Why you should be looking at upgrading your ERP system

If you’re still on the fence about upgrading your ERP, consider this: ERP upgrades are necessary to keep pace with the latest ERP products on the market.

Upgrades ensure you have access to all the latest features, functionality and technology from the most innovative vendors in the industry.

It’s obvious that running your business or organization on an outdated ERP system is not the best option, but it’s also not uncommon. We’ve seen many organizations operating with outdated technology and we understand that it can feel overwhelming to consider upgrading.

As a business owner, you’ve made significant investments to ensure your organization has the systems it needs to run efficiently and effectively. However, with the fast pace of technology change, without proper maintenance that investment can become obsolete quickly. As this happens, you will see a decline in productivity, efficiency and possibly even sales.

Unfortunately, too many businesses stick with an old ERP system simply because they don’t know what else to do. They’re afraid of the time and money it will take to implement a new ERP system, or they just don’t have the expertise to manage an upgrade.

If your current ERP or CRM software is more than 3 years old and/or hasn’t been upgraded in that time frame, now is the time to look at upgrading your software. Here are some reasons why.

Why upgrade your ERP system?

Upgrading your ERP is a great way to improve your business processes and efficiency. Rather than having to reinvent the wheel each time you face a new challenge, you can leverage your existing data assets with an upgraded application that can help you work faster and smarter.

When you upgrade from an outdated system, you can: Save hours each week by eliminating unnecessary manual data entry. Increase your computer and smartphone productivity. Eliminate errors and make more accurate financial decisions. Improve quality control and boost the efficiency of your business processes. Keep you on track for regulatory compliance, meet your goals and stay competitive in today’s global economy.

What are the benefits of upgrading your ERP system?

The 5 biggest benefits of upgrading your ERP system can save you time, keep you from making costly mistakes, protect your business and business reputation, enhance the quality of your data and most importantly, increase your profitability.

1. You’ll save time

It’s easy to get stuck in a rut with an outdated ERP system. You may think you’re saving time by not learning a new system, but continually working with an old ERP system ends up costing you in the long run. Upgrading to a modern ERP system allows you to spend less time on administrative tasks and more time on growing your business.

erp saves you time

2. You’ll avoid costly mistakes

When you upgrade your ERP system, you’ll be able to take advantage of built-in features that are designed to prevent mistakes, such as duplicate entry errors and incorrect calculations. These are easy to miss when you’re using an old ERP system. By avoiding costly mistakes made by not upgrading your ERP system, you avoid penalties such as fines and lost revenue due to fraudulent activity or errors in your customer data.

eliminates costly mistakes with ERP

3. You’ll protect your business and business reputation

Upgrading your ERP system is one of the best ways to protect your business from cyberattacks because it will include the latest security and encryption capabilities. An updated ERP system can also help prevent data loss through bugs or glitches in the software, which will protect both your reputation and your bottom line. Upgrading to a modern ERP system offers greater security for your company’s most valuable assets—customers and employees. In addition, it safeguards the integrity of your business’ data which is essential for the ongoing success of your company.

Supply Chain Management with ERP

4. You’ll improve the quality of your data

When compared with manual data entry, an upgraded ERP system helps reduce errors by eliminating the possibility of human error. As a result, it facilitates accurate reports that help you make better decisions based on accurate information. The data in your ERP system is only as good as the system itself, so if you’re using an old one, you could be missing out on valuable information that could help you improve efficiency and profitability.

ensure data quality with enterprise resource planning software

5. You’ll become more profitable

When properly implemented, an upgraded ERP system boosts profits because it provides solutions that can be customized to fit your business processes and needs. This can include everything from streamlining inventory management, to reducing the number of errors and mistakes made in order inputting and processing. Not only does this mean there is less waste and higher productivity, but also fewer errors means greater customer satisfaction and retention.

upgrading your business systems makes you more profitable

It’s obvious that running your business or organization on an outdated ERP system is not the best option, but it’s also not uncommon. We’ve seen many organizations operating with outdated technology and we understand that it can feel overwhelming to consider upgrading.

