medium-sized businesses approach upgrading from entry-level accounting packages.
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.
NetSuite SuiteSuccess provides core functionality across:
- Accounting and Financial Management.
- Sales, Marketing and CRM Management.
- Operations and Business Intelligence.
- Inventory and Warehouse Management.
The rapid implementation model is only possible due to the leading practices already built into the SuiteSuccess platform. Hours of implementation and scripting effort have 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.
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 businesses a platform to grow.
Need a specialist’s free advice?
Feel free to call or schedule a consultation with an expert and find out how NetSuite cloud-based technology can transform your business.
