Learn how Oracle NetSuite, a modern, agile, and scalable ERP, can help your company overcome today's market challenges and grow. Our mission as a company is to help businesses overcome these barriers and grow in the market.
We know that starting a business in Brazil is a challenge, and expanding it is an even greater challenge.
However, there are countless barriers to a company's growth, ranging from insufficient access to customer data, manual and disconnected processes, minimal visibility of operations for decision-making, building a winning team, or even keeping up-to-date with all the changes in regulations.
All these barriers not only harm sales, but also generate costs and risks for all companies.
From the start of Oracle NetSuite's operation, we noticed that business owners were spending sleepless nights trying to deal with all the intricacies of the business.
We realized that instead of business owners focusing on the elements most critical to their business growth, many of them were bogged down in financial and accounting details or issues involving shipping, inventory, and other demands.
Many dreams were being put aside because it was necessary to attend to more mundane tasks.
Have you, as a business owner or executive of a large company, ever felt like this?
Yes, we know you're not alone in this situation and that there's a better way to ensure a... Gaining competitiveness for your company.
In this text, we will explain how Oracle NetSuite can help you on this journey.
How can Oracle NetSuite help in the growth process?
Oracle NetSuite has been working with growing companies around the world for years.
We at Oracle NetSuite help companies in a wide variety of market segments, guiding them to success from their founding to their initial public offering (IPO).
Thousands of organizations rely on Oracle NetSuite to help them best prepare for growth and success.
For nearly 20 years, Oracle NetSuite has been studying high-growth companies across all sectors and in all countries.
In our study, we identified the most common barriers that hinder companies in their growth process.
Below, we share not only the challenges, but also some tips for your company to overcome these barriers and thrive.
5 Tips on how to overcome barriers and thrive with Oracle NetSuite
- How to find your next customer
In today's landscape, finding your next client isn't as easy as it used to be.
Nowadays, using modern marketing tactics is no longer enough. What makes this task even more difficult is the fact that your current installed base doesn't offer visibility into your customers because it's outdated and contains contaminated data.
However, the result of unsatisfactory customer data is dissatisfied customers. Your company not only fails to effectively communicate current data to new prospects, but also puts its existing customer base at serious risk.
We know that when data is scattered across sales spreadsheets, autonomous financial systems, and other applications, it's impossible to know which data is the most current, accurate, and reliable.
However, abandonment rates increase as customers find other suppliers that don't waste their time.
Acquiring new customers is crucial for companies that want to grow, and retaining customers is essential to ensure continued revenue growth.
Company sales teams need all data readily available – at their fingertips – so they have an instant view of the most important information about current and potential customers.
Oracle NetSuite has dramatically changed the nature of communication within the organization and with our customers, providing reports on all their corporate data from a single platform. single data repository.
The company gains a 360-degree view of its customer, including sales, services, orders, etc., which is impossible when customer data is scattered.
- How to increase your company's profits
Standalone financial systems are designed to automate a limited set of accounting functions.
These systems, as a result, limit how companies can perform their accounting operations.
However, as companies grow, they need to adapt their processes to the applications, rather than scaling the entire system to support growth.
We know that the secret to business growth and success is achieving greater speed and volume of transactions, but many financial systems struggle to cope with this type of pressure.
Complete audit trails, sophisticated planning and reporting, or automated processes require the addition of systems and constant re-engineering for short-term corrections.
However, independent financial systems often simply cannot handle tighter financial controls, better SKU management, or support for more complex financial processes such as recurring invoices and billing.
This often happens that it is not possible to execute complex business processes in different areas, such as financial management, revenue management, inventory management, and purchasing, using separate systems.
Combining finance and accounting functions into a single package that encompasses all these complex business processes increases the efficiency of financial and accounting closing and reduces costs. back-office costs.
With a single system that integrates all processes into one package, finance teams save time and can generate more accurate reports.
We know that migrating to a single, unified, cloud-based system is the only solution.
Oracle NetSuite's inherent agility and flexibility encompass the entire process, eliminating the need to maintain an underlying technology layer.
Oracle NetSuite was designed to remain at the forefront of business automation, providing companies with the tools they need to stay ahead of the competition and seize new opportunities for growth.
- How to gain complete visibility into your company's cash flow.
Most systems were designed for an era in which companies could wait until the end of the month to obtain and evaluate the data they needed. Without visibility, it's only possible to make generalized guesses, without the support of real metrics.
