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Knowing when your business is ERP Ready

Does it take longer to put to rights or patch up financials in the last quarter of the month? Are your sales forecasts based on guesswork rather than concrete numbers? Is your company struggling to maintain customer satisfaction, and is order volume stagnating? You also don’t know how much inventory you have in a warehouse, which is a pain to discover. If this looks like your company or close to it, then it might be the right time to think of an ERP system.

Learn more about when it is the right time to integrate an ERP system in your business in our webinar “Knowing When Your Business Is ERP Ready” with 

Gareth Potter – Sales Director (US & EU), Folio3

Oliver Bidwell – Product Account Executive, Oracle Netsuite.

Julien Koenig – SR. NetSuite Consultant (UK & EU), Folio3 

Tom Jeffry, Creative Director and Co-Founder, Wave Spas 

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We have penned down the highlights. For more details, you can also watch our complete webinar on-demand.  

Challenges Companies Face Without an ERP

1. Outgrown Legacy Products

Legacy products are software programs that were once in use but have been replaced by different products in the market. Their functionality is slow and primitive, and they frequently include a complicated, multi-tiered structure that results in siloed procedures, data, and disorganization. As a result, its maintenance requires documentation and a few guide work. If your company uses one of those, it’s high time you update your business with an agile and unified ERP system.

2. Inability to Scale

Let’s say you grow as a company in terms of business, revenue, and employees. Ultimately, you reach a point where an ERP system either provides added value or becomes a necessity. For example; Service departments can no longer plan on paper or Excel, and rental vehicles are too large to manage without a system. So, if you are scaling up, having the right ERP by your side is mandatory.  

3. Disconnected Routes To Market

Service-based organizations with disconnected and fragmented mediums to marketplaces struggle to drive growth. Delayed service, poor communication, and inadequate customer support all negatively impact customer satisfaction. Dissatisfied customers buy less and switch to competitors. Management should have end-to-end connections with e-commerce channels and marketplaces.

4. Lack of visibility and insights

Without an ERP, reports that could take days to study and compile now can be done only in minutes with the right ERP. Managing multiple databases, needing more real-time information, and better reporting lead to accurate decision-making. 

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What Problems Does An ERP Solve

·        It Automates Operational Processes which improves overall efficiency and productivity

·        Increased Warehouse efficiency – optimizes the put-away process and reduces picking errors

·        Gain inventory visibility, and monitor inventory levels. Minimize carrying costs, and deliver orders on time

·        Reduce risks and wasted time in data entry duplication

·        Simple management and connectivity to routes to marketplaces to enable growth

·        Supply Chain Optimization – control the flow of goods across the value chain, from suppliers to customer

·        Scalable local and international solution – provides you with tools and experience to set international goals and grow your business beyond the maximum. 

·        Flawless order management – error-proof order management and procurement

·        Holistic reporting on business insights and performance, a holistic source of all kinds of business data

·        A cloud-based SaaS platform that enables employee agility and connectivity anywhere.

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Benefits that B2B And B2C Gain From Oracle Netsuite

·        In-depth P&L Reporting with the latest data

·        Centralized interconnected transaction data, a single source of truth

·         Role-based dedicated dashboards

·        Full visibility of tasks

·        Seamless integration with Ecommerce channels via Folio3

To obtain more insights on why Wave Spas chose Netsuite Integration through Folio3 and to understand better the value and impacts of implementing an ERP System in your business to make processes future-proof, make informed decisions, and increase productivity, Watch the complete Webinar Here.

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