In a tech-driven business culture, you can’t effectively lead others if the technology and tools you depend on are behind the times. This is true, not only on a practical level, in terms of the capabilities and data insights you need in order to stay agile and outperform expectations, but also on a leading-by-example level as well. This understanding is particularly relevant for private equity firms, whose mission implicitly involves optimizing and increasing the value of the companies in their portfolio by providing both structure and guidance.
Portfolio companies not only need leadership that’s tech-savvy enough to shepherd them through their own digital transformations, they also need leaders who can light the way forward, preparing them for the road ahead with a depth of understanding that only the latest data analytics and AI-enabled tools can supply.
In order to achieve the best ROI, portfolio companies need to leave legacy systems behind, so they aren’t hobbled by spiderwebs of siloed data trapped in a hodgepodge of mismatched spreadsheets and outdated accounting applications without cloud capability.
And if the private equity firm itself is hampered by legacy systems and disconnected, disorganized data, it’s that much harder to get its portfolio companies modernized and moving forward, which in turn holds back the growth, scalability, and agility of the portfolio companies.
It’s also worth noting that the compliance and reporting needs of private equity firms are typically complex, given the need to manage multiple entities. Trying to manage those needs manually with aging and inadequate systems creates a self-sabotaging drain on the time and talent of team members who could be focusing on higher-level tasks. It’s like a leaky pipe that wastes resources and puts a drag on forward momentum.
The good news is that with a well-chosen enterprise-level ERP solution in place, all of the challenges outlined above can be transformed into powerful advantages. Here are some of the key benefits that the right ERP can deliver:
Taking all of the above into consideration, there’s one ERP that stands head and shoulders above the rest in its ability to respond to the particular needs of private equity firms and take their tech capabilities to the next level: Oracle’s NetSuite.
Here’s some of what NetSuite brings to the table:
With Sikich’s team of experts helping you implement NetSuite smoothly and rapidly, you’ll be able to go live in weeks, not months. We can also help you fine tune your implementation and provide ongoing support so you get the most from your ERP, with flexible plans that let you tap into as much or as little support as you need.
Want to learn more about how Sikich can achieve the full power and capabilities of a cloud-based ERP for private equity firms? Reach out to us today.
This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.