A Cloud ERP Journey: A Controller’s Perspective on Upgrading Accounting Systems
As a leading NetSuite partner and outsourced accounting firm for the past twenty years, Plumb helps companies identify when it’s the right time to make the switch to cloud ERP solutions for business growth. Since a cloud ERP implementation is a major commitment, it requires a company-wide effort with management support. Plumb provides fractional controller accounting services for companies using NetSuite. Cloud ERP – Outsourced Accounting Services
What is Cloud ERP?
ERP = Enterprise Resource Planning. ERP is a business management software that integrates various processes into a unified data source and unified user interface. It is also an opportunity to transform your organization and processes to build a better foundation for future growth!
Cloud = Also known as Cloud Computing. Cloud is the practice of using a network of remote servers to store and manage your data online, as opposed to having your software on a local server or personal computer.
An ERP system helps to unify typical business processes, which overlap and utilize similar information. By unifying these operations, it reduces operating costs, inefficiencies and potential errors of inputting the same information in multiple places.
Cloud ERP Considerations:
- You need a more flexible system with access to real-time information
- Too many manually compiled spreadsheets
- Visibility across departments
- Systems are disjointed and error-prone
- Not able to grow the business in certain areas
- Need for consolidated financial statements
- Multiple subsidiary and Multi-currency
A Controller’s Perspective
Tony Marchese, CPA, is a Senior NetSuite Consultant at for the NetSuite Professional Services division at Plumb. He has over 10 years of experience in public accounting, auditing, SEC reporting and private industry. Prior to joining Plumb, he was a Controller for a private retail-IT equipment reseller and performed and managed the entire financial close process with oversight of AR, AP, Credit and Billing.
During my career as an auditor and later as a Controller, I experienced first-hand the complexities of creating and running reports in older accounting systems. Issues included:
- Time delays with GL postings due to batch processing
- Dependence on IT for reporting refreshes and writing
- Little-to-no drill down functionality
It wasn’t until my employer at the time decided to implement NetSuite, a cloud-based ERP system, that I was able to spend less time waiting on systems and other people. I could be more self-sufficient with financial processes, including:
- Real-time posting to the GL
- Ability to create custom reports without a coding background
- Analysis capability within the ERP system starting with summary information, as well as, the ability of seeing the individual transactions making up the total
- More time to spend analyzing information and managing the organization versus data gathering and manual reporting
Yes to Cloud ERP….Now What?
For any given industry or vertical, there are several possible Cloud ERP software systems from which to choose. Each have their strengths and weaknesses. There are many factors to consider, including finding the right Partner to implement and customize your new software. To be better prepared when evaluating the right software and Cloud ERP consultant, read ERP Conversions, Considerations and Case Studies.
Ready to learn more about how Cloud ERP and NetSuite can transform your business? Contact Plumb today.