If you’re a small to medium-sized business owner wondering if you need to invest in an Enterprise Resource Planning (ERP) solution, it’s likely that your current processes aren’t quite cutting it.
We see many businesses still operating with the same systems that they first started out with, not realising that they’ve actually outgrown them. If your data has started to get out of control, your reporting is inaccurate and you’re wasting valuable time and resources trying to get things in order, it’s time to consider a fully integrated, scalable solution.
The right business management solution can transform your business, streamline its operations and quite simply make things run more smoothly.
If you’re still in doubt, here are six signs that investing in business management software is the right move for you.
1. Your processes are disconnected
Undoubtedly one of the most common growing pains in business is the sheer amount of processes and procedures that get built up over time.
Some of your day one processes may remain the same, but past and present employees may likely have expanded on these and introduced their own ways of working. Now, you’re in a situation where different departments and individuals are doing their own thing, their way, and nothing is connected.
Drowning in a sea of disconnected processes means that things become difficult to juggle, and communication inside the organisation starts to break down. This type of situation can quickly turn chaotic, limiting productivity and success.
Sure, you might be successful working without an ERP solution – but could you be more successful with one? The answer to that is often yes, as connecting all of these processes and ensuring that every employee and department are singing from the same hymn sheet is a surefire way to improve efficiency across the board.
2. You’re buried in spreadsheets
Spreadsheets have a time and a place and can be incredibly useful for a whole host of data-driven tasks. However, if your business is relying heavily on Excel for reports, there will usually come a time when this way of operating is unsustainable.
To start with, spreadsheets are far from collaboration-friendly. Too many cooks really do spoil the broth, and more than one or two people working on the same spreadsheet increases the risk of data conflicts and inaccurate reporting.
Needless to say, spreadsheets are also single stored files which are easy to overwrite, replicate or save in the wrong location. This opens up the risks of having outdated versions and incorrect data scattered across the organisation.
Continuously updating spreadsheets and re-keying data is a time-consuming process and one that’s open to human error, as opposed to the safety net of a well-structured database.
3. Discrepancies in your reports
If you’re often questioning the accuracy of your accounts, reports or forecasts but you’re using several different systems to collect that data – then there’s your answer.
Discrepancies in monthly reports or accounts typically stem from the way the data has been recorded in the first place. If you have separate systems to record your sales, stock, accounts and so on, then it’s near impossible to keep them all in sync.
A lack of ERP makes it extremely difficult to keep on top of all of this data and ensure that the reports at the end of the month are accurate. At the end of the day, businesses rely on data, and if your current systems aren’t fulfilling the need for accuracy then they’re deemed quite useless.
By simply storing all of your data in one centralised place, you can save a considerable amount of the time that it takes to question the discrepancies and go back and forth over the data before you get it figured out.
4. You have information silos
Any business using multiple tools, apps and systems to generate or record data are highly prone to information silos. This occurs when information is scattered all across the business, and teams are failing to communicate with each other.
A lack of information being shared results in individuals and teams basing their decisions on their own data, or incorrect data. Inconsistencies in data can be detrimental to businesses and their success, but it’s commonplace in organisations that are using disconnected or outdated systems.
Overcoming the challenge of locating and keeping on top of information is easily done with the implementation of an ERP solution. With the data being accessible to everyone in the company all in one place, this eradicates the need for chasing individuals to retrieve the data you’re looking for, and the risk of it getting lost along the way.
5. You’ve implemented remote working
The risk of information silos is exacerbated when it comes to working remotely. If, like many other businesses, you have transitioned to a remote or hybrid working model, communication and collaboration can become a real problem if you’re still operating outdated processes and procedures.
It’s essential that everyone in the business, including remote workers, have access to the same information. This is near impossible when the documents or systems needed are hosted locally. This is where a cloud-hosted business management solution comes in.
By storing all of your important information on a single cloud-hosted solution, your employees can access it anywhere, and at any time. This removes many obstacles that can limit your team’s productivity and ability to work efficiently.
6. Your business is successful
Yes, really. A successful, growing business is a strong indicator that you need to improve and streamline your processes before it becomes too much to handle.
Whilst a growing business may mean more profit and opportunities, it also means there are more things to juggle. You can expect to be taking on more employees, generating more customers and handling more data. All of the above will be a challenge to keep under control without an integrated ERP solution.
Integrating all of your systems and processes into one central hub is the best solution to effectively managing all of these extra responsibilities, which is what a business management solution will do for you.
Overhauling your current processes and implementing an ERP solution can be challenging if you don’t know where to start – and that’s where seeking the help of an expert can help. m-hance specialise in implementing software such as Microsoft Dynamics 365 Business Central into businesses of all sizes, in various industries.
We can help you to transition over to the software and train your team to utilise all tools to their full potential to ensure you’re getting the most out of it. To transform your business operations, get in touch with us, we’d love to hear from you!