A typical comparison between Acumatica and NetSuite shows that  Acumatica is less pricey than NetSuite. In the beginning, it appears that way, but there are underlying costs that usually will keep Your Business thinking whether it made the right choice. In the next few sections, you will learn about some hidden charges, hence a clear understanding of making an informed comparison between these two platforms. But first, here are some few facts.

1. NetSuite offered its first stock on the year Acumatica was started.
2. EQT Partners, Acumatica’s parent company, is a NetSuite client
3. One of the heads of Acumatica once described the company as a rambunctious teenager. Is it okay to trust something described as rowdy in the future?
4. No pre-configured instances on Acumatica, meaning Time to Value will take longer than on NetSuite
5. 50+ customers of NetSuite have IPO’s from 2014, unlike ZERO of them from Acumatica since Jan 2020

Acumatica Could Derail the Growth of Your Enterprise

The money you pay at the initial moment of purchase could trick you that Acumatica is relatively cost-effective. You may also admire its offer for unlimited users. The truth is that this ERP solution’s pricing model is more transactional. As Your Business grows, you will start feeling the heat considering that you will pay more for the significant thresholds.

You will not be happy when you have to pay more for licensing and performance when your retail business scales from hundreds to thousands, and so on. Your cost to revenue ratio will be absurd. Considering your business is on a growing path, you will not like it when a service you paid for is still consuming from your growth in a less admirable manner.

With Acumatica’s accounting system, you cannot count on productivity, efficiency, accuracy, and visibility. This is because the batch processes and process updates come from particular moments and not real-time.

Acumatica is limited in its functionality. The reason is that Acumatica is not integrated with apps, third-party software, and middleware. Therefore, you have to invest in the above products separately for other necessary activities. For example, there is no eCommerce resource. In case you wish to customize anything, it will break because of compatibility.

What about NetSuite?

On the other side, NetSuite trades for a flat-rate, a good deal to allow Your Business to grow. You will not have to pay as you gain more clients as on Acumatica because there is a lower cost-to-revenue ratio as your enterprise grows. Besides. the pricing is also predictable, something that many growing businesses will love.

Another benefit of NetSuite is that you will get real-time customer reports, KPIs, and dashboards, among other things in one platform. A simple glance gives you an overview of the business status.

Lastly, NetSuite is a whole integration business management suite with in-built ERP, eCommerce, HCM, purpose-based models, and CRM. No middlewares! Any customizations or integrations will be carried forward to your latest version, with the customizations remaining for diverse subsidiaries.

Acumatica’s Licensing or NetSuite’s Cloud Solution? Which Solutions is Worth It?

In Acumatica, you will find variety of licensing software options, namely:

• On-premise or hosted license (private cloud license)
• Software as a Service(SaaS) subscription
• Private cloud subscription

It is always good to have options, but choosing one premium from another comes with limitations to what you access in every product.

There is a need for Acumatica to make a commitment to maintain and continue supporting the three versions. However, the responsibility needs to include the premiums having different tolerances to risk, support requirements, and upgrade cycles.

Also, it relies hugely on VARs, considering the distrusted nature of VAR’s expertise when it comes to customer support or implementing any of Acumatica’s license options.

From a resource and financial view, an on-premise cloud solution that is hosted or hybrid needs non-starters for enterprises. These solutions only support a single customer, and the implementation timelines are lengthy and costly; clients experience version locks, upgrades and management require dedicated IT resources.

Moreover, the upgrades primarily include the redeployment of systems across individual machines, re-implementing various customizations and integrations of pre-existing designs as well as server hardware and storage requirements.

All that said, NetSuite remains the original true cloud ERP solution. The first thing is that NetSuite is multi-tenant because every customer on the platform could make configurations and customizations of preference. As a NetSuite true cloud solutions customer, you are going to experience some benefits as follows:

• Quicker and cost-friendly implementations
• Lesser maintenance needs for hosted IT structure
• Perfect upgrades that allow you to carry forward previous and favorite customizations and integrations
• Anywhere access
• No storage and hardware costs

Acumatica vs NetSuite: Which Way to Go?

Well, Acumatica implementation is similar to starting again. This nature of doing things leaves your customers affected by the shoddy shortcuts and VAR implementation.

The thing is, Acumatica does not have standard industry practices, lacks pre-configured instances, lacks use cases, or bundles catered to industries.

The start afresh approach is time-wasting, considering that the implementation could take long and extra costs in case of mistakes occurring after that.

Also, value-Added Resellers handle implementations on behalf of Acumatica because the company lacks dedicated account management practice. You will have to rely on these implementation partners (VARs) and built-for-Acumatica solutions to resolve any issues. The worst bit is that reaching Acumatica’s in-house support is only possible when you haven’t succeeded in accessing the VARs.

On the other hand, there are more NetSuite implementations. One includes SuiteSuccess that eases deployment for customers across multiple industries regardless of their market segment. Customers could go live in as low as 100 days. SuiteSuccess includes Starter, Emerging, Midmarket, and Corporate.

