There is a fundamental shift changing in modern financial applications and the primary driver is the concept of digital transformation. As our economy shifts to the digital age, updates in modern business applications are transforming the ability for companies to access their key information and make decisions at a faster pace than ever before. Focusing on enabling technologies with the ability to create a repeatable set of processes used to disrupt the traditional thinking of the way companies interact with businesses, prospects, customers, partners and new markets will separate the good from the best.
Digital transformation is causing the middle market to rethink their technology strategy. One of the primary systems in this discussion is ERP. Sometimes it’s hard to spot when companies should make these shifts in technology as certainly there is a right time for each to make these decisions. Most established companies don’t want to be first movers because of fear that they’re an experiment with the new technology. Being last to the finish line can also be very harmful to the organization. Knowing when to make these moves is an important part of your organizational strategy. Here are a few ideas to think about to see where you’re at.
If you worry about any of these areas, maybe it’s time for a deeper discussion.
- Is it difficult to find out what’s really going on across the business in real-time?
- Manual processes are used to entering and reconciling data across systems.
- Sales are lost because employees can’t get information to where it is needed fast enough.
- More accounting is done outside of the financial system that in it.
- The business spends too much time worrying about technology instead of focusing on business results.
NetSuite cloud ERP is a digitally enabled technology that puts companies in the driver’s seat for maximized performance.
NetSuite is an always-current, cloud-based business solution—the newer, younger model of business management systems. NetSuite’s native flexibility and agility is all-encompassing, and the overhead of maintaining an underlying technology layer is non-existent. NetSuite is designed to stay up-to-date with state of the art business automation, giving companies the tools needed to stay ahead of the competition and to seize new opportunities as they emerge and grow.
The economic forecast for 2018 suggests we’ll see significant investments in technology across middle market businesses. That means if it’s not on your radar to adopt enabling technologies like NetSuite for ERP, you’re likely going to lose a step to your competition.
To learn more about how small to midmarket firms can capitalize on digital transformation, read this insight article.
By: Brent Knowles – National NetSuite Solution Provider