If you are an entrepreneur, you are usually overwhelmed with the numerous tasks you need to comply with, including fulfilling orders, understanding numbers, engaging with the investors, and attending department meetings.
While attending all of these tasks, you are also flooded with hundreds of unread emails. What’s worse is that most of these emails are set as ‘Urgent,’ which makes you feel so anxious. There is no doubt that these activities are daunting. But it is normal for entrepreneurs who manage their own lives and business at the same time.
Considering the hundreds of tasks you need to accomplish for your business, you may notice that your productivity decreases as time goes on. To help you manage your time and tasks effectively, you may consider using ERP (Enterprise Resource Planning).
There are several ERP software you may use, such as 300 ERP and Sage 100. The main work of an ERP system is to put all your business domains in one place. This allows you to have easy access to these domains. You can integrate business areas, including Operations, Sales, Finance, Marketing, and Human Resource in a single place to boost your decision-making process and save more time.
The following are the notable signs that will tell you that your business needs an ERP system. Read on to know further.
Money Matters
There is no doubt that settling your business finances per month and annually is a daunting task. Your accountant might also have a hard time determining these numbers when you hand them the invoices for filing and audit. Unorganized financial information can be the worst nightmare of your organization.
As an entrepreneur, you should always know and understand the metrics of your business, such as Vendor Management, SKU, Remunerations, Income and Expenditure, and Sales Forecast, to name a few. If you constantly notice that the forecasts have low accuracy, then it would be better to use an ERP system to have better monitoring of your business finances.
Considering the importance of proper cash flow and finance management, an inaccurate pulse might negatively impact your business health and lead to a drastic fall.
Software Havoc
Does your business currently using multiple software intended for invoicing, automation, sales, and more? If all the back and front end services are working at the same time and circulating in the same software setting, this can pose a problem to your business.
If you decided to use several third-party vendors, your business might experience difficulty in handling important credentials and data. If that is the case, using a cloud-based ERP could be the best option. This is because it integrates all the software you use in a single connected database.
One ERP can handle various software you use for your business. With that, you can streamline every process coming to your business systematically. For example, if you process your employee’s salary, you can manage it with ease and convenience. Not only that, but an ERP system allows you to manage several entries easily. All the entries will be automated to your employee’s inbox automatically.
Increasing Costs
The main goal of every entrepreneur is to satisfy their customers by providing efficient services. But you may or already have experienced focusing to the perfection of your business to the point that you spend most of your time hiring more employees instead of focusing on boosting your operation.
For instance, your website should include access to the consumer order information, payment status, and shipping information. This is the ideal thing to do instead of hiring a consumer representative to accommodate all these daunting tasks.
These kinds of information about your customers can be stored in a single ERP in no time. Aside from that, these can be accessed by the allowed users using the dashboard of your site. Through this, your organization will save more manpower and decrease your business costs. What’s more? This can also boost your customer satisfaction.
Your Customers Know
In the business industry, your god is your customers. Despite the type of industry you enter, the feedbacks and overall experiences of your consumers will define whether your business will fail or succeed. When your business constantly receives complaints regarding not meeting the customer’s expectations and flat or slow sales growth, there is a high possibility that you manage your business wrong.
Instead of listing the entire business functions, using an ERP system integrates the whole domains important to your business in detailed and immediate snapshots. This will help you to boost your operational efficiency while fixing the gaps connecting your consumer satisfaction and business strategies.
ERP is Designed for All
Even though there is a term “Enterprise” in ERP systems, this does not mean that it is only intended to be used by entrepreneurs. Take note that an ERP system works by integrating several business domains in a single place. Considering that today’s generation has gone through drastic improvements, this tool is ideal for different forms of business and sizes.
When all your business processes are consolidated in one dashboard, you can ensure to create fast strategic decisions and access all of these at your fingertips.
Multiple Roles
Are you one of those business owners who need to accommodate every single email thread sent by several departments? This would be the worst experience business owners could ever experience if they are using spreadsheets and silos. This is because it is impossible for you to create several data in no time. If you are using only spreadsheets or silos, you are wasting most of your time reading long emails, reconciling each of them, and analyzing the data.
With the help of an ERP system, you can accumulate relevant information in one platform with several roles, such as Guest, Editor, or Admin. Each of them has different permissions to access. You can access the data instantly, which is one of its notable benefits.
Final Thoughts
An ERP system is beneficial for any type of business, especially to those business owners starting in the industry. A startup business means limited resources and budget. But, when you use ERP for startups, it helps you to boost your business processes while saving a lot.
