Small businesses take flight with NetSuite solutions

October 4, 2015
Posted in Intacct
October 4, 2015 TM Group

Small businesses take flight with NetSuite solutions

NetSuite is the nation’s leading provider of cloud-based ERP solutions and omnichannel software suites, and it grows more popular ever day. Data from the Gartner report “Market Share: All Software Markets, Worldwide, 2014” found NetSuite outgrew all other financial management systems (FMS) in the top 10 for the second year in a row.

NetSuite increased its market share at a rate of 46.6 percent, which is more than six times greater than the rate of the second place contender. Its revenue growth rate of 53.5 percent outpaced the runner up by more than 400 percent.

The company credits its success to the popularity of cloud-deployed solutions, its global focus and its affordability compared to other options. Appropriately, companies experiencing growth themselves have taken a shine to NetSuite systems to redesign infrastructure for larger markets and more locations.

Any business that is about to expand and wants to streamline its data systems should explore a NetSuite option to overcome the growing pains of acquiring more customers and entering new territories.

Small airline uses NetSuite to chase big dreams
Growth can be difficult, especially when a company wants to take its services to new global markets. Diginomica shared the example of a business that implemented a NetSuite solution to track more assets, customers and territories.

Scoot is a wholly owned subsidiary of Singapore airlines. It is definitely the smallest venture in the multibrand corporation. Before the new software implementation, Scoot had six aircraft providing service to 15 destinations. The company had done well and decided to broaden its scope. To increase its operations, it needed a data infrastructure solution that was flexible, affordable and intuitive.

The small airline chose a NetSuite platform over other ERP options for many reasons. NetSuite reported Scoot Head of Finance Ng Long Jian felt the software offered the real-time data visibility, quick implementation and adaptability the company needed.

“We wanted a modern, agile business platform that could scale rapidly while ‘futureproofing’ our company for long-term innovation and growth,” Ng Long Jian told Singapore Today.

Scoot plans to triple the size of its fleet and start offering flights to the west. The NetSuite International Edition facilitates financial transactions using more than a dozen different currencies. The employees can also track the depreciation of new and old aircraft assets, allowing the company to bring in newer vehicles and maintain optimum performance of all planes. The costs of fuel, engineering, marketing and staffing are all carefully monitored in the system.

Using automated processes, Scoot was able to save money on staffing. Employees quickly adapted to the system, implementation was rapid and daily use became commonplace. As the business continued to expand, the company acquired different modules and add-on solutions. The NetSuite platform provided assistance in every step of the process and Scoot is very satisfied with the software’s performance.

Small businesses need an affordable ERP solution
NetSuite said businesses that grow have little time for learning curves. Companies have to expand their operations without losing current customers or wasting resources on changeover.

A unified data system that offers cloud-deployed financial, ERP e-commerce, and CRM solutions is critical for business managers who want a centralized system for everyday activities. NetSuite prides itself on offering an option that is easy to implement and provides unique functionality for all companies, regardless of industry.

When a small business shops for new solutions, it should partner with a software provider familiar with NetSuite performance. An ERP consultant should help a company design a NetSuite platform specifically for its normal operations. A software partner must detail an implementation plan that is efficient and works with current routines. After an effective adoption process, a small business should see a fast turnaround on its investment and continue its successful growth.

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