Why Manufacturers are Switching from QuickBooks to NetSuite

WHY MANUFACTURERS ARE SWITCHING FROM QUICKBOOKS TO NETSUITE

 

Massive changes are sweeping the manufacturing business landscape and are dramatically impacting manufacturers. To adapt in this dynamic environment, organizations must be able to quickly respond to changes in market conditions and customer requirements. Though they recognize this need to innovate, manufacturers have a remarkably difficult time finding business application solutions that can meet their needs in an affordable manner.

Many growing manufacturing are relying upon a hairball of unreliable spreadsheets and limited point solutions like QuickBooks. The relatively low cost of maintaining those systems masks the cost of inefficiencies in critical areas like monthly close or having accurate information to make informed business decisions quickly.

NETSUITE MANUFACTURING CUSTOMERS

118% Revenue Growth

84% Employee Efficiency  Improvement

81% Order Processing Improvement

Fast-growing manufacturers are especially challenged. How can spreadsheets handle globalization and multiple complex business models? Thus, these companies are faced with the difficult questions that come with growth.

  • Can our company grow faster selling to current customers or new ones?
  • Should we seek growth by expanding into new countries? What countries should we target and how can we win there?
  • Who can manufacturers trust to provide a platform for growth that extends beyond the back-office?
  • How do manufacturing companies take advantage of modern technologies without increasing cost and complexity?

Are you ready to turbo-charge your business? Tired of struggling with aging business systems, fragmented reporting and never-ending IT costs?

Switching from QuickBooks to NetSuite’s cloud solution enables companies to lower costs, streamline key business processes, boost productivity and be more competitive.

Manage your business end-to-end with one integrated business suite for all of your core processes. No more juggling of separate software applications, and wasting time and resources maintaining and upgrading a hairball of on-premise software applications.

QUANTIFIABLE BENEFITS

  • Delay Finance and Operations Hires Automation frees up finance and operations’ time allowing them to focus on revenue-generating strategic projects and analysis and allowing the company to scale while keeping headcount flat.
  • Inventory Visibility and Production Planning Use Demand Planning to forecast demand and anticipate when it’s time to order to meet that demand. Auto calculate reorder points and stocking levels based on historical precedence. Internally control what goes out to suppliers with Purchase Order approvals. Route appropriate inventory to best orders with Automatic Order Allocations.
  • Reduced Financial Close Time and Manual Data Entry Automate and control approvals on transactions from AP Bills to Journal Entries. Speed up period end close due to system controls being in place. Improve accuracy of financials. Reduce month-end processing costs and time.

SUITE APPROACH

A suite approach allows the whole company to view operations as a single version of the truth. Furthermore, predefined roles and dashboards that are oriented around a user’s day-to-day tasks allow for the most efficient consumption of information throughout the entire organization.

With a well-implemented cloud-based system, financial activities appear as soon as they are triggered. That coupled with ‘anywhere-anytime’ access means the decision makers can quickly act upon both adverse and favorable performance indicators. Decision-making becomes more proactive and strategic.

The combination of the above cloud benefits means that a well-executed move to cloud results in a much better and predictable cost of operation than is possible with disparate systems.

There is an increasing number of these companies who have migrated from QuickBooks and shown demonstrable benefits as a result.

For example, when Fluance started experiencing rapid sales growth, it realized that QuickBooks could no longer handle its complex business processes and would not be able to scale to support growth.

Fluance has dramatically improved efficiency since implementing NetSuite for financials, order and inventory management, CRM, and customer support in 2009. The company also relies on NetSuite for transactions with contract manufacturers, fulfillment by 3PL partners and its ecommerce website.

Since implementing NetSuite, Fluance has grown revenue 20 times, while handling 30 times more transactions. Order management and fulfillment that used to take 45 minutes is now done in two minutes, while Fluance has avoided the cost of five full-time order personnel. Real-time insights help Fluance track key metrics and fine-tune its product lineup.

QUANTIFIABLE BENEFITS

  • Lower Audit Costs Ever-changing compliance standards, small accounting teams and heavy spreadsheet use are time-consuming and subject to risk. This can lead to higher audit costs, or longer and more-involved audit processes.
  • Platform for Innovation Easily launch new business models and expand internationally with a platform that evaluates all possible ways to scale and increase revenue, and supports multi-currency, multi-entity and different accounting standards.

“We never would have been able to grow to where we are today without an ERP system like NetSuite.”
-Deepak Jain, Founder, Fluance

By automating processes and providing real-time visibility in the cloud, NetSuite has helped Fluance focus on its passion for high-quality audio without costly overhead. Customization abilities and partner solutions for EDI, taxation, demand planning and more give Fluance an agile platform to continue cranking up its business volume.

If your growing enterprise is experiencing any of the pains discussed where QuickBooks may be limiting your business growth, it may be time to consider NetSuite. Moving your company to NetSuite’s integrated suite of cloud-based solutions allows for more efficient and effective business operations—essential for growing a manufacturing organization and enabling employees to react to business needs in real-time.

 

 

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