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The guide to migrating from Xero to NetSuite

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Products like Xero provide easy-to-use and inexpensive accounting functionality for both start-ups and small businesses. However, as companies begin to grow and prepare for the future, the limits of entry-level software packages may start to cause frustration.

Whether the complexity of manging your operations has increased, or you are looking to expand as a business, migrating from Xero to NetSuite could make your day-to-day lives a whole lot easier (and more efficient too).

Here you will find the differences between Xero and NetSuite, the benefits of migrating, and how you can achieve a successful migration.

The differences in Xero vs NetSuite

When it comes to accounting, Xero and NetSuite are very similar and provide full accounting capabilities. Accounts receivable and payable, invoicing and billing, expense tracking, integrated banking, tax managements, reconciliation, payroll, budgeting, and forecasting are all included with both solutions.

Although both Xero and NetSuite are ranked highly as online accounting solutions, their capacity and objectives differ. Xero aims to solve daily accounting in a single and easy-to-use platform, while NetSuite is part of an integrated ERP/CRM suite consisting of a wider range of services, such as:

  • Ecommerce
  • Project management
  • Business intelligence
  • Order management
  • Demand planning
  • Work orders

Given NetSuite can offer a wider range of services,  expert knowledge is recommended to implement the solution.

With help from an implementation specialist, you can achieve an efficient and effective solution for your business.

But before we jump into how a successful integration can be achieved, let’s look at the benefits moving from a dedicated accounting system to a full ERP solution can have on your business.

1. Flexibility with integrations

As a highly configurable cloud ERP solution, NetSuite is capable of integrating with many platforms and can be customised to the unique and dynamic needs of your company.

2. Automation

A key aspect of NetSuite is its capabilities to handle automated techniques. With enhanced automation facilities, you can eliminate manual processing errors, increase business performance, and simplify operations.

3. Business Intelligence

Using business intelligence, NetSuite offers real-time reporting and analytical tools to help you forecast and make data-driven decisions for your business.

4. Complete finance and accounting

NetSuite provides efficiencies to manage the processes associated with finances and accounting for increased performance attributes. Real-time financial management is also included to help your business manage financial transactions and data on a real-time basis.

5. Efficient business management

As a top ERP solution provider, NetSuite, along with the many add-ons available, gives you high-end capabilities to generate growth in several business operations.

6. Process Optimization

NetSuite helps to optimize the business process with its unified methodological approach to delivering the process in a significant manner. NetSuite delivers features to enhance process efficiency by suggesting optimized solutions.

7. Efficient Business Management

Being the world’s best cloud ERP solution provider, NetSuite owns capabilities to evoke higher-end business performance and effectiveness in managing overall business operations in a manner which contributes to business success and profitability.

Implementing NetSuite

When you are ready to make your commitment to NetSuite, there are various ways of going about your implementation.

For smaller, less demanding implementations, SuiteSuccess can be purchased and utilized for an out-of-the-box solution. SuiteSuccess delivers:

  • Pre-configured functionality based on leading practices for your industry
  • Pre-built dashboards
  • Pre-built roles, with software set-up based on job functions
  • Pre-built reporting
  • And more

For more complex, tailored solutions, bringing a specialist partner onboard will give your business the help and experience needed for a successful implementation.

But regardless of your decision, your entire implementation strategy will consist of planning and preparation, data migration, testing, and training, ready for your go-live date.

NetSuite Helps Online Retailer Cut Costs While Growing at 25% Yearly

“NetSuite’s integration has helped us streamline and organize the company so we don’t have to worry about growing the business.”

A Brief Affair

  • A Brief Affair is now growing at 25% per year, while saving $70,000 yearly over the cost of a comparable server-based system.
  • Integrated order processing saves $60,000 yearly over the previous system by reducing the company’s manual workload by 1 full-time equivalent.
  • Real-time inventory visibility saves another full-time equivalent, or about $50,000 yearly, over the previous system.
  • The company has cut order-to-cash cycle times from three days to just one day because NetSuite’s strong credit card verification features helped A Brief Affair negotiate better terms with credit card processors.
  • Real-time access to customer information helps customer-support staff handle queries on the spot, a competitive advantage for a high-end, customer-centric business like A Brief Affair.
  • NetSuite’s ability to track orders by product and country is helping the company grow international business by targeting promotions according to regional tastes and trends.

