How Service Companies Can Accelerate Productivity Using NetSuite

NetSuite for Service Companies

One aspect which is common with all service companies, across the world, is chaos.

There is always a deadline, a resource crunch, an angry client and a big meeting on ROI and more, happening at the same time, inside any service-oriented company.

This can be an issue with tracking for a logistics company or the issue of optimizing advertisement spend for a publicity company.

With different vendors, multiple suppliers, customers at different locations and myriad other factors, there is never a unified ERP solution for services companies, and this drags down the productivity, and makes the operation a tiresome process, with little margin.

But this now changes, with NetSuite, which is probably the only Cloud based ERP and CRM solutions provider, which deeply understands the nuances of service based industry, and provides a comprehensive suite of solutions for the same.

This is how services companies can accelerate their productivity, using NetSuite’s platform:

Complex Accounting, Simplified

Complex accounting functionalities such as billing, contract renewals, revenue reporting and projections, balance sheet and more can be easily automated and managed using NetSuite.

Tax Reporting, Filing Automated

Since service based firms are spread out across the globe, there arises complex tax issues related with the specific tax norms for specific nations, calculating exemptions and more.

But NetSuite simplifies that as well. Using SuiteTax, which is an inbuilt tax engine for NetSuite, services companies can now report and file taxes without any hassles. It can automatically update tax rates of 100 nations, which is an incredible feat in itself.

Operations, Streamlined

Using NetSuite, different departments of your service companies can integrate and communicate with one another, without any obstacle. Back office can now know the work load directly from the Work Flow department, and Accounts can know the present scenario of revenue generation directly from Operations. NetSuite unifies the different aspects of an organization, using Cloud, which eliminates the usage of different tools and applications by different departments.

Better Decision Making

When the management has access to all the relevant data, that too in real time, then making intelligent decisions becomes a norm, rather than an exception.

Using customized, and tailor-made dashboards, the decision makers of a services based company can be empowered with real, hardcore data, which provides them with an extra edge over their competitors.

Solving Resource Crunch

Employees are the biggest assets of any services based company, and NetSuite completely understands this fact. This is the reason that directly and indirectly, the HR Module of NetSuite can help service companies to manage and motivate their employees better, and thus increase productivity.

For example, if you are aware of the current position of a vital resource, and his/her availability, pending tasks, and leave program for a particular project, you can easily make the plan for next week, or next month, and optimize the existing resource pool.

For more information on how you can use NetSuite for your services company, and ensure high productivity, please Contact us at Inspirria Cloudtech.

Friday, August 30, 2019

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