As your business grows and develops its reach, the old processes and workflows aren’t enough to deal with the increasing complexity that comes with more customers, employees, and services. While these problems are common in growing businesses, they are most likely caused by limited resources and inefficient software systems. Your business software should mesh with your existing business practices and adapt to technological innovations. If you’re trying to meet your growing business’ needs with spreadsheets or basic bookkeeping software such as Simply Accounting and QuickBooks, you may notice that while these solutions helped your business get up and running, a well-planned move to an Enterprise Resource Planning (ERP) software solution will deploy your resources more effectively and allow your employees to focus on the strategic initiatives to reach your growth goals.
An ERP solution will connect your company with a single solution to share information across each key business area. The flexible business management solution designed to save you time and money, will help you to free up cash flow, close more deals, strengthen prospect and customer relationships and have a more accurate picture of your inventory levels. So, how do you know if your business needs an ERP solution? Every company is unique so there isn’t one indicator that lets you know you’re ready. However, if your business is facing some of the issues listed below, it’s probably time to start thinking about implementing an ERP solution.
Here’s a look at some of the keys signs that your business is ready to move to an ERP solution:
1. Allocating too Much Time on Day-to-Day Operational Procedure
An ERP solution enables you to continue scaling your operations without having to increase human resources. By automating many of your manual business processes, you’ll free up valuable resources and can reallocate them to serve more productive roles in the organization. This results in annual savings in employee salaries and frees up cash-flow to grow your business more quickly.
2. Lack of Real-Time Information
Without access to real-time information, you don’t really have a clear picture on what’s happening with your operations on a daily basis. Streamlining your data management with an ERP solution places all of your business solutions under one roof – providing access to real-time information, eliminating the need for duplication of efforts and giving you the functionality to manage accounting, inventory and purchase orders in one solution. The real-time reporting of an ERP solution empowers you to quickly and easily obtain the information required for improved operations and decision making, and less time pulling the data together for different sources.
3. Decreasing Sales Performance
When your business first got off the ground, your Sales team had a good sales record, but you may recently notice it has started to decline. A contributing factor could be that your Sales team is simply wasting time in searching for customer data, historic order information and trying to manage their sales pipeline. By providing your Sales team with this information outside the walls of your office, you’re allowing them to spend less time on time-consuming administrative tasks and more time dealing with your important customers.
4. Lack of Collaboration
Your customers expect your field staff to be accessible and connected, providing them with accurate customer and product data, where and when they need it. With an ERP solution your sales team can access their key opportunities, tasks, and real-time information while on the road. By allowing your employees to collaborate with each other and have access to the information they need at the drop of a hat, wherever they are, you’re adding the high value to your business that will take you to the next level.
It today’s competitive environment, implementing an ERP solution is a basic need, not a luxury for any business looking to succeed. There are a number of questions that business owners must ask themselves first. You want to ensure that your selected ERP solution fits your organization and your goals.
For more information on what you need to consider when implementing an ERP solution, watch this recent web chat that guides you through the steps needed to get started. If you have further questions or would like to discuss your ERP options, please contact an ADS consultant today.