Why Business Owners Should Consider Cloud-Based ERP for Startups
Running a startup, you’re pulled in a lot of different directions. There are investors to pitch, numbers to crunch, and – don’t forget – orders to fulfill. And in the time it took you to read that last sentence you received another 12 emails… and 4 of them are flagged as high priority.
With so much going on, at some point, you need to start thinking about enterprise resource planning (ERP). An ERP solution will save you time, money, and probably a lot of headaches, by consolidating all your startup’s most important business processes and data in one place. Don’t let the “enterprise” in ERP fool you, either: ERP software is for businesses of all sizes — startups included. And thanks to cloud-based solutions like NetSuite, it’s more affordable (and reliable) than ever.
Not sure if ERP software is right for your startup? If you can answer “yes” to any of the following statements, it’s time to start thinking about cloud-based ERP. Here’s why it’s important to consider ERP for startups:
1. You have multiple systems and duplicate data
If you’re managing the same data in multiple systems (or spreadsheets), it can be nearly impossible to ensure a “single version of the truth.” How can you effectively manage your company if the data you’re relying on isn’t, well, reliable? ERP software pulls your sales, finance, and customer data into a single system, so you always know you’re working with the latest and greatest.
2. Your systems aren’t integrated
If you’re constantly copying, pasting or importing data from one spreadsheet to another, duplicating data entry in separate systems or your critical systems don’t “talk” to each other, you’re wasting valuable time and risking serious errors. Integrated ERP software links sales, service, finance and fulfillment processes so you can spend more time growing your business, not troubleshooting it.
3. You lack visibility
Successful startups are agile; when growth stalls, you have to be ready to turn on a dime. But you can’t expect to be nimble when you don’t have at-a-glance insight into performance. A cloud-based ERP solution like NetSuite will give you the real-time, integrated performance reporting and insight you need to fine-tune your strategy on the fly.
4. There’s no IT person on your team
If you’re like most entrepreneurs and early-stage startup employees, you wear a lot of different hats, and might even be responsible for managing your own IT. No problem: cloud ERP software minimizes implementation time and eliminates the development costs demanded by on-premise solutions.
5. You’re struggling to keep up with reporting
Investors demand frequent reporting, and ensuring reports are delivered timely and accurately can be a major challenge for startups. Not only that, but most basic accounting software simply isn’t set up to handle these demands. A cloud-based ERP solution like NetSuite, on the other hand, streamlines data and simplifies reporting for faster, more accurate reports delivered how you want them when you want them.
If you’re running a startup and answered “yes” to even one of the questions above, it may be time to think about enterprise resource management. NetSuite ERP is built on the cloud and designed to streamline business processes, reduce IT costs, and offer a 360-degree view of the customer with integrated reporting, real-time updates, and mobile access.