Before you spend another dime on software, ask yourself: Can I see, in one click, a snapshot of sales, inventory, accounts receivable, and cash flow? If the answer is no, you don’t need more software. You need software that does more.
Most small businesses, over the years, assemble various programs and spreadsheets to run the operations – and that works well until the business grows and more people are hired. Eventually these disconnected pieces will hinder growth but some people keep plugging along (or adding more software programs) because they’re too busy to make a change. “There’s an easier way to manage your business,” says Ron Mondor, President, Zantek Information Technology. “At some point, there’s just no logical reason to keep investing in something that’s not meeting your needs – or worse yet, holding you back.”
Growing small and midsize businesses are turning to business management software (often called enterprise resource or ERP software) to facilitate growth. In fact, Oxford Economics found that about half of its survey respondents listed it as the top budget priority over the next three years*. To learn how business management software can remove growth roadblocks, let’s look at how it works in each department.
Sales and contact management
Business growth likely means more interactions, with more customers. Business management software helps you efficiently track leads, create quotes, and enter orders. In one program, you can manage customer details, along with relationships with suppliers and partners. Plus everyone can see current inventory levels so you can keep the promises you make to customers.
Customer service
For small and midsize companies, personalized service differentiates you from larger competitors. It’s critical that, while you grow, you still offer outstanding service while efficiently managing increased volume. Business management software helps by making it easy to track current and historical customer orders. You can also set up an online store where your customers can browse merchandise, enter orders, and check the status of orders – anywhere, anytime.
Accounting
Until now, you may have gotten by with basic accounting software. As you grow though, you’ll need an integrated solution – one that ties your accounting to your customer orders, purchase orders, and inventory. If you’re currently entering the same data into a separate accounting package, order-management program, and inventory system, business management software will be a huge time saver. And since all of your key data is one place, you can easily do cash flow projections and run reports, like year-to-date revenue and profit margin by product.
Operations – ordering, fulfillment, production, purchasing, distribution, and inventory
To avoid cost run-ups and damaged vendor and client relationships, these key areas in your company must share real-time information. Business management software helps you track all inventory item levels and stock movements; manage price lists, special pricing, and quotes; and create purchase orders, goods receipts, and invoice payments – in one place.
Human resources
As you grow, you’ll need to have a clear understanding of staffing needs. Should you outsource or start another shift? Business management software gives you the insights you need to understand your resourcing requirements.
Takeaway – Fuel business growth with facts
Running separate spreadsheets and software programs in every department means that you’re spending considerable time cobbling together information – only to find that the ‘apples-and-oranges’ reports don’t give you the information you need. Imagine if you had that time back to spend on growing your business AND all of your key operating data is easily accessible in one place. It’s possible.
The key is recognizing that your current systems no longer fit your growing business – and replacing it with one that does.
Relevant links:
> Whitepaper*: How Successful SMEs are Reinventing Global Business (Oxford Economics)
> How-to article: Design it, build it, install it, service it - more effectively (Zantek IT)
> Ask an expert: Submit your question
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