Business owners with outside sales people count on various methods for tracking their expenses. According to a recent Financial Decision Makers survey, 38 percent still use paper in submitting expense reports, while 26 percent used a corporate card. Excel was used by 23 percent of the respondents.
No doubt, manual expense methods take more time to collate and are more prone to inaccuracies due to the number of hands that must process the reports. Consequently, the time devoted to tracking these expenses without the use of today’s financial management tools, like cloud-based NetSuite, can impact a company’s profitability.
The importance of cloud-based accounting options goes beyond basic expense management, as noted on IT Business Edge:
“…operational processes (like) sales, accounts receivable, and accounts payable (AP) is now an achievable goal for SMBs. Gone are the days when being small meant having to deal with disjointed and generally inefficient, paper-based processes…(furthermore) there is tremendous value in using cloud-based solutions to move key resources away from the more tedious and tactical tasks to the higher value activities that have a much greater business impact.” Concur and Ardent Partners
Netsuite is not a new player in financial accounting software. With over 24,000 deployments in over 100 countries, their Web-based platform provides 24/7 access to a proven management suite for tackling ERP, financials, CRM and eCommerce tasks.
What’s more, a client’s data residing in the primary, Netsuite data center is replicated and synchronized to meet Disaster Recovery ‘best practices’ strategy—all data is backed up automatically for storage offsite.
More importantly, the platform uses standard 128-bit encryption as well as enterprise-grade password policies. In addition the suite incorporates role-based field-level security…and more.
Contact us to learn more about NetSuite and how it can help your company.
Written by B.H. (Sales Team)