As technology gets better and more affordable, smaller businesses are now using tools that were previously only obtainable by larger organizations. These days, small and mid-sized businesses are working in lockstep with big-league players, generating increased competition and more importantly, creating a level of urgency for those businesses lagging behind.
As businesses of all sizes continue to thrive, more and more managers are expected to utilize and offer technologically advanced service, mandating a need for implementing new tools and methods.
Utilizing ERP is becoming a popular trend among SMB’s for the variety of benefits it offers. If you are unsure about whether or not your business is ready for ERP, here is a breakdown of what you can expect from this technology.
Enterprise Resource Planning (ERP) is a business process management software that enables businesses to utilize a system of integrated applications to manage business processes and automate numerous business functions.
Depending on your ERP software, everything from Customer Relationship Management, Field Service, HR, Rentals to an entire Accounting infrastructure is connected and can be managed through one pane of glass – an ERP system. Here is the importance of ERP.
Increased Productivity and Customer Service
Improved business productivity translates to profitability. ERP software captures important data from all of your business departments and is always available when you need it.
By eliminating the business dependency on numerous documents and excel spreadsheets or specific people in certain departments, productivity increases. Centrally organized data will identify when your team is succeeding as well as areas that need improving. Data in one location also improves employee collaboration.
These types of system simplifications are an important reason why 96% of top-performing businesses rely on ERP. ERP solutions facilitate better communication through data access, allowing employees to more clearly see the goals of the entire business, rather than just their specific department.
Improved Decision Making
The ability for ERP systems to provide real-time data can simplify the decision-making and planning process for management, marketing and accounting teams.
Reduced Errors and Data Entry
The technology for capturing data automatically has improved substantially over the years. Automating data capturing in ERP systems allows for fewer human errors, such as missed orders, inventory faults, or miscommunications. Compared to manual data entry, the cost and time saved using automation is substantial.
Along with reduced errors and data entry, ERP has the ability to provide real-time insights into where business process and workflows can be improved. Easily track product or warranty expiration and automate inventory replenishment prompting immediate required requests or notifications to be emailed.
With a more reliable and accurate system, your customers will receive a more consistent and better experience, boosting your teams’ confidence and satisfaction.
While implementing an ERP solution may require a little more money upfront, the long-term savings and improvements for your business are significant. Improved information accuracy and automation powered by an ERP platform like Microsoft’s Dynamics 365 Business Central can benefit operations management and efficiency.
As a result, unprofitable areas of the business can be easily identified and attended to. Additionally, ERP will reduce the number of manual processes that employees are expected to complete, thereby spending more time on other important and profitable tasks and projects.
Improved workflow leads to decreased information turnaround time, full visibility and increased production resulting in increased profitability. The key to keeping your business at the top of its game is by utilizing technology that is flexible and that can assist with all of your management decisions. There is no better time to start exploring the possibility of D365 Business Central for your small to medium size business.
The time is now to start exploring the possibility of D365 Business Central for your small to medium size business. As competition in business continues to increase, utilizing technology that is flexible and can assist in all of your management decisions can keep your business at the top of its game.
Concept and D365 Business Central
Concept specializes in D365 Business Central implementation, development and integration. To explore, demo or learn more about how we can assist your SMB achieve operational efficiencies and reduce your time to adapt, contact us today.