As small businesses struggle to manage growth, some are also finding it challenging to maintain the bits of knowledge found within a family-owned business, or even one that embraces all the attributes of small-company culture, as noted in the Wall Street Journal .
One expert on company expansions noted in the article:
“Continually evaluate internal infrastructure and operations. While fast growth is very good, growing faster than your infrastructure can handle it can be problematic. Have the courage to pause growth if necessary while the company re-engineers its systems, policies and procedures to accommodate continued expansion.” Sharon Hadary, founding and former executive director of the Center for Women's Business Research
Furthermore, and if controlling expansion means hiring more employees because of inefficiencies running rampant throughout the organization, then the owner of that small manufacturing or distribution company, for example, needs to reset his business model in a number of areas.
If the business is project oriented, then controlling costs from start-to-finish by implementing the business solution should be a major focus to improve revenue streams. As such, only the best cloud accounting software, like the NetSuite platform, should be considered. This business software suite with its combined ERP and CRM scalable modules, is in use by more than 24,000 organizations worldwide.
Ideal for companies eyeing that next level of expansion, NetSuite provides the best cloud accounting software solution, one that is easily customized with automated updates to eliminate IT hours for maintenance and upgrades.
Moreover, the suite's solid reputation as the best cloud accounting software on the market is well-earned. The backbone of its accounting features includes a real-time DashBoard to track key projects, as well as a the benefit of meaningful analytics of company financials.
To receive a free demo, and learn more about the ease of implementation this cloud accounting software offers, contact us.
Written By B.H. (Sales Team)