Additional benefits include:

1. Improved customer service – Efficient operations lead to quicker response times for customer inquiries and faster order fulfilment.

2. Competitive advantage– If you aren’t using the latest technologies to run your business, you won’t be able to compete with those who are.

3. New functionality– Upgrading allows you to take advantage of functionality and features that didn’t exist when your current system was released.

4. Improved employee productivity– Inefficient operations waste employee time and lower productivity. With an upgraded system, employees can work more efficiently, resulting in cost savings and greater productivity overall.

ERP software has come quite a long way in the last few decades, and as such, it’s a great option for companies large and small. An upgraded ERP system can help you work faster, smarter, and more efficiently. It’s also important to note that upgrading your ERP is a lot easier to do than it used to be.

In the end, an upgrade is a great deal for almost any business. You shouldn’t think of it as an expense, but rather as an investment. The benefits that you reap from a newer and better system will keep paying off throughout its entire lifecycle, and even after your business has outgrown it.

We live in a world of constant improvement, and to be successful today, you must be ready to roll out new solutions at a moment’s notice. Upgrade your ERP system today to make yourself more efficient tomorrow.

There are many different ERP systems available on the market today, but SAP Business One is proven to be both the most efficient and user-friendly option. To learn more about SAP Business One and its wide array of benefits for your business, be sure to check out our free solution brief.

What are the benefits of cloud ERP?

In recent years, cloud computing has been heralded as the next big thing in technology. With cloud ERP, it’s not only the small and midsize enterprise (SME) that can benefit from on-demand software solutions. Even large companies are jumping on the bandwagon to take advantage of the benefits of cloud ERP.

There are a number of factors that businesses need to consider when creating a strategy for transitioning from legacy ERP systems to next-gen solutions. While the solution’s capabilities and features/modules may be critical, it’s also important to take time to evaluate the deployment option itself.

Cloud ERP is a model of enterprise resource planning (ERP) software deployed as a hosted service over the Internet. This generally includes the use of cloud computing resources and is often delivered as a Software as a Service (SaaS) model.

Cloud ERP is a cloud computing solution for ERP, used or accessed by users through a web browser. It is similar to SaaS ERP, except that SaaS is a subset of cloud ERP.

Cloud ERP can be thought of as a middle ground between on premise software and SaaS ERP.

By itself, the cloud doesn’t solve all of your company’s problems. But cloud ERP can reduce your up-front and ongoing costs and allow you to focus your technology resources on improving your business.

If you’re looking for a way out of outdated or underperforming legacy ERP systems, here are five benefits of cloud ERP for you to consider.

Lower capital requirements to access innovation

With traditional on-premises systems, when you invest in new technology, you pay for it up front. Then, as your company grows and requires more computing power, you often have to pay again to upgrade to more hardware.

The initial cost of cloud technology is lower than on-premise technology. Cloud-based applications can reduce upfront costs for companies that would otherwise have to invest in physical hardware and software.

Built in Disaster Recovery

Nobody wants to think about disasters happening to their businesses. But they can happen, and it’s smart to be prepared.

The latest cloud ERP software enables you to recover your business operations quickly after an interruption if your physical site is destroyed or suffers serious damage. That’s because the entire system operates on multi-geo locations, which means if one data centre goes offline due to an unexpected phenomenon, you’ll still have full access to your ERP system.

Scalability

 Scalability is a huge feature of cloud software: it allows you to grow without taking the risk of over-investing at the beginning. A lot of the time, small businesses don’t know what their future holds. They can be constrained by loyalty to an on-premises solution, which locks them into a certain number of users and upgrades that they might not need.

Automatic upgrades

Upgrading your software can be a complicated process. With traditional on-premises systems, you typically need to hire a team of IT professionals to perform the upgrades — a process that can take weeks or months.

With cloud ERP, your software upgrades automatically when new features are added. As a result, you can spend less time managing upgrades and more time growing your business.

 Fewer infrastructure costs (technical requirements)

Another benefit that keeps popping up is the non-reliance on infrastructure. As a cloud ERP solution is a web-based service, you don’t need to worry about installing and maintaining servers or software. You also don’t need to worry about setting up database connections and other technical requirements. That means you can focus more on improving your business performance.

