4 Signs Your Growing Business Should Be Using ERP Technology
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4 Signs Your Growing Business Should Be Using ERP Technology

An ERP or Enterprise Resource Planning is a financial software system that you can use to manage, collect, store and interpret data for companies and businesses. It is typically a suite of integrated application for business activities like cost, manufacturing, product planning, marketing, sales, inventory management and shipping and payment. ERP software is truly useful and a must-have for any kind of business. But how will you know if your business needs this software when it’s just starting to grow? Below are 4 signs why you should be using ERP for your business.

1. Inventory Problems

As your company grows, managing the inventory will be harder and harder. Inventory is one of the important things you should manage when having a business because it is a list where you can track your items and goods in stock. If you’re having a problem updating and checking your inventory, there might come a time that you’ll run out of stock without even knowing it until a customer asked for it. Shortage of products might lead your customers to stop dealing with your business. But with ERP software, you can easily track your inventory anytime. It will also be easier for your staff to check every detail that they need if a customer asked for information about a certain product.

2. Accounting Problems

The first sign that you need an ERP software will be from the accounting department. Paper-based sales orders and invoices and manually entering information can be very difficult for your employees and often may cause them waste time and commit mistakes.

With ERP software, it’ll be easy for them because it can handle those transactions in an instant. Financial reporting will also be an easy task to do for there’s no need to reconcile or consolidate information if there’s a system that can do this. Accounting and financials in one database will never cause your employees spend hours for just reconciling data and cross-posting information manually. This means they will be more productive and experience delays and hassle.

3. No Easy Access

Remember all those sleepless nights finding the right paperwork filled out by a customer or a weekly report done about stocks and orders that needs to be consolidated? How about rummaging through different drawers, books and transferring from one department to another to verify or approve a certain document? If these experiences tend to stress you and your employees out, then it is time for a change. There is a better way.

ERP software can handle such big amounts of data and store them in one central system that everyone in the business can have access to. Security measures are also in placed to assure business owners that sensitive data can only be accessed by authorized personnel.

4. The business is growing.

It’s an obvious sign. When the business is growing, needs and expectations must be met in a timely and planned out manner to ensure continuous success. A growing business also means correct data that will help back up expansion and management decisions.

Imagine going through meetings and agendas with tons of paperwork on the meeting table. Computing and finding data in papers and books is unproductive and prone to errors that could affect decisions and falter the trust of stakeholders. Adapt to your growing business by getting a financial software system to collate all those data needed to make the necessary decisions. Management can have access to financial data of each department to ensure everyone is on the right track of growth and expansion. Low and high areas can be pinpointed to make necessary adjustments and meet company goals and objectives.

The reality of business today, in order to move forward, is that technology needs to play its part together with other processes that doesn’t need automation. Business owners will need to find the right balance of using technology and manual process to work together and help the business move forward.


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