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When you should ditch your bookkeeping service and invest in ERP

When you should ditch your bookkeeping service and invest in ERP

. 3 min read

Most people do not start using something until it is very clear that they need to.

A lot of businesses wait for one or two signs that things are not running smoothly in the business to determine that a change in software could be what they need.

Of course, you need to know what these signs are and how they point to an Enterprise Resource Planning systems system and business improvement.

If you’re looking to save time and money while boosting productivity, here’s when you should ditch your bookkeeping service and invest in ERP.

Inadequate Reporting

Incomplete and inadequate reporting is often the first sign that a company is missing the benefits of ERP. Accurate reporting is vital for businesses of all sizes and the communication of information is the basis of all business operations.

This is why you need to have good reports and reporting systems in place. The reports need to be error-free and as streamlined as possible to ensure efficiency.

High Operational Costs

If you find that you are unable to manage your resources or it takes a lot of time and your operation costs seem hard to calculate, your operations are likely to be inefficient or not as lean as you need. This will often lead to high operational costs. Real-time collection of data is generally needed to accurately calculate costs.

This is due to it allowing for the analysis of the business and the determination of areas which need operational improvements. When you move to a leaner process, you will reduce the costs of the operation. Waste and delays are the issues that will be addressed and this can make a significant difference to your bottom line.

For many organisations the expense of an ERP system can be justified as using the ERP system can actually decrease costs, having one suite of software that enforces best practices has a common user interface sytle and enhances collaboration will improve the efficiency of the company and allow human resource savings in areas such as accounting and customer relationship management.

Traditionally ERP systems are seen as expensive highly complex software, however even some small businesses can benefit from them and there are ERP software products that are targeted small to medium size businesses.

Inefficient Supply Chains

When you have a supply chain that does not have responsive procurement, demand forecasting and inventory processing, the costs will generally be higher than you would like.

There are some supply chain processes that need a complete overhaul and you should not delay with this. It is possible to comprehensively improve your supply chain which will open the doors to new opportunities with your suppliers that will benefit both businesses.

Not Adapting To Emerging Trends In Your Market

A lot of people believe that their business processes are running smoothly only to be taken by surprise when there is a major development in your industry. This can cause you to rethink everything related to your processes.

When you have the right business software, your business will be able to adapt to emerging trends in your industry. These trends could be consumer habit trends or new technology that is being used in the sector.

According to small business finance company Max Funding, staying on top of trends is very difficult as a small business “you’re busy spending time running your business. When you do have time to look intro trends, it’s only for any immediate problem you’re facing.”.

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Poor Customer Relationship Management

There are times when your CRM is not helping you meet your sales objectives. In these situations, you might be missing some of the integration that your CRM system offers which work with your ERP system.

If you find that your repeat business is what you want, you need to have something in place to monitor all of your communication with customers. A revamped CRM system can help, particularly if it is aligned with the other parts of the business which need to be incorporated with your overall ERP system.



Laura

Part of the expertEasy writing team, Laura is from the UK and has a keen interest in Business, interior design and decor, home improvement and thriftiness in all things around the house and garden.

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