Besides, the additional options of implementation on NetSuite, there are industry-specific bundles, 100+ pre-defined leading business process flows, and customized reports created with real-world best practices.

Conclusion

NetSuite will supplement the vendor resources in case you need them. It follows a particular timeline of implementation, allowing customers to access excellent services. Therefore, you can save a lot of money from the expenses, customizations, and middleware required for Acumatica by choosing NetSuite (an excellent and proven ERP solution).

Before you make your decision, contact us at hello@seibertconsulting.com or 760-205-5251 and we will help you make informed choice.

The post Acumatica vs NetSuite: The Underlying Costs of Acumatica’s ERP appeared first on Seibert Consulting Group.

When dealing with connectors and integration as a service technology, it is important to understand that your data, and the quality of your data, can only be assured by the quality of the connector technology and the reliability of the data sinking and normalization functionalities provided by that software. It helps to have companies backing that technology that have the greatest budget for items such as research and development, and Oracle NetSuite and Bronto fit the bill. It is important to work with well-resourced and well financed companies that cannot only afford the research and development dollars for new features but can also provide adequate service level agreements for technical support and maintenance of existing implementations.

Again, here Oracle | Bronto really shines, and you will appreciate that level of service and reliability as a Shopify or Shopify Plus merchant, because that is the level of reliability and service to which you been accustomed. Less mature applications in the ESP, or email service provider marketplace, may be able to provide the same basic functionality as Oracle | Bronto, but without the ability to ensure the quality of that data, and the completeness of the field sets that are provided, it will be impossible to provide all of the transaction and product database based use cases and functions that a robust ESP like Bronto can provide.

2) Oracle | Bronto is supported by Oracle | NetSuite:

As previously stated, Oracle after the acquisition of NetSuite Bronto as provided Bronto with not just an expanded marketplace of applications and integrations but has also resulted in major capital expenditure investments in number and capability of data centers and cloud infrastructure. This results in higher deliverability rates and more trouble-free sending on Oracle owned cloud infrastructure. In terms of email deliverability, a business is entitled to the service level that an enterprise pays for, and with the investment in the Oracle cloud infrastructure, the ROI that can be expected is secured.

3) Oracle | Bronto is robust and mature as an ESP, perfect for Shopify or Shopify Plus:

Bronto has been around in the ESP, or email service provider, marketplace for quite some time. The product is and never was as well-known as its lower end competitors such as MailChimp and get response, however that has as much to do with Bronto’s traditional focus on midmarket clients as it has to do with any particular marketplace focus that has been ascribed to the software by Oracle since the acquisition. Simply put, Bronto has always been an ESP that is tailored for the segmentation and transaction-based account servicing emails that are the bread-and-butter of effective marketing and customer relationship management operations for small and medium-size, midmarket businesses. Bronto excels in this, not only with their training and feature set, but also with the architecture and user experience baked into the product management decisions of the product. As a mature email service provider application, Bronto is feature complete, and they are pretty bill configurations and automated workflows that are readily available within the product for the most used communication sequences for midmarket companies.

4) Oracle | Bronto has advanced segmentation for Shopify and Shopify Plus merchants:

Segmentation, or the ability to separate out customers into various behavioral, transactional, or demographic awards, is an advanced capability that enables much more sophisticated and targeted promotions and prospecting using an email service provider such as Bronto. Again, Oracle | Bronto provides these workflows as preconfigured templates that enable small and midmarket enterprises to get up to speed quickly and to create DIY, or do-it-yourself, email and you GC, or user generated content, sequences quickly and easily.

Advanced segmentation is what separates the feature set of Oracle | Bronto from the lower end products in the email service provider marketplace. Today’s merchants, in both business to consumer and business-to-business use cases, are demanding the ability to present customize, the spoke user experiences that are tailored for the persona or demographic profile of each individual web customer. The only way to effectively provide this type of functionality is with the advanced customer segmentation options that Oracle | Bronto can provide.

5) Oracle | Bronto provides transactional emails for Shopify or Shopify Plus merchants:

Transactional emails are emails that are based upon actions that a web store user has taken, represented by transactions or purchases online. Transactional emails can also take the form of automated sequences such as brows or cart abandonment sequences. These types of account servicing emails typically enjoy very high open rates for emails, with many of our Siebert can group clients using Oracle | Bronto seen open rates of up to 33 times higher than the open rates typically experienced for regular non-segmented emails.

Transactional emails such as event promo reminders enjoy 50 to 60% higher open rates than standard emails, thus validating the efficacy of leveraging customer segmentation in your outbound email marketing efforts for e-commerce. The welcome series that can be easily configured via preset templates in any Oracle | Bronto implementation is an automated sequence that welcomes a new web store customer to your store into your brand. The welcome sequence can contain several emails sent over a predetermined and preset set of intervals that can encourage and engender a natural conversation flow via web store customers primary communication channel, email.

