In part one of our series, Optimize NetSuite with Charted, we established how organizations end up requiring a NetSuite optimization project, the first steps of developing a project overview, meeting the team, defining the scope, and establishing project governance. After those items have been established, a thorough analysis of the current processes is performed, starting with the big picture of the goal and drilling down into the minutia of every step that is involved in how an organization uses their NetSuite instance.
What’s next?
After cataloging the details, Charted provides a summary of changes they consider critical to meeting the project goal. The team then prioritizes the changes, with consideration given to both budget and timeline. Team conversations about hot-button issues will inevitably unearth additional pain points and identify a future wish list for smarter, smoother workflows. Discovering these new optimization scenarios is an important benefit of the project and acts as a roadmap for further improvement.
Review recommendations
With a list of prioritized items, the Charted team develops and presents a project plan. Process narratives are written for each item the team chooses to address, including how improvements will be made and the controls and workflows needed. Flow charts are created to depict process updates. For example, when an invoice is received and paid, what are all the steps in between and how will NetSuite automation improve it? Because process steps can change over time, a clear, living flow chart is helpful.
The project plan also identifies steps for NetSuite configuration, testing, and deployment of the changes. With an AP process improvement project, some companies implement Charted AP Automation, a NetSuite-native financial automation platform that supports vendor management, streamlined invoice processing, dynamic workflows, automated approvals, secure payments, and expense accruals based on every single transaction in your system.
Execute recommendations and go-live
With full team agreement, Charted consultants begin the project’s execution phase. Migration of all applicable data from the various point solutions is step one and critical to optimization success. With everything in NetSuite, financial reporting is streamlined, and triple-checking the numbers each month is no longer necessary. Audits will seem a little less daunting; efficiencies will grow. Thorough testing is done before any data and process changes go live, and questions are addressed with the team beforehand.
Maximize your NetSuite ROI
One of the greatest benefits of operating in NetSuite is the endless customizations available to suit your specific business needs. But with the level of customization also comes complexity, additional room for error, and enhanced documentation needs for team adoption. An optimization project with Charted helps organizations discover ways to operate within NetSuite more effciently, with greater acuracy and control.
NetSuite delivers comprehensive, centralized management of your business and financial processes and powers strategic decision-making. But it’s also a big investment. To ensure your organization is harnessing its full capabilities and enjoying high ROI, optimize your environment with the experts at Charted.
Click here to learn more about Optimization Services, and to read a real-life example of the huge impacts realized with optimization, learn how Syndigo used NetSuite to consolidate operations after multiple acquisitions here.
