Many small and mid-sized companies start strong with accounting and other specialty software. However, these entry-level solutions can only take a business so far. It’s only a matter of time until you outgrow basic systems and these software programs no longer meet your needs. Stay in the game and grow your organization by replacing inefficient software with a stronger business management solution.
Entry level accounting software packages, such as QuickBooks, are popular choices for many businesses. It’s affordable and easy to learn. However, there are also limitations with the number of users and volume of data that can be stored. In addition, QuickBooks can’t easily manage other business data such as supply chain or inventory counts, or offer business intelligence features that can identify trends within your data. It’s these types of limitations that can stifle corporate growth. Stay ahead of the competition with an enterprise resource planning (ERP) solution.
Modern ERP solutions offer stronger accounting and financial management features in addition to supply chain and inventory management, manufacturing and distribution activities, payroll, customer management, and more. Business intelligence and reporting features make it easier to follow key metrics such as sales and inventory data. You can monitor metrics and follow sales by product, customer, region, season, or other variables. Tie this data into inventory and create forecasts for future inventory needs. You can make strategic purchasing decisions, for example, saving money on bulk purchases and stocking the products your customers want without overstocking on products that could become obsolete. Greater visibility into business operations can give you an advantage, propelling you ahead of the competition.
The business intelligence features in ERP can also provide insight into specific customer needs. You can access customer data quicker from within a single, centralized ERP solution than with multiple disparate software programs or paper files. Added responsiveness and customized services can create a superior customer experience, strengthening business relationships. Offer each customer prompt, personalized attention and keep them coming back time after time.
You may already be experiencing the telltale signs that you’ve outgrown entry-level business solutions and are ready for something more. Contact BTerrell Group for more information about choosing the right ERP solution to keep you in the game.
By Brian Terrell of BTerrell Group, LLP, Intacct and Sage ERP & CRM provider based in Dallas.