The cloud has opened new possibilities for CFOs and CIOs to think differently about their IT infrastructure, and how they can increase flexibility and agility in support of innovative businesses.
This NetSuite whitepaper highlights the importance of financial software in adapting to evolving business models. Among the topics covered are:
- Evolving IT Architecture to Support Business
- A new strategy for the Enterprise
- Frequently asked questions when upgrading IT
- Making it happen
- What an innovation company looks like
It introduces the concept of two-tier ERP whereby large organisations use tier 1 ERP for financials and other core common processes at the corporate level and tier 2 ERP for subsidiary or smaller operations to address specific requirements of each subsidiary or business unit.
According to NetSuite, the two-tier strategy enables the company to shift how it approaches business model integration, preventing it from needing to consolidate new and different entities into one solution while still enabling consolidated financial reporting.