Chances are, if you own or help operate a business – you have heard of QuickBooks.
QuickBooks is a small business solution for accounting and finance. As companies achieve their growth and expansion goals, many find that they need a more robust solution than just QuickBooks for inventory. Enter inventory startup Fishbowl, which touts that it is the most “asked for” inventory solution to bolt-on to QuickBooks.
As a starter system, QuickBooks makes financial sense for companies hovering around five to ten employees and operating at one to three million in revenue per year. It provides basic functionality to run a business and helps companies get organized. When distribution companies grow, their business processes get more complex and their inventory management needs are more complicated. Business owners then need to decide: should I add on to my starter system with another starter system — or do I begin looking at a system that will grow with my business for years?
QuickBooks vs NetSuite – Which is Right for You? NetSuite offers a complete financial management solution that increases efficiency, reduces cost, and is designed to scale with growing businesses. NetSuite comes with pre-configured KPIs, workflows, reminders, and customizable dashboards that show exactly how operations and accounting processes align and what needs to get done. NetSuite encompasses an entire suite of business solutions beyond accounting in the cloud, in real-time, to connect the entire business: CRM, ecommerce, HR management software (HRMS), professional services automation and more.
QuickBooks focuses on accounting software for small businesses, so supporting additional complexities requires layering additional systems and applications. Inadequate business management tools can hold your finance team back! An upgrade from QuickBooks can alleviate your finance team’s pain and help set up your business with the proper systems to support your growing and expanding business.
If your company suffers due to a lack of real-time visibility or hours wasted on manual processes, you should consider a change.
• Legacy vs On-Premise ERP Overview
• What is NetSuite
• What is Cloud ERP Software
• Get NetSuite Pricing
Why Businesses Choose Cloud ERP
Fishbowl and QuickBooks Versus ERP
Fishbowl is similar to QuickBooks in that it is a cheaper solution for small businesses than an Enterprise Resource Planning platform. Adding a “band-aid” like Fishbowl inventory to QuickBooks may work in the short term, but in the long term, you are left with multiple systems where critical information resides disparately. These systems do not talk to each other or may transfer limited data through an integration—not in real-time. When visibility and insight are affected negatively, the entire business is affected.
If you can relate to 4-8 of these bullet points, QuickBooks and Fishbowl might be failing your distribution business:
- It’s too hard to find out what’s happening across your organization in real time.
- Limited visibility into key metrics.
- Limited functionality won’t keep pace with modern requirements.
- Inability to scale as you expand to multiple locations.
- Inventory levels are inaccurate and frequent stockouts and overstocks occur.
- Frequent and time-consuming IT support is required for system updates and QuickBooks integration.
- Reporting is limited and not in real-time.
- Inability to customize the system to your business model.
- No supply chain forecasting or budgeting capabilities.
Why Distributors Choose NetSuite?
-
Integrated Business Management:
NetSuite offers a comprehensive suite of applications, including ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), and e-commerce functionalities. This integrated approach can streamline business processes, reduce data silos, and enhance overall efficiency. -
Scalability:
NetSuite is known for its scalability, making it suitable for businesses of various sizes. As distributors grow, they can continue using NetSuite without the need for major system overhauls. -
Cloud-Based Solution:
NetSuite is a cloud-based solution, allows users to access their data and applications from anywhere with an internet connection. This can be especially beneficial for distributors with multiple locations or remote teams. -
Real-Time Visibility:
NetSuite provides real-time visibility into various aspects of business operations. This can help distributors make informed decisions quickly by having up-to-date information on inventory, sales, and financials. -
Advanced Reporting and Analytics:
NetSuite offers robust reporting and analytics tools, allowing distributors to gain insights into their performance and make data-driven decisions. Customizable dashboards and reports can be tailored to specific business needs. -
Automation and Workflow Management:
NetSuite includes automation features that can help distributors automate repetitive tasks and streamline workflows. This can improve efficiency and reduce the likelihood of errors in critical processes. -
Compliance and Security:
NetSuite is designed to comply with various industry standards and regulations. The platform also prioritizes security, including data encryption and access controls, which is crucial for businesses handling sensitive information. -
Global Business Support:
For distributors with international operations, NetSuite offers capabilities to manage multi-currency transactions, taxation rules, and compliance with local regulations, facilitating global business management. -
Customer Support and Community:
NetSuite provides customer support and has an active user community. This can be valuable for distributors seeking assistance and insights from other users who may have faced similar challenges. -
Customization and Flexibility:
NetSuite allows for a high degree of customization, enabling distributors to tailor the system to their specific business needs. This flexibility can be crucial for adapting to unique industry requirements.
When comparing software solutions, it's important to assess specific business requirements, budget constraints, and long-term goals to determine which platform aligns best with your needs.
What’s the next step?
If the above business challenges sound familiar, it may be time for an ERP that is a totally integrated business management system. When looking for mid-market ERP systems, there is no doubt that NetSuite is a market leader. NetSuite is the most deployed cloud ERP in the entire world.
Get A NetSuite Price Quote Today
Switching from QuickBooks or Fishbowl to NetSuite is hassle-free.
It’s time to make a change to better your business future.
Want to learn more about the #1 Cloud ERP software on the market? Contact our experts today.
Protelo’s award-winning NetSuite team is here for your business. At Protelo, we are dedicated to helping companies run their businesses more efficiently for optimal revenue growth. As a top-tier NetSuite ERP Solution Provider and NetSuite reseller, Protelo provides businesses of all sizes and industries with a single source of expertise to implement, customize, integrate, and refine processes. We bring expertise and deep product knowledge to companies interested in exploring the power of the NetSuite application.
CONTACT US TODAY FOR A FREE NETSUITE TRIAL
