Enterprise resource planning (ERP) systems track all the financial activity in a business. The scope of ERP systems wider than that of traditional ‘finance’ software, as everything from resource management to procurement falls under ERP. The right system can save huge amounts of time and make gathering data for financial reporting a breeze. The wrong system can be an impediment to growth and efficiency.
At City Dynamics, we’re experts in implementing ERP systems that help integrate business processes and improve financial management. So how can you be sure it’s time to upgrade? Below are five examples of motivators we see often. How many are true for you?
You’ve outgrown your system
If your company is scaling-up fast, and every action in your system feels arduous, it’s likely you have outgrown your ERP. The systems (whether on-premise and cloud) commonly used by SMBs are often too basic to be effective for growing companies. Red flags include a system that is inflexible, slow, or hard to use. ERP should automate key tasks and processes, reducing resources spent on repetitive manual activities and freeing up employees to be more productive. Are you aware of system limitations that prevent you moving forward in your processes? When new technology starts to change the landscape in your market, how quickly can your ERP supplier adapt your system to catch up?
You over-rely on Excel
When your team rely on spreadsheets and spend endless man hours trying to gather data for reporting and compliance, it’s an inefficient and frustrating waste of time. It’s also an obvious indicator that your ERP isn’t doing its job. A Microsoft Dynamics 365 ERP system will improve productivity, and encourage adoption of best practice through automation. With a Microsoft Dynamics ERP system designed to fit your business, your team can quickly generate any kind of report: financial; sales; operational; inventory or procurement. Similarly, the analytical capabilities of ERP will help to support cooperation and collaboration and drive speedy decision making across your business.
Your ERP is expensive and inefficient
Older systems become increasingly expensive to operate, especially if the software has been superseded and is no longer supported by the developer. Likewise, outdated hardware or too many customisations (to compensate for a solution that didn’t really match your business in the first place) can make a system unreliable and very expensive and laborious to maintain.
You want to simplify your finance team’s workflow
The best ERP systems help you make far better use of your best resource – your people, freeing your team up to process documents faster, assisting with more in-depth analysis and forecasting and meeting improved reporting deadlines faster as the data analytics and connectivity of applications means that information is at their fingertips. No need to laboriously search, and compile reports. ERP software should automate tasks and processes, leading to a huge reduction in employee effort on daily, repetitive, manual data entry functions.
You suspect your current ERP is a major obstacle to delivering excellent customer service and your plans for growth.
You know you’ve lost business to competitors because they are easier to deal with than you. This is unlikely to be purely a software issue, but the knock-on impact of an inefficient ERP on everything from customer service to delivery is likely to be a major factor. By switching to an ERP system from Microsoft, designed to fit your business, it will integrate financial processes with your CRM, HR and e-commerce. An effective ERP platform will improve your supply chain making it more responsive through better demand forecasting, and more efficient procurement. which will also bring down costs. From a customer perspective, a fully integrated ERP system promotes a seamless, joined-up experience.
City Dynamics offers ERP solutions designed and configured to fit individual business needs. Our ERP software, powered by Microsoft Dynamics is available on-premise or as a SaaS product in the cloud. To find out more, contact email@example.com or visit our other blogs coveringa range of Dynamics related content.