Customer Success

  • A home-based startup wanted to take advantage of the growth potential for marketing European and designer fashions and lingerie online.
  • Limited accounting software and manual order processing were unable to handle the expected growth in products and customers.
  • The company decided to integrate business processes rather than buying separate applications for CRM, shopping-cart, and credit-card processing.

Challenges

  • A home-based startup wanted to take advantage of the growth potential for marketing European and designer fashions and lingerie online.
  • Limited accounting software and manual order processing were unable to handle the expected growth in products and customers.
  • The company decided to integrate business processes rather than buying separate applications for CRM, shopping-cart, and credit-card processing.

Solution

  • NetSuite partner Business Solution Partners managed NetSuite’s implementation, configuration and training, and works with the company to turn on new functionality as appropriate.
  • NetSuite management dashboards display real-time KPIs for tracking everything from sales and inventory levels to website performance and customer satisfaction.
  • NetSuite delivers an automatic alert if an online order is disrupted so management can send a follow-up email to the customer.
  • NetSuite employs credit-card verification and other security functions via integrated tools from partner CyberSource Corp.

Looking to migrate from Xero to NetSuite?

If you are looking to migrate over to NetSuite and require assistance to assure a smooth project, contact our expert team at Haya Solutions Inc today. With over 25 years’ experience, we will work closely alongside you to provide a platform that allows your business to grow.

Get Free Quote

Oracle NetSuite The #1 Cloud ERP

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Oracle NetSuite Alliance Partner

Why Should You Choose NetSuite For Your Company?

As a small or medium size business owner, the first challenge you will face is how to manage your financial matters, supply chain management, human capital management with E-Commerce & retailing management if it was your business sector. With time and reliable growth in your business, initial software programs cannot help you to revise and manage your data. Oracle NetSuite will -certainly- be your smart solution. NetSuite was the program of choice for over 40,000 firms, 10 times further than another substitute with time and data capacity. Do you imagine how this can have a great impact on functionality and performance of your workflow?

It shows widespread functionality with industry-specific support for an extensive range of industries and business sectors. It means that NetSuite works to adapt with the method your business works. Built from the ground up for the cloud. NetSuite can also decrease costs and reduce hassle for IT so you can have a budget for extra items and enjoy an easy workflow.

  1. Usually when you start your business, you would choose initial programs like QuickBooks as a starter system. It really works for start-ups and small businesses but as your business needs change by time and growth, defects will start to show up.
  2. Time consuming is clear for the workers to put up their data manually. 
  3. Poor reporting system. 
  4. The need for appropriate data management.
  5. It works only with one currency.
  6. It can only cover basic inventory management. 

For inventory management, Quickbooks offers only basic inventory functionalities. For example, there is no serialized inventory tracking. Which could create actual problems in your supply chain monitoring and management? In this case finding a more professional and customized program is a must.

How can NetSuite make a tangible difference?

Offers an Advanced Inventory Management. A comprehensive warehouse management system with a 360° view of all operations supported by NetSuite. With real-time analytics along with serialized inventory tracking and real-time reporting, NetSuite provides full visibility. NetSuite also offers a module for demand planning that enables users to predict inventory changes based on past patterns and projected revenue forecasts. NetSuite provides a robust warehouse management system with a 360° view of all activities. NetSuite offers complete visibility with real-time analytics along with serialized inventory tracking and real-time reporting. NetSuite also provides a demand planning module that allows users to predict changes in inventory based on past trends and future sales forecasts.

Extra benefits NetSuite can offer more than Quickbooks :

  1. Subscription Billing
  2. Financial Planning & Analysis
  3. Production Management
  4. Warehouse & Fulfillment
  5. Demand Planning
  6. WIP & Routing
  7. Work Orders & Assemblies
  8. Shop Floor Control & BOM Maintenance

Enjoy the ease of managing your inventory of all items you need in one application only, while in the past multiple apps were needed. Where we handled time zone differences and location matters which enables you to take the right decision for your supply chain management .The choice lies between your hands, now.

 

5 Reasons Show How Can Mobile applications increase business revenue?

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  1.  A good app can make your business stand out. Adding value to your business through apps will gain you more market recognition. More people will like to be interested in using your app and finding information about your business.
  2. The main benefit of a custom mobile app is that it serves to enhance the customer relationship in a great way. Each update on the products and services will reach the customer fast and directly. With the app, the business can receive feedback on the products and services from the customer through the app and take appropriate steps to improve customer satisfaction.
  3. Data is gold and mobile apps can help in business expansion by collecting data on new prospects. This can be done with the help of forms and surveys in the app itself. Use this data, personalize your product and services. Your customer won’t turn back from you!
  4. Through your app, your prospects don’t have to type in a keyword in the search engine and look through the search results. Your app will take them directly to your site or lead them to the physical location of your business.
  5. Your mobile app development service can help with marketing. How? Well, you can push notifications about the latest events and promotional offers through the app. But, make sure you are not overdoing it!

