For thriving service companies, the right enterprise and business software can make all the difference between maintaining the status quo and scaling up to the next level.
Progressive and innovative service companies are looking to create new business models that disrupt the status quo. Here’s how they do it.
They are licensing their intellectual property and diversifying and expanding their revenue streams with new offerings and recurring revenue. They provide solutions, software and intellectual property on a subscription-based managed service. They are looking to extend and secure the lifecycle of that engagement through recurring revenue.
As a C-level officer of a service business, an industry-focused partner can help you mitigate and navigate the challenges facing your industry and prepare you for the future.
NetSuite can be that business partner.
What Is NetSuite?
NetSuite is the #1 cloud-based software solution for professional services organizations, big and small. Because all NetSuite solutions run in the cloud, your professional services firm gets support for the way your service teams work today—on the road, between meetings and on-the-fly—with online, offline and mobile access.
Because NetSuite allows you to manage all key business functions under one roof, we think of it this way: NetSuite is the final solution your organization will ever need.
What Does NetSuite Offer Service Companies?
NetSuite helps service companies seamlessly transition to the cloud while addressing the business challenges of finding new efficiencies, scaling and expanding the business with multiple revenue streams and streamlining operations.
The results are improved operational efficiency, greater visibility into the business, improved controls, proactive decision making, increased resource utilization, optimized revenue streams and increased profit margins.
What to Look for When You Hire a NetSuite Implementation Partner
Implementing an ERP system can be extremely disruptive. We understand that for an industry that is constantly striving to deliver prompt services, time is extremely valuable. You want a quick implementation and a clear timeline with key milestones to reach go-live.
Let’s review some things to look for in a NetSuite implementation partner.
Service Industry Experience
This might be stating the obvious, but look for a NetSuite partner that has experience and expertise in the service industry and a deep understanding of consulting and service companies, the challenges you face and the best practices to help you achieve an optimal state of operations.
NetSuite Expertise
Again, this is stating the obvious, but it needs to be said. Choose a NetSuite partner who has taken service businesses through the entire implementation process from start to finish.
Full Lifecycle Service Resources
Look for a partner who won’t disappear after the implementation is complete. A good NetSuite partner won’t leave you high and dry. Your partner should provide full lifecycle services—from implementation to troubleshooting, customization, continued training and ongoing support.
Software Features Every Service Business ERP System Should Have
Now that we’ve looked at some things to seek out in a NetSuite implementation partner, let’s consider just a few of the software features that make NetSuite such a good fit for service companies.
Consolidated Reporting Showcasing Your Most Successful Offerings
Consolidated reporting for service businesses is critical. NetSuite makes refining and generating these reports easy and efficient. NetSuite enables you to know how your business is performing so you can respond to market pressures. It’ll give you real-time views of tailored KPIs that enable you to manage by exception.
You need to know which offerings are working, which need improvement and which need to be phased out.
Resource Forecasting and Performance
Predicting resource requirements and performance can be as critical to service organizations as actual results, and often harder to measure. NetSuite can provide optimal resource forecasts, employee utilization and realization, and project profitability.
Customer Management System
NetSuite streamlines lead-to-cash! Its powerful capabilities include marketing automation, sales force automation and performance, and a 360-degree view of your customer service and support.
Need Help?
Our team has a deep bench of consultants with experience and expertise in both the service sector and NetSuite software. As a service provider ourselves, we have a deep understanding of consulting, the challenges you face and the best practices to help you transition to an optimal state of operations.
If you’d like to learn whether NetSuite could be a fit for your business, contact us online or give us a call at 410.685.5512 to schedule a demo.
