The life sciences industry is operating in an era of significant transformation, with shifting healthcare and FDA regulations, constant pressure for meaningful innovation, and increasingly intricate supply chains and distribution models.
The Adaptive Insights Business Planning Cloud enables foundations to plan with seamless, integrated planning software that’s easy for everyone to use. With powerful cloud-based planning, reporting, and analytics, foundations can create plans as unique as the programs and causes they serve that help everyone plan as a team to better achieve their mission.
Technology and education are now intertwined in more ways than one. Students engage institutions online, enroll online, and even take courses online.
Managing everything virtually is a requirement if a school wants to stay up-to-date with the times and expectations of future students.
This is why Edtech is on the rise. Managing student enrollments, communications, digital courses, finances, and other critical tasks using manual processes is outdated and time-consuming.
Yet, using a variety of software platforms to manage it all can be costly, and it creates unnecessary silos that can lead to fragmented data.
The solution? NetSuite.
Here’s a look at the benefits it offers.
Grow Your Shrinking Budget
And you’re not alone. This is a common issue among school districts that face a constant uphill battle with funding. On average, schools are spending roughly $400/student just for IT.
Then others can’t afford IT projects whatsoever. At first glance, it may seem that solutions like NetSuite are out of reach. However, if you look closer, you’ll see it’s something else — they’re using outdated equipment that’s sucking their funds dry.
By eliminating these futile platforms and integrating an ERP solution, such NetSuite, you can reduce costs and enhance efficiency.
Studies show that by outsourcing IT, schools can save upwards of 40% (compared to hiring an in-house team).
Stabilize Your Unreliable IT Infrastructure
When you turn your institution into a digital campus, you need to ensure your IT infrastructure is reliable. Unfortunately, this isn’t always possible when you’re using outdated platforms that fail to keep up with demand.
This leaves your students vulnerable to delays in accessing online course materials. However, updating these so-called solutions can be quite expensive.
By upgrading to a cloud ERP, you can cut the cost of these improvements and get the IT stability your school needs.
Get a Better CRM
Today’s prospective students aren’t calling you. They’re visiting your website, chatting with online representatives, and reaching out via social media.
This means you need a customer relationship management (CRM) system that can gather information from all sources throughout the customer lifecycle. This way, you can effectively renew, upsell, cross-sell, and support students and potential enrollees at all stages of their journey.
Qualifying leads faster will also increase student enrollments, with the help of direct mail and email targeting.
Increase Your Revenue
There are multiple streams of income for educational institutions. You have donors contributing funds, students paying their tuition, members paying their dues, and alumni (and others) purchasing school gear.
With NetSuite, you can set up an e-commerce store that integrates with accounting, marketing, and order and inventory management. You’ll be able to accept payments and process orders effortlessly.
Shipping, receiving and returns also become easier to manage when you have an ERP solution.
Streamline Multi-Campus Operations
It’s hard enough trying to organize the processes of campuses across the city or state. Why make it more challenging by using siloed software platforms? This makes it impossible to see what’s happening from campus to campus?
NetSuite makes it so that you can manage multiple locations and subsidiaries efficiently. This includes having real-time visibility of what’s happening, and it streamlines processes implemented across schools and divisions.
At the click of a button, you can standardize new processes everywhere at once.
Improve Human Capital Management (HCM)
Staff members are the backbone of your organization. But you need an HR team that can effectively onboard, train, and manage personnel. With an ERP solution, you can
- centralize safety training
- Manage code conduct management
- implement other processes
All the while using a single suite.
NetSuite simplifies human resources by offering vital features, including:
- employee center
- HR analytics
- and other core HR capabilities
Get a Bird’s-Eye View of KPIs
Education is a business. And just like any other company, you have KPIs to maintain. This may include metrics for student inquiries, enrollments, marketing campaigns, revenue, etc. With the dashboard offered by NetSuite, you can keep a hawk-eye on key performance indicators for individual schools.
Knowing which schools are struggling and which are performing optimally can help pinpoint where improvements are necessary.
Plus, you can set it up so that the data is shareable between school admin, officers, board members, and auditors.
Access Robust Financial Management Tools
NetSuite’s dashboard goes beyond KPIs and metrics. You also have end-to-end visibility of accounts receivables and payables. Then you can eliminate bottlenecks by automating the order and cash process.
The procure-to-pay and record-to-report processes are also seamless, along with accepting electronic payments securely. You’ll find that creating invoices is faster, thanks to its advanced revenue recognition capabilities. It can process payments for tuition, field trips, special events, and more.
Monitoring what’s coming in and out requires a robust dashboard with financial reporting. You can develop these reports and send them to key members in a jiffy.
The real-time reporting also helps to track complex (and ever-changing) compliance rules. The goal — to ensure the best security and visible audit trails.
To take it further, NetSuite enables you to track and report the lifecycle of assets — from acquisition to depreciation to retirement.