In summary:

There are several benefits of cloud ERP with the primary benefits being scalability and cost.

  • The cloud provides significant savings in hardware, software and other infrastructure compared to on-premise software
  • Additionally, with hosted ERP, an organization can implement the vendor’s entire suite of applications. This minimizes the need to implement and integrate another application at the back end.
  • Cloud-based ERP enables greater collaboration, better communication and faster response times. Organizations can collect data in real time, which allows them to react quickly.
  • Hosted ERP moves the responsibility for maintenance and upgrades to the cloud vendor. This simplifies and streamlines IT operations.
  • With a cloud-based ERP strategy, an organization’s ERP environment has built-in disaster recovery, which means the organization can proceed through regular business operations, even during a disruptive event.

Looking for more information? Visit our dedicated SAP Business One Cloud page here

What are the Business Benefits of SAP Business One?

In this blog we’ll examine the business benefits of SAP Business One and why it has been called the “most powerful ERP software for SMEs” on the market today.

So, what are the benefits of implementing SAP Business One?

The short answer is SAP Business One empowers your small and mid-market organization to make smarter, faster decisions rooted in real data with insights into your business across all functions.

If you’re a small or medium-sized business, then it’s likely that you face the challenge of balancing all the different aspects of your business. Letting each aspect run on its own doesn’t do your business any good if they don’t work together closely – and that includes managing business finance.

To help your small business manage these various systems and processes, SAP Business One is here for you.

Buying into SAP Business One includes increased productivity, streamlined business processes and higher employee satisfaction for your business. There are many benefits of using an ERP solution like SAP B1, let’s take a closer look at the top 5 benefits in detail.

Increased Revenue

Customer and sales information is critical to any business. The way you use the information can make all the difference. SAP Business One delivers real-time customer information to small and mid-sized businesses – so you can keep it current, maintain accurate records and have a better idea what products and services to sell your customers – ultimately helping you increase revenue.

Reduced Costs

It’s not a secret that legacy systems are cumbersome, costly and emerging inefficiencies in these systems can adversely impact the bottom line. A SAP Business One installation has a cost benefit compared to a traditional ERP system.

SAP Business One allows you to reduce extra costs associated with legacy systems by streamlining your processes. It also saves you time and money by helping you identify inefficiencies and control inventory better.

Improved Efficiency

SAP Business One gives you increased efficiency with an integrated business platform that provides all the information you need. It allows your employees to access data instantly, so they can make faster business decisions and redundant data entry is eliminated.

At the end of the day, better information means more efficient processes and faster transactions. With full visibility into all aspects of an organization, SAP Business One effectively streamlines business processes and increases overall efficiency.

Improve Customer Relationships

Don’t put the success of your business at stake by having bad customer service. The best thing you can do is to have a centralized system for all your customer service operations.

SAP Business One will ensure that your customer gets the information they need at the right time. This ensures that you maintain a good relationship with them, and they continue to rely on what you have to offer.

Fast Time To Value

As the market leader for ERP software, SAP offers fast time to value. SAP Business One applications are easy to implement, and their best practices content makes it easy for you to make decisions quickly and ensure a strong ROI.

With SAP’s proven methodology and best practices, you are guaranteed a fast and successful implementation.

In summary

The business benefits of SAP Business One are many, ranging from the ability to provide enhanced customer visibility (if you have a recurring relationship with your customers) to saving money by decreasing manual processes to increasing efficiency and revenue.

As a SAP Gold Certified Partner and expert in business applications and software, Signum Solutions delivers proven expertise in all areas of SAP Business One solutions.

At Signum, we remove complexity and improve efficiency. Through a combination of deep SAP expertise, keen insight, and smart technology, we deliver innovative solutions that help you meet and exceed expectations. If you want to know if SAP Business One is right for your small business contact us today!

What is ERP for Small Business?

ERP for small business is getting to be a popular topic, and it’s not hard to understand why. A small business that implements an ERP solution can add significant value to its operations.

