Will 2020 be a year of growth for your business? While it’s impossible to predict the future, one can still explore how new technology and practices can position your business for growth as we enter this new decade. Cloud ERP in particular, like Acumatica, can make a big difference in a company’s growth trajectory.
How Does Software Enable Growth?
Can software drive growth? No, on its own, software cannot do very much. However, when people, strategy and processes join forces with flexible, powerful cloud ERP solutions, the potential for growth can be startling.
What is cloud ERP? Briefly, solutions like Acumatica are browser-based versions of the classic Enterprise Resource Planning (ERP) applications. Yet, they go much further than legacy ERP. Acumatica, for example, offers add-on modules for manufacturing management, distribution businesses, field service, Customer Resource management (CRM) and more. It’s a complete business management solution, not just ERP. It’s cloud-based, so you don’t have to buy hardware or software licenses to use it.
Here are five ways cloud ERP, used in the right way, can facilitate revenue and earnings increases:
1. Save money and invest in your business
Cloud ERP saves you money on operating expenses (OpEx) by way of reduced IT overhead. You can cut capital expenses (CapEx) because you don’t have to tie up cash or take on debt for servers, storage and data center facilities. You can redeploy that capital, investing in new lines of business, marketing campaigns, money-making equipment and so forth.
2. Get closer to your customers and grow your accounts
With CRM and quote-to-order tools, you can grow your business by improving customer engagement. CRM gives you an overview of sales forecasts as well as the ability to dig deeply into the sales status of specific accounts. With CRM, you can also engage in meaningful marketing campaigns that turn prospects into customers and nurture existing customers so you’ll be top of mind when it’s time to buy. Learn more about integrating ERP and CRM.
3. Improve customer service
When you connect customer service, operations and sales using cloud ERP, you have the ability to deliver a consistent, high-quality customer experience. Customers who are well-cared-for tend to become repeat customers. Having a lower rate of customer churn makes it easier to increase revenue. You don’t have to replace customers who defected due to sub-optimal customer care.
4. Be more agile
Cloud hosting translates into flexibility of ERP solutions. Cloud ERP can add functional modules with relative ease. That way, if you want to make a move like adding 24-hour a day live customer support, you can add the software for the capability pretty much instantly. Similarly, if you want to extend your systems and integrate with those of other companies like suppliers or partners, the cloud Application Programming Interface (API) make as this a fairly straightforward, inexpensive and fast process. It’s certainly far simpler than using custom-coded connectors in legacy ERP solutions.
5. Get smarter by running analytics on your data
Your business data contains a wealth of potential insights that can help you grow your business. Modern cloud ERP makes this data available, with rich data visualization, analysis and reporting features.
Grow in 2020 and Beyond With Cloud ERP
Cloud ERP can help you start 2020 on a growth trajectory. You can get started now, working with us to understand your ERP requirements and formulate an effective implementation plan.