According to an Aberdeen Group report, over 96% of all organizations were able to climb up to higher levels of growth by using ERP systems. Hence, if you want to increase the revenues of your organization, then it is time for you to switch and get onto the ERP bandwagon. ERP is especially beneficial for small businesses. But what exactly makes them such a strong force?
With an ERP system, you can get an excellent solution to integrate streams of information in different departments and their business processes. It facilitates managers to connect business transactions with the general ledger of the organization and other similar financial systems. By streamlining all operations on to a single platform, managers are better able to organize the financial accounting and reporting functions of their business. As a result, the company is able to increase its profits and reduce its losses.
With ERP, the information from all the departments is combined and showed on a single platform, whenever you want, and at whichever system you like. Therefore, the age-old practice of calling and asking employees from other departments for queries or sifting through excel sheets for making sense of data is effectively finished.
An ERP system can store a master file for customers, vendors, materials, bill of materials, manufacturing processes, and similar crucial data which powers the operations of a standard business. This allows managers to better assess the company’s cash and credit cycles, delivery times, and other operations, which ultimately improves productivity at various levels.
When spreadsheets are overused and there is an enormous amount of business transaction volume, several issues are likely to arise with respect to compiling, storing, recalling, and presenting information.
Using spreadsheets for saving data is a bad practice as it can generate certain errors and increase the likelihood of data leaks. Sometimes, small businesses try to save their budget by making use of the cheapest available accounting software, but the practice backfires because these systems are not equipped with the best features. The requirements of complex processes and a growing number of transactions can only be properly dealt with by an ERP system.
Perhaps the biggest advantages of ERPs are their irreplaceable flexibility and agility, which are good for small businesses that want to continuously adapt to the changing customer requirements as well as the ever-evolving industry regulations.
By flexibility, we refer to essential changes in the management of data to sustain business growth. For instance, modifications can be made in sales, adjustments of stocks, termination of orders, and other operations. This means that instead of typing, editing, and deleting information from spreadsheets, an ERP solution can track all your information with flexibility. Do you operate a small business? Are you struggling to maintain the profits of your company? Feel free to contact us so we can provide you with an ERP solution that can take your organizations to unforeseen heights of success and streamline all of your business operations.