The term “enterprise resource planning” may sound like one of those daunting business concepts reserved for Fortune 500 companies. However, it’s becoming increasingly popular with small businesses as well. But what is ERP, who needs it and what benefits will it give? Let’s take a brief look…

What is ERP?

Enterprise resource planning software (ERP) is a business management system that allows for the organization of all a businesses’ different departments into one overall system. Examples of departments are accounting, supply chain management (aka purchasing), and production control. ERP software connects these departments in one single system.

Who needs ERP?

If your business is still small but you are facing the complexities and difficulties of managing it effectively, then you might want to consider implementing an Enterprise Resource Planning (ERP) software.

In fact, most of today’s growing businesses start with only a few people or even just one person. As their business grows and more employees become involved in different aspects of running the company, these companies eventually reach a point where they need to implement an ERP system to help them manage their operations efficiently.

What are the signs that you may need an ERP?

  • Inventory is hard to manage
  • No visibility into business data
  • You struggle to meet customer expectations
  • You (and your customers) suffer from manual input errors
  • Business relies heavily on excel spreadsheets

What benefits do small business get from ERP?

  • Improving overall business performance
  • Reduce costs
  • Support business growth plans
  • Gain visibility into business data and financials
  • Eliminate manual processes
  • To replace disparate systems
  • Technological advantage over competitors

 

If you’re looking to bring all aspects of your small business together, ERP may be the solution you need. When considering the complexity and time-consuming nature of running a small business, it’s essential to make your most important tasks easy.

Adopting an ERP system and improving a business’ productivity is one of the most important initiatives that a small business owner can make. If your business is still using old-fashioned paper systems to manage your finances, shipping, and your inventory, you are missing out on many benefits and growth opportunities.

There are many software options for small businesses looking to implement Enterprise Resource Planning, or ERP software. Therefore, it’s important to do your research before deciding on a solution.

Signum Solutions is an SAP Business One Gold Partner and has been helping clients with their ERP projects for over 18 years. We are committed to helping small businesses thrive, and we would love to speak with you about the value ERP can provide your business.

If you want to figure out whether your company is ready for an ERP software solution, contact the team at Signum today!

SAP Business One for SMEs is the Perfect Fit

SAP Business One for SMEs is an up-to-date, comprehensive ERP solution that adheres to your availability requirements while implementing the needs and requirements of small and medium sized enterprises.

As your business grows, you may look for ways to streamline operations and boost productivity. By choosing an affordable business system designed specifically to fit your needs, you can achieve these goals and more. One solution that’s ideal; SAP Business One for SMEs.

A medium-sized company of today needs a flexible and efficient system that processes data as quickly and accurately as possible. SAP Business One ERP offers you the right solution for your business.

Specifically designed for the SME market, it combines key business functions in one system to help you get control over your operations, reduce costs, increase profitability, and improve your service levels.

With dedicated software, built for SMEs, you can react more quickly to customer requests and make your company more profitable. It also provides the speed and efficiency needed to deliver products or services while managing costs competitively.

SAP Business One’s unique point of view makes common business processes easier and helps companies to grow profitably, develop their brands and strengthen relationships with customers.

In addition, SAP Business One supports the integration of partner networks or business partners and third parties, facilitating cross-organizational collaboration and integration opportunities for customers.

This enables your business to grow and evolve with its own level of complexity and still always use the standard software and interfaces. A wide array of add-on products is also available to enhance the core functionality of the solution.

This extensive range of functions allows you to record all company processes in accordance with current business requirements. This saves time and simplifies business procedures. You not only streamline single processes, but also link them to each other, so that you can view the results of each individual business process at any time.

Take a look at the SAP Business One Solution in detail here

SAP Business One is a global industry-leading business management software solution, used by over 70,000 small and medium-sized enterprises. It is also available in the form of the SAP Business One Starter Package, ideal for businesses who initially only require the services of up to 5 users.

SAP Business One transforms your business by enabling you to manage it in real time, from anywhere. Operationally, you can increase efficiency and reduce IT management costs.

Powerful yet simple, SAP Business One for SMEs gives you access to enhanced visibility and better decision making at a small business’s cost.

Want to know if SAP Business One is the perfect fit for your business? Contact one of our business experts today!

