Field Service Management System

Should Manufacturing Companies Invest In A Cloud-Based ERP?

Field Service Management System

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Below we have looked into some of the biggest signs that you shouldn’t put off upgrading your outdated system to a modern cloud-based solution such as NetSuite.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whether this is on a weekly or monthly basis, and this often results in important decisions being made based on out-of-date data.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.

We would love to learn more about your unique needs and answer any questions you may have. Get in touch with one of our ERP experts at:

A successful man is one who can lay a firm foundation.

Unlocking Stability and Growth with Advanced Construction ERP Solutions

In the construction industry, rising labour and material costs aren’t just temporary setbacks – they’re major threats to financial stability and profitability. According to the Construction Industry Federation’s Construction Outlook Survey for Q1, two-thirds of respondents in Ireland reported increased labour costs, and 60% saw a rise in raw material costs. With multiple projects on the go, a lack of visibility into actual profit and loss due to these escalations can spiral into uncontrolled margin erosion. 

Margin erosion happens when project costs exceed original estimates, but revenue stays fixed due to contract terms. This is becoming more common with volatile material costs and unpredictable labour availability. Traditional project management tools often can’t provide the real-time, actionable financial data needed across multiple contracts. 

John Coghlan, Director of FullClarity, puts it plainly: “In today’s fast-paced market, visibility is key. Without real-time insights into cost fluctuations and their impact on each project, companies are navigating blind. This jeopardises both project profitability and the overall financial health of the enterprise.” 

Leveraging Construction for NetSuite can clarify these challenges, aiding proactive decision-making and financial stability. 

The Power of Automation in Construction Management 

Automation is crucial in combating margin erosion. Automated Enterprise Resource Planning (ERP) systems provide real-time data analytics for quick, informed decisions. These systems track cost changes at the contract level and compile data across projects, offering a comprehensive view of financial health. Real-time insights allow for proactive adjustments to project management strategies, maintaining profitability and significantly reducing margin erosion. 

Integrated ERP Addresses the Challenges 

Systems like Oracle NetSuite connect seamlessly with Construction for NetSuite, and offer robust tools tailored to the industry’s needs. NetSuite provides a unified platform where all financial, customer, and project data is accessible 24/7 and always up-to-date. This allows for immediate adjustments in project management and procurement strategies, aligning them with current market conditions. Construction for NetSuite enhances this with construction-specific functionalities. 

The benefits of these integrated systems include:  

Real-Time Cost Monitoring: Project managers can instantly compare current and projected costs, allowing for swift interventions. 

Automated Alerts: Alerts for budget overruns or sudden material price increases ensure no cost escalation goes unnoticed. 

Enhanced Forecasting Tools: Improved data collection and analysis facilitate more accurate forecasting, helping firms avoid underquoting on future projects. 

Consolidated Financial Reporting: Integrated financial data lets firms quickly assess the profitability of individual projects or the entire portfolio. 

A Robust Cloud-Based Construction Management Solution 

Construction for NetSuite is a robust, cloud-based construction management solution built on Oracle NetSuite, the world’s #1 cloud ERP platform. Seamlessly integrated, it combines world-class accounting designed for construction with powerful job costing. This solution adjusts to your best practices while providing a “single source of truth” for making the best decisions. 

Built natively in NetSuite, Construction for NetSuite is 100% natively integrated with your existing NetSuite products. All activity is handled in real-time and with full visibility, offering a seamless experience. 

If you need accurate, up-to-date project reports on demand and wish your ERP system automated your processes, Construction for NetSuite is the groundbreaking cloud-based solution to help solve your issues. Our experts understand the unique challenges associated with managing a construction company and have crafted this solution with those challenges in mind. 

Embracing Advanced ERP Solutions for Future Success

OSSM’s partnership with NetSuite brings forward-thinking approaches to construction management, enabling companies tackle the problem of shrinking profit margins. In adopting smart construction systems, companies can manage today’s complexities and challenges while being prepared for the industry’s future changes. 

Rising labour and material costs don’t have to spell disaster for construction and fit-out companies. With strategic investments in ERP systems like Oracle NetSuite, firms can regain control over their margins and steer their projects toward profitability and success. This proactive approach to financial management in construction is a strategic advantage in the competitive industry landscape. 

Discover the Power of Construction for NetSuite – Download Our Brochure 

We’d love to share our brochure on this very topic. You’ll learn how Construction for NetSuite can track all your costs and analyse estimates in real-time, giving you better control of your project’s profitability.  

Download your copy here.  

About the Author

Picture of John Coghlan

John Coghlan

John Coghlan, Co-Founder and Director of FullClarity, has extensive experience in the building and construction industry. Growing up in the construction sector, he has a deep-rooted understanding of its intricacies. His expertise as a consultant is well-regarded in the industry.