Sustainable energy covers a wide range of sectors such as wind turbines, solar energies, which cover wind farms, solar farms, etc. There are plenty of approaches one can take when it comes to energy strategies, but for this specific blog, we will focus on the solar energy industry. As the solar industry continues its growth, many businesses are beginning to adopt renewable energy methods in order to lower energy costs and consume clean energy rather than the latter. This sustainable energy industry covers solar panel manufacturing, installation, and power management. Energy management is top of mind for many from individual households to businesses that want to lower their carbon footprint. This is an industry that is heavily involved in both B2B and B2C markets, which means there are plenty of different types of projects and clients to work and coordinate with.
Regarding the operational side of the industry, some of the main challenges that are presented in the solar industry are IT costs and data management. As you know there are plenty of activities to complete in the day-to-day operations of a facility. Specifically, these activities include purchasing products such as electrical grids, requesting orders, inventory, sales, and project management, to name a few. Although managing all these activities can become overwhelming, fortunately using NetSuite for solar panel project management can help to streamline processes across departments. Not only can NetSuite aid in managing business operations but because of the increased efficiency and productivity offered, implementing NetSuite will aid in giving your business a competitive advantage in an already competitive industry.
Accounting is a crucial part of all businesses, and with NetSuite, you are able to also have accounting processes on the platform that integrates with other departments. NetSuite’s capabilities can seamlessly perform finance and accounting functions with strong compliance in their practice. This will increase business performance and ensure accuracy. In turn, the added benefits are reducing back-office costs.
Real-time financial reporting is another added benefit with NetSuite, where it couples with features such as revenue recognition to help companies to stick to compliant measures, with complex contracts.
The accounting tasks that can be managed through NetSuite include:
ERP Buddies developed the SuiteSolar solution, a fully customizable NetSuite Application, which was created specifically for the management needs of the Solar Distribution and Installation industry face. Facilities need to be capable of coordinating the business activities both in the commercial and residential sectors. Many individuals are seeking renewable energy sources adopting this new type of energy consumption, leading to exponential growth. This solution was optimized to aid in the transition when businesses are ready to scale and move towards the next big venture.
The renewable energy industry is a sector that is top of mind to many, as we as a society try to opt for clean energy options as a way to decrease our emissions. Business management solutions such as SuiteSolar have a positive effect on a business’s productivity and efficiency that can be attributed to the ability to streamline the functionalities of a business, but also minimizes costs of production.