Digital Transformation

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The due diligence of selecting a technology that fits your business is a challenge for most CEOs. It needs Business, Management, and Technology combined expertise. Our experienced and qualified team of professionals helped hundreds of business owners and CEOs in their digital transformation journey.
Learn More https://landing.hayasolutions.com/digitaltransformation/

Why do SaaS start-ups fail?

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Since the Software as a Service (SaaS) business is extremely dependent on the software; in case the software fails, the business would fail too. Many start-ups reach out to software development companies requesting a SaaS Web and/or Mobile Application. Most of these start-ups’ CEOs do not have a detailed scope and they depend on the development firm to help them create the scope of work based on their experience. On the other hand, most software firms need a documented and detailed requirement to estimate the efforts and develop the application.

Due to this conflict in both parties’ expectations, the software firms generate a quick estimate to close the deal and they do not fully understand the exact scope of work. That will lead to extended timelines due to many change orders or the CEO may have to change the software firm in the middle of the project, and both options are extremely costly. Many times, to avoid going over budget and losing the investors’ trust; the CEOs accept the application that does not match the business idea, and therefore it will not be aligned with the business’s value proposition, business model, or meet the business goals and objectives.

Choosing a software firm that can analyze the business case and develop the requirements with the start-up CEO is key. These software firms must have strong business and technical teams working together and both teams must have experience in the SaaS business and software industry.

Haya Solutions Inc. is one of these companies since they combine their MBA Business Consultants efforts with Certified Business and Technical Analysts, Project Managers, and Developers to ensure the success of the SaaS start-up. Haya’s successful rate of the SaaS projects is 100% accomplished for 100% successful SaaS business models.

If you think to start a SaaS business, contact us to discuss your idea today.

Why your business needs Zoho Analytics

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Richard Vidgen and his co-authors Samuel N. Kirshner and Felix Tan said: “A key aspect of business analytics is that it is part of an organizational change and transformation initiative to move the enterprise towards being data-driven – a situation where decisions are routinely taken on the basis of data and evidence rather than that of the ‘Hippos’ (highest paid person’s opinion). Change of this order does not take place purely bottom-up and it certainly does not happen through technology investments alone – it needs senior management will and support”.

Businesses of all types and sizes can benefit greatly from the recent advances in business intelligence platforms. BI platforms, such as Zoho Analytics give business executives the tools to collect and analyze data and gather valuable insights to improve business operations and profitability.

From our experience with several clients, who implemented Zoho Analytics, we have seen how the insights gained helped in the decision-making process and connecting different data sources and modelling business strategies. With our expertise in implementing Zoho products, we helped our clients to build custom queries and reports according to their changing needs.

As Zoho Analytics includes highly customizable tools, we managed to use it as a data warehouse with one of our clients who needed to connect different departments using different systems. This a common case with several clients, who established their business operations/ units as silos. In such cases, one of our solutions is to create a user-friendly interface embedded in a website taking advantage of the customizable tables and charts. 

One of the important features of Zoho Analytics is that it is user-friendly, this allows all the employees in the company or the organization of different technical background and varying skill levels to use the tools, access and analyse data and build their insights and reports. The visual representation of the data and the different dashboards included makes understanding and interpreting the information easier and beneficial in improving the business processes.

Business analytics are weaved in Business Intelligence (BI), which is defined as: “a set of processes and technologies that convert data into meaningful and useful information for business purposes”. So, implementing an easy to use, yet powerful reporting software is crucial to maintain the health and sustainability of the business. At the beginning of any implementation project, it is expected to spend several hours setting up and establish the applications, customizing the reporting tools and data entry. However, once the implementation and set up phase is done, data will be useful and once new data is added, all the reports update. The sharing and drag and drop functionalities are amazing tools for all employees to share actionable insights and dashboards with other employees and management teams according to access authorization levels. In addition, incorporating excel sheets and historic data into the system is an easy and quick task, in addition to many other automated options and drill down.

We are in favour of the professional, visually pleasing dashboard and the capabilities to import data from different file formats. Teams can design and customize their reports.