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Should Manufacturing Companies Invest In A Cloud-Based ERP?

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It isn’t uncommon for small and medium-sized manufacturing companies to use several different systems and applications to operate their business. Often, they will purchase new applications every time an issue occurs too, rather than simply upgrading their whole system, and these applications won’t all be integrated into one another. Over time, this results in their operating system becoming unnecessarily complicated and there’s a high chance that it will still lack the capabilities they need to improve day-to-day efficiency.

Understandably, manufacturing companies may be concerned about upgrading their software, whether this is due to the cost of doing so or the disruption that getting used to a new system can cause. However, it’s almost always worthwhile upgrading to a single, flexible, cloud-based Enterprise Resource Planning (ERP) system like NetSuite. An integrated ERP solution has several benefits and NetSuite can have a huge impact on your business processes.

Below we have looked into some of the biggest signs that you shouldn’t put off upgrading your outdated system to a modern cloud-based solution such as NetSuite.

Simple processes are very time-consuming

Using several different systems that aren’t compatible with one another can actually make simple processes much more complicated. Similarly, still using paper documents rather than digital solutions can result in straightforward tasks being needlessly time-consuming. If things like routine contract signatures can take days or even weeks, it’s a clear sign that your software needs updating. So many everyday processes can be made quicker and easier when you implement a new NetSuite ERP solution.

You don’t have access to real-time data

The majority of older-style systems will only provide data round-ups, whether this is on a weekly or monthly basis, and this often results in important decisions being made based on out-of-date data. One of the biggest NetSuite ERP benefits is that you have access to up-to-the-minute reporting and you can use real-time data to your advantage. Upgrading your business systems will enable you to make accurate business decisions and you can trust that the data you receive is current and accurate.

Paper documents are frequently misplaced

Paper-based documents like sales orders and invoicing are really common in the manufacturing industry, but this traditional way of working is now very dated. Not only do paper documents have a negative impact on the environment, but they get lost and damaged on a regular basis. Misplaced documents lead to a whole host of problems and if your employees spend more time looking for documents than carrying out important tasks, you need a new system.

As your manufacturing company grows, paper documents become more and more inconvenient too, especially when they’re kept at various locations. Cloud-based ERP software enables you to access documents wherever you are and you will have the information you need at your fingertips. NetSuite ERP also eliminates the need for document storage, so you can free up some much-needed floor space in your business premises.

Your stock levels are almost always wrong

If you’re frequently running out of stock in some locations or you have stock in places you didn’t know about, investing in new software is one of the best things you can do. Modern technology will give you complete visibility of the whole supply chain and you will always know how much stock you have in each and every location, making it easier to pre-empt stockouts. Real-time point-of-sales data will be incredibly useful too, helping to ensure you never sell stock you don’t have and preventing customer complaints.

Finance teams are snowed under with work

Standalone finance and accounting software is designed to assist with a very limited number of day-to-day tasks, and this can result in finance teams struggling to meet deadlines and deliver the data businesses need to make important decisions. When your finance team is overwhelmed, using a cloud-based ERP solution can transform the way they work. Not only can this software automate core accounting tasks and reduce the need for manual data entry, but it can reduce the number of applications finance teams use. NetSuite ERP is an all-encompassing solution that will streamline accounting processes.

Your technology is regularly breaking

The more complex your business systems and applications are, the higher the risk of breakdowns and if your technology isn’t reliable, it’s incredibly beneficial to upgrade to a cloud-based ERP. Simplifying your system infrastructure will automatically reduce the likelihood of system downtime and your essential software will be much more reliable. When compared to outdated solutions, modern technology doesn’t require as much maintenance either and you won’t have to worry about things like regular system updates.

Learning more about NetSuite ERP benefits

There is no denying that NetSuite ERP is beneficial for manufacturing companies and if you are currently using outdated software, upgrading to a cloud-based ERP solution will revolutionise what you do and how you do it.

If you’re still using outdated systems to run your manufacturing business, don’t ignore the signs. Moving to a cloud-based ERP system can not only transform and automate what you do and how, but it can help catapult your business to the next level.

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