Using this functionality to segment messages to hire pain high-end customers that may be interested in purchasing more expensive higher end items Oracle | Bronto customers can typically enjoy 21% click through rates for appropriately targeted promotions and offers, several times above the accepted industry norms. The ability for Oracle | Bronto to connect natively with a merchants Shopify or Shopify Plus customers and web store product database, utilizing NetSuite connector technology is what can allow detailed and targeted transactional emails from Shopify or Shopify Plus using Oracle | Bronto.

6) Mating Bronto with Shopify future proofs your web store:

By adopting leading cloud-based technology such as both Shopify or Shopify Plus e-commerce along with Oracle | Bronto email marketing, a business to business or business to consumer web merchant has not “wall themselves off” from future systems integration or scalability. A Shopify or Shopify Plus implementation that is mated with Oracle | Bronto, for instance, is a perfect candidate for combining with a ERP such as Oracle NetSuite.

This combination would result in near native functionality for all major e-commerce and enterprise resource planning functions and possible integrations. The ability to have “one throat to choke” is also an important consideration for many merchants. Contract renewals and new customer discounts can be leveraged to maximum effect when the majority of a merchant’s IT expenditure budget is focused on a vendor such as Oracle. Even if integrating with another ERP or other system such as Microsoft Dynamics 365 or Sage accounting, or even if a merchant adopts the single use software model, there is maximum stability afforded to merchants that decide to adopt Oracle | Bronto as the ESP, or email service provider to go along with the air Shopify or Shopify Plus web store.

As you can see from the reasons listed above, Oracle | Bronto is the perfect addition to any merchants Shopify or Shopify Plus web store implementation Oracle | Bronto provides a constellation of capabilities that may not be as immediately evident to a B2C or B2B merchant as email marketing. User generated content, or you GC, is an increasingly important functionality in today’s social media influencer driven e-commerce marketplaces.

Oracle | Bronto also features native connectors such as the social bridge to loyalty programs such as Annex cloud and other major service providers. Oracle | Bronto also nearly uniquely amongst the email service providers in the Shopify or Shopify Plus marketplace can interface at different levels of a merchant’s software stack, or infrastructure. For example, and Oracle | Bronto implementation can access records in both the Shopify and Shopify plus web stores and records at the e-commerce web store level, but also at the ERP “one system of truth” level.

With dozens of Shopify and Shopify Plus web store implementations under our belts, along with our expertise in custom themes and applications for the Shopify platform, the Seibert Consulting Group has a long history of working with our eCommerce Clients on Shopify Plus projects. We can show you how to source and list products from your Shopify or Shopify Plus web store, or how to provide your own brand’s DTC products in a customized theme for Shopify or Shopify Plus that is reflective of your company’s story and values.

To find out more about Shopify or Shopify Plus solutions for your business, find out more about the Private Shopify & Shopify Plus Apps offered by the Seibert Consulting Group like Dropified, Celigo, Optimize Upsell, or to set up a free demo of the Shopify or Shopify Plus eCommerce platform, please contact the Seibert Consulting Group at 760-205-5251 or email the SCG team at hello@seibertconsulting.com.

The post Six Reasons why Oracle | Bronto Marketing Cloud is a Perfect Match for Your Shopify or Shopify Plus eCommerce Web Store appeared first on Seibert Consulting Group.

Whether you sell to businesses or individual customers, you must have a business platform that aligns with the way your business grows. Moreover, it should be an ERP platform offering a personalized and unified customer experience, making the business efficient at its front-end as well as its back-end. But which platform has these capabilities altogether in one software-as-a-service in the cloud? Well, NetSuite ERP is one of the primary ways automotive retailers and distributors can use to track and sell their parts in the cloud and online. If you’re asking, “how good is NetSuite ERP for Auto Parts retail business?” Well, here in this article we will describe some of the main features of the NetSuite ERP software that make it an excellent choice for your auto parts businesses’ ERP financial foundation:

1. NetSuite ERP provides an easy multi-channel experience

The B2B and B2C customers of today have all the control and come with great expectations for unique customer experiences. For example, they want to learn about what you have in your auto parts retail or distributor store on their PCs from their homes or workplaces, then follow it up with a physical pickup. So-called “Buy online pickup in-store” options have become standard for most online bricks-and-mortar eCommerce operations in the automotive parts industry.

What does this mean? The answer is, the customer is now looking for a better experience while shopping. But how does this concern NetSuite ERP? Well, NetSuite offers customers a more custom experience across any channel they shop with, all these depending on the likes and habits of the customer. That’s not all. You can even ensure the method and details of the products and services delivery to ensure customers are satisfied hence you can enhance the customer experience at all steps of the buying journey as well as bring in more sales.

