It’s inevitable. Like taxes, one of the only constant things in life is change. This is no different for any business and is more relevant in age of COVID than ever before.
The Services industry is evolving at a rapid pace. To adapt, service organization must be able to quickly pivot or respond to market conditions, opportunities, and a more customer-centric business model.
For a variety of reasons, professional services companies have an unusually difficult time finding the solution that is not only affordable but fits your needs.
NetSuite understands these needs, and provides users the ability to track time, manage project budgets, manage both fixed-fee and T&M projects, correctly set the bill rates on projects, ensure revenue is correctly booked, and so much more. These processes become more difficult to manage as businesses grow, particularly billing T&M projects correctly, since it’s often done in separate systems.
Early on, many companies rely on QuickBooks to manage their financials. It’s relatively affordable, but as you begin to grow, it becomes increasingly obvious that it doesn’t scale, and can’t keep up with you.
As your small to mid-size business grows, it becomes clear that an alternative to QuickBooks is needed. But the right solution for your unique needs is not always apparent. NetSuite recommends a few tips to match the software to your business requirements:
- Consider a suite – a suite platform eliminates the need to piece together different solutions.
- Take time to understand your needs – be sure to capture the full picture of what your business will require now, but more importantly, five or ten years down the road.
- Hire a partner – don’t go it alone. An experienced partner will help guide you in the right direction and avoid any potential obstacles or pitfalls.
NetSuite makes many of your processes more integrated and seamless, including Revenue Recognition. Want to learn more? Here is a link to a recent webinar NetSuite hosted, titled “Manage Project Revenue Recognition Automatically“.
Keystone also hosted a webinar recently, highlighting why NetSuite is an ideal solution for Architecture, Engineering & Design firms, which is now available on-demand.
If your growing Services business is experiencing any limitations because of QuickBooks, it may be time to discover how NetSuite can help.
Click the button below to download a free white paper from NetSuite.