Remember when your accounts receivable department consisted of a person with a sharp pencil, an adding machine, and a four column ledger? Or how about when your inventory was handled by the high school kid who came in on Saturdays and counted what was in your warehouse? While a trip down memory lane may bring a smile to your face, it will not bring clients to your retail space.
Today’s consumers are looking for much more. Tech savvy and easily distracted by your competitors, consumers are doing their research on the fly. They search the internet for today’s deals and the latest thing. And they expect instantaneous, smooth service when they interact with your business as well. This mindset extends beyond individual consumers into the business sector, as wholesale clients have similar expectations.
With the fast pace of business today, it may be time to get back to the basics of what really makes a business both productive and profitable for all concerned. You know the answer. Successful businesses keep up with consumer demand, and do it professionally.
To that end, modern businesses usually employ some type of enterprise resource planning technology. Today’s ERP software must be much more agile than yesterday’s versions. Examining the components of a comprehensive ERP system can greatly improve your position in the marketplace.
For instance, automation of accounts receivables does much to reduce the time your office staff spends on producing manual invoices, and also ensures quick delivery of those invoices to clients. This in turn leads to improved cash flow, a real bonus to every business owner.
But a comprehensive ERP solution goes well beyond this. Integrated software systems can trigger the creation of invoices when the order is filled, while also keeping a much more accurate and up-to-the-minute account of inventory status. Such a system eliminates the redundancy of entering information into an inventory database and a receivables database. What was done twice can now be done just once. It is easy to see how this integrated approach saves time and money.
The same is true for your payables department. Largely eliminating the need for written checks, an integrated ERP system greatly reduces labor-intensive tasks, freeing your staff to work on more profitable areas of your operation and providing for up-to-the-minute reporting of your cash position.
Not to be ignored are the benefits of ERP solutions which include a nimble CRM component. With such a system, you can keep your finger on the pulse of your business by understanding consumer trends as they pertain to your enterprise. This information is invaluable to the modern business owner, as it enables a rapid response to customer demand and optimizes your position in the marketplace.
For more information about how ERP software can work best for you, please contact us today. We will be glad to help you reach your goals with seamless efficiency and optimum performance.
