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]]>Migrating employees to new systems, rules, and procedures is a critical process that requires careful planning and execution to ensure a smooth transition and minimize disruption to operations.
To address these challenges and ensure a successful migration, here’s a list of essential steps for a successful ERP Change Management Plan.
Here is a list of must haves in an ERP Change Management Checklist as follows:
Access impact of change.
Approach all levels of management in this study to build a case for change.
Identify opportunities and risks of the new platform and its suitability to existing business processes.
Understand your current workforce age dynamics before bringing in the new ERP in effect. Older generations are always reluctant to change and will take a considerate amount of time to adapt and accept the new ERP. Conduct a readiness assessment to analyze the bandwidth for it.
A change needs to be handled in a proactive as well as sensitive manner. Organizations need to identify and bring in leaders to make this process filled with trust and impact; both!
Tailor your messages as per the audience.
Put up disclosures, milestones, objectives, and transition processes in an order with the current workforce.
Develop a trust amongst employees for the end goal of adapting to the new system.
Address employee fears and concerns.
Give employees a breathing space into their new roles in the system.
Arrange group training sessions explaining all the security norms while implementing the transition process.
Perform onboarding training sessions for the new active system in place.
Engage employees in system audit activities to understand the system better and self-monitor their work.
Customize your ERP training. Introduce online and offline training schedules to suit every employee’s comfort.
An effective ERP Training Strategy can go a long way towards mitigating employee resistance.
Thus, an ERP Implementation can be simple, or complex based on the various factors like size of the organization, crowd of the organization and a willingness of managing the transition chaos in the system.
However, not taking charge of an ERP change management can blister a serious ERP failure!By prioritizing ERP change management, you can equip your workforce with the confidence to embrace the new system.
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]]>This blog post is for you if you want a clear and comprehensive understanding of NetSuite’s planning and budgeting capabilities. We will be exploring the various components of its business system involved in budgeting—including budget creation, approval workflows, resources tracking, cost management, reporting features, and more—and providing tips on how to use them best. Whether you’re a seasoned NetSuite user or just getting started with the platform, this post provides an overview of the primary considerations when working with NetSuite’s planning & budgeting suite so that you can ensure your organization’s success.
NetSuite Planning and Budgeting is a toolset that allows you to monitor and manage your organization’s financial performance. It allows users to create accurate budgets and track actual costs against these projections. This helps organizations stay within their budget while also allowing them to quickly identify areas where additional funds may be needed.
NetSuite Planning and Budgeting has revolutionized how finance teams produce budgets and forecasts. This cloud-based solution uses automation, eliminating much of the laborious and time-consuming tasks that bog down planning and budgeting. Businesses can quickly and easily model their desired scenarios for budget forecasting, enabling them to make crucial financial decisions in a much shorter period. Moreover, with its collaborative platform, all employees can create reports within one system, so everyone is always on the same page.
NetSuite Planning and Budgeting features allow users to manage their budgets efficiently. It offers flexibility in budgeting, allowing users to enter data in various ways and quickly update or adjust any information as needed. Below are some of the key features available with this suite:
One of the most important aspects of budgeting is creating an accurate forecast for your organization’s finances. With NetSuite, you can create a budget that reflects your business’s current state and any projected revenue or expenses changes. This helps ensure that your budget is up-to-date and accurate, essential for making sound financial decisions.
NetSuite Planning and Budgeting includes built-in scenario planning and modeling capabilities that make it easy to explore different budget scenarios. This allows users to effectively predict future changes in expenses, revenues, or other key variables so that they can plan accordingly. For example, suppose a business is looking to invest in new technology or launch a new product line. In that case, it can use NetSuite’s modeling capabilities to predict the impact of these changes on its budget.
NetSuite allows you to create approval workflows to review and approve budget items quickly. This helps ensure that budgets comply with your organization’s policies and regulations and reduce the time spent manually reviewing each request. Additionally, NetSuite’s workflow capabilities allow multiple levels of approval to be configured so that all necessary parties can review that budget item.
NetSuite’s Planning and Budgeting suite allow users to create accurate projections of their future revenue. This helps organizations plan for changes in the market or other factors that could impact their income, ensuring they can adjust accordingly and remain profitable.
NetSuite’s Planning and Budgeting suite also allow users to track their operational expenses. This helps ensure that organizations stay within their budget, highlighting any areas where additional funds may be needed. Additionally, it allows users to quickly identify any discrepancies or issues in their financial statements so they can be addressed promptly.
NetSuite’s Planning and Budgeting suite also include workforce planning capabilities. This allows organizations to accurately forecast their future staffing needs, helping them determine the staff they need and plan for any changes in the coming months or years. This helps ensure that their business is adequately staffed and prepared for any changes in the market.
NetSuite Planning and Budgeting enables users to synchronize data from other applications and departments of NetSuite ERP into one centralized system. This helps ensure that all of the data used for budgeting is accurate and up to date, helping organizations make more informed financial decisions.
NetSuite Planning and Budgeting can be easily integrated with Microsoft Office, allowing users to quickly create presentations, charts, and other visualizations that help tell the story of their budget. This makes it easier to share budget information with stakeholders and helps ensure everyone is on the same page when making financial decisions.