2. NetSuite ERP provides a full perception of your Businesses Customers

As mentioned above, there can be a massive difference in what the customer experiences when shopping through various channels with an omnichannel business with online and in-store or telephone call-in purchasing options. Do you know that you can make the experience uniform across those many channels? Well, NetSuite ERP along with SuiteCommerce e-commerce monitors customer engagement and behavior as they shop at your online store or through any other channel. With this shopping data, merchants get to create a uniformly impressive eCommerce experience. Note that any time you make an improvement in your business that is customer-centered, customers always notice, and that increases customer lifetime value and average order size.

A personalized experience also means that with NetSuite ERP you can now offer better customer service. Then, you can take advantage of cloud-based data integration to reduce callback response times to inquiries and product returns. What this implies is, customers can be more easily satisfied and merchants can gain vital enhanced customer satisfaction and loyalty to their brands.

3. NetSuite ERP provides Real-time inventory visibility

It is wrong for your site to indicate that it is selling as in stock when in fact something is out of stock. Having a system that updates inventory records in real-time can make a difference in your business and your customer’s perceptions of it — and NetSuite ERP helps with that in a big way.

This means that when someone buys your product, the displayed inventory stock numbers reduce on the web-store automatically. Suppose your automotive parts products are almost out of stock, then your site can now indicate how much parts inventory on your store remains in stock, truly. Once the online web store’s inventory has been depleted, the site will then suggest that the automotive parts in question are not in stock automatically. An automatic back-in-stock notification can be generated via a script, and the customer can then be informed as soon the item stock level returns to par value.

The important and vital concept here is not just better and more efficient management of inventory but rather more efficient management of the entire Enterprises business operations. The managing of automobile parts and their inventory levels is of course a paramount concern, but it is important to note that with NetSuite ERP, an automotive parts distribution or retail business now has access to myriad forms of data about every part including where it is housed, warehoused and stored, how it is purchased, from whom, when and for how much. It takes a “system of truth” such as NetSuite ERP in order to ensure the accurate and sophisticated display of information about the stock availability of the automotive product in question. Why is this important? It will be bad for your reputation in the event someone places an order with your automobile parts distribution or retail shop and even pays for it to be notified only later that the vital automotive parts they need is not available.

Moreover, this kind of information is essential for other functional business units within your company, like shipment, refunds, sales, and returns. This allows all the departments to have uniform knowledge of how the business is doing. For this very reason, NetSuite ERP is frequently referred to as the “system of record”, or the “system of truth”. There is one system that holds all of the vital information for your business’s operations, in one place, easily accessible in the cloud anytime, anywhere, from any resource that has the permissions and authorizations to access that data.

4. NetSuite ERP provides Better management of orders

Automobile parts can be large and it could take more than a week to get a product to a customer in certain situations. However, what if you could do it in a shorter period like two or three days. That could create a big positive impression on your customer about your automotive parts distribution or retail store. Well, that’s what NetSuite ERP can do for any auto parts business. First, orders are entered and completed quicker, resulting in demand to cash cycles that are much more efficient, and fulfillment and shipping costs are greatly reduced.

How does NetSuite ERP attain all these business benefits? The NetSuite ERP solution removes any obstacles that could slow the ordering process. Secondly, errors made by your order entry staff during ordering are reduced by the ease of use and uniform user interface for functions like order entry, as well as software as a service cloud availability to prevent slowing down the fulfillment of an order. Lastly, invoices and payments processes are streamlined considering the customer will get one invoice, although they are getting products from more than one location. And of course all of this information resides in the “one system of truth”, your automotive parts distribution or retail businesses NetSuite ERP system.

5. NetSuite ERP Makes Back-End processes more Efficient

NetSuite ERP ensures that you can run your automobile parts distribution or retail business from a single place by allowing you to connect your ERP with your eCommerce store. All back-end processes, including merchant services, multi-currency management, multi-site and multi-book financials, subsidiary management, and marketing. All of this streamlining of processes is possible using NetSuite’s SuiteCommerce or SuiteCommerce Advanced e-commerce solutions from the Seibert Consulting Group.

SuiteCommerce is a great choice to align your automotive parts or distribution business processes, improve your auto parts customers’ experience, and grow your sales channels and automotive parts brand.

Furthermore, it will ensure that you can manage inventory cycle counts, inventory refreshes and improve communication and customer experiences for your auto parts customers. NetSuite ERP makes your business more flexible as well as more efficient and more responsive.

You may have NetSuite ERP or considered it in the past, but it takes a skilled, NetSuite Veteran team to implement NetSuite ERP and maintain it correctly. We here at the Seibert Consulting Group can help with that, as an Official Oracle | NetSuite Solution Provider Partner. We are aware of what your business requires in order to make your automobile parts business an online success. Contact us, and we will be happy to assist.

