In the current environment a new normal of uncertainty has presented itself that is forcing organizations to adapt to new environments. Things are moving more remote, more web based, and now more than ever an organization’s ability to quickly adapt financial reports to assist with financing applications becomes a significant differentiator. Unprecedented is terminology that is thrown around often, but this time it feels justified, we are witness to unprecedented times.
How easy is it for you to determine the amount of service income to associate to the state the service was provided in? How hard is it for you to determine the amount of your on-hand inventory that was supplied domestically? Many organizations are facing challenges that their infrastructure and systems cannot accommodate. At the same time, organizations that use NetSuite are again realizing a fundamental element of the NetSuite value premise. Need to categorize vendors in a new way and run a report of purchase history with this new dimension? No problem. Need to move a traditionally in-person business online? NetSuite has a native eCommerce platform. Now more than ever the capability of a fully integrated cloud-based ERP is emphasized.
Are you using NetSuite and have some bandwidth, consider taking this time to continue to push your setup forward, a few suggestions?
If you are using the Bank Connectivity SuiteApp, go ahead and upgrade to the new Auto Bank Statement Import (ABSI) SuiteApp.
Finally, configure Customer Center access and start inviting your customers to interact directly with your NetSuite instance.
Consider implementing NetSuite Support for your company’s internal help response and HR inquiries. This setup can really help ease the transition to remote work.
Covid-19 is impacting business in a variety of ways, but almost universally, technical tool set that foster remote work and online collaboration are becoming necessary and the ability to grasp intelligence about your business and market is at a premium. Forbes provided the following cheat sheet for CEO’s post Covid-19 strategy,
Understand systemic risk and how it caused the pandemic. Systemic risk is about how a threat can jeopardize an entire system or systems. For example, many businesses have seen the systemic threat of cybersecurity risk significantly impact their entire business systems.
Anticipate the systemic changes being driven by COVID-19 and the events and opportunities that will change entire systems, including your business system.
Focus on how things work together as this drives systemic risk and changes in complex systems.
Focus first on the forces of change that have high levels of certainty and predictability on your markets and value propositions, e.g., economic, regulatory, digital, consumer behavior, competitive reaction.
Don’t ignore small, or micro-level changes. They often have an outsized impact on complex systems. Just ask the one person who first got infected with COVID-19.
https://www.forbes.com/sites/bobzukis/2020/03/30/a-ceo-cheatsheet-for-business-strategy-after-covid-19/#5be6e6e5330c
Essentially, this pandemic has pushed business technological and systems requirements and only by focusing on these risks can organizations best prepare for disruptions ahead. For NetSuite’s ERP solution this environment perfectly encapsulates the extended value. In simpler times we would highlight the system’s ability to grow with your business, but those same characteristics of configurability and scalability now apply to navigating the choppy waters of uncertain markets.
GSI recognizes the importance of delivering high value service that empowers organizations to adapt and excel in their new normal. Whether you need a report built, or you recognize the time for a new system is here, we are prepared with methodologies and best practice solutions to ensure you continue to thrive. Don’t hesitate to contact us if you think we can be of service, and otherwise stay safe and take care,
The GSI NetSuite Team