PIVOT YOUR BUSINESS
The pace of change in business today is unprecedented. According to recent research from Boston Consulting Group1:
This is Quite a Wake-up Call for Business Leaders Across All Industries
Think about it. Businesses have a one-in-three chance of not making it through the next five years. As Boston Consulting Group astutely points out, this falls within the typical tenure of a Chief Executive as well as a standard time horizon for investors. 50 years ago, this same risk would have been only 5 percent.
“We’ve seen phenomenal growth in our business and, as we look to expand and transform the food delivery experience, we know NetSuite’s global capabilities will allow us to quickly and easily expand into new countries and take advantage of the ever increasing demand for food delivery services.”
Beyond the obvious, what does this all mean for modern businesses? For starters, it has never been more important to match company vision with current market dynamics and continuously adapt as circumstances change. Otherwise, companies are likely to experience deteriorating performance and productivity that could require risky transformation initiatives.
The Quick are Disrupting the World
The good news is that there are vast opportunities available to businesses of all types, sizes and across geographies that are prepared to move fast, pivot when needed and seize their moment.
In Virtually Every Industry, Separating the Winners and Losers Starts with Having a Strong Vision
This is all about visualizing a broad roadmap your company establishes, executes and adapts in pursuit of its strategic objectives. This vision should cover all critical aspects of the business—the products or service you deliver, the customer needs you meet and the technology platform you use to manage and grow your business. Financial and business management choices made to support vision can profoundly influence a company’s fortunes as it matures and the need to adapt becomes greater. Simply put, is the business equipped with technology that enables it to move fast and accelerate growth?
Running our business on a highly flexible and adaptable platform like NetSuite enables Pebble to scale more seamlessly and helps position us to achieve our longer term goals. As one of the front runners in the charge for on-the-body computing, we are constantly evolving our business process in order to stay ahead. NetSuite lets us handle our rapid growth and scale needs and allows us to keep our steadfast focus on continuing to build and deliver great products and customer experience.
Chief Financial Officer, Pebble
Take for example a 10-person startup business looking to use software to manage its financials. Turning to QuickBooks initially is by all accounts a reasonable choice that offers a company of that size the basic functionality it needs and some room for growth. However, as growth accelerates and financial processes become more complex, the company will be very quickly forced into deploying standalone applications and customizing spreadsheets. It will not be long before these non-integrated processes and ad-hoc applications begin to impact performance and hinder productivity. There has to be a better way.
An important development for modern businesses is that cloud computing has come of age. Evidence of this from independent sources is virtually everywhere:
• Spending on cloud computing infrastructure and platforms will grow at a 30 percent CAGR from 2013 through 2018 compared with 5 percent growth for the overall enterprise IT (Goldman Sachs).
• By 2016, there will be an 11 percent shift of IT budget away from traditional in-house IT delivery, toward various versions of cloud computing as a new delivery model (IDC).
• By 2018, more than 60 percent of enterprises will have at least half of their infrastructure on cloud-based platforms (Saugatuck Technology).
"We felt that having a single, cloud-based system worldwide with NetSuite would be an ideal solution for our business. The ability to scale the company very quickly with a system that allows the rapid introduction of new entities has been very valuable. The ROI with NetSuite was considerably better than its closest competitor.”
Chief Financial Officer, Zendesk
There are clearly some very significant advantages to a cloud platform:
• Quick and affordable deployment
• Ease of administration and management
• Highly flexible with built-in intelligence • Unified view across the business
As a pioneer in cloud computing and one of Forbes’ most innovative growth companies in 2015, NetSuite uniquely understands the power and value of a cloud-based business management software. We also put our money where our mouth is and run our business on NetSuite, today having grown to over 4,100 employees serving more than 24,000 organizations and subsidiaries—midsize to large enterprise—all over the world.