If I told you right now that I was wearing the same clothes as when I was 3 years of age and have sustained growth throughout the entire time with no issue, you would surely laugh. It’s absurd to think that any type of growth can be sustained without change. For businesses still running their financial systems on spreadsheets or archaic on-premise software it's much the same. These types of systems, as you may know, are suitable for immediate accounting needs when implemented, but pose huge financial burdens with upgrades, updates and maintenance, alongside a heap of scalability, flexibility and agility issues. In this sense, those same clothes you bought 5, 10, 15 or even 20 years ago may not hold the potential to allow you to grow without bursting at the seams.
Loudhouse research, conducted on behalf of NetSuite, revealed the detriment of outdated, inflexible software. The research showed that 69% of small and midsized firms said growth is their primary objective, 91% believed that choosing the right accounting system is essential in achieving this. Among this group, 60% of Sage users have consistent issues in sharing financial data within their organisation. The staggering reality here is that financial systems are holding business back from making important decisions quickly, because of a lack of financial visibility. The real-time, live data that makes agile and reactionary decisions possible, will always be impossible with archaic software where manual data input is still needed.
On the other side of the fence, Loudhouse research displayed that the majority of NetSuite customers spend less than 2 days closing their end-of-month cycle. Compare that with Sage users, with 90% not managing to close their report in under 2 days due to manual data consolidation or multiple apps and platforms.
From Services to Software, 3EN and NetSuite have streamlined business, to ensure that continuous growth and success are possible with a single true cloud solution. The business world to realising, Cloud-based systems, like NetSuite, have proven to allow business to circumnavigate the onslaught of disruptive software updates, upgrades and relearning processes that proliferate with on-premise software. On-premise software throws you into a cycle of wasting valuable time, resources and people to simply get your business up and running again. Gartner revealed that by 2018 around 30% of service based companies will move the majority of their ERP applications to the cloud.
The same message remains, Cloud based software is the future if growth is your objective.
Business growth is all about agility, and the Loudhouse research clearly emphasises the truth behind on-premise software and their lack of agility and flexibility that a modern business needs to support diversification and growth. The Cloud is future proof. How you ask? With real-time visibility at its core, data centralised on one unified database, mobile compatibility, and used by companies from 5 users to 500, the possibilities are endless.