Companies that make, sell or distribute products typically require receipt, storage and fulfillment of goods into, within, and out of a warehouse. Without a system specifically design for warehouse management in place, this can quickly become a manual, costly and inefficient process that won’t support a fast-growing business.
With as many features as a complete ERP suite like NetSuite can provide, some are bound to fly under the radar. With the Did You Know? series, NetSuite’s product team is highlighting some of these features and how customers can benefit.
Most entrepreneurs and startups share a common vision: focus on growth. As they get their businesses off the ground, secure funding and begin to hire their first employees, most turn to simple accounting and payroll solutions like QuickBooks. It provides a low-cost solution that will handle the basics of bookkeeping, pay a small workforce and send summary level payroll information back to the general ledger to account for compensation and benefit expenses.
In 2004, Ibushak—a Mexican ecommerce provider helping companies of all sizes sell and distribute products across Latin America—was fulfilling 40 orders a day. Fast forward to 2019, and the company is now seeing 2,500 orders a day.
Financial Planning and Analysis (FP&A) teams play a crucial role supporting major corporate decisions of the CFO, CEO, the Board of Directors and department heads. Unlike accountants who are in charge of recordkeeping, financial analysts are charged with examining, analyzing and evaluating the entirety of a corporation’s financial activities and mapping out the company’s financial future.