Why should you Select NetSuite over Legacy Accounting Systems?
In today's fast-paced business world, companies need to rely on modern and comprehensive accounting systems to stay competitive. Traditional or legacy accounting systems can be limiting, time-consuming, and prone to errors, making it difficult for businesses to keep up with the rapidly changing market dynamics.
One of the drawbacks associated with legacy systems is that lack of actionable insights due to data silos. Furthermore, emerging technologies such as AI cannot be used to streamline data. Thus, fast-growing companies need a cloud-based accounting software that eliminate data silos and inefficiencies associated with disparate systems.
Among some of the reputed software, Oracle NetSuite has special place in the global market with 34,000+ global customers. In this blog, we’ll discuss why companies should select NetSuite over legacy accounting software.
What is NetSuite?
NetSuite is a modern suite of cloud-based business management applications. It is a comprehensive solution to streamline business processes, improve efficiency and productivity, and provide real-time data analytics.
With NetSuite accounting software, companies can manage their financial operations. It provides a comprehensive suite of accounting tools, including accounts payable and receivable, general ledger, billing, expense management, and financial reporting. NetSuite's accounting module is fully integrated with other modules, such as inventory management, order management, and purchasing, providing businesses with a complete end-to-end solution for managing their operations.
Top reasons to choose NetSuite over Legacy Accounting Systems
When your business expands, the amount of data generated increases as well. If your employees rely on manual data entry into spreadsheets and other outdated accounting tools, it can lead to decreased productivity and lower quality work. Additionally, manual processes are more susceptible to errors. By utilizing NetSuite Accounting Software, you can automate operations and processes while ensuring compliance management is strong.
NetSuite accounting software is also highly scalable, making it suitable for businesses of all sizes. Whether you're a small startup or a large enterprise, NetSuite can be tailored to your specific needs, and can grow with your business as it expands. You can start with accounting software and other modules, such as inventory management, order management, and purchasing.
3. Real-time Visibility:
NetSuite offers real-time visibility into financial data. Businesses can access up-to-date financial reports and dashboards. This enables businesses to make informed decisions based on accurate data, rather than relying on guesswork or outdated information.
4. Support Mobility:
Organizations can access their financial data from anywhere, at any time, using any device with an internet connection. This makes it easy for businesses with remote or distributed teams to collaborate and work together seamlessly.
NetSuite is highly customizable, allowing businesses to tailor the system to their unique needs. Legacy systems often have limited customization options, making it difficult to adapt to changing business requirements.
How can we help you?
If you’re struggling how to start with NetSuite, AGSuite can help you. We’re an authorized NetSuite implementation partner that can help you with consulting, licensing, implementation and support. Contact us for free consultation.