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9 Reasons to switch from Quickbooks to NetSuite

Quickbooks is a starter system for small businesses that quickly makes the business run but Oracle NetSuite is much more. See why...

Manual Accounting

Why should you switch?

As you expand, you recruit more staff, process more data, and demand greater automation as the number of clients increases. You need an efficiency-boosting accounting software solution that serves as the framework for your increasingly complex business.

With QuickBooks, businesses for particular reasons have to rely on more applications; revenue management, fixed assets, procurement, order management, billing, inventory management, distribution of services, and more. And if these systems are not integrated, the accounting department would have to manage half a dozen different applications and human errors resulting from transferring and merging data between different services, each with its own configurations and end-to-end processes, and you would have to add staff to handle it all.

With SuiteSuccess Financials First, migrating clients from QuickBooks to Oracle NetSuite is easy. Think about existing requirements and scalability while deciding whether it's time to update. And think about your long-term business goals before deciding on financial accounting software. QuickBooks might act as a quick fix, but would it satisfy your needs during growth seasons?

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It's important to be able to monitor your funding while you're pursuing capital investment. When considering investing in your company, potential investors will need access to your financial statements, and they will also set you debt agreements and revenue targets to benchmark how much debt you should have and how much working capital you need.

Capital investment

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Why You Should Pick NetSuite

Oracle NetSuite provides a complete solution for financial management that increases efficiency and decreases the need to add to the headcount as the financial needs of the company to become more varied and complex. Oracle NetSuite comes with pre-configured KPIs, workflows, reminders, and interactive dashboards that display precisely how operations and accounting processes match and what needs to be done, rather than just a list of accounting information. Here are some features that empower Oracle NetSuite over Quickbooks:

Oracle NetSuite helps accounting teams to comply with revenue recognition standards and plan revenue to be recognized automatically if a sales transaction consists of a single event, a sequence of actions over a period of time, or multiple forms of deliverables in a package. In real-time, financial statements and forecasts are reliable and revised.

This is particularly useful for software and service companies dealing with various deliverables that involve accounting teams to identify and monitor revenue at various points in time, such as updates, services offered over time, or additional licenses. QuickBooks can create creative workarounds for the limitations, but workarounds eventually produce a morass of manual journal entries, complex spreadsheets for the acknowledgment plan, and unclear or non-existent visibility forward.

Revenue Recognition

The ability to incorporate new systems will become essential for entering new markets as you hit new levels of business opportunities.

Multiple Subsidiaries and Acquisitions

Data is a tool that is extremely strong. It gives staff within your organization exactly what they need to make easy, educated choices. Fortunately, Oracle NetSuite gives you the power to extract and exchange data automatically from the cloud with your departments. All of this can be personalized, too. Oracle NetSuite's advanced features allow users to configure permissions, ensuring there is no sharing of unnecessary data.

Data Connectivity

Oracle NetSuite is built alongside your business to size up. Oracle NetSuite is completely qualified to manage multiple subsidiaries and foreign currencies and provides specialized financial consolidation tools. Your main accounting processes can be automated with Oracle NetSuite, thereby reducing the chance of manual mistakes and delays.

You need a framework that can quickly scale up for you as your business starts meeting more complex financial requirements.

Oracle NetSuite Financials enables you to:

  • Inventory management across various sales channels

  • Provide insight into the inventory of your business and the services available

  • Streamline the purchasing processes for purchases, order, and delivery

  • Manage all the information you obtain on a regular basis from your growing business.

  • Easily add and maintain new platforms for sales

Better Financial Tools and Consolidations

Both QuickBooks and Oracle NetSuite provide regular reports on accounting, such as P&L and cash flow. But the expansive library of Oracle NetSuite provides real-time data, from sales forecasting to combined reports of parents and subsidiaries. And you can report using the local currency of the countries where the subsidiaries are based, thanks to Oracle NetSuite's multi-currency functionality.

For any record in the system, Oracle NetSuite enables detailed drill-down and drill-across reporting with ease. Oracle NetSuite reports remove static reporting, providing flexible views from department, location, product line, or any number of operational viewpoints for reports.

Real-time Reporting

A comprehensive warehouse management system with a 360° view of all operations is supported by Oracle NetSuite. With real-time analytics along with serialized inventory tracking and real-time reporting, Oracle NetSuite provides full visibility. Oracle NetSuite also offers a module for demand planning that enables users to predict inventory changes based on past patterns and projected revenue forecasts.

Advanced Inventory Management

With more than 20 years of ERP deployment experience customized to unique industry requirements, Oracle NetSuite has an oriented approach, SuiteSuccess. Oracle NetSuite is pre-configured to meet the growing requirements of your scaling company from day one with appropriate KPI reporting, pre-configured dashboard systems, and roles and add-ons!

Industry-Specific Configuration

You need an integrated business structure that centralizes accounting, order management, customer relationship management (CRM), and e-commerce, all in the cloud, to execute growth strategies and make your company become a main competitor in your industry. Essentially, you are equipping the organization with a number of different resources that would not have been available with a starter system when making the transition from Quickbooks to Oracle NetSuite.

Your team can quickly and effectively access customer information and respond to customers within record time if the entire organization has access to the same customer information and transactions. It also makes it possible for the sales team to spot opportunities.

CRM and E-Commerce

About Us

Haya Solutions Inc. is an Oracle NetSuite Alliance Partner with unique and long experience in ERP, CRM, and E-Commerce consultancy in many industries. Haya's team are experts in Business, Business Processes, and Technology. A long track record of Successful Implementations for all business sizes. Haya is A+ accredited by BBB and rated 5 Stars at Google review.

Oracle NetSuite Alliance Partner
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NetSuite Solution Provider

Quickbooks Limitations

Quickbooks is a starter system for small businesses that quickly makes the business run as it manages the financials (Payables, Receivables, etc.)

As the business grows, the starter system functionality is not enough at all and the following points clarify some pain points of Quickbooks:

Manual Data Collection

When you deal with Quickbooks, forcing workers to enter and exchange their data (sales orders, invoices, budgets, timesheets, etc.) manually in spreadsheets is always the case. That is time-consuming and can lead to mistakes.

Data Collection Paper and a Laptop

Poor Reporting

The need for full real-time insight into the business process is also growing as the organization expands. When using spreadsheets for data collection, real-time reporting about the organization in Quickbooks is almost impossible.

Reporting Chart

One Company, One Country and One Currency

Multiple subsidiaries and foreign currencies are not covered by Quickbooks. Quickbooks would make it harder to handle market growth internationally.

All in one box
Home Inventory

Basic Inventory Management

Quickbooks provides only simple stock functionality when it comes to inventory management. There is no serialized inventory monitoring, for example.

Basic Meter

Limited Scalability

Specific industry needs are not supported by Quickbooks. It is designed to be a standard system of accounting.

Quickbooks vs NetSuite

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"In seeking an ERP system to properly manage our business we were fortunate to find Haya Solutions. From early consulting on which system would be best for our business, to the full implementation of NetSuite, we received great advice and excellent support. We continue to work with Haya Solutions because they are a pleasure to work with and the value they bring to our operations."

Brian Gold - Seltzer Goods

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