Using a standalone application to manage the finances of your business might be sufficient when starting out, but many things change as your business grows. The number of employees needed multiplies, orders and logistics increase, and hopefully, so does your revenue. In addition to these obvious changes, business owners are forced to deal with, and better manage, the increase in data. Departments have different data, and it is important that each set of data speaks to each other in an effort for the business to run smoothly. Often times with growing businesses, several different software systems are being used, which ultimately results in data duplication, human error, and data mismanagement. Centralizing business data for better reporting with an integrated Enterprise Resource Planning (ERP) system allows management to spend less time on day-to-day tasks, and more time on strategic decision-making.
SAP Business One can help your business gain better intelligence and control of your data by having one centralized system. By doing so, users can leverage the custom reporting and analytical tools available through SAP Business One, providing necessary insight into business operations.
Here are five more reasons you should centralize your business data with SAP Business One.
Reduce Data DuplicationMany growing businesses are forced to try and manage disparate IT systems. Employees have to put data into different systems, increasing the amount of fragmented information and human error. With SAP Business One, a company’s data is placed into one integrated system, allowing employees and managers to enter it once, from the main source, then others can easily access that information from multiple locations. Accounting, sales, production and shipping files all managed through one solution, and all data is stored centrally.
Increased Customer ServiceCentralizing business data not only reduces human error, but also increases customer satisfaction. Reducing human error means its less likely for businesses to make mistakes with orders. By using SAP Business One, users have quicker access to customer records, sales orders and historical data, allowing businesses to improve their level of service and speed.
Improved Visibility into your BusinessWhen systems are disconnected, business processes and interactions can go wrong very quickly. Workers need visibility into other departments for efficient reporting purposes and seamless customer transactions. A supply manager might need item stock levels to fulfill a customer order, and accounting might need to know stock levels to understand the financial value to the business. By having all departments and their data centrally located within SAP Business One, managers can have complete visibility into their business and better control over operations.
Enhanced Decision-MakingHaving your business data centralized means having information at your fingertips. This quick and easy access to information such as sales and inventory, reduces the amount of time employees spend on day-to-day tasks and enhances their productivity. Managers can streamline activities, reconcile financial information, and gain insight into stock levels across warehouses. SAP Business One increases reporting capabilities, and provides more in-depth analysis. With this integrated application, management can drill down into reports, analyze the information, and make more informed, strategic decisions.
Better Manage your Supply ChainWithout an integrated ERP system, there is a lack of traceability within a business’s supply chain. Information can be disorganized and there is often an inability to accurately forecast demand. Integrating all departments and all data with SAP Business One, ultimately improves reporting capabilities and also enhances supply chain management. An efficient supply chain ensures a decrease in stockouts and an increase in order fulfilment rates, resulting in real value for customers.
There is a common theme for fast growing, small and medium-sized businesses. Data can become scattered and fragmented, resulting in data duplication and mismanagement. Using an ERP system such as SAP Business One allows management to integrate all business data, leverage the custom reporting and analytical tools, and ultimately increase customer satisfaction through improved business operations.
To learn more about how to generate, and analyze valuable reports through SAP Business One, download the ERP Reporting Guide.