Cloud ERP Software for Small Business

Cloud ERP software for small business allow business owners to have the best of both worlds–to have a scalable solution to their needs and to have a cost-effective software.

Working in a small business can be challenging. After all, there are just so many decisions you have to make on a daily basis. From figuring out which service to provide, to choosing the right technology solution, there are a lot of things that must be considered and more often than not the pressure is on.

But the good news is that you can now get help when it comes to your business’s accounting and operational needs with cloud ERP software for small business.

Small and mid-sized businesses often struggle with the question of whether to choose an on-premise or cloud-based ERP software.

Selection of the right solution will have a major impact on your overall efficiency and productivity, which is why it is crucial to weigh up both options before making a final decision.

Let’s take a look at some of the benefits of cloud ERP software for small business rather than on-premise ERP software.

Flexibility

Cloud ERP offers more flexibility than a conventional software solution because it can be accessed from anywhere, providing you have a working internet connection. This means that decisions, data sharing and reporting can be performed at any time from any location.

Scalability

Cloud ERP has massive benefits, but one of the greatest is the ability to quickly scale up or down as needed. This can prevent headache-inducing issues during times of growth or contraction.

Reduced Implementation time

It is undeniable that systems on a Cloud can be configured far faster compared to an on-premise solution. Since small and mid-size companies can go live with the solution very quickly, it’s easy to see why so many companies are adopting Cloud.

Cost value

While on-premise ERP can be expensive, Cloud-based offerings often do not require a large upfront payment and can help spread costs over time. If your goal is for costs to stay down, then Cloud ERP will be appealing to you.

In summary, Cloud ERP software for small business is a popular solution considering it eases the complexities involved in implementing IT infrastructures and software costs.

If you’re looking for ERP software that will allow you to enhance efficiency and productivity, the cloud option might be a good choice. If you would like to discuss Cloud ERP or any business software in general, then get in touch today! 

Benefits of using Business Management Software

A business management software system (or ERP) is a software package that automates business operations. It can be used for everything from retail to production and can help you work more efficiently and accurately.

Business management software has become a popular way for small businesses to run more efficiently, and many large companies continue to adopt this practice in order to reduce their expenses and cut their time for administrative tasks.

In addition, there are many specific benefits to using business management software. These include improved supply chain activities, better inventory levels, more cost-efficient manufacturing processes, and fewer errors from human data entry.

A business management system (or ERP) gives you more time to analyse and grow your business, making your business more organized and profitable—while better serving customers.

The following are the top 3 benefits of having a business management system.

Increased Productivity

One of the biggest benefits of using a business management system is that it cuts out a great deal of the time spent on administrative tasks, which is one of the most significant costs for many organizations.

Using business management software allows your employees to get more done, because it does the tedious jobs for them. They can spend their time doing other, more valuable, and meaningful work.

Improved Inventory Management

Having a quality business management software system can be very beneficial. It will help you optimize your inventory levels and make inventory control more precise, which in turn prompt you to make informed decisions. This will certainly raise your company’s profits significantly.

Real-time Reporting

With a business management system, your business will be able to gain in-depth knowledge about its financial situation. True real-time reporting can dramatically improve your business and direct access to information means faster, more accurate business decisions every time.

Summary

There are a lot of business managers that might wonder whether or not technology is good for their company. It can often be hard to tell whether the benefits of business management software outweigh the costs until you make the decision to implement.

But in reality, technology is good for just about any company no matter its size.

A business management system makes running your business easier, allowing you to focus your attention on the growing aspects of your business. It also allows you to manage finances, projects, and human resources efficiently and easily.

There are so many business management software solutions available on the market and it can be difficult choosing one that you can rely on.

However, if you’re looking for an efficient solution which will enable your business to work more effectively, get in touch with one of our Signum Solution experts today!

Reasons Why Small Businesses Should Invest In An ERP Solution

For years, many small organizations have had no need for an enterprise resource planning solution. Their needs are typically limited to the tracking of sales and financial data, as well as the provision of customer records and simple inventory management. However, the needs of a small business often change over time. As such, it is important for companies to be flexible and evolve in their approach to systems management. here we take a look at a few reasons why small businesses should invest in an ERP solution.

