10 ways an effective financial management system facilitates growth

www.bluebridgeone.com Industry specific NetSuite solutions

10 Ways an Effective Financial Management Solution Facilitates Growth

The Essentials of an Effective Financial Management Solution

smart solutions for businesswww.bluebridgeone.com Industry specific NetSuite solutions

Strong financial control is no longer an optional extra

BlueBridge One is a leader

in deploying NetSuite cloud-

based ERP, CRM and

Financials solutions that

integrate the diverse range

of activities across many of

today's businesses

Financial management across every

department needs to be buttoned

down and integrated to prevent

inefficiency denting the bottom line

and stifling growth.

In this slide deck we give an overview

of some of the key features and

benefits of a financial management

solution that enables control and

intelligence for businesses, including

wholesale distribution, manufacturing

and professional services companies.


1.  Core Financial Management Capabilities

Accounting Functionality needs to be comprehensive and provide scalability to accommodate growth, and flexibility to adapt to

needs such as independent closing and international subsidiaries

Cash Flow Management is critical to growth and important factors here include identifying Recurring Revenue, Revenue

Recognition Management and real-time visibility

Financial Planning and Reporting supports accurate and timely

decision making and is essential for meeting

compliance and regulatory standards


2.  Integrated Inventory Management, Fullfilment & Shipping

Inventory management is essential for preventing excess

inventory pushing up the cost of goods sold (COGS)

Good inventory management means keeping track of bin and lot

management, landed cost, demand based replenishment,

customer and volume pricing, and multi-location inventory

Integrating fulfilment and shipping eliminates manual re-entry and order processing errors, while

reducing annual shipping costs by up to 35%


3.  Low Total Cost of Ownership and Superior Ease of Use

•  A single, fully integrated solution avoids the significant overheads of buying, maintaining and operating several disconnected on-premise applications

•  A cloud-based financial management solution not only eliminates the need for multiple applications, it removes the need for in-house resources, including IT infrastructure and does not increase the workload on IT personnel

•  Cost reduction typically ranges from 20% to 50% and productivity in other areas such as the sales channel may increase three-fold

www.bluebridgeone.com Industry specific NetSuite solutions

4.  A Streamlined Order-to-Cash Process

An efficient Order-to-Cash process ensures profits

grow in line with expectation and demand

An efficient Order-to-Cash system means customer

and order data is only keyed once and then

populated throughout the system to achieve

fulfilment and back end accounting, including sales

commission calculations

A well-executed Order-to-Cash process leverages

greater economy of scale reducing the cost of

sales as growth gathers momentum


5.  Procure to Pay Processes

Procure-to-Pay integrates buying activity

and enables inventory and investment

purchasing that supports growth to be

properly accounted against cost centre

As Order-to-Cash simplifies life for sales ledger,

Procure-to-Pay eases purchase ledger and

means supplier and purchase order data is only

keyed once, eliminating errors and saving time

Purchase order automa.on enables automa.c re-‐ordering once stock

levels reach a pre-‐determined trigger point, op.mising inventory


6.  HR Process Management

The efficient hand-off of HR information to finance reduces

errors and saves time across the process that ensures salaries,

deductions, holidays and sickness are correctly calculated

Payroll integration ensures earnings, deductions, company

contributions and taxes are automatically worked out and that

tax reporting is easily obtained

Enabling employee self-service allows data changes made by

staff to be automatically captured and reconciled to the

system, reducing administrative time soak and costs


7.  Business Intelligence

1.  An integrated financial solution across the business is the foundation that releases true business intelligence

3.  Dashboards are real-time and based on a central repository of data, eliminating inconsistencies and inefficiency while saving time when compared with manual, spreadsheet based BI processes

2.  Customised dashboards tailored to the role of each member of the finance team provides insight into key performance indicators


8.  Multi-Company and Global Business Management

A good solution for international operations also eliminates the cost and complexity that results from currency conversion and daily variations in FOREX rates

Sustaining growth may mean an expansion into new international territories and a solution purpose built for the needs of a multi-country business vastly simplifies cross border operations

Legal and tax compliance and integrated VAT or other local sales tax functionality increases accuracy while eliminating the need for manual, error prone processes and costs


9.  Adaptability to specific business models

•  Even within the same sector, no two businesses have

identical needs and cloud-based solutions need to be as

adaptable, flexible and configurable as possible

•  The financial management solution needs to be able to

address the unique needs of each individual business

•  Flexible workflow management enables companies in

different sectors to align the solution with the varying

needs of their business models


1 10.  Project Accounting and

Contracts Management

Central to simplifying this is

a good project to bill process

that identifies when

deliverables have been

completed and request for payment can be initiated

Companies providing

project or contract based

services probably have

the most complex

business models, creating problems for finance

A fully integrated project

to bill process responds in

real-time optimising billing

and automating payment

schedules required for multi-staged projects

2 3


Summary

•  A truly integrated financial management system centralises

financial control and efficiency, maximising profitability

•  Integration brings together, simplifies and automates

business processes, improves accuracy and delivers

intelligence while allowing your staff to perform their jobs

much quicker

•  An adaptable, cloud-based solution rich in business

planning, system integration and reporting capabilities best

facilitates business growth


Download the full paper

Find out more by downloading the full white paper at:

http://www.bluebridgeone.com/s.nl/it.I/id.117/.f

Find out more about BlueBridge One

Visit us at www.bluebridgeone.com or call 08008 620 243 to find out how we deliver

the benefits of NetSuite to UK companies that demand service and support appropriate to

the pivotal role ERP, CRM and Financials play in their businesses.

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