Have you ever heard the term “ERP” thrown in business lingo, but are unsure what it means? When doing a search for this term, a lot of information comes up – much of it different and perhaps a little vague.
Distribution companies face their own unique set of challenges that aren’t often found in other industries. It can be difficult for them to remain efficient and competitive when having to balance inventory, forecasting, and logistics processes, all while worrying about sales, customer service, and much more.
Organizations often turn to enterprise resource planning (ERP) and business solutions in order to streamline their operations and increase profits. When used to their full potential, adopting an ERP system for your business can reduce time spent on menial tasks, increase the quality of your products and services, improve productivity, and overall provide your customers with a better experience.
Moving away from your legacy system and adopting a new enterprise resource planning (ERP) management solution can greatly benefit your company. Newer ERP solutions are designed to fully integrate and streamline your business operations, using a variety of applications that work together to let you manage anything from finances, HR, manufacturing, etc., all in one place.
Data security is integral to the operation of any business, not only for business owners but also for the information that they store about their customers. There have been numerous instances throughout history of hackers accessing company data and stealing the information of their customers, including login credentials and even personal information like full name and address.
When it comes to gaining and retaining customers, the key ingredient to success is to know your customers well. No matter how good your product or service is, you won’t get people to buy it unless they believe that it is something that they need. By getting to know your customers and their needs more, you’ll be able to formulate a sales tactic based on how your product or service will satisfy those needs.
A KPI or key performance indicator is a way to identify how successful an organization is. By tracking key indicators, an organization can get a sense of how successful they are at meeting their primary goals. An organization’s primary goals are designed to drive a company towards success, so it’s natural that an organization would want to have some sort of indication that these goals are being met.
Non-Profits have a number of compliance requirements and need to produce various reports for various stakeholders. To deliver on these, non-profits have to respond using their limited IT resources and non-profit accounting software that can require extensive manual works.
As your business grows and profits rise, you’ll find that distribution management and supply chain management will become more complex, and inevitably you’ll be faced with growing challenges. Meeting these challenges is essential to hitting business goals like balancing costs while remaining profitable and continuing to see growth.
There was once a time when old accounting software was the perfect solution for managing a business’s finances. The solutions these older generations of software provided were versatile enough to manage the complexities of accounting 10 years ago, but technology has come a long way. This software was once considered essential for the growth of a firm, but it is now instead of dragging them behind.