Businesses and organizations outgrowing entry-level accounting software and those running legacy ERP applications struggle to adapt to today’s rapidly changing business environment. As a result, companies are hampered by high IT costs for one-off integrations and intrusive customizations, providing minimal functionality to grow into new markets.
Entry-level accounting solutions and legacy ERP platforms can only take a business so far. When new opportunities are on your horizon, you need a modern cloud ERP system that enables sustainable business growth.
Modern ERP applications like Acumatica empower businesses and organizations with advanced financial features providing a holistic system for growing companies. Here is a summary of the 16 Ways Your Business Can Grow With a Modern and Agile ERP System:
1) Automates Business Activities
One of the gains that businesses have achieved through the cloud ERP is automated processes. ERP significantly improves organizational efficiency by computerizing all the key activities of a business. By doing this, the system frees employees’ time allowing them to focus their energy on other critical fields. Also, the system reduces human errors.
2) Improves Customer Service
ERP plays a significant role in improving customer service. The system gives workers access to all the necessary customer information allowing them to serve customers better. With the improved user experience coming with ERP, companies have a comprehensive view of all their customers, including their history. ERP also helps organizations match the customers’ supply with their demand, thus making customer relationships better.
3) Strengthen Communication Between Different Departments
Through automation, ERP brings together all departments, making communication swift and successful. The software breaks geographical barriers despite the locations of different departments. By allowing for transparency, the departmental heads and other staff stay on the same page all the time.
4) Marketing and Sales Automation
Any dynamic business needs ERP to propel its sales and marketing force and remain market competitive. The software takes care of all the activities surrounding sales and marketing; from tracking customer orders, dispatching the items, and receiving payments. Through the ERP system customers, data is centralized in a single location, providing room for a better understanding of customers’ history and purchasing powers, among others, for marketing reasons.
5) Improves Productivity
By automating complex processes, ERP frees most of the employees’ time, allowing them to attend to more critical duties. Manual entries and duplications are time-consuming tasks that employees have to deal with if there is no ERP system. For organizations that have to deal with Excel, even more time is wasted thanks to the ERP system that has come to lighten the employees’ burdens
6) Minimizes Cost
One of the most spectacular importance of ERP is its ability to reduce business running costs. ERP’s automation and accuracy significantly reduce business administration costs without compromising on the quality of services offered. Cutting costs means increased profits which can result in business expansion.
7) Integrates Data
ERP makes data readily available for all the responsible staff. Everyone within the supply chain can access data from anywhere, allowing them to monitor orders and keep proper delivery times. Besides, it allows them to identify any bottlenecks at any given point of the system.
8) Provides Real-time Data
Real-time data reaches all the departments immediately. For instance, when a truck ferrying products signs in to the gate in whichever branch, the scanners pass details to all departments. In the same way, when a customer makes an order, the information is taken by the system to all the responsible departments immediately after the client submits their request. Access to real-time information anchors a business on its success path.
Moreover, ERP is helpful to the workers who choose to work on the go. Whether it’s attending business conferences or on any trip, you’ll receive all the data in real-time no matter how far you are from the business.
9) Promotes Transparency throughout the Organization
With ERP, all the processes are accessible to all the concerned personnel. Aided by automation, handling things under the table is eliminated since all activities are done via the system.
10) Eliminates Redundancies
The ERP system helps to remove unnecessary tasks which would otherwise be time-consuming. Repeated data takes up space and can easily create confusion along with the business. ERPs centralization of data fights this habit.
11) Empowers and Motivates Employees
Providing employees with the necessary tools inspires them to work, a sure way to increase business productivity. ERP motivates employees by reducing the time they spend on administration activities, and allowing them to focus their energy on other responsibilities. Also, it provides them with the necessary information, allowing them to make the right decisions.
12) Gives Room for Accurate Reporting
While working manually, the end of months could be those times that employees are extremely exhausted. Due to overworking, you could expect several messes in the final reports. However, gathering and writing reports are made easy by the ERP system.
13) Ensures Data Safety
ERP systems allow access of information only to the responsible staff. The available data is restricted only to the right persons, preventing external attacks.
14) Helps in Making Better Decisions
ERP system gives you a better insight into the business by allowing for a real-time dashboard. Therefore, you can easily base your decision-making on the actual situation of the business.
15) Allows for Projections Based on Past Sales
With the centralized data, staff can easily access past performance based on sales and identify trends to make changes depending on the season.
16) Improves Inventory Visibility
By implementing an ERP system, you’ll access real-time inventory from all the locations giving room for proper inventory control.
Get the Full eBook to Learn More
Our eBook explores sixteen ways that businesses and organizations grow with Acumatica. It shows how organizations align information and workflows to drive significant improvements throughout every area of their financial and business operations on a future-proof cloud platform designed for extensibility.
Download now to learn how Acumatica can enable you to:
- Configure business processes while avoiding messy customizations.
- Gain a 360-degree view of your operations.
- Reduce risk even while streamlining compliance tasks.
- Increase employee productivity with powerful mobile apps.
- Plug in industry applications for even greater ROI.
MIBAR helps companies work smarter and grow faster with Acumatica Cloud ERP. With our 30 years of experience in transforming businesses, we are excited to help you meet your challenges head on. To learn more about Acumatica click here or view our Acumatica demo now.