How can an ERP help you manage your business better?

Your business is constantly changing. However, is it easy for you to understand the company's KPI performance as it relates to product lines, locations, and customers? Can you see performance over time? Instead of analyzing business performance, do you and your team spend more hours extracting data and consolidating and generating reports?

82% of companies fail due to poor cash flow management and lack of knowledge. Problems such as cash flow anticipation, manual tasks and disconnected information make financially managing a company very complicated.

Having an overview of these financials was probably easier when the company was limited in size and had a smaller, more compact team.

As companies grow, managing them becomes an increasingly complex task:

• More employees requiring more administration expenses.
• More customers and suppliers with more orders, invoices, receipts and expenses.
• More product lines and services.
• More locations, more business entities and satellite offices.
• More stakeholders, more legal and regulatory requirements.

As your company grows or even in times like the present, where telecommuting is active in many companies, it is possible for teams to lose coordination.

To find out why a customer has filed a complaint, you may have to consult with at least five people before you get a complete report. In addition, the disconnect between departments can be intensified if each department is working with different performance objectives, creating an environment where teams are not looking for the same results.

• As companies grow, it becomes more difficult to organize ad hoc meetings. Developing companies face a variety of challenges:
• More employees means larger teams and departments with only one or two employees.
• Remote or geographically dispersed employees working in different locations and time zones.
• Performance indicators by department.
• Internal competition stimulated by teams working on different products, services or accounts.
• Pyramidal organizational structure instead of horizontal organization

Technology can radically change the way you run your business, and those changes are not just about work tasks. Technology can also bring cultural changes and influence the way people carry out their roles within the company. And this can lead directly to better and faster growth.

Imagine if it were possible to automate routine financial tasks and free up time to analyze key data trends and make better decisions. Automating manual tasks using intelligent tools would allow you to increase the value of your company's operations. Instead of dealing with processing, reconciliation and reporting, you could focus on the real analytical insight and corporate value that financial data generates.

If any of the above points sound all too familiar, chances are your company needs an enterprise resource planning (ERP) system.

In these scenarios, Enterprise Resource Planning (ERP) solutions allow companies to stop working with Excel and spreadsheets for accounting and finance, providing a centralized system to control all relevant business processes, providing practical and useful data, sharing data with customers and suppliers, improving service, reducing costs and increasing margins.

Our recommendation. Get Enterprise Resource Planning (ERP) software that allows you to evaluate business performance and analyze business trends based on your size. Need to compare the net profitability of location A to location B? No problem. No problem. Need to evaluate your best customers from this year versus last year? Need a consolidated or isolated view of each of your company's financial performance?

From PKF Attest as experts in the implementation of Sage business solutions since 2002, we offer you Sage X3, the new generation business management solution designed to improve the agility of the organization and make your company grow faster.

If you want to know everything that Sage X3 and PKF Attest can bring to your business, click here.