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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

Haya Solutions is Pleased to Announce its Partnership with Oracle-NetSuite

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Haya Solutions NetSuite Alliance Partner

As we are always committed to our customers to offer the state of the state-of-art and robust solutions; we have signed a partnership agreement with Oracle-NetSuite #1 Cloud ERP Worldwide.

Haya Solutions is Oracle-NetSuite Certified Alliance Partner since June 2018. By including Oracle-NetSuite to our offering portfolio; Haya can extend its scale of its customers to include Enterprise Businesses in addition to offer solutions to more sophisticated business processes.

Learn more ..