Small businesses often overlook ERP systems and think that the technology is only for large sized companies. However, these organizations can reap a number of benefits and advantages from using an ERP system. The following article outlines five distinct advantages that stand out above all others.

Increased Productivity & Efficiency

Maximizing productivity and enhancing efficiency is crucial for small and large businesses alike. With an Enterprise Resource Planning solution, you get the information you need to make smart, data-driven decisions.

The importance of having a right ERP solution for your business cannot be overstated. An effective ERP solution not just helps you streamline the flow of business operations but also makes important information available on demand thus avoiding unproductive effort by employees.

The hassle and manual intervention involved in accessing and utilizing the right information at the right time is saved when you have an effective ERP system deployed in your firm.

Reduce costs

Reducing the costs of your business is one of the most important goals you can have. It gives you more room for mistakes, more money to spend on marketing, branding, and recruiting, and more funds put away for rainy days! There are a lot of great ways to cut costs in your business, but one of the easiest and most effective is implementing an ERP solution.

Eliminating a large part of the administrative process is one of the common ways to reduce costs overall. With an ERP solution in place, employees are free to perform other, more profitable tasks.

Insight & Control

If you are not currently using an ERP system, chances are that your current business reporting tools do not help you to gain real insights into how your company operates and are only offering a very limited picture of the bigger picture. You may find yourself copying data from Word documents into spreadsheets and piecing them together with other sources of information in order to try and gain better visibility into important aspects of your business, such as sales, stock levels, costs and profitability.

Getting these insights into your business doesn’t just help you understand what is happening now, it also allows you to improve on future operations. With an ERP solution, you can make faster decisions, resolve problems in real-time, and improve overall operations. Knowing what is happening in every area of your business is the key to constant improvement.

Scalability and flexibility

Your small business is unique. You have different needs, resources, and goals than your competitors. That’s why it’s important to find an ERP system that supports the way you do business. A flexible ERP system gives you the flexibility to make changes as your company grows.

When your business grows, you can easily change the configuration with the help of the ERP package. And you can also add functionality to meet new requirements hence aiding businesses in their growth and expansion plans.

Better Customer Service

A major part of every small business’s goal is to acquire new customers and keep their existing customer base happy. However, most small businesses lack proper infrastructure in place to handle customer relationships efficiently and are thus losing potential revenue. Tracking customer communications when dealing with multiple orders, requests, invoices, problems, or anything else can be a tiresome process that leads to lost customers and eventually affects your business’s future earnings.

ERP solutions can help you see customer behaviour and understand when and why you lose clients. This insight helps you retain clients, get new customers, and create a culture of excellence and quality care.

Conclusion

An enterprise resource planning (ERP) solution is a business management software package that can offer numerous benefits to small businesses when implemented adequately.

While small businesses might find the initial investment costs of an ERP system daunting, the benefits to a small business on implementing an ERP solution easily outweigh the investment costs.

Rather than thinking about the cost limitations of an ERP solution, small businesses must carefully evaluate the potential returns on investment an ERP system can bring in the form of new clients, increased efficiency, scalability, and reduced costs.

Factoring in the costs of not investing in an ERP is also important. Without an ERP solution, small businesses will likely spend more on time spent maintaining their current systems, and that does not even consider lost revenue opportunities.

Download the Signum guide Tell-tale signs you have outgrown your accounting system to help you decide if it’s time for your business to invest in ERP 

Get Your Company More Efficient with ERP

In today’s business world, companies need to have the right tools to be as efficient as possible. ERP (enterprise resource planning) is the kind of software that helps businesses get and stay organized. In this short article we discuss how you can get your company more efficient with ERP.

The technology advancements that can help a company achieve optimized efficiency and effectiveness are actually very simple. If used correctly, many of them will not only help your business operate more efficiently, but also enable you to save money.

To stay competitive, it is imperative that a company take advantage of technology to save time and increase efficiency. A streamlined process allows for more employees to be productive at the same time, therefore increasing efficiency and profit.

