Top Five signs your Business is ready for an ERP system

Maybe it’s taking longer and longer to mitigate financials at the end of the month. Perhaps your sales forecasts are based mainly on guesswork than the reliable figures. Moreover, your business is having more trouble in keeping up with order volume and customer satisfaction.

Spend a few minutes thinking, how employees at your company track, record, and process information. Does accounting staff use one system for both receivables and payables, and the sales department use another to enter in all orders?

Is this a time-sucking manual process? Or do employees use a completely different solution to track the shipping and receiving?

When various front-end and back-end systems run separately, it can ruin the processes that ensure the smooth running of your company. Without accurate data from sales, the inventory management suffers, while lacking the latest information triggers a ripple effect on everything, i.e., from marketing budgets to payroll.

Here comes ERP software which integrates all these systems and makes business function rely on a single database. With one such software system, you get accurate and real-time data.

An ERP solution breaks up the information logjams and helps staffs to make better decisions more quickly in less time; thus, helping the business grow even faster.

If someone asks you what your average sales margin is? How long it takes you to find out? What are your business key performance metrics? For companies which rely on soiled systems, spreadsheets and docs, constant update and reconcile of all stats manually is necessary.

“It increases work, pressure, time, and chances of committing mistakes.”

If you want to make the pace of your business faster than before, employees across your company need immediate access to the key data. With an ERP software solution, executives quickly get a holistic view of business operations any time upon their need.

Staffs get the information they need to complete their jobs effectively within time. For example, sales representatives can view a customer’s full transaction history and can proactively improve renewal rates by increasing cross-sell and upsell opportunities.

Leave every sign, but the first noticeable sign of adopting ERP software in your company comes from your accounting department. If employees rely on paper-based sales orders and invoices, they are spending hours every week by manually entering them.

Here, you need to consider wastage of time on tasks which ERP software can handle in an instant automatically.

The same goes for financial reporting, which takes ages in consolidating or reconciling financial information across systems via countless spreadsheets. But, an ERP software solution system can make a quick and significant impact.

With all the financials in a single database, accounting staff will never spend hours; the accounting staff will become more productive without delays and frustration.

When Sales and Customer Experience Suffer:

As companies grow, their biggest challenge is inventory management. Ensuring the right amount of products in the right location at the right time is an important part of business operations.

If sales, inventory, and customer data are maintained separately, it creates severe problems in the company. For example, if you run out of a popular product, then sales will be off till the next shipment arrives.

Meanwhile, if a customer place an order and employees are unable to track it, then the company’s reputation for reliability and service goes down.

However, with an ERP system, staff in every department access the same, up-to-the-minute information. Customer executives can answer customers questions about the order and shipping status, service issues, payment status, etc.

Better is when customers go online to their account and can view status information. Meanwhile, the warehouse manager can check that stock is getting low before it ends; he or she can reorder.

Your IT Is Complex and Time-Consuming:

It’s one of the most significant downsides when a company has multiple systems across the business. If it is in an IT company, then IT management will become a nightmare.
Customizing these systems and integrating them into one, maintain and upgrade multiple, costly vital resources.

If the patchwork of your systems includes on-premise and legacy business software, then the system upgrades become more trouble. Not only these updates are expensive and time-consuming, but also undo customization’s implemented by the IT staff.

“Given that, it’s a no surprise for me that two-thirds of mid-size businesses today are running outdated versions of business software.”

Rather than adding more complex software to an ineffective system, add ERP technology that gives you the agility to respond to the changing business needs rapidly.

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Thus, selecting a cloud-based ERP software system provider is critical to run businesses in speed. If you have noticed more changes or finds out more signs about the delay in business, don’t forget to tell me by commenting it below.

I’ll surely give you a solution to the mentioned issues via Enterprise Resource Planning.