Crowe – NetSuite Cloud ERPProduct Overview
- About Crowe – NetSuite Cloud ERP
- Pros of Crowe – NetSuite Cloud ERP
- Cons of Crowe – NetSuite Cloud ERP
- Breakdown of core features
Crowe – NetSuite Cloud ERP product overview
Crowe is a global consulting firm with experience and expertise on Oracle NetSuite ERP implementation and practices. As a NetSuite solution provider since 2006, Crowe helps hundreds of customers worldwide run NetSuite to improve the performance of their daily financial transactions, get a clear picture of finances at all times, gain operational insights, and ensure compliance. The Crowe-NetSuite partnership offers a cloud-based single platform that ensures real-time visibility in the financial performance of business from a consolidated level down to individual transactions. Streamline critical business processes with the right implementation of NetSuite financial management through integration with other NetSuite tools such as order management, inventory, CRM, and e-commerce.
Crowe provides analysis of customer needs to understand and recommend which platform would provide the best value. Clients find services such as pre-IPO analysis and rigor, systems selections and advisory services, risk advisory services, ASC 606 and ASC 842 compliance, audit, and tax services to be valuable and beneficial. In addition, Crowe’s development team builds NetSuite customizations to fill critical gaps across vertical markets such as wholesale distribution and manufacturing. The team’s industry expertise ranges from technology to retail and healthcare to give clients additional opportunities to thrive and grow. Its team of consultants have experience across the NetSuite platform within multiple industries to form a strong integration and development team that have met challenges successfully.
Pros of Crowe – NetSuite Cloud ERP
- NetSuite optimization: Crowe’s target market and support fits with NetSuite’s financial management solution in supporting businesses at every stage of growth. The cloud-based unified platform offers a suite of customizable business solutions ideal for companies looking to increase operational efficiency throughout the business. And because it is built for the cloud, it provides business data in real time with no additional IT infrastructure required.
- Crowe implementation methodology: Crowe assesses your business needs for today and for the next two to five years. They can design the right solution that can go live within 90 to 180 days. With its NetSuite expertise, they can provide the right preconfigured KPIs, workflows, reminders, and customizable dashboards that show how operations and accounting processes align and how to accomplish it. The firm’s development and integration team follow the Crowe implementation methodology that has been key to successful NetSuite implementations.
Cons of Crowe – NetSuite Cloud ERP
- Contract management process: Crowe, as a global CPA, tax, and technology firm, has a robust contract management process due to its multiple services lines. The legal and contract review process can be time consuming for all parties involved if deep modifications are required.
- HR/payroll limits: NetSuite’s Human Resources and Payroll applications perform solidly, but once a company has over 600 to 700 employees, you may need to move to another platform. It is a great platform for the earlier stage and fast growing company, and NetSuite has a marketplace with full integrations to other HR and payroll solutions.
Breakdown of core features
Global accounting and management firm
As a global firm, Crowe understands the value of a strong multi-company platform. Its consultants can help you design your corporate structure to enable automated, consolidated reports for the boardroom. They can optimize the NetSuite implementation to provide “close to disclose” capabilities that accelerate close time, maximize transparency, and ensure compliance. Crowe consultants can help design, implement, and customize the cloud financials and accounting software. By coupling core finance and accounting functions with compliance management, NetSuite improves business performance and increases financial close efficiency while reducing back-office costs.
Revenue recognition for all industries
Let Crowe assist with compliance and implementation of NetSuite’s award-winning financial management software. This enables accounting departments to account for any contract under any revenue standard, for any given set of products and services including software and service contracts specified in accordance with ASC 606 and various preceding standards.
Complex process synchronization
Crowe assists with SuiteBilling implementation, which transforms billing from a stodgy, back-office function into a strategic differentiator by placing it at the core of the business. NetSuite’s unified billing framework supports transaction, subscription, usage-based, and any hybrid model thereof, all while managing revenue accurately and in accordance with the latest revenue recognition standards. NetSuite is an agile and sophisticated solution that offers control and flexibility over billing and revenue management processes. SuiteBilling is a centralized framework that supports monetization models and allows customers to be nimble, innovative, and profitable in today’s marketplace.
Integrated planning, budgeting, and forecasting
Let Crowe help automate your critical planning processes with NetSuite’s Planning and Budgeting that automates labor-intensive planning and budgeting processes and centralizes company financial and operational data. Finance teams can quickly and easily produce budgets and forecasts, model what-if scenarios, and generate reports within one collaborative scalable solution. Teams are able to gain the needed control, collaboration, and visibility of their organization’s financial and operational plans. Get the right reports to understand the status of sales, support, AR, and AP, all in real time. With NetSuite, your entire organization gains a modern financial reporting experience that delivers real-time financial analysis and modeling across every dimension of your business for detailed insights into corporate performance and improved business decision making.
(Last updated on 02/08/2021 by Jose delos Santos)