Growing companies need Enterprise Resource Planning (ERP) software. Put another way, if your business is growing, you may need to upgrade your legacy ERP software. While software alone won’t make your business grow, executing a growth plan without the right software will be a bigger challenge than it needs to be.
What’s New in ERP?
ERP is not new. You could even argue that it’s middle aged. The core of ERP, which was created to help run big factories and logistical operations, came into existence in the early 1970s. ERP’s origins lead some to consider the software to be a “heavy iron” technology, suited to global giants and industrial processes. There is still some truth to this, but we are now into a new generation of agile, powerful cloud-based ERP solutions.
Cloud ERP, as exemplified by Acumatica, makes it possible to deploy sophisticated business management solutions without installing software or buying any hardware. It’s available over the Web, via a browser. Acumatica is an extensible system. It can do basic ERP workloads like accounting and financial management, orders and invoicing and so forth. However, from there, you can add a significant portfolio of modules. These include software for warehouse management, field service, Customer Resource Management (CRM), HR, industry-specific applications and on and on.
Grow Revenue with ERP
Used the right way, ERP can facilitate revenue growth. This happens when you take advantage of sales management tools and functionality like quote-to-order and product configuration. With these capabilities, you can engage more closely with customers, responding to their needs quickly and closing more deals. The order fulfillment and subsequent customer support features in cloud ERP keep the customer relationship on a solid footing—leading to more repeat business and client references. This is possible without ERP, but it will be a lot more work.
Save and Invest for Growth
Modern cloud ERP drives savings across the business, including Operating Expense (OpEx) and Capital Expense (CapEx). You can use the proceeds of these savings to invest in strategies that promote growth, e.g. marketing campaigns, new hires and so forth. In terms of OpEx, cloud ERP enables people to work more productively, using automated workflows to speed up business processes. The connected nature of the extended Acumatica system reduces manual process steps and re-keying of data into the solution.
The ERP toolset provides for improved scheduling of production operations and field service. With data analytics and visual dashboards, the ERP solution can help managers anticipate problems and react before they become expensive to solve. Advanced inventory management features give you the ability to conserve cash and cut down on costly mistakes like stocking merchandise for so long that it expires.
Protect Your Business, So It Can Grow
The last few years have demonstrated conclusively that a cyberattack is a costly distraction that then results in a huge remediation expense. A serious data breach, for instance, will probably put a damper on your growth plans for a good six months or more. ERP software does not guarantee security, however, modern cloud ERP solutions offer a number of security advantages compared to legacy systems. For instance, the system runs in a highly secure data center. The cloud architecture also makes possible a level of redundancy that protects you from outages resulting from attacks.
2020 promises to be a year of growth. ERP can be part of your success story. If you want to learn more about how cloud ERP can help your business grow in the coming year, let’s talk.