To find out more about NetSuite ERP for your auto parts business, or to find out more about the Auto Parts SuiteSuccess edition for auto parts retailers and distributors offered by the Seibert Consulting Group, or to set up a free demo of the NetSuite ERP platform, please contact the Seibert Consulting Group at 760-205-5251 or email the SCG Team at hello@seibertconsulting.com

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The truth of the matter is that although the internet promises a lot of success, multiple retailers lack the structures to shift to online stores. Coincidentally, NetSuite has the AI drive and the cloud-capability to allow your anxious health and beauty to move online and make some huge steps. Not leaving behind those that have always been using ERP solutions.

One reason could be the fact that NetSuite is a three in one cloud ERP solution with multiple powerful solutions that offer the customer multiple purchase options. To a large extent, NetSuite is a threat to lazy competitors, considering it offers CRM, e-commerce, and accounting, all at the same time in one cloud system.

Also, NetSuite offers you the chance to express your business uniquely, given its customizability.  The chances of a business surviving online with cloud solutions like NetSuite are higher, considering the experiences these solutions offer.

1. Knowing your customers is the Key to DTC success with today’s social media and influencer -driven web shopper

Most customers have expectations that beauty and health businesses offer engaging client experience. Using NetSuite’s CRM 360-degree view of a customer’s ongoing allows you to improve sales and offer customers a more personalized experience. Moreover, to create more custom products for the client and market those features in a more customized way.

2. eCommerce is Exploding in the age of COVID – Now is the Time to Capitalize on this Marketplace Opportunity

Considering the unpredictability of whether the COVID pandemic could end, people are staying in their houses. Buying online is the only option. With NetSuite commerce capabilities, you can develop good experiences for the shopper, such as discount codes and promos that fit the customer’s needs.

3. NetSuite ERP is a SaaS, 100% Cloud storage ERP and eCommerce System

With cloud storage, you do not have to go through the hassle of physical storage options. Cloud storage allows you to create, store, and access data on the cloud at any place.

4. NetSuite ERP & SuiteCommerce B2C eCommerce affords your organization 100% Efficiency with Live Data

NetSuite offers you real-time status reports, and KPIs allow you to make more informed business choices. For efficiency, NetSuite shows the gains and the costs of running a business allowing you to eliminate risk and run your business more efficiently.

5. Integrated NetSuite ERP & SuiteCommerce eCommerce is a visionary approach for your brand

Customers are always on the lookout for value from you. You need to create products that offer value. NetSuite diagnoses your business for issues that need improvement, allowing you to offer value to customers and making them loyal and connected to your business.

6. Work with NetSuite ERP & SuiteCommerce eCommerce Professionals

You need a team of individuals that can execute your vision. With NetSuite ERP and SuiteCommerce Solutions from the Seibert Consulting Group, you will have a dedicated team of capable individuals who can carry out tasks on the platform and implement them correctly to get your business to the desired point.

In conclusion, managing an enterprise to success is something you may want to achieve. Having the right team and partner can help you with that. Therefore, contact us at the Seibert Consulting Group SCG team  today, and let’s get started.

The post Six Reasons to Choose NetSuite SuiteCommerce eCommerce For Your Health & Beauty Brand appeared first on Seibert Consulting Group.

But first, let’s assess the reasons why this financial close is not an exciting task anymore.

If your company uses NetSuite products, then the accounting process will be much easier and faster. However, there is only a limited number of things that NetSuite can handle. The rest, such as recording and tracking of the workflow, are beyond the reach of NetSuite. To make matters worse, communication between your company and NetSuite is broken only, resulting in the lack of openness and uglier process of recording of information.

Your company may most certainly not notice this problem because it lingers and becomes a regular occurrence. The outcome is that information available at the end of the month is scanty.

Another reason why financial close is less impressive is that the sharing of files over the local drive has been disorderly. Also, no procedure is recorded. Further, the fast-paced environment of the workplace has led to no one minding about the information.

The result has been a change of perception of the accountants. For them, the close refers to long hours of working to put everything in order. Most report that the closing process brings them more stress, with a third of this population saying that it also impacts their intimate relationships.

So what can your company do to alleviate the stress of its financial management employees, corporate controllers, and CFOs?

What to Do To Alleviate Stress

The monthly closing has had some bad effects on the employees, which most certainly calls for eliminating the process and adopting these five month-end closing hacks on NetSuite:

1. Your Collaborative Financial Close Checklist

The Financial Close Checklist monitors the roles and performances of employees, making them aware of the impact of their position on the company’s overall goal. For example, each individual will be aware of what they need to do. On the other side, leaders will have an idea of the possible limitations to goals set for employees.

At first, you may think your company could have gotten all the above from NetSuite’s End Close Checklist, but it is a misbelief, and any NetSuite Admin or IT guy needs to do some digging. For example, think of the NetSuite OOTB Checklist as a 30,000-foot view allowing you to select a box next to AP. It is obvious to most accountants because checking the box means that every other task has to be completed.

Excel and Google Docs could easily track sign-offs and tasks, but this process would be challenging for a new team.  Noteworthy, Seibert Consulting Group has NetSuite capabilities that could easily service the other accounting teams in the mid-market.

