NetSuite for Renewable Energy Companies

Business challenges in the renewable energy sector

Renewable energy companies encounter several hurdles that can impede their growth and efficiency. For instance,

1. Job costing process can be difficult and time-consuming. A solar installation company might spend weeks calculating costs for materials, labor, and overhead, leading to delays in project initiation and potential loss of contracts.
2. Distributed systems that fail to provide a unified view of projects. A company might use one software for project management and another for financial tracking, resulting in miscommunication, inefficiencies or even missed deadlines and budget overruns.
3. Ineffective allocation of assets and equipment. A company may struggle to track the availability of specialized equipment, such as cranes for turbine installation, leading to project delays and increased costs.
4. Lack of visibility in resource availability can hinder project planning. A company might find itself in a situation where it has committed resources to multiple projects without realizing that key personnel are double-booked.

Solution tailored to meet the needs of renewable energy

NetSuite offers a comprehensive solution tailored to meet the needs of renewable energy companies. The integrated solution provides powerful tools to help you manage your projects, resources and finances.

• Project Management
• Resource Management
• Project Accounting
• Timesheet
• Expense Management
• Analytics

All of this in a familiar environment that minimizes the learning curve for users.

With real-time data, pre-built templates and structures, users can automatically create projects, significantly reducing the time spent on initial setup. Hence, users can quickly generate project plans for multiple installations, ensuring consistency and saving valuable time.

NetSuite also features a built-in costing estimator that allows for accurate scoping of equipment and resources. This tool enables companies to forecast costs effectively, ensuring that projects remain within budget. Additionally, its advanced inventory management capabilities help firms track and manage assets efficiently, preventing delays caused by equipment shortages.

Benefits of streamlining operational efficiency

NetSuite can lead to significant improvements in operational efficiency and project management. The largest expense on an organization’s income statement is frequently its workforce and therefore demands ongoing attention from a business’s leadership. But now, with a tight labor market, rising inflation and uncertainty about the global economy, workforce planning has taken on even greater importance. And yet, for most organizations, efficient and successful workforce planning is still a work in progress. They tend to be stuck with clunky legacy systems, or they’ve settled for spreadsheet-based processes that can’t keep up with the rapidly changing business and market conditions and are susceptible to errors. 

When all projects, inventory, resources and financial data are centralized in a single solution, organizations can analyze and compare planned costs and schedules with actual results. This supports proactive cost management and ensures project timeline compliance, helping to safeguard your project margins.

One of the standout benefits is the ability to quickly compile job costings and estimates, which can include profit forecasts. For example, a wind farm developer can generate a detailed financial overview in minutes, allowing for informed decision-making and timely project approvals. And, because project and financial data are connected in real-time, businesses can tailor revenue recognition rules to suit the unique characteristics of their projects and use real-time project data to ensure precise recognition of revenue at every project milestone.

NetSuite enhances visibility across the business by providing key information from granular levels to detailed project activities. This means that a company can easily track the progress of a solar project, from initial design to final installation, ensuring that stakeholders are informed every step of the way. The user-friendly Gantt charts within NetSuite allow project managers to adjust resources dynamically. For instance, if a particular project requires additional engineers due to unforeseen challenges, managers can easily drag and drop resources to meet the project’s needs.

The value of partnering with Greenstep for NetSuite implementation

Implementing NetSuite can be a complex process, but partnering with Greenstep can significantly enhance experience and outcomes. Our solutions align with the specific needs of renewable energy companies, allowing for a setup that maximizes operational efficiency.

Greenstep’s team of certified experts in NetSuite SuiteProjects, SuiteProjectsPro (OpenAir) and Field Services Management (FSM) brings extensive experience in ERP implementations, ensuring that the transition to NetSuite is smooth and efficient.

Moreover, Greenstep provides comprehensive training and ongoing support, empowering teams to leverage NetSuite’s full potential. Our expertise in Change Management helps organizations navigate the cultural and procedural shifts that come with implementing a new ERP system, ensuring that employees are comfortable and confident in using the new tools.

Operational efficiency is not just a goal; it's a necessity. By partnering with Greenstep for your NetSuite implementation, you can transform your workforce planning and project management, ensuring that your organization is agile, informed, and ready to thrive despite market challenges.

Ready to take the next step towards operational excellence? Contact us to learn how Greenstep can help you streamline your processes and maximize your potential with NetSuite!