March 15, 2022 01:30 PM

What are the signs that your business could benefit from ERP solutions?

Tedious and repetitive business processes, like inputting sales and purchase orders from clients, maintaining an updated inventory, conducting manual stock checks, processing invoices, billing and keeping track of client interactions, are also some of the essential tasks that every business of any size needs to stay on top of at all times.

Small and medium-sized businesses often start with simple accounting software and document-based processes such as spreadsheets. But as the business grows, it can become extremely tricky and time-consuming to accurately process a large amount of data that begins to enter the system. This is especially true when all this information is stored in separate systems and databases.

This is where a smartly implemented ERP solution can come in handy. Because every business has its own unique needs, preferences and challenges, it is important to understand when it might be time for your business to embrace the convenience of ERP.

If you are facing any of the issues listed below, we think it’s time you consider implementing an ERP solution to streamline your business processes.

Your data is currently managed by different software & processes

How does your company currently record, track and process information? Do different departments, like accounting, sales, and warehousing, use different softwares and processes?

When different front and back-end systems run independently, it can be an uphill task to have clear processes in place to ensure that your business is running smoothly. For example, inventory management will be tough without accurate sales data, and a lack of updated information from accounting can cause confusion regarding everything from marketing budgets to payroll.

An effective ERP solution integrates all these systems in a way that every business function is linked into a single application. Employees across various departments can make quicker, smarter decisions when they have access to a singular source of information that contains accurate, real-time data.

Inaccuracy in inventory

As a business grows, mismanagement of inventory can have many negative impacts. If you stock too much product, it uses up valuable storage space, ties up cash flow, and items held for a long time might even get damaged, forgotten or obsolete. On the other hand, if you stock too little, it will halt production, force you to incur extra costs for expedited shipping of missing parts and finally culminate in delayed delivery.

If your business is beginning to struggle with accurately tracking inventory at multiple points, and this is starting to impact the bottom line and negatively impact customer satisfaction, then it’s time you consider getting an ERP system in place.

Accounting is becoming confusing and overwhelming

If your accounting department still relies on paper-based invoices and sales orders, and spends an increasing number of hours per week manually entering this data into different accounting and sales systems, it is time to evaluate if all these man-hours are worth the time and effort of accomplishing a simple task that an ERP software can handle with ease, while eliminating the risk of human error.

An ERP system will give you access to all financials on a single dashboard connected to a dedicated database that acts as a singular source of data, doing away with the need to spend valuable time cross-posting information, rekeying numbers, or reconciling data manually.

Customer experience is suffering

In a world of instant online reviews and customer complaints on social media platforms like Twitter, it is absolutely essential for a business to be able to quickly and effectively answer customers' questions and queries about details like order and shipping status, payment status, service issues, and so much more.

Accuracy and efficiency are no longer luxuries but rather the bare minimum that customers now expect from any business. Any shortcomings on these fronts can have an immediate and long-lasting impact on the company’s reputation. An ERP system will make data easily available for you and your customers alike.

Constant scheduling problems

Designing and maintaining a tight production schedule goes a long way in making products profitably and on time. Especially considering the rising costs of staff and operations, it has never been more important to have an efficient production schedule in place to avoid issues like misalignment in project routing and resource time allocation.

An ERP solution provides crucial planning functions based on actual supply and demand data, as well as forecasts, allowing you to set up and follow accurate and timely production plans.

Reporting accurate data to regulatory authorities

Manual reporting is time-consuming, tedious and riddled with the prospect of human error. These errors can be especially harmful to your business if they occur when you are dealing with regulatory authorities.

ERP solutions enable you to capture data accurately and turn it into standardized reports that are required to be submitted to the regulatory agencies. It frees up valuable man-hours while also eliminating the risk of human error.

ERP business software solutions by Web Synergies

At Web Synergies, we help you implement popular ERP platforms like Microsoft, SAP, and also our homegrown ERP platform - iSuite. We specialize in providing cutting-edge and industry-specific ERP solutions to our customers based on their unique business needs. With our industry-specific expertise and a clear understanding of business processes, we are equipped to offer the right advice and guide your organization on the successful implementation of ERP solutions in the most cost-effective, hassle-free and scalable manner.

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