For example, Stack Overflow saw the potential in the checklist. The training and networking company used the structure of this collaborative checklist to create a better close list considering they previously used a soft-close system that was quite skeletal. Their new close list had timelines, controls, clearly defined processes that smoothed the closing process, cutting the monthly by twelve days. Previously, they closed after 22 days, now with only ten days.

2. Create more standard folder structures and reconciliation templates

Having a standard template allows you to make the review, training, reconciliation, and auditing processes sleek. All you need to do is to paste work on a template automatically, avoiding any repetitions. Further, it is easy to access and file because your company has now developed a more organized folder design.

Therefore, your accounts department needs to pay a closer look at NetSuite’s Fixed Assets and Bank Reconciliation Module for any huge transactions that require clearance. By automation this process of reconciliation, you can reduce by half time spent on the reconciliation of large accounts.

By the way, you just read this and started asking questions such as how we automate Sub Ledgers, clear Account Matches, and other items with robust transactions, then you may find FloQast tools more helpful.

3. Examine the mix of your talent again.

Tech is taking over accounting and finance processes. Therefore, you need to shift to people that can make the most use of technology, first, by employing someone who is technology-adept. Also, watch out for employees with NetSuite or Cloud ERP and with a belief of the impact of tech in providing efficiency.

4. Adopt cloud accounting technology

Cloud platforms adoption can turn around the way your company stores data. Access to data will be more comfortable and quicker. Moreover, you don’t need to worry about the state of documents, considering they are already online and more transparent.

You can start cloud accounting technology by having a Microsoft checklist on Microsoft’s OneDrive or SharePoint. The use of a close management software solution for monitoring review notes, reconciliations, and check the listing of items like RevLocal.

There is no doubt in what NetSuite ERP can do to transform your company’s month-end close processes. It can do Accounts Payable and Receivables, bank reconciliations, and revenue recognition. However, your accounting team has to do things like tracking workflow and documentation.

There is a lot your company could benefit from a streamlined month-end close process on NetSuite ERP. For instance, if your company uses cloud accounting tech, the close process will reduce by about three days. The result is a happier corporate finance team and quicker closing of the books.

The post Five NetSuite ERP Month-End Close Tricks appeared first on Seibert Consulting Group.

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In my personal and professional opinion, Consultants alongside unqualified managing partners – in addition to what I would term professional missteps in project conduct or technical architecture – have at certain critical junctures during ERP implementation projects adversely affected my clients. This is one of the major reasons why I decided to set up the Seibert Consulting Group. But my experiences in the ERP marketplace have informed my formulation of the questions and tips regarding the vetting of your ERP consultants you will find below.

Perhaps the takeaway is that you can avoid making these same mistakes by posing the right questions to a potential partner, in addition to adequately vetting them before you make the all-important decision of trusting the future of your Business to them.

1. Are You Actually Independent?

With the plethora of disparate technologies available as a part of your digital transformation, it is crucial to ensure that your ERP consultants are genuinely independent. You need to know exactly whether they are resellers or partners of software vendors, or if they are affiliated with other similar companies that may divide their loyalty. Again, you will want to be sure that your comparison of Oracle | NetSuite ERP or Oracle Cloud vs SAP S/4HANA vs Microsoft Dynamics 365 vs any other ERP system is impartial and not being fueled by hidden monetary motives.

2. How Much Hands-on Implementation Experience Does Your Consultant Have?

I firmly believe that academic consultants aren’t of much value to any business. Some of the best hands I’ve seen on the job are those that can combine theory with real hands-on implementation experience. Verify that your potential and current consultants have actually implemented several technologies in the past.

3. What Level of Dedication Will Your Managing Partners Offer – And Do They Know What Consulting Entails?

You need to be guaranteed that your project and organization will remain at the top of the priority list of your consulting firm. Be sure that you have complete trust in their background and ability to further your project – particularly when difficulties start to arise.

4. How Much Time Are You Going to Spend Getting Acquainted with My Business and Team?

Consultants are way more effective on the ground, working closely with your team than when they are on the 10^th floor of their office. They need to be on-site, learning your culture, understanding the intricacies of your operation and giving you the personalized experience that they have charged you for.

5. How Many Times Have Your Firm Been Sacked in The Last Two Years?

An excellent indicator of the ability of a consulting team is their past references, so dig up some of the more recent ones. Find out how often they have been sacked by clients they have worked with very recently. Chances are that if they have a long list of unhappy clients, you are bound to be one too.

6. How Many of Your Most Recent Clients Can Provide Positive References?

Some consulting firms live on old glory. Quiz them about their recent projects and be sure that they can show you some of their more recent successes.

7. How Much of Your Revenue Is Gotten Via ERP Implementation Vs ERP Software Selection Projects?

Steer clear of consulting firms without adequate experience and revenue from several stages of an implementation cycle. You need to be sure that your consultants don’t just do implementations and pretend to do software (or vice versa). So, do some research into the exact kind of work they do. Regardless of their experience in Oracle | NetSuite ERP, Microsoft Dynamics 365 implementations, SAP S/4HANA implementations, or any kind of digital transformation, the need for a relevant hands-on experience cannot be negotiated.

