With this holiday season approaching, let us put aside our shopping “To-Do” lists and focus on what really matters – turning your maturing company into a real market player. Gaining market share, building top-line growth, or even maximizing profitability may all be on your wish list. Therefore, it’s time to start 2018 on the right foot. There is no exact checklist to complete. There is not a clear, distinct path for your to take, but you can always take a few, well-planned steps in preparation.
Rapid growth may feel like a rollercoaster. You have your ups and downs, but by incorporating a few key improvements to your systems and processes, you can ease your organizational burdens and create sustainable progress. As such, we have compiled some of our clients’ favorite 9Gauge best practices to add to your wish list. Take your business to the next level in 2018.
Favorite Scalable, Customizable, and Integrated Systems:
ADAPTIVE INSIGHTS: Plan, Budget, Forecast, Report… Make better business decisions.
“With better accountability and transparency, we’re able to explore new opportunities. We are in a much better decision-making position to manage through the year and position ourselves for multiyear planning.” – Nathan Taylor, VP FP&A for the Leukemia and Lymphoma Society (LLS)
- Successfully improving planning and forecasting drove 116% book value growth over three years (Source: Accenture).
- Organizations that use analytics are proven to be more productive and more profitable than their peers – and grow 2X faster (McKinsey).
- Excel just isn’t a feasible option for managing your financials as you grow. With the right SYSTEM, you can Save Yourself Stress, Time, Energy, and Money. Remember that.
- See what P.F. Chang’s CFO and other finance executives said after switching to Adaptive Insights.
NETSUITE: Integrate your operations for actionable insights
“We were looking for an agile platform that enables us to handle the complexity of global multi-channel commerce and we were impressed by the capabilities of NetSuite SuiteCommerce…from both a functionality standpoint and a technology perspective.” – John Strain, CIO for Williams-Sonoma.
- NetSuite is the leading integrated cloud business software suite, including business accounting, ERP, CRM and ecommerce software.
- With 9Gauge’s NetSuite implementation services, mid-market business leaders nationwide can better communicate their sales, operations, and financial data – all from one place.
- Read more about Eduphoria’s drastic change in data insights after adding NetSuite.
AVALARA: Tax compliance software… Automate your sales and use tax
- TechValidate surveyed companies that use Avalara’s sales tax automation software and found that, on average, these companies reduced the time spent managing sales and use tax by 50% or more.
- Some AvaTax customers saw even higher results—cutting their time from 20+ hours to <1 hour.
- Read more about the competitive advantages of sales tax automation in this whitepaper.
Other financial operational improvements include:
Consider uploading standard chart of accounts
- Default chart of accounts (CoA)’s within QuickBooks doesn’t offer the capability to build around your business drivers – nor does it even use account numbers. Focus on how you can turn yours into a scalable option that helps with smarter decision-making
- Check out our piece on the benefits of a custom, scalable CoA
Keep up with regular (rolling) forecasts and financial updates
- Maintaining real-time Budget vs. Actuals comparisons (preferably in a cloud solution) allows your entire leadership team to be informed about the day-to-day and big picture. That way you can assess your financials more easily.
- Here are 5 steps to getting your business on board with rolling forecasts
Little changes to your processes go a long way
- Consider Bill.com and Expensify as tools to better track and enhance both payments and transactions. 9Gauge clients all may benefit from the firm’s direct partnership with both.
- Read more about our software partnerships for middle market (and aspiring) companies
Knowing where you want to be goes a long way. You may not know exactly what you need or what you are missing, but we can help. Want to know more about how 9Gauge can help support your team? Check out other solutions that we offer. Also, feel free to read more about our fastest-growing clients’ experiences here.