Taking EdTech to the Next Level with NetSuite
There aren’t many ERP solutions out there that streamline all of your processes. If you’re serious about improving tracking, reporting, visibility, finances, revenue, and marketing — then you need NetSuite.
We’re helping schools combine their technologies into a single, robust platform.
If you’d like to do the same, then reach out to Zanovoy today!
There are a lot of tough decisions you have to make when you’re running a business. Making the choice to adopt NetSuite into your processes was one. And now, you have to consider how you’ll successfully implement it throughout your organization.
Now, NetSuite managed services are on the table — but should you get it? Or maybe you should rely on your staff instead?
These are excellent questions, which we’ll help you to answer below.
So let’s take a look at the benefits of using NetSuite managed services after going live.
1. Take an Active Approach to IT Problems
The larger your company, the harder it becomes to pinpoint issues before they turn into full-blown problems. This can occur in any department — finance, IT, sales, or even HR.
With NetSuite managed services, you always have a dedicated team of specialists who can spot and eradicate these issues fast.
2. Get Quick Access to New Technologies
You’re too busy operating your business — as you should be. But this can put you in the position of allowing your tech to become outdated. When this happens, you risk falling behind the competition.
You can prevent this by working with Netsuite managed services. They’ll ensure your technologies are always up-to-date and up to par with the needs of your company.
3. Save Money By Avoiding the Costs of FT Staff
At first, you may think it’s better to opt for an in-house team to manage your NetSuite implementation. However, when you factor in the costs of their annual wages, benefits, and paid time off, the price gets steep pretty fast.
A lot of this is eliminated when you choose to outsource to NetSuite managed services.
4. Get Peace of Mind to Focus On Your Business
There’s a lot that goes into the management of your NetSuite system. This can take your attention off of more important matters, such as growing and expanding your company.
Instead, you can have a team of experts monitoring everything so it continues to run seamlessly (along with all your business processes).
5. Take Advantage of Cloud Solutions
You opted to integrate NetSuite into your infrastructure because it doesn’t require hardware maintenance. Plus, you can access all of your vital data in the cloud.
But are you truly making the most of your cloud solutions? You want to ensure you’re maximizing the use of NetSuite. A qualified team will know how to optimize it to meet the needs and goals of your business.
6. Increase Your Cost Savings (& ROI)
A lot of money goes into tech and even more goes into the issues that arise with it. Companies that don’t proactively mitigate problems before they arise will continue to hurt their finances.
When you hire a NetSuite managed services team, you can focus more on the operations of your business without worrying about costly malfunctions. This, in turn, helps to reduce costs and boost your ROI.
7. Get a Guaranteed Service Level Agreement
Small businesses don’t normally have the funds to hire an in-house IT team. This leaves them vulnerable to lingering tech problems that can turn into a chaotic (and expensive) situation.
When your ERP software doesn’t run smoothly or optimally, then you’re left frantically looking for someone to help externally. But you won’t have to worry about any of this when you use NetSuite administrator services.
You’re given a guaranteed service level agreement, which means you have access to the help you need whenever you need it. And best of all, the IT team is remote. There’s no additional office space to acquire and pay for.
Whenever something goes wrong, your NetSuite administrator will be able to take care of it from anywhere.
8. Expert Guidance for Future Road-Mapping
After your NetSuite integration, what’s next for your business? How will you use the software to improve your business functions? Maybe you plan to use it for customer relationship management (CRM).
Or, perhaps, you want to use all of its features across all departments. Whatever your needs, it’s good to have experts there to guide you through the process of developing a future roadmap.
This is critical because it sets the foundation needed to ensure the success of your ERP implementation, as well as your business.
9. Receive Proactive Support
You don’t want to wait until something bad happens to reach out for support. Yet, this is the reality you face when you don’t have a proactive support team to back you up.
With proactive support, you’re getting assistance to keep things running fluidly. Why is this essential?
Because it’s proactive — not reactive. Think of it as giving maintenance to a car. You want to provide all the support you can give it — oil, transmission fluid, gas, etc. — so that it operates accordingly.
If you wait until the car runs out of gas to fill it up or pops a piston before giving it more oil, then this reactive. You’ll constantly face problems because you’re not actively finding ways to keep the inner workings of your business running seamlessly.
Is it Time to Get NetSuite Managed Services?
If any of the above reasons resonate with your company, then the answer should be a resounding yes.
There’s no reason to put your business at risk of unnecessary tech issues. Nor should you overspend on an internal IT team to manage these problems.
Businesses that want to gain a competitive edge will need solutions that can keep processes and functions well-oiled so it operates without hiccups.
Ready to learn more about NetSuite administrator services for your ERP solution? Then it’s time to connect with our experts.
Contact Zanovoy today to learn how we can help enhance your NetSuite implementation.