8. What Reputation Does Your Company Have Among Resellers, Vendors and Competitors?

Competitors that don’t get along well with other players aren’t the best choice. Do some asking and find out what other relevant players think of them. If you hear something terrible, then keep in mind that there is often an iota of truth to every rumor.

9. How Do Current and Past Employees Regard Your Firm?

A dissatisfied workforce can considerably hinder the effectiveness of any consulting company. Check out reviews about them on Glassdoor and visit their LinkedIn page to get an idea of where the company is headed. Also, try reaching out to some of their former employees via LinkedIn to get some firsthand information.

10. How Much Turnover Have You Recorded Between Executives and Consultants in The Last Couple of Years?

A warning sign that a company is in distress is their turnover rate per year (greater than 10%). Keenly scout the company’s LinkedIn page to ascertain how many people have left their position in recent years. Again, watch out for consulting firms that have a high turnover rate in their executive positions.

Ideally, you want to partner with an ERP consultant that will be in business for a long time. The best ones can make you successful, while the bad ones can considerably mar your chances of success.

For more tips and tricks regarding the selection process you should be emplying to select the best independent ERP consultants for your project, call the Seibert Consulting Group at 760-205-5440, or drop us a line at hello@seibertconsulting.com

FAQs

What are the different types of Independent ERP Consultants?

Types of Independent ERP Consultants

Independent ERP consultants can be classified into various types based on their specialized roles and expertise within the realm of enterprise resource planning (ERP) systems. These types include:

Selection Consultants

These consultants aid organizations in selecting the most suitable ERP system by assessing the business requirements, comparing different solutions, and recommending the best fit.

Implementation Consultants

Once the ERP system is chosen, implementation consultants guide businesses through the process of setting up the software. This involves configuring the system, migrating data, and ensuring alignment with existing business processes.

Functional Consultants

Specializing in specific modules or functions of an ERP system, such as finance, human resources, manufacturing, or supply chain, these consultants tailor the ERP system to meet the specific needs of the business processes related to these functions.

Technical Consultants

They focus on the technical aspects of ERP systems, including system architecture, database management, customizations, and integrations with other systems.

Change Management Consultants

These consultants help organizations manage the human side of change that comes with implementing an ERP system. They ensure that employees are adequately trained, onboarded, and comfortable with the new software.

Project Managers

Responsible for overseeing the entire ERP project, project managers ensure that it progresses according to plan, remains within budget, and achieves the defined objectives.

Data Migration Specialists

These consultants focus on transferring data from old systems to the new ERP system. This involves cleaning, mapping, and transforming data to maintain accuracy and integrity within the new system.

Integration Specialists

Ensure seamless integration of the ERP system with other systems within the organization, such as CRM platforms, e-commerce systems, or third-party applications.

Post-Implementation Support Consultants

These consultants provide ongoing support, troubleshooting, and optimization services once the ERP system is live.

Industry-specific Consultants

Specializing in ERP solutions for specific industries, such as healthcare, manufacturing, retail, or the public sector, they possess deep industry knowledge and understand the unique challenges and requirements of those sectors.

Strategic Consultants

Focus on aligning the ERP system with the broader business strategy and long-term goals of the organization.

Training Consultants

Specialize in training end-users to effectively utilize the ERP system, ensuring maximum efficiency and productivity within the organization.

What factors can affect the cost of hiring an independent ERP consultant?

The cost of hiring an independent ERP consultant can be influenced by several key factors. Firstly, the scope of work required can significantly impact the overall price, with a more comprehensive scope involving tasks such as software selection, implementation, training, and post-implementation support typically leading to higher costs.
Another factor to consider is the consultant’s industry specialization. Consultants who specialize in specific sectors such as healthcare, manufacturing, or finance may command higher rates due to their specialized knowledge and experience in those areas.
Geographic location is also a critical element affecting consultant costs. Rates can vary based on the country or city where the consultant is located, with some regions being more expensive than others.
To ensure clarity and agreement on both sides, it is crucial to request a detailed proposal and contract outlining the scope of work, deliverables, timelines, and costs before engaging an independent ERP consultant. This level of transparency helps prevent misunderstandings and ensures that both parties are in alignment regarding expectations and deliverables, ultimately leading to a smoother and more successful consulting engagement.

How much do independent ERP consultants typically cost?

