erp migration

How to migrate from Xero to NetSuite

Products like Xero provide easy to use and inexpensive accounting functionality for both start-ups and small businesses. However, as companies begin to grow and prepare for the future, the limits of entry-level software packages may start to cause frustration.

Whether the complexity of managing your operations has increased, or you are looking to expand as a business, migrating from Xero to NetSuite could make your day-to-day lives a whole lot easier (and more efficient too).

Here you will find the differences between Xero and NetSuite, the benefits of migrating, and how you can achieve a successful migration.

The differences in Xero vs NetSuite

When it comes to accounting, Xero and NetSuite are very similar and provide full accounting capabilities. Accounts receivable and payable, invoicing and billing, expense tracking, integrated banking, tax managements, reconciliation, payroll, budgeting, and forecasting are all included with both solutions.

Although both Xero and NetSuite are ranked highly as online accounting solutions, their capacity and objectives differ. Xero aims to solve daily accounting in a single and easy-to-use platform, while NetSuite is part of an integrated ERP/CRM suite consisting of a wider range of services, such as:

  • Complex accounting functions such as fixed assets, multi-book accounting, recurring billing, and rev recognition.
  • Support multi-subsidiary consolidation.
  • Multi-company management
  • Multi-language management
  • Multi-currency and multi-country tax compliance.
  • Advanced and integrated financial reporting.
  • Built for growing businesses that have scaled in transactional volume.
  • Audit trail visibility
  • Ecommerce
  • Project management
  • Business intelligence
  • Order management
  • Demand planning
  • Work orders
  • Procurement Approval Workflows
  • SuiteBanking

Given NetSuite can offer a wider range of services,  expert knowledge is recommended to implement the solution.

With help from an implementation specialist, you can achieve an efficient and effective solution for your business.

But before we jump into how successful integration can be achieved, let us look at the benefits moving from a dedicated accounting system to a full ERP solution can have on your business.

  • Flexibility with integrations: As a highly configurable cloud ERP solution, NetSuite is capable of integrating with many platforms and can be customised to the unique and dynamic needs of your company.
  • Automation: A key aspect of NetSuite is its capabilities to handle automated techniques. With enhanced automation facilities, you can eliminate manual processing errors, increase business performance, and simplify operations.
  • Business Intelligence: Using business intelligence, NetSuite offers real-time reporting and analytical tools to help you forecast and make data-driven decisions for your business.
  • Complete finance and accounting: NetSuite provides efficiencies to manage the processes associated with finances and accounting for increased performance attributes. Real-time financial management is also included to help your business manage financial transactions and data on a real-time basis.
  • Efficient business management: As a top ERP solution provider, NetSuite, along with SuiteApps available, gives you high-end capabilities to generate growth in several business operations.

Implementing NetSuite

When you are ready to make your commitment to NetSuite, there are various ways of going about your implementation.

For smaller, less demanding implementations, SuiteSuccess can be purchased and utilised for an out-of-the-box solution. SuiteSuccess delivers:

  • Pre-configured functionality based on leading practices for your industry
  • Pre-built dashboards
  • Pre-built roles, with software set-up based on job functions
  • Pre-built reporting
  • And more

For more complex, tailored solutions, bringing a specialist partner onboard will give your business the help and experience needed for a successful implementation.

But regardless of your decision, your entire implementation strategy will consist of planning and preparation, data migration, testing, and training, ready for your go-live date.

Looking to migrate from Xero to NetSuite?

If you are looking to migrate over to NetSuite and require assistance to assure a smooth project, contact our expert team at Linked today. With over 40 years of experience, we will work closely alongside you to provide a platform that allows your business to grow.

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