How did things go with this?
I've been tasked with researching a move to Netsuite. I used it as a finance system in my previous company and got a reasonable amount of knowledge and was heading towards superuser territory whilst not being involved in the more technical setup as there was a designated team for that.
I'm more of a systems accountant in the current role and so would be looking to lead any migration/setup.
Well I’m still in the role, so can’t be all that bad. It’s certainly been a challenge getting to grips with a new system whilst sorting out a lot of historical issues and handling an IFRS conversion and first audit, oh and did I mention it’s for multiple separate companies with a convoluted holding structure?
, - still got a long way to go but hopefully most of the 12 hour days are behind me now. It’s ended up as more of a controller role all be told - definitely good experience to step up from and I did say I didn’t want to be bored.
My thoughts about NetSuite would be to avoid going to them directly; find a good local consultant who can help you set it up properly in the first place - because it’s a pain to unravel things retrospectively. ACS aren’t great in my experience so far, NetSuite Support is better but I’ve actually found researching things myself in their documentation and elsewhere has gotten me most of the answers I’ve needed. Generally only needed support when something hasn’t worked as per their documentation. It hasn’t helped that our Oneworld account is technically overseas so all our contacts are in a different time zone to me and they don’t offer anyone local.
I’d also aim to conduct a thorough review of your current processes before starting to even think about moving. Map everything out in inconsequential detail because there will be things that need to be done differently in NetSuite and it’s better to know about them in advance rather than finding out about them after you’ve gone live.
It’s also wise to think outside of the finance function because integrating with other systems (Salesforce etc) isn’t cheap or easy and only gets more difficult as time goes on and you’ll need all the buy you can get from other stakeholders.
You’ll also need to budget for not only NetSuite but also third party SuiteApps because a lot of functionality which is now common in cloud accounting isn’t in NetSuite natively yet (or not at the same level). The way it does a lot of things is annoyingly unintuitive so ideally you’d want someone who can take care of all that admin who isn’t also responsible for other finance functions (setting up roles, permissions, workflows, saved searches, reporting, etc). I’d aim to get the basics done to begin with and then treat further integrations and automations as new process improvement projects.
Ping me a message if you want to know anything specific.