Today, this is no longer the case – consolidated visions and minute-by-minute updated reports can mean the difference between success and a struggle for survival.
Without the ability to analyze detailed data and potential variations, it's impossible to assess whether a company's performance is good or bad. It's also impossible to compare actual performance to strategic plans and quickly change course, apply the brakes, or accelerate.
The dashboard presented by outdated systems reveals nothing – or, worse – presents incorrect information, which can lead to very serious errors.
A good example of a situation like this is:
Investors in a publicly traded company want visibility into the company's activities and quarterly performance relative to expectations, as well as insight into how short-term performance aligns with its long-term strategy.
Real-time access to transparent performance data for analysis and comparison provides leaders with the information they need to evaluate their strategies.
They need to analyze key performance indicators (KPIs) and other metrics to accurately and confidently describe the revenue the company is generating (or losing) today and how much it should generate tomorrow. These descriptions should be both comprehensive and specific.
How can the Oracle NetSuite enterprise management system help a company in a situation like this?
Oracle NetSuite's complete and unified solution transforms the most important reports into dynamic assets that provide companies with the flexibility and visibility they need in ever-changing conditions.
We know that increasing financial accuracy and efficiency through visibility and automation is fundamental to cash flow. Real-time access to financial data allows for detailed information to generate... Reports and analyses quickly, saving time and money.
- How to comply with the various regulations of today's market.
As companies grow, business processes and regulations tend to take a backseat – which can be very harmful and risky.
Tax and compliance laws, year-end audits, and other government regulations overwhelm the finance team, leading to frustration.
Brazil is one of the countries with the highest tax burdens and complex government regulations; failing to stay updated and comply with tax obligations... This poses a significant risk to companies.
"Such changes in regulations and tax rules influence results and often compromise the cash flow and financial stability of companies," he comments. Marcos Sardas, business advisor and managing partner of Exxe Business Consulting, in a survey conducted by Forbes.
Teams need to juggle the day-to-day operations and compliance requirements, and finance executives often seek additional systems to help them manage everything.
While this may seem like a suitable strategy, these additional applications often fail to integrate with other systems, creating an even bigger mess.
We know that without a continuous flow of data, the misinterpretation of recent changes can remain isolated within a single system and unavailable to the entire company.
Year-end audits can be conducted with incorrect tax information if there is no registration system in place to automate and account for the various rules and regulations.
However, access to a single platform cloud-basedA system that automates and incorporates regulations for all departments is the solution for dealing with this challenge.
Currently, the number one priority for growing companies remains a system with excellent internal controls that properly examines monthly procedures, year-end closings, and preparation for tax payments and audits. This minimizes the risk of fraud, errors, and incorrect financial statements.
Oracle NetSuite ERP provides the necessary annual reports, as well as standard audit trails for a wide range of important financial records, enabling accurate reporting.
With Oracle NetSuite ERP capturing all data in one place, the solution provides a single source of truth. This significantly increases the quality of decision-making and the value of the company.
- How to build a winning team
You are only as strong as your weakest link – and that also applies to internal systems.
Currently, keeping teams motivated when faced with excessive manual and repetitive tasks and a high error rate is one of the most impactful challenges for a company.
Current employees are digital natives and seek the same experience they have with the most modern tools available on the market, in management systems.
Access to high-quality information in real time, integration between departments, and process automation are becoming motivating factors for teams.
With Oracle NetSuite, teams can complete tasks and access the most important information, removing departmental barriers and eliminating manual and repetitive processes. Leadership can clearly see where the gaps are and present the company with the necessary strategies, skills, and talent.
Conclusion
Running a growing company means facing a number of specific challenges. But it also means leveraging some major competitive advantages.
Speed, flexibility, and agility to change are hallmarks of the best-managed companies. Leveraging these capabilities is fundamental to overcoming any barrier to growth.
A business system should be an enabler, not a limiter, of your business goals and strategies.
If your company is experiencing rapid growth and facing challenges such as unreliable customer data, manual or disconnected processes, minimal visibility into operations for decision-making, the need to build a winning team, or keeping up with regulatory changes – now is the time to switch to a modern, cloud-based business management platform.
Migrating your company to Oracle NetSuite will make your operations more efficient and effective – which is essential for a growing organization.
Want to learn more about how Oracle NetSuite can help your company meet the challenges of today's market?
Consult one of our specialists and get your questions answered. We are available to help you make the best choice for the growth of your business.