NetSuite’s reporting capabilities allow you to quickly and easily generate reports that provide insight into your organization’s budget performance. These reports can be tailored to fit specific needs, such as highlighting areas underutilizing funding or focusing on upcoming expenses. NetSuite allows users to export their reports into various formats—including Excel, PowerPoint, and PDF—for easy sharing and analysis.
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NetSuite Planning and Budgeting is a powerful tool that can help businesses of all sizes manage their finances and plan for the future. Here’s why you should consider using NetSuite Planning and Budgeting for your business.
NetSuite Planning and Budgeting helps save time by automating many tedious tasks associated with budgeting, such as data entry, calculations, analysis, etc. This means you’ll have more time to focus on other essential aspects of your business. Additionally, with the ability to quickly plan for the future, you’ll be able to minimize costly mistakes or delays.
NetSuite Planning and Budgeting also helps improve accuracy by eliminating manual errors from traditional budgeting methods. Additionally, its in-depth analytics capabilities allow you to quickly analyze data from multiple perspectives to make better decisions faster. This means you’ll be able to make decisions based on actual results rather than guesswork or assumptions.
Finally, NetSuite Planning and Budgeting offers real-time tracking and reporting features that give you greater visibility into your financial performance so you can quickly identify opportunities or areas of improvement before they become significant issues. With this feature, you’ll be able to track progress against goals in real-time and make adjustments necessary to meet those goals.
NetSuite Planning and Budgeting is a powerful solution that can help businesses of all sizes manage their finances, forecast for the future, synchronize data from multiple sources, and generate reports to gain insights into budget performance. With NetSuite Planning and Budgeting, you’ll be able to save time, money, and resources while increasing accuracy and efficiency. This makes it an excellent tool for businesses looking to optimize their budgeting process.
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]]>Love to build stuff — products, systems, teams, organizations, and occasional Lego sets with my kids ;)
Ex-VP Engineering at Oracle, VP R&D at Ravello Systems, IDF’s Unit 8200.
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]]>Bonjour, SuiteWorld 2021!
OdeCloud is absolutely ecstatic to be welcomed back in Las Vegas for Oracle SuiteWorld 2021, this time with an even larger presence. We’ve been busy taking advantage of every opportunity to network with potential clients, inform potentially new community members and even meet up with our community members for in-person festivities.
RELATED POST — OdeCloud Shares SuiteWorld Insights from Day 1 on LinkedIn
As both the best online community of expert NetSuite consultants and a growing NetSuite service company, we just knew we had to come to SuiteWorld this year with an even bigger and better approach than last year — most especially if we want to make an even more significant splash next year!
It’s going to take quite a bit of work before we get there, so in the meantime, please indulge us as we share our top 3 takeaways from Day 1 at SuiteWorld.
Craig West, GVP of Oracle NetSuite GBU’s Channel Sales and Alliances, had the most memorable presentation from SuiteWorld Day 1.
He explained that simply having expertise in NetSuite just isn’t enough from NetSuite professionals; these experts need to continue to learn about and immerse themselves in the entire ecosystem that Oracle NetSuite has built.
And it makes sense: NetSuite has invested a great deal in the Solution Provider Program and the SuiteCloud Developer Network (SND), which aim to give developers the space and resources needed to expand NetSuite or cover the gaps.
The primary goal here is to get NetSuite to to the point where it’s easy to assist clients with plug-and-play solutions through software partners.
Base case scenario: at most, only 20 percent of the ERP will ever actually need to fully customized to fit a NetSuite client’s unique needs.
Liz Herbert, VP and Principal Analyst at Forrester, had an incredibly relatable presentation for Day 1 at SuiteWorld, discussing why IT professionals need to deliver work based on value rather than billable time.
Businesses are always hoping for projects to be completed as fast as possible, which doesn’t necessarily bode well for NetSuite professionals who are capable to deliver invaluable work in very little time. On a related note, billable time doesn’t always inspire professionals to deliver that kind of value for every project.
Herbert argued that one way NetSuite professionals can deliver on value is by specializing in a vertical and bringing their client continuous insight on that vertical/industry, trends and best practices. Businesses are expecting more packaged and vertical solutions, as well as more strategic consulting to help them implement those solutions.
This directly lines up with what OdeCloud is all about: We primarily deliver work using a renewable subscription model rather than dealing with the hassle, inaccuracies and discrepancies associated with billable hours.
SND spent the last year building a new interface for app development and distribution, which means it’s easier than ever to build NetSuite solutions and apps.
However, they’ve also tightened up the process to become an SDN partner. Put simply, they require their SDN partners to have a full product suite, as opposed to a simple patch to the gap in NetSuite.
This puts NetSuite developers in an interesting position, so we’re intrigued as to how this will shift the current status quo.
To summarize our takeaways from SuiteWorld Day 1, it appears as if businesses are looking for their NetSuite professionals to provide value beyond just configuring and customizing NetSuite.
They are looking for their NetSuite professionals to be IT thought leaders capable of consulting them on everything related to their respective business. They are looking for experts willing to strategize and think two steps ahead as opposed to your average NetSuite admin.
But that’s all for our takeaways from SuiteWorld Day 1. Stay tuned for our next update, and thanks for reading.
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