Technology companies are familiar with the concept of system requirements but often the internal systems found at a technology company are lacking when it comes to business requirements. The unique business requirements for technology companies require a unique solution for their internal systems.
Technology companies need a Customer Relationship Management (CRM) system. They need a system that will allow them to start tracking information as early as marketing campaigns and allow them to follow the information all the way through their unique sales cycle and contract renewals. Along with other small and medium size companies, technology companies deal with disparate systems that contain only part of their data making it difficult to make informed decisions. Many companies recognize this shortcoming of Excel and Outlook and will go with a best of breed approach when selecting a CRM system and go with a CRM system like Salesforce.com to meet the sales team’s requirements. And because no CRM system lives in a vacuum, this requires their ERP system to be able to integrate with their CRM system.
But the sales team does not work in a vacuum when it comes to interacting with customers. Having good customer support is vital to maintain a customer base. It’s important for the customer support staff to have current information on service-level agreements (SLAs) so that they are able to keep the company in compliance. And with disparate systems between the sales and customer service team, it makes it almost impossible to meet the SLAs.
Once a sale has been completed, it’s up to the accounting team to figure out how to record it on the books. Because the technology industry includes hardware, software, and services companies along with some that do a hybrid, it is hard for accounting teams to keep track of the information in the disparate system and to account for each sale. Accounting teams in technology companies require an ERP system that will allow them to consistently deal with issues like software revenue recognition and VSOE. Because business decisions, loans and company valuation are based on the financial reports, it is also important that the ERP system not only have the ability to produce timely and accurate reports, but that it also has the ability to maintain and enforce internal controls and is auditable.
NetSuite is a leading cloud based CRM and ERP system designed to meet the needs of the technology industry. Because the CRM and ERP information are located in the same environment, companies are now able to quickly see a live 360° view of their customers. NetSuite is a Software as a service (SaaS), which allows growing companies to implement with the assurance that the product will scale to meet future staffing needs. The saying, “NetSuite runs on NetSuite” means that NetSuite has a continuous vested interest in meeting the unique needs of the technology industry. As a nationally recognized NetSuite partner, RSM has the experience to deliver this proven solution to the technology industry. Contact us today at 800-274-3978 or by email at firstname.lastname@example.org.
By: Seth Bacon – Colorado NetSuite Solution Provider