Small business owners will understand what we mean if we describe doing your accounts as one of those ‘put it off’ tasks. Keeping your books up to date can feel like a time-consuming chore that frankly gets in the way of more productive activities.
Finance and IT managers at larger companies are not immune to these feelings, either. Accounting is a data-heavy area of business operations, and time, effort and money has to be spent making sure the right figures can be accessed in the right place at the right time.
If you recognise feeling this way about accounting in your business, then it is time you thought about upgrading your accountancy software.
The problem with traditional accountancy software is that it is designed to function as a standalone system - as most legacy software used to be, in fact. Even market-leading solutions like Sage have never been very good at connecting to other business systems - you have to take the raw accounting data to them.
Once the data is collected and input, they are very good at what they do. But there is the sticking point, the effort required to pool the data in the first place. Siloed accounting software creates a very obvious bottleneck in your business operations, which quickly makes a very necessary task a daunting one.
The good news is that with the evolution of cloud based accounting software, this is becoming a thing of the past.
Imagine if you didn’t have to spend hours gathering up financial data from all over the business and then inputting it into your accounting platform. Imagine if all of that was done automatically, because your accounting software was integrated end-to-end with the rest of your business IT systems.
This is exactly what cloud based accounting solutions like NetSuite offer, and why they can help save your business time and money by making financial management more streamlined and efficient.
NetSuite can help your business achieve accounting automation because its financial management platform is fully integrated with its wider ERP solutions suite. With NetSuite, there are no silos, no bottlenecks, just the right data in the right place when you need it.
Combining ERP, CRM, sales and other business functions, NetSuite is built on the principle that data is most effective when it is shared across a business. It uses common databases and common platforms to link operations, automate workflows, and provide comprehensive business intelligence.
As an example of ERP accounting software, NetSuite understands what business owners and managers know - that accounts touch every part of a company’s operations. NetSuite provides the tools to treat accounting as a core activity rather than a standalone, separate entity, automating the heavy lifting data tasks so you can focus attention on effective management, intelligence and compliance.
What is more, there is no duplication of effort. Whether you want to generate tax returns, end-of-year accounts, revenue reports or work on your general ledger, everything is available in one place, with the same data resources available.
Switching your accounting to NetSuite will make your financial management more efficient and give you deeper insights to drive performance. As a NetSuite Solutions Provider, ERP Experts is a trusted partner for migrating accountancy services over to NetSuite, building customised solutions from NetSuite tools for every client. Contact our team today to learn more about how NetSuite can revolutionise your accounting.