All successful leaders know that to maintain growth and innovation they must continually evaluate their team’s processes to make changes to support that growth. This review process is critical when considering the systems and solutions used to control your team’s finances. Managing team resources with basic accounting software and spreadsheets is no longer sustainable.
Today’s market demands a faster, more efficient solution that meets the challenges of the digital world in which business operates in 2020. If you haven’t already, now is the time to consider converting to an Enterprise Resource Planning (ERP) platform. Strategic minded business leaders have already made the switch, below are the top four reasons they made the switch and how ERP systems help teams succeed.
- Manage Growth
- Manual processes are inadequate for growth. They open the opportunity for errors and risk. Finance teams in 2020 need automated systems that are scalable for growth.
- Growing businesses need to collect, store, and manage data across multiple locations. Without a scalable ERP system that critical data is easily lost or forgotten.
- Expansions means more oversite, ERP systems provide the tools to manage products, orders, customers, finances, and operations.
- ERP systems provide necessary insight to reduce cost, improve compliance, and deliver value to customers.
- Reduce Operating Cost
- With automated processes you’re able to maximize your team’s efficiency, refocusing each team member’s unique skill set towards the right tasks for optimal productivity.
- Save money by ensuring compliance with automated tax tables and regulatory updates.
- Utilize workflows that enable tasks to be completed more quickly, with less chance of error.
- Improve Decision Making
- Avoid manual processes and manipulation of data by consolidating it in once source.
- Access real-time data and information-sharing anytime, anywhere with a Cloud based ERP system.
- Upgrade your reporting with real time analytics, alongside alerts and notifications for quick response to fluctuating business conditions.
- Gain instant insight into current costs and performance with data accessible anytime anywhere.
- Foster Collaboration
- Effective ERP systems make collaboration with customers and between employees easier.
- ERPs provide instant access to data for anyone within the organization.
- ERPs streamline communication between employees across geographic boundaries using Cloud infrastructure.
When considering switching to an ERP system you have to be aware that not all systems are alike. You must review the options available and find the right solution that fits your organizations needs. Business leaders in 2020 need systems that integrate with critical applications already utilized by the finance team, a Cloud connected solution, and a solution that provides industry specific support.
If you are currently struggling to make your outdated accounting processes support your goals toward growth, then give us a call, maybe it is time to make a change. MicroAccounting has a fleet of ERP systems that help our customers succeed every day. Feel free to contact us at 855.876.3773 or email us at firstname.lastname@example.org.