Today we’re surrounded by technology both in personal and professional environments, helping to make almost any task easier and faster to complete. Within business, computer applications are helping to improve efficiency, reduce costs and if we speak specifically of business management software, the advantages gained pose the questions “Why have we not done this sooner?”.
Any company regardless of size, sector or age can benefit from the features provided by business management tools such as an ERP.
As a company develops it must make decisions regarding what programs it uses as its core system. There are many indicators it’s time to “upgrade” your businesses systems for example; calculating accounts at the end of the month becomes more complex, managing a healthy level of stock to help fulfil orders whilst keeping costs at a minimum takes hours of manual input or ordering parts from multiple suppliers to arrive at a specific time for manufacturing involves manual calculations.
A single, centralised business management software tool for companies
The main purpose of these tools is to offer useful information about the health of a business within a simple, easy to digest dashboard. You can, of course, go into detail and really scrutinise all aspects of a business but to do this a business must transfer or integrate all quantifiable data and centralise it within a single system.
Businesses which don’t utilise a core, central system suffer the opposite effect. Should a business have a tool for accounting, another for marketing processes and a third for order management then their data could get duplicated across platforms or key pieces of information missed from reports. Multiple systems require multiple users to understand different processes, this leads to more time being spent training and using the system as well as more errors in comparison to a centralised business management system.
This duplicity and isolation of systems is not only an expense of resources, they can become a real bottleneck for the management of a company, causing internal processes to delay any management. Think, for example, of an invoice that has to be corrected and in all the departments involved which must be notified to make a mere change.
A business solution to achieve customer loyalty
The ability to effectively manage orders, inventory, shipments, marketing materials etc is the key difference between success and over coming the challenges which can set your business apart from the competition.
Any entrepreneur knows that avoiding errors with orders, inventory and/or stock and transport is a great reduction of costs, being able to invest that time and money for other more productive purposes.
Business management software is designed to achieve the “just in time” method as they manage inventory in real time as well as generating automated alerts related to said inventory management, giving your business the opportunity to act almost instantly to orders, stock depreciation and costing fluctuations.
Not only that but the connection established by integrating all tools into a centralised system allows us to anticipate future events. Thanks to advanced data analysis it is now possible to obtain information about the purchasing habits of customers, the lifecycle of a product, the impact of seasonality and peaks in consumption.
We will also be able to offer additional benefits to our customers. Without going any further, an ERP solution can be integrated with an e-commerce platform and users will have online access to the status of their purchases, to track their orders, and they can contact the help desk to resolve incidents.
Business Management solutions offer you more information than ever before
Instead of using different software for different aspects of the company, an integrated business management software can ensure that all applications have access to the most up-to-date information, regardless of the departments, devices and even geographical location.
For example, large companies invest large sums in advanced financial analysis systems as it is critical to their success but even small businesses can make better decisions if they have the right information, such as a balance of income and expenses that the ERP solutions allow to generate instantly.
Similarly, a salesperson will have an advantage of negotiating with a customer if he knows said customers purchase history.
In general, each department will be more effective and benefit from making key data easily available.
Investing in a business management software leads to reducing expenditure
Business management software (especially cloud-based solutions) represent a significant reduction in cost for large companies. A common reason cloud applications help reduce cost is time lost through inability to work. With a cloud system updates and system patches are applied immediately, updating all users systems whereas on-premise systems require downtime, an engineer to come in and install the patch and wait time for when they’re available to do so. This is something we’ve covered in a previous post.
In short, and although each company is unique, all businesses can benefit from the advantages provided by these tools. and this post has covered just a couple of them.