Independent ERP consultants typically cost varying amounts based on their level of experience and expertise. Junior Consultants might charge $100-$150 per hour, Mid-level Consultants may range from $150-$300 per hour, and Senior Consultants can command rates upwards of $300-$500 per hour. For specific deliverables, consultants may offer fixed-fee arrangements, which can range from a few thousand dollars to hundreds of thousands of dollars for larger projects. Retainer fee models may involve a set monthly payment for ongoing services, while project-based fees for ERP implementations can range from tens of thousands to millions of dollars, depending on the project’s scale. Additional costs such as travel, lodging, specialized software, and tools may also impact the overall cost. Factors influencing the cost include the scope of work, industry specialization, and geographic location of the consultant. To avoid misunderstandings, it’s crucial to have a detailed proposal and contract outlining the scope of work, timelines, deliverables, and costs before engaging an independent ERP consultant.

The post How to Select the Top Independent ERP Consultants appeared first on Seibert Consulting Group.

Besides, the court also had a majority opinion that South Dakota law did not have an unreasonable burden on the retailers due to the following:

• South Dakota cannot look back and ask for remittance and collections of the sales as well as taxes on the items already purchased
• The merchants who have a reasonable amount of business are supposed to collect taxes
• South Dakota is among the states which adopted the Streamlined Sales and Use Tax Agreement.

To make this article more enlightening, let’s dive into the three distinct challenges related to internet tax and reasons why NetSuite customers will be considering a time-saving and cost-effective integration to make the adjustment procedure easier.

1. Economic Activities Vary from State to State

The most common way to come up with an economic nexus is through transactions and sales thresholds. According to JDSupra.com, thresholds generally range from $100k to $250k gross revenue for taxable services and goods. If your company is not within the range, then you are safe.

However, a state can have varying ways and standards of levying taxes on remote sales such as affiliate nexus, cookie nexus and click-through nexus. Besides, there are also some states which tax electronically transferred products.

2. Different Transactions are Ideal for Sales and Use Taxes

The classification of transactions that are meant for sales and use tax vary from state to state. For instance, some states can classify “retail sales” as taxable while other states are ambiguous in claiming that “sale of intangible property, tangible personal property or services” are subject to taxes. Therefore, the difference between the states seems to be a major challenge in ensuring the rule is fully functional.

3. New Requirements for Conducting Business

The way of running a business has completely changed due to the ‘Mayfair decision. Every business institution has to completely track and monitor its transaction. Unlike before, businesses did not have to worry about the taxes in the state where they do not have a physical presence. This makes the way of running a business quite challenging because one has to be accountable for every sale and transaction regardless of the geographical location where the business took place.

In a nutshell

As a NetSuite SuiteCommerce customer, you have to understand how the internet tax is being carried out in every state. Now you have a clear overview of how the ‘Mayfair Decision’ came about. The only thing you need to do in your business is to make sure that you can account for every transaction and sale.

To find out more about the Wayfair decision and its effects on Oracle | NetSuite ERP & SuiteCommerce customers, as well as more information about how to solve for the challenges presented above, write to the Seibert Consulting Group at hello@seibertconsulting.com or text us at 510-962-7465

The post How the U.S. Supreme Court’s ‘Wayfair vs. South Dakota Decision’ Presents Challenges to Oracle | NetSuite ERP & SuiteCommerce, Shopify eCommerce Customers appeared first on Seibert Consulting Group.

So what is Accounts Receivable Financing? It is the selling of your accounts receivable invoices for cash versus waiting 30-60 or 90 days to be paid by your customer. Accounts Receivable Financing is also know as Factoring.

Securing the services of an Accounts Receivable Financing Company will allow a small company to bid on almost any contract within reason. A small company would know in advance that the funds needed to produce goods or provide services are available once they win the contract. In fact, some A/R Companies will advise you on which companies they will Factor Invoices from and which to avoid! (Federal Government contracts are considered “gold” however not all Factoring companies can handle Government Receivables)

One of the major concerns for most small business owners is how much does Accounts Receivable Financing cost? Between 1 to 5% generally speaking. Since Accounts Receivable Financing rates depend on the credit-worthiness of your customers, your average invoice, average payment cycle, and factoring volume, its hard to predetermine the exact cost of the money. However, you should remember, whatever the cost is: Its TAX DEDUCTIBLE and this is important. This means that the cost to factor is offset by IRS.

Not all Factoring companies are created equally (you can’t tell that by looking at their web pages). A Cash Flow Consultant or an Accounts Receivable Broker can stir you in the right direction. There are issues such as: process to acquire funding, will the Accounts Receivable Financial company (factoring) company handle your collections, will they provide the funds through a credit card or will they wire the monies into your business checking account, will the Accounts Receivable Financial company factor with recourse or without recourse? (Meaning will they take responsibility for the debt or will you the client take ultimate responsibility? The rates are different)

Sometimes an A/R Broker has a choice, but not all the time. For instances, there are not that many companies that provide Accounts Receivable Financing for health care or construction. It all depends on what type of business you have and what your needs are.

Want to learn more about Account Receivable Financing? Drop us a line and let’s talk!

The post Everything You Need To Know About Accounts Receivable Financing And Tax Write Offs, Including: ‘What Does It Cost’? appeared first on Seibert Consulting Group.