As CFO, your company’s financial health and future are in your hands. That’s a huge responsibility, and you need every tool at your disposal to make success an achievable goal.
For companies that are growing from local to global enterprise, the decision to implement a global ERP system should not be underestimated. By choosing a platform capable of meeting the needs of a large, multi-country company, you are laying the vital foundation blocks of efficiency, transparency, and control. But that’s not the end of the story – it’s just the beginning.
Here are some of the challenges you’ll face as CFO, and how your choice of global ERP platform can help you tackle them head-on:
1. See the future and plan for it
When you took on the role of the financial manager, you took on a massive amount of responsibility, and every day, there’s a lot on your plate. Yet the overarching duty of a CFO is to lead the company’s finances forward, taking into account many factors and dynamics, such as local and global economic conditions, changing markets, the competitive landscape, sales performance, fluctuating revenue, increased expenses, and more. With so much financial data and so many moving parts, there’s only one way you can plan for the short-term and long-term health of the company – and that is by having a clear picture of the status of every aspect of the company’s finances, in every region, at every moment.
A solid global ERP platform is designed to help you strategize, with a comprehensive vision to analyze past results and look ahead to future forecasts, all the while managing the day-to-day finances. Therefore, your ERP will need to incorporate a range of features to support your company’s specific needs. By building your best ERP, you are assured of a robust and efficient solution that gives you 20/20 vision of the company’s global financial status.
2. Make the move to the cloud
The decision to move to the cloud is a decision that has long-term benefits for companies in the process of going global. At AllCloud, we help customers become cloud-native, by designing and implementing cloud infrastructure that supports and integrates the company’s management software and apps. Choosing a cloud-based ERP platform is a critical part of the process of moving to the cloud, as it facilitates the seamless integration of your ERP with other platforms, most importantly the CRM.
Specifically, the AllCloud team specializes in integrating the NetSuite ERP solution, an ideal choice for growing global companies, with Salesforce, bringing all the company’s financial, sales and marketing data together in one secure, accessible and scalable cloud-based location that easily grows as-needed together with your business.
3. Get it built by the experts
The continuous handling of massive amounts of financial and other data generated by growing global companies demands a robust, custom-configured solution.
On the other hand, as CFO, you don’t have the time nor inclination to think about the backend of your ERP solution. You want a platform that is user-friendly, accessible, and more importantly, ready for use right now, with the flexibility to be scaled quickly.
A modular global ERP, such as NetSuite, is the first choice for companies worldwide because it precisely covers all these conditions. Depending on your company’s type and size, you will inevitably have specific requirements for your ERP. For example, if you are a manufacturing business, your needs will be different from a professional services company, which will be different again from a retail company managing store inventories.
The ERP solution must comprise all the various modules needed by every type of company, such as financial management, financial planning, order management, production management, supply chain management, warehouse & fulfillment, procurement, revenue recognition and more. Then your solution can be tailored only with the applicable functions and features to help you manage and grow your business’s finances.
In addition, you need a professional team, who specializes in cloud-based implementation and global ERP platforms like NetSuite, to expertly configure the basic infrastructure and build a work-ready solution that’s just right for you. So you can focus on what’s really important to you – as CFO and financial leader of your global, growing business.
Want to discover how a customized NetSuite solution can help you succeed in your financial challenges, today and in the future? Contact us.