What’s the Connection Between NetSuite in Miami and Scaling Your Revenue?

When talking about the use of NetSuite to increase your revenue, there’s a lot to say. People that choose to work with NetSuite have something in common… they’re all growing businesses and facing challenges with what they have right now. It’s a highly competitive environment as there are more and more small businesses and entrepreneurs coming to the market, especially in the US. So the first question you ask yourself is how to correctly pick an accounting software or how to pick an ERP that makes you quicker than the competition?

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Using NetSuite

Using NetSuite we can know how many phone calls we need to have the first meeting, how many meetings we need to have in order to call a company a “prospect,” how many prospects do we need in order to have a customer. So with all that business flow now we have control of our revenue. And we’re scaling.

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Here is an example

For example, the subscription module from NetSuite. It is great because it gives you the ability to understand when you have to send a new estimate to your customers in order to have a new annual subscription in place. It will give you the ability as well of increasing prices because of inflation, it will let you see your cash flow once that estimate is signed.

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Real-time data you need

So talking about revenue and being in control, it’s very difficult for a CEO to look at real-time data. One generally has to wait until the end of the month to get a report from the local subsidiary, and by the time he has those numbers and makes business decisions based on those numbers, those are dead numbers from the month before. Maybe that does not directly relate to revenue-generating, but that really defines how quickly you can make business decisions and in very dynamic industries like the media industry or the marketing industry, that’s critical.

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Invoicing with NetSuite is easy

Another important point is invoicing. When a company sends an invoice to a customer, he will find a link in the invoice, then will click, register his credit card and pay. That payment will travel to NetSuite and that invoice is going to be paid in NetSuite. Once the customer transfers the money to the company’s account, that information will travel again to NetSuite bank reconciliation. The installation and setup of all that are done with a few clicks and that’s it!

It all starts to become very interesting as the company grows. Most of the startup companies are very small, have a few people and they manage everything in spreadsheets and write it down, having everything in their own ERP on Google drive.

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What happens to your company if it starts growing and you have implemented an ERP?

But as soon as you start growing it’s very easy to lose control over what’s happening and that’s something that a lot of people don’t take seriously enough. As soon as you start losing control that means that you’re probably losing a lot of money. Losing money in a business is not really the goal.

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What can I do?

Having a decent software in place from the start that allows you to be in control, act quickly, have the right connections and integrations is very important. This will allow literally how quickly you will be able to scale your business.

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