20 February 2019

NetSuite cost factors - how to save your ERP $$$

“NetSuite typically allows for preferential pricing based on factors such as term/duration of use, additional modules chosen, and amount of user licenses. The Three to five years plan may appear more expensive  in the short term, but is actually much more cost-effective, after all, statistically an ERP is an 8 to 10 years investment” 

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20 December 2018

5 Ways You Can Manage the Auditors with NetSuite ERP system

If dealing with an annual audit feels like inviting an unwanted relative to your Thanksgiving dinner, then these simple NetSuite practices will help you keep your auditors satisfied.

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13 December 2018

NetSuite Business Intelligence - Billing & Revenue

It is very common for businesses to invoice on a billing schedule for customers placing large orders, which might result in different amounts being recognized as accounting revenue within a given period.

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29 November 2018

NetSuite Contract Renewals: It's Easier Than it Seems

 

What’s NetSuite Contract Renewal Module?                                                                            

Just as with any other aspect of business, it is important to have good practices in how you manage renewable contracts. This is the dream but in reality, it can be a total nightmare.  Especially when it comes calculating the renewal terms and what services are renewable and what are non-renewable. What can be worse than this? Oh wait, how about forgetting your customer’s contract expired a month ago!

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15 November 2018

7 Ways to Find NetSuite Help Beyond NetSuite Support

Contacting NetSuite Support is one way to resolve problems or get answers to day-to-day questions. However, it’s not the only way to get help when you find yourself stuck with NetSuite CRM or ERP system issues. There are a number of resources out there to learn, in detail, how a feature works and get new ideas on how to better leverage NetSuite. Here are 7 ways you can get additional NetSuite support help:

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1 November 2018

Maximizing the Value of NetSuite Implementation

The scope is well defined, statement of work is signed off, and teams are all set - congratulations! Your organization is about to embark on an exciting new journey, a NetSuite Implementation....or you think….

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4 October 2018

Netsuite Time Tracking Made Easy!

If your organization works with projects or offers consulting services and charges clients an hourly rate, then the phrase ‘time is money’ really means something to you, and this article will be of great interest to you.

Organizations like yours need a time tracking strategy for tasks, ranging from calculating the cost of time and material projects and following up on the training time employees are investing in to tracking the profitability of your projects.

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20 September 2018

The Effects of Netsuite 1099 MISC reporting on your Business

PURPOSE OF NETSUITE 1099 MISC REPORTING

In general, payments made to non-employees/independent contractors in excess of $600 within a calendar year must be reported to the IRS. This is done by filing a 1099-MISC form. If a business needs to file more than 250 forms, they are required to electronically file with the IRS. Depending on the state in which the work was performed, separate filing could also be required at the state level.

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6 September 2018

The life after your NetSuite ERP Implementation - Step by step

 

It’s less costly to properly maintain the ERP system that you have, than to get to a point where you have to start again.

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23 August 2018

Is Your Business Prepared for NetSuite ASC 606 / IFRS 15?

Large public companies, most notably Verizon and Workday, have been preparing for what has been considered one of the most historic accounting changes to hit the market in decades (Forbes), NetSuite ASC 606/IFRS 15. Verizon has been preparing for this transition over the last 3 years. Workday has a dedicated team of accountants reviewing all their contracts and making adjustments to their financial statements.

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8 August 2018

A Guide to Selecting a NetSuite Consultant Implementation Partner

Photo credit:  Pexels

A good Barbershop/stylist is something everyone needs - with SO MUCH choice you'd think that it's easy to find a solid performer, yet so few are able to actually perform the art of styling your hair the way you want it. You find yourself driving across town to your favorite stylist that knows the craft and your preferences well, they also know your birthday, give you coffee while you wait and have beyond belief customer service. Yes - I just compared a NetSuite Consulting Shop to a Barbershop, simply because the barrier to entry is equally low, the market is packed with "experts" and it's also packed with equally pissed off clients that are yet to find their ERP  software go-to barber.  So here's how you should strictly vet the right-fit ERP software consulting shop to save money, jobs, increase adoption and have an awesome partner relationship.  Make sure:  

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2 August 2018

How Does NetSuite accounting software ASC 606 / IFRS 15 impact Customers?

With companies transitioning to NetSuite ASC 606/IFRS 15 accounting software standards, NetSuite will have to accommodate both the new and old accounting standards in the system for existing customers who are in the midst of transitioning. 

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17 July 2018

The Model of a Successful ERP Data Migration

ERP DATA MIGRATION BEST PRACTICES

"...ERP data quality was a contributing factor to the eventual bankruptcy of Target Canada." [1]

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13 April 2018

Big Bang vs Phased ERP Implementation Strategies!

You’ve made it! You have FINALLY come across an article that explains the ins and outs of Big Bang vs. Phased ERP Implementation process. Chances are, you're about to start a big software project (perhaps a NetSuite Implementation), and aren't quite sure of your implementation strategy. If you've read a few other articles prior to making your way here, you'd notice that they typically follow a model:
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