Build a CFO-Ready ERP ROI Model

Want to get buy-in from your CFO? Learn how to build an ROI model that makes ERP worth the investment.

Introduction

ERP should not be treated as a sunk cost or IT upgrade—it should be evaluated as a strategic investment. Forward-thinking CFOs increasingly demand a detailed ROI model before signing off on ERP selection. According to Panorama Consulting Group, 83% of organizations that conducted ROI analysis before implementation reported that their ERP project met or exceeded their financial expectations[1]. This blog outlines five steps to build a CFO-ready ERP ROI model that delivers confidence, alignment, and clarity before making a major ERP purchase.

 

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The construction industry presents unique challenges that can be difficult to navigate. Tasks such as managing labor and material procurement, handling billing worksheets, ensuring smooth payroll processes for both unionized and non-unionized workforces, and reporting on project profitability can be overwhelming.  

Tags: NetSuite, ERP, Reporting, NetSuite How To's, Acumatica, cloud-based ERP, Business Benefits, Cloud ERP, Acumatica ERP, Netsuite ERP

Construction companies face unique challenges due to the complexity of their industry.  Everything from ensuring labor and material is procured and scheduled properly, managing the in progress billing worksheets, ensuring payroll goes off without a hitch in union, non-unionized workforces and certified payroll situations and being able to report easily on the profitability of a project. 

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Are you looking to get the most out of your NetSuite investment? If so, you should consider engaging a NetSuite partner. NetSuite partners are experienced consultants that can help you get the most out of your NetSuite implementation, integration, and training. In this article, we’ll take a look at the role of a NetSuite partner, the different types of services they offer, and how they can help you unlock the value of your NetSuite investment. 

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Project accounting is a critical aspect of managing business projects, as it involves tracking the financial aspects of individual projects. With the rise of cloud-based software solutions, it is now easier for businesses to optimize their project accounting processes, especially for growing organizations. One such software solution is Acumatica, which provides project accounting features integrated with its powerful cloud-based ERP platform. 

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As businesses continue to evolve and grow, it's essential to have a robust financial management system that can handle the complexities of project-based accounting. This is where project management software with accounting features comes into play. One of the leading providers of this type of software is Acumatica, which offers a range of features that can benefit various industries.

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For over a decade, Concentrus has been helping organizations select alternatives to Quickbooks and migrate to a modern cloud-based ERP like NetSuite and Acumatica. 

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Concentrus has been helping organizations transition from QuickBooks to a modern cloud-based ERP like NetSuite for over 10 years.  Below are 6 ways NetSuite is better than QuickBooks.  Consider these as during your search for alternatives to QuickBooks. 

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ERP implementation is a significant undertaking for the majority of organizations. ERPs touch every aspect of your business and add value by connecting departments and providing real-time data. And, while ERP implementation should be a top priority, many organizations cannot afford to dedicate a dedicated resource solely to implementation. Furthermore, having a single resource may not be optimal because there are multiple subject matter experts whose expertise should be considered. 

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One of the first questions organizations ask when considering switching to a world-class cloud ERP like Acumatica or NetSuite is, what will it cost?  It’s important to know the cost will be broken down into a three main pieces.   

Tags: NetSuite, ERP, Reporting, Acumatica, cloud-based ERP, Business Benefits, Cloud ERP, Acumatica ERP, Netsuite ERP