Implementing a new enterprise resource planning (ERP) system like NetSuite is a major undertaking that requires careful planning and execution. However, the payoff of increased efficiency and better data-driven decisions makes the effort worthwhile. This guide will explore best practices for organizing a smooth NetSuite rollout, especially for chief financial officers (CFOs) and finance teams navigating the transition.
Lay the Groundwork
The key to success starts by building a strong foundation before the actual software
implementation. Critical steps include:
Assembling the Implementation Team
Bring together subject matter experts from IT, finance, operations, HR and other business units. Outline roles to cover business analysis, configuration, testing, training and change management. Consider supplementing internal staff with external consultants who provide NetSuite experience.
Defining Business Requirements
Document current workflows, pain points, reporting needs and desired future processes. This gives the implementation team a clear vision of what success looks like across the global organization pre- and post-rollout.
Cleaning Data
Examining existing data quality is essential before migrating into a new system. Identify inconsistencies, duplicate records, integrity issues and opportunities to standardize data for maximum accuracy in NetSuite.
Establishing Governance Rules
Balance standardization that drives efficiency with flexibility that empowers different business units. Governance decisions around configurations, custom fields, changes and additions require buy-in across the organization.
Creating Rollout Roadmap
With requirements defined and data prepared, map out timelines for configuration, customization, integrations, testing and training with realistic milestones that align resources.
Careful scoping and planning sets the stage for smooth execution later. Rushing ahead without this vital upfront work almost guarantees challenges during actual rollout.
NetSuite Configuration Considerations
Configuring NetSuite appropriately from the start enables efficient workflows and reporting. Some key considerations around initial setup include:
Chart of Accounts Structure
Design a streamlined, scalable and global COA that meets the needs of business users without being overly complex. Take time to analyze reporting requirements before finalizing.
Multi-Book Setup
When operating across global subsidiaries, utilize NetSuite’s native multi-book capabilities to capture transactions in both local and corporate books for consolidation.
Multi-Currency Setup
Similar to multi-book, enable multi-currency at the outset for consistent exchange rate management and currency conversion across global operations.
Tax Configuration
Tax codes, nexus rules, integration with tax engines etc. require planning due to frequent regulatory changes across jurisdictions. Leverage external help to build agile tax infrastructure.
Dashboards and KPIs
Configure real-time role-based dashboards and key performance indicators that align with business requirements identified earlier for effective insights.
While NetSuite provides extensive configuration options, striking the right balance between standardization, flexibility and customization is key for long-term success.
Streamlining Rollout with Phased Approach
Rather than a traditional “big bang” rollout across the entire organization simultaneously, take an incremental phased approach. This methodology provides multiple advantages:
⦁ Refine configuration and customization with early phases before full-scale rollout
⦁ Deliver more personalized training and change management for each business unit
⦁ Maintain flexibility to pause/alter approach based on feedback from initial users
⦁ Minimize business disruption by transitioning groups gradually onto the new system
A phased rollout also allows the implementation team to provide additional support for pilot groups getting started on NetSuite first. Their feedback helps ensure that still-pending groups have an even smoother experience launching the system down the road.
Essential Rollout Best Practices
Beyond the major steps already outlined, some additional best practices help govern the rollout seamlessly including:
⦁ Schedule training with enough lead time for users to absorb concepts without forgetting key details before go-live. Structure sessions to be role-based teaching functionality specific to job duties.
⦁ Develop contingency plans for any customizations, integrations or configurations that don’t function as expected post-launch. Have workarounds ready to minimize business disruption.
⦁ Plan for hypercare support immediately after launch to quickly respond to user issues in early weeks of adoption before bad habits form.
⦁ Send regular rollout communications updating all staff on progress. This maintains engagement even for groups not yet transitioned to NetSuite.
While every organization and rollout is unique, following an organized methodology guided by cross-functional preparation and governance ensures CFOs, controllers and their teams seamlessly transition onto NetSuite.
Why Choose Anchor Group for NetSuite Implementation?
Selecting the right implementation partner can make or break a NetSuite rollout. In addition to technical expertise, the ideal partner understands broader operational contexts and long-term business goals that shape ecosystem decisions. This is exactly the advantage Anchor Group provides.
As a 5-Star NetSuite partner with over 500 successful implementations completed, Anchor Group offers both extensive NetSuite technical experience combined with category and industry-specific functional knowledge. Our team takes time to learn each client’s business first, allowing us to guide strategic platform decisions tailored to individual needs versus a one-size-fits all approach.
Anchor Group also takes an agile implementation strategy that emphasizes business outcomes over rigid project plan adherence. This means we:
⦁ Scope projects based on must-have vs. nice-to-have requirements
⦁ Take an iterative rollout approach using rapid prototyping
⦁ Deliver incremental value in release cycles vs. monolithic launches
⦁ Maintain flexibility to pivot strategic roadmaps quickly
These principles allow us to scale implementations according to unique budget and resource constraints without compromising quality or longevity of solutions.
Our clients particularly value Anchor Group’s positive, collaborative culture centered around knowledge sharing not point-scoring. This environment facilitates productive sessions where all parties openly discuss complex challenges to arrive at creative solutions together. Clients also benefit from direct access to thought leaders across various domains from technical developers to subject matter experts.
By combining extensive NetSuite expertise with adaptable, outcomes-focused methodologies and a solutions-oriented culture, Anchor Group stands ready to guide enterprises through seamless platform rollouts that transform operations and prime organizations for scalability.
Contact Anchor Group today to learn more about our comprehensive NetSuite services tailored for your specific business objectives and constraints.
Conclusion
Implementing critical business systems like NetSuite requires meticulous planning and governance to realize full value. By investing in upfront requirements gathering, data preparation, team planning and staged rollout strategies, CFOs and finance leaders can shepherd their organizations through seamless deployments. Partnering with experienced experts like Anchor Group further optimizes success by leveraging proven blueprints tailored for specific operational contexts. With careful coordination and the right partners, NetSuite can elevate global business performance to new heights.