Businesses need efficiency to survive, and one great way to bring the power of efficiency to your company is by using ERP (enterprise resource planning) software.

With a good ERP system, businesses can manage their operations and risks more efficiently, keeping a handle on costs and processes in the right way to grow their revenue, optimize resources and improve time management.

The more processes you can automate, the less work that needs to be done manually, and the more time employees have to focus on more important tasks.

Modern ERP solutions help leadership to improve workflow by tracking step-by-step progress of staff, track projects to ensure benchmarks are being met, and quickly monitor and identify critical issues so that they can be rectified before impact to projects can occur.

Enterprise resource planning (ERP) software is increasingly enabling businesses to leverage powerful reporting and analytical capabilities to gain a better understanding of their operations.

With advanced reporting options and business analysis capabilities, today’s ERP software solutions help business owners better understand how the business is performing, key market trends to be aware of, and customer preferences.

Business leaders need a reliable, flexible solution that goes beyond basic operations. An ERP solution can help them eliminate data silos and get a clear view of their financials, orders, inventory, customer information, and more.

The importance of ERP cannot be understated. It can dramatically improve efficiency, boost profits, and help you get the most out of your assets.

When you invest in ERP technology, you can increase efficiency, improve control over your business, and optimize your resources. And that means better decision-making.

Technology provides everything you need to  get your company efficient with ERP.

ERP can boost your business performance, simplify your processes, and reduce your costs. And that’s something you can’t afford to ignore.

When Quickbooks is not enough

QuickBooks is a widely used accounting software that helps with the most basic of accounting tasks. While QuickBooks may fulfil your accounting needs today, this doesn’t necessarily mean that your business can rely on it forever to provide the right accounting tools and functions.

Your business has evolved over time. It started with a few employees, a little bit of sales revenue, and some customer accounts. You’ve added some products here and there, reinvested some money into the company, and now you have close to 100 employees. In addition, you have thousands of products offered to thousands of customers. As you can see then, the environment is very different from when your company was smaller. However, your core software is still QuickBooks.

QuickBooks may do the job in an accounting or finance department, but it is not enterprise resource planning (ERP) software. ERP is a business management solution that encompasses multiple functional areas of a company and its data, such as accounting and finance. Business processes are related between these related systems, which means they can be streamlined and easily analysed–if a company’s processes have outgrown QuickBooks.

The four main ways in which QuickBooks is lacking is inventory management, integrations, reporting and business growth.

Inventory

QuickBooks is not well suited for inventory management. The more complex your business becomes, the more important this issue becomes. While handling the day-to-day tasks of running a small business, it’s easy to lose track of what’s happening in the background and that’s where QuickBooks falls down. As a growing business, you’ll need to record different kinds of information on multiple systems and then reconcile the results between them after your financials have been closed. You’ll need to adjust your inventory numbers as orders come in, or when products are returned.

Integrations

Issues associated with QuickBooks integration are not new. In fact, nearly every corner of the market has been impacted by this challenge. Several companies and industry associations have spent considerable time and effort trying to improve QuickBooks’ limitations. Yet, when you talk about data interchange between applications, the conversation often comes back to an assessment of how well QuickBooks integrates with other systems.

Because QuickBooks lacks functionality in integration, employees must navigate across several applications to verify data, which reduces their productivity. Also, data is scattered across applications, which leads to retrieval issues.

Without integration, your QuickBooks data is spread across multiple applications. There’s no place to get the whole story, and everyone in your company must piece together small parts instead.

Everyone works best with the right tools, but when one set of tools is scattered across several applications and no central location for data analysis, your business suffers.

Reporting

If you’re using QuickBooks to report on your business performance, you’re probably missing key information. Reporting in QuickBooks is limited, and the format doesn’t allow for reporting capabilities like dashboards or complex data segmentation.

While QuickBooks provides basic reporting that works well enough for many businesses, it’s not adequate for advanced accounts. As data grows more complex and customers require more granular reporting for regulatory compliance, you may be forced to hire a costly consultant to provide third-party reports or export large amounts of data to an outside vendor.

Because QuickBooks lacks full functