With businesses making growth across countries and geographies, companies need to ensure their ERP systems are able to support their dynamic business models. Thus, companies need to identify the right system that is not just able to support the business model presently, but also later with its consistent growth. Following are some questions that cross the path while taking this decision of accurate ERP system for your success.
What kind of financial integration do we need?
Financial managers at companies require integrated financial information to provide a complete business overview to shareholders and financial authorities. Business operations in multiple locations give rise to multiple reports sets–all of which require to be integrated well. A global ERP software such as Oracle NetSuite makes it easy to automate processes and escape errors that can occur when reports pass through multiple hands. In order to get the best out of global NetSuite ERP software for financial integration, executives need to consider how it will support their business model. Since manual data transfer across a number of local systems can lead to low productivity and enhanced risks of reconciliation errors, a global ERP solution like Oracle NetSuite ERP needs to be flexible enough to support the expansion model that fits particular business requirements.
How will our business management software handle legal frameworks, multiple currencies and taxation?
For businesses cross borders; currency exchange rates have become a big factor today. There are a number of transactional taxes like VAT and GST that are applied in various countries. Your ideal global ERP system allows you to demonstrate success in all countries where your business is operated.
What kind of customizations are available with the ERP system?
Every business needs to have customized NetSuite cloud ERP to fit its specific business requirements and let their employees view dashboards and data in their own language and currency. They also want local business workflows to remain in place without causing added costs or any delays, which can be done by seamless integration to the global level. The ERP system should be able to provide successful implementation, where all calculations are performed by using similar database and every stakeholder can have a clear view of everything.
Can my new ERP software coexist with the on-premise ERP?
Backed with an on-premise ERP, businesses generally opt for new ERP system and manage them simultaneously, since a lot of legacy data is there in the on-premise system. Here, a two-tier implementation works rightly by keeping these two exist well, while introducing the more agile cloud-based capabilities without interrupting ongoing operations.
With all above questions to resolve, moving to a global ERP system appears to be a daunting task that becomes easy at the end of NetSuite India. inoday has surpassed expectations of industrial clients worldwide by putting their apprehensions to rest. Backed by huge domain experience and knowledge, our NetSuite consultants deliver end-to-end ERP solutions at very competitive prices.