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Company: NetSuite
Published: July 2007
Small and middle-market companies are the lifeblood of the economy - in all regions of the world. But many of these companies today feel the need for a transfusion - the operational boost that can move them to a customer-focused business with the ability to grow even larger. These small and mid-sized businesses (called SMBs) have many of the same business requirements as large corporations; they may be smaller or employ fewer people, but they can have equally complex business processes.
Unlike the Fortune 1000 that use large enterprise applications, today's SMBs are more likely to have a hodge-podge of software products in use in their business. The ramifications include lost productivity in work hours spent re-entering data manually and attempting to consolidate data from the disparate systems; extremely high error rates, as manually entered data is highly prone to mistakes; lack of visibility to the information necessary to make decisions; and outgrown applications that cannot scale to allow the business to grow. And unlike large companies, small and mid-sized businesses face the realities of smaller budgets, fewer IT resources, and zero tolerance for risk. They cannot withstand the long implementation timeframes or the cost of the ERP solutions that are the mainstay of large corporations.
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