How can organisations answer the universal management question “how are we doing?” and leave time to plan for what to do next?
How often is this question asked in your company?
And how long or how hard is it for you to come up with an answer that you know is accurate, based on concrete fact or evidence?
Indeed, just how can organisations answer the universal management question “how are we doing?” and leave time for strategy – to ‘plan for what to do next’?
Everything in business is driven by management decisions, but if those decisions are based on old or disjointed data, how can they be relied on to meaningfully strategize for the future?
I meet with companies on a regular basis that have no oversight into what inventory they have, for instance, or how much they need to order. I speak to shop floor assistants who are unable to tell me what is in stock and when they can acquire a product for me. I speak with Finance managers whose time is taken up just by trying to close the books.
There’s no time for analysis because their systems and processes are not integrated. It’s a common problem and if this resonates with you, then you are not alone.
The challenge for all organisations is how to navigate a disrupted and fast evolving market place. To meet this challenge, management needs time to think forward rather than spend the bulk of their time trying to gather KPI data to figure out where they were yesterday. NetSuite’s Cloud ERP ( or: business software suite on a unified cloud platform) creates an environment where data for the whole organisation is available to everyone at the touch of a button, increasing reaction time, giving you control and leaving more time for focus on competitive strategy.
NetSuite has the potential for improved management decision making for everyone, from the CEO to the shift supervisor, working off the same performance data. Everyone using the same system creates a cohesive culture and improves the integrity of data. When management is confident in the reliability and consistency of the performance measures that they are using to make decisions about the running of their business, confidence will be high. It eliminates grey areas or hesitation based on unreliable or incomplete management information and minimising day to day communication problems around operational requirements.
The cultural implications of this kind of environment are significant and include clarity for people management and operational requirements, this coupled with confidence in data leads to better communication and better decisions. One of the key drivers of employee satisfaction, for instance, is having the tools necessary to do their job well. Another is communication regarding performance.
NetSuite can create a perfect environment for both.
If you often ask this question of your company, or it is being asked of you, then contact us today to find out how NetSuite and IBT can provide the answer.