Does your ERP Solution Drive Growth?Back
In a perfect world, every business would have the accounting tools that work for them and scale accordingly in times of growth. Unfortunately, not every accounting program is scalable or agile enough to handle the challenges that a growing business will face.
Whether you are expanding your local business operations or are in the midst of acquisitions, you may find that your accounting department is struggling to keep up. It may be time to re-evaluate the enterprise resource planning (ERP) software that you are using before accounting gets too far behind the curve.
It is not unusual for newer businesses to use basic accounting software to manage the books and track basic financial needs. Even more established businesses settle in with an accounting program or ERP solution that meets their needs at that moment. However, when business starts to boom and you are really busy focusing on product quality and customer needs, accounting may not be able to keep up with the changes in volume and complexities that come with business growth. Before you know it, you are experiencing longer and longer delays in getting the information you need to further grow your business or meet the needs of your customers. At this point, you are likely missing out on potential opportunities and may also be making important decisions based on old data, which can be very risky. So how can your ERP Solution support the growth of your business?
If you invest in a flexible ERP solution in first place, you can easily add additional products or services or you can expand to different markets or even acquire new operations. To do that you’ll want an ERP solution that can be quickly and easily extended to include them. Or how about international expansion? If you choose an ERP solution that supports multiple languages, currencies and local requirements out-of-the-box, you can simply enable these features and your operations is ready for new markets.
The faster your business grows, the more important are efficient and streamlined business processes. A good ERP solution helps for example reducing inventory levels and days sales outstanding. “Do more with less” means you can take on increased business without increases in payroll. These improvements have a direct impact on your cash flow which you can use to fund further growth.
A growing business always requires more financial and human capital. Especially at this time it is very important to get the results of your decisions without any delays. For example, you want to know how good your new products sell on the market and what is their impact on your financials. Maybe a new market is very successful but at lower margins? With the right ERP solution in place, management can have convenient, 24/7 access to accurate and consistent information to support the decision-making that drive growth.
There are several ERP solutions on the market today and you are sure to find a solution that matches your business needs; and can also grow as your business grows. Working with a reliable software provider, you can find the right software for your operations. Microsoft Dynamics® NAV is one example of a powerful ERP software solution that is agile enough to manage the complexities of a growing business. This comprehensive software solution is scalable right out-of-the-box – you select themodules that suit your business needs today, with the ability to easily add functionalities when you need them in the future.
This ERP software is also customizable to address the unique needs that set your business apart from competitors. The flexibility that Microsoft Dynamics NAV offers will give you confidence in your ability to access to meaningful data as your business is booming.
Contact Albrecht Solutions for more information about finding an ERP solution that can support your business in times of growth.