If you are the owner of an SME and considering if you need to invest in a comprehensive ERP system, the chances are the processes that you use across your business are not cutting the mustard.
With our vast experience of working with businesses across different industries and sectors, it is often the case where we see businesses still using the same systems even though they are too big for them now. If you find that your data is uncontrollable, your reporting is getting inaccurate and sloppy and you’re spending too long on tasks trying to get things to work, then you need to consider moving to a fully scalable solution.
Selecting the right business management solution can be a real gamechanger for your business as it can help you streamline operations and make your day-to-day job easier.
If you are still unsure about making this decision, we’ve put together four of the best indicators that investing in a suitable business management solution is the best decision that your business can make.
1 – Information is siloed in different areas of your business
If your business is making use of multiple systems to produce or retain data then you are more likely to have siloed information. This only happens if the information is siloed in different areas of your business and teams are not communicating effectively between different departments. With this occurring on a regular basis will mean that teams will be making decisions based on their own data or inaccurate data. The lack of transparency in the data could have a negative impact on businesses and their future success but it is often seen regularly in businesses that make use of multiple and outdated systems.
Being able to locate and maintain information can easily be achieved through the implementation of a leading ERP solution. By having this data available to everyone across the business in one place, it makes it easy for teams and individuals to locate data without the fear of it getting lost in translation.
2 – Using spreadsheet after spreadsheet after spreadsheet
It goes without saying but spreadsheets can serve their purpose for a whole host of tasks that require data analysis. However, the problem is if your business over relies on Excel for reporting, you will reach a certain point where this is no longer sustainable. You will find that spreadsheets for a start aren't the easiest things to collaborate with other people on. With multiple people working on one spreadsheet at the same time could lead to data conflicts as well as greater inaccuracies in reporting.
Even worse is the fact that spreadsheets are single files which aren’t straightforward to replicate or save in the wrong place. This could lead to outdated versions being accessible across the business as well as inaccurate data being present throughout the business.
Having to update spreadsheets and manually input data is extremely labour intensive and one that could lead to human mistakes instead of the safety net that is provided by a well-structured database.
3 – Your processes are complicated and unstructured
This has to be one of the most irritating headaches in a business with the complex and long-winded processes and procedures that are built up over time.
Granted, some of your first ever processes may not have changed, however both new and old employees may have expanded on these and implemented their own ways of working. Now, you find yourself in a scenario where the departments and individuals in your business are doing their own things, the way they want and nothing is joined up.
Sinking into a whole host of disconnected processes makes it hard to work effectively and efficiently as communication inside the business starts to fall apart. This can get worse quickly, which reduces productivity and hinders success.
Well, you may feel that you can make it as a business without an ERP solution, but wouldn’t you feel better if you had a system that helped you to become more successful? Most businesses would answer yes to this question as streamlining these processes can help to guarantee that all employees and departments are on the same page which will help to ramp up the overall productivity and efficiency.
4 – Inaccurate reporting
If you are often in doubt about how accurate accounts, reports or forecasts are but you are using multiple systems to bring in that data then you have found out the answer.
You will notice that any inaccuracies in monthly reports or accounts usually occur as a result of the way in which the data was gathered in the first place. If you are using separate systems to keep tabs on sales, stock, accounts and much more then it makes the task hopeless in being able to maintain the accuracy of each one.
Not having a suitable ERP in place can make it almost impossible to maintain the accuracy of this data as well as the reports. Put simply, businesses need data and if your current systems aren’t giving you high accuracy levels then they aren’t right for your business.
Choosing to keep all your data in one central location can save valuable time that it takes to review any discrepancies and go back and forth over the data before you can work out what went wrong.
Next Steps?
Revamping your current processes and implementing an ERP solution like Business Central can be tricky if you don’t know how or where to start. This is where the team here at Advantage can help your business as we are experts in implementing ERP software into businesses across different industries and sectors.
We are able to help you migrate over to the new software as well as train you on how you can use all the functionality to the max to ensure that you are maximising your value of it. In order to start streamlining operations, please contact us today!
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