The Benefits of an Embedded Solution

If you’re here, there’s a good chance you’re considering whether a native, embedded solution can outperform the third-party, stand-alone solutions on the market. The answer, quite simply, is yes. At the core of everything in business is the financial system. Within that financial system we of course find all matters of business operations — HR, CRM, billing, tax, inventory, and the list goes on. Having those groups connected to the core with an embedded solution and a unified single database can not only exceed the benefits of standalone systems, it can also save time, money and plenty of potential frustration. Let us explain.

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Today’s ERP can do a lot, but not everything

ERPs, by design and evolution, manage a proverbial boatload of day-to-day business operations. Everything from procurement and project management to HR and risk management and supply chain operations. Admittedly, ERPs are a modern marvel of business innovation that changed the way organizations — big and small — have functioned over the past two decades. Yes ERPs, we salute you. That said, ERPs can’t offer every corporate department a solution to every problem.

The ERP started as a tool for business finance but evolved to serve broader strategic and operations functions for organizations. But in that evolution, the ERP largely ignored the needs of accountants for years. Of course, accountants (being accountants) developed creative solutions and used spreadsheets to solve most problems. Unfortunately, those workarounds led to excessive time spent reconciling subledger after subledger. Not the perfect model of efficiency.

Third-party solutions aren’t much of a party

We know plenty of accountants who get jazzed up creating beautifully elaborate and ridiculously complicated spreadsheets. They are a wonder to behold. Still, there are times when a problem is so complex that spreadsheets can’t handle it effectively. (It’s okay, spreadsheets. We all have our limits.) That’s when accountants and other business managers have historically sought third-party solutions. These solutions, often called “best of breed,” were meant to specialize and outperform many of the all-in-one systems within an ERP. That was sometimes the case.

However, these solutions brought with them other challenges. While third-party solutions may offer added feature functions, they still exist and operate outside of the ERP. That means they still require a subledger and a complex integration within the ERP. Now consider that every integration of a third-party solution is a connection with a potential to break or be exploited by outside forces. That could mean regular audits of policies and other frustrations. Not much of a party, is it?

Integration or added frustration

So, if those third-party solutions need full integration for optimal performance within the ERP, that’s just what you do, right? Not exactly. Developing and executing an integration, as you can probably guess, is both complex and costly. That’s why most companies don’t make the integration. Instead of a single uniform database, companies are still managing multiple, sometimes duplicative databases. And it means the good people in finance and accounting are back to what amounts to a modern version of the old school “batch cards,” manually uploading CSV files into their third-party solution. It’s like putting them in some kind of absurd time warp. Not a good look.

“Best of breed” doesn’t equal best at efficiency

The move slowed down the units slightly, but overall operational efficiency increased by a factor of seventeen.

Want to learn a thing or two about operational efficiency? How about hearing it from a retired US Army four-star general. General Stanley McChrystal tells a story in his book, Team of Teams. In 2004 in Iraq, General McChrystal was the Commanding General of the Joint Special Operations Command and oversaw some of the most elite teams of commandos and intelligence analysts. For a period, his soldiers were seemingly winning every battle but still somehow losing the war. As the US made advances by shifting tactics, the enemy would manage to adapt.

McChrystal determined that although his squads performed their individual tasks with the highest levels of skill and fortitude, they weren’t able to “see the whole system.” Operational roadblocks and typical chain-of-command protocol hindered communication and slowed the sharing of information between teams. The units were independently efficient in their duties, but not as a larger cohesive system. So McChrystal focused on what he called “agility and interoperability” by strengthening the roles of liaison officers and embedding specialists in units.

The lesson in our world? You may be inclined to look for the so-called “best-of-breed” solutions, chasing after a few features. But those third-party solutions are counter to the “agility and interoperability” of an embedded solution. And, what’s possibly more detrimental to your business, you could lose that “factor of seventeen” operational efficiency.

How to make CFOs and the IT department do a happy dance

For years, many organizations adopted the notion that “best-of-breed” third-party solutions were the answer. The reasoning stood that while ERPs might be able to offer a wide-reaching solution to help most corporate departments function, these solutions weren’t ideal for handling the more nuanced and specific needs of any one department. So, organizations began adding lots of third-party solutions, each one bringing with it a layer of complexity and cost — not to mention an ever-expansive spaghetti chart.

Now, times are changing. CFOs have grown frustrated with third-party solutions and the associated costs, complications, and increased risk to business management. Additionally, auditing becomes more complex and costly because auditors are forced to learn third-party solutions. Many of these issues aren’t factored in when choosing “best-of-breed” solutions, leading to added costs and frustration down the road. For good reason, many CFOs are on a mission to reduce the number of third-party integrations and subledgers in their organizations. Embedded solutions are bringing secure, efficient, and cost-effective ways of managing a multitude of corporate departments and functions. And because embedded solutions work seamlessly within a vetted and proven ERP, it makes management easier for IT. And that makes IT happy.

ERPs can’t do everything, and that’s okay with us

It’s impractical to think one ERP could do it all. Organizations are too diverse in their operations and needs. NetSuite understood this early on and acknowledged they were never going to have a system that fit everyone. Still, they made a few critical decisions that would set them — and the rest of us — up for success. They kept financials at the core while abandoning the notion of separate subledgers, instead opting for a single database for optimized data aggregation. And, even more brilliantly for people like us, they built NetSuite as an open system so companies can design functionality to fit their needs. The modern ERP was born.

Today, NetSuite is the leading platform for customization, offering robust tools for companies to tailor-make solutions to fit their needs — directly within a customer’s NetSuite instance. Netsuite tools include SuiteBuilder, with a native ability to create custom records, fields, forms, and roles; SuiteFlow, with an easy-to-use graphical workflow management and point-and-click rules-based automation that requires no coding; and SuiteScript, which delivers flexible scripting models to support customization, and built-in debugging capabilities.

Please allow us to show you our badges

NetSuite recognizes app developers within the SDN with three types of BFN badges. All serve a purpose, but we are, of course, partial to going native.

As the world’s #1 cloud business management suite, Oracle NetSuite brings with it years of trusted, industry-leading experience, security, and access to tools like no other third-party app developer can come close to offering. Netgain is proud to be recognized with two badges of distinction from NetSuite. We are a member of the Suitecloud Developer Network (SDN), NetSuite’s dedicated, end-to-end program geared toward developers offering technical services, marketing, and sales support. Netgain is also recognized with a Built for NetSuite (BFN) badge.

The Hybrid SuiteApp badge means the solutions are a mix of platform resident components and external components. These are separate solutions integrated with Netsuite via custom UI and/or internal and external data.

The Integrated SuiteApp badge means the majority of the solution resides externally to the NetSuite platform. This is a separate solution with data integration to NetSuite via a custom integration, or via a generic connector.

Netgain is recognized with the BFN Native SuiteApp badge. This means 100% or our solution resides on the SuiteCloud platform. Our app is deployed to customers’ accounts via the SuiteBundler. All components are within the scope of BFN review.

To get the benefits and efficiencies of a truly embedded solution, users should always look for the BFN Native SuiteApp badge and look for Native SuiteApps before considering third-party solutions.

How about a slice of pie?

Carl Sagan once said, “If you wish to make an apple pie from scratch, you must first invent the universe.” It’s a deliciously interesting analogy for our business. If you want to build a financial system from scratch, you first have to build the entire infrastructure upon which it will exist. That’s all of the security measures around where the data resides; how you login and how you report it; how you book the journal entries; back-ups and audit trails, and it goes on and on. Then, assuming you’re game for building all of that, you as the customer get to pay for it.

Netgain took a different (dare we say, smarter) approach. We built our solution on an existing platform. And not just any platform; one of the world’s best. As a 100% native NetSuite verified SuiteApp, Netgain relies on Netsuite’s world-class security and data management practices. Netgain manages calculations, but doesn’t access customer data. That means all data lives securely and separately with NetSuite. With their trusted and proven platform as a foundation, we’re able to focus our efforts on creating best-in-class, truly customizable accounting solutions for the smartest finance and accounting professionals, and their IT counterparts. Now, who saved room for pie?

Still need convincing?

We’ve covered a lot and given you a good number of reasons why an embedded app is better. But perhaps you’re still not sure if a native solution is the answer for your organization’s needs. Let us break down the benefits further.

System Administration

No master data duplication

Netgain is native within NetSuite’s single database platform, so there is no management between two separate systems.

Vetted solution

As a NetSuite embedded solution, Netgain is a vetted, verified partner which can save IT departments time and money on due diligence. Netgain is recognized with the Built For NetSuite (BFN) Native SuiteApp badge.

Built for SOC1 audits and greater IT control

With NetSuite storage and backup controls, Netgain delivers clean SOC1 audits, potentially saving auditor costs down the road while granting IT greater control over data and access.

Leveraging existing roles, permissions, and workflows

NetSuite seamlessly integrates roles, permissions, and workflows to maintain internal control consistency. Netgain uses all of that powerful, built-in functionality to make accounting easier than ever.

Increased level of data security

Netgain leverages NetSuite’s vast resources for storage, backup, and restoration of all data.

System Administration

No master data duplication

Netgain is native within NetSuite’s single database platform, so there is no management between two separate systems.

Vetted solution

As a NetSuite embedded solution, Netgain is a vetted, verified partner which can save IT departments time and money on due diligence. Netgain is recognized with the Built For NetSuite (BFN) Native SuiteApp badge.

Built for SOC1 audits and greater IT control

With NetSuite storage and backup controls, Netgain delivers clean SOC1 audits, potentially saving auditor costs down the road while granting IT greater control over data and access.

Leveraging existing roles, permissions, and workflows

NetSuite seamlessly integrates roles, permissions, and workflows to maintain internal control consistency. Netgain uses all of that powerful, built-in functionality to make accounting easier than ever.

Increased level of data security

Netgain leverages NetSuite’s vast resources for storage, backup, and restoration of all data.

Auditability

Foreign currency handled natively

With a third-party solution, you’re forced to manually input foreign currency adjustments into the ERP. Netgain handles all foreign currency adjustments natively, saving time and reducing risk of miscalculations.

Complete NetSuite audit trail

With NetSuite’s storage, backup and restoration, auditors are able to access an end-to-end audit trail to track all historical data.

Direct drill-down to underlying transaction and lease details

Netgain lets users drill down to the smallest detail — from the lease record to the impact on the general ledger to lease bill payments to the vendor record.

Decreased audit fees

Because auditors are familiar with NetSuite, audits of the ERP and native apps take less time and can reduce audit fees. With third-party apps, auditors must learn multiple systems and those associated costs get passed on to the customer.

Auditability

Foreign currency handled natively

With a third-party solution, you’re forced to manually input foreign currency adjustments into the ERP. Netgain handles all foreign currency adjustments natively, saving time and reducing risk of miscalculations.

Complete NetSuite audit trail

With NetSuite’s storage, backup and restoration, auditors are able to access an end-to-end audit trail to track all historical data.

Direct drill-down to underlying transaction and lease details

Netgain lets users drill down to the smallest detail — from the lease record to the impact on the general ledger to lease bill payments to the vendor record.

Decreased audit fees

Because auditors are familiar with NetSuite, audits of the ERP and native apps take less time and can reduce audit fees. With third-party apps, auditors must learn multiple systems and those associated costs get passed on to the customer.

Ease of Use

Quicker implementation

Our system is simply easier to implement because of master data management, existing upload and import/export tools, and the fact that end-users already know the system.

Direct access

Users have direct access to all native reports, with the ability to customize native reports or build new ones using existing reporting tools.

Seamless workflow

With no separate logins and a single platform, users have instant access to the tools and functionality with which they’re already familiar.

Lower total cost of ownership

When you factor in IT support, increased audit expenses, training, and dedicated resources, Netgain’s native app can significantly reduce both hard costs and hours spent learning a new system.

Faster adoption, increased engagement

Users familiar with the NetSuite ERP will find easier engagement and faster adoption with Netgain’s native app. They’re not forced to learn a new system.

Ease of Use

Quicker implementation

Our system is simply easier to implement because of master data management, existing upload and import/export tools, and the fact that end-users already know the system.

Direct access

Users have direct access to all native reports, with the ability to customize native reports or build new ones using existing reporting tools.

Seamless workflow

With no separate logins and a single platform, users have instant access to the tools and functionality with which they’re already familiar.

Lower total cost of ownership

When you factor in IT support, increased audit expenses, training, and dedicated resources, Netgain’s native app can significantly reduce both hard costs and hours spent learning a new system.

Faster adoption, increased engagement

Users familiar with the NetSuite ERP will find easier engagement and faster adoption with Netgain’s native app. They’re not forced to learn a new system.

Ready to go native?

Choosing a native solution for your organization is about many things. It’s about greater efficiency and increased security. It’s about streamlining systems and processes with a single database. It’s about reducing complexity, lowering costs, saving time, and eliminating frustrations. It’s about using what is great about NetSuite and using accounting standards to increase operational efficiency for finance and accounting departments worldwide. Netgain is about all of that and more.

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Ready to talk?

Watch a video demo

WATCH NOW

Get in touch with us

TALK TO SALES
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