How NetSuite can help businesses go global
We sat down with our resident industry expert Andrew Sleath to discuss barriers business face when expanding and how NetSuite can help businesses achieve this.
What does Globalisation mean to you?
Globalisation means you can transact and trade on a global market. You are able to operate your business anywhere in the world but it also means you can sell to anywhere in the world. Your customers can be located anywhere and they can buy products and services. Additionally, you have the ability to accumulate suppliers around the world.
Most organisations want to grow their businesses to increase profits and grapple with expanding their channels to market. It’s about being able to diversify your business and look at the market to explore opportunities out there. Some companies have a product that they believe is so good that they can take it around the world. Klugo did this. We built a Field Service solution, NextService and believed there was a market in the United States. By selling NextService into the US market, we expanded our business globally.
Globalisation is not just about selling products into different countries – there is also an import supply perspective. I think there is that notion that “if I can import my supplies somewhere cheaper, that in itself is globalisation, because I am importing from other countries and I might want to do it from many countries.” Many Managing Directors think about importing, but how many think about importing from multiple countries?
If you only use one international supplier, there is a lot more risk associated than having a supplier from say Italy, and another from China.
If you were a Managing Director, how would you prepare your business for Globalisation?
Having conversations with business executives about where their business is going, where they’re at today and where they would like to be is an important first step. They need to stop and think about that from their customer perspective.
Industries are becoming so competitive that businesses are now considering what they should do – If they cannot provide an interface like eCommerce to their customers that’s multilingual then they will not survive international markets.
Businesses think that their systems are the least of their worries. They often oversee that technology can be the key driver for success.
Companies tend to implement system after system thinking that it will help their business run more efficiently – they then have multiple disparate systems operating. They get to a point in the cycle where they don’t know what to do and it’s often too late to make the change. They need to think about the technology that can consolidate their systems and improve their overall business efficiency.
How can NetSuite help businesses achieve Globalisation?
Globalisation allows organisations to extend their products and services worldwide. NetSuite being a cloud-based solution allows people to then use it from anywhere they are. A company I am working with has customers in China who want to order their goods online and they can do that without having to set anything up – no servers, no IT infrastructure etc.
Using NetSuite daily in my role has allowed me to see for myself the true benefits that the system has. Even if you’re not in the position to go global, NetSuite is a system which will grow with you as you expand. Whether you offices in Australia or all around the world, NetSuite’s cloud-based functionality means there’s no barrier to opening up really quickly in any country. It is quick to do, and you have your entire business in one system.
NetSuite’s key features to help people go global are:
- Cloud based
- Reduction of IT infrastructure
- Multi-entity out of the box
- Consolidated reporting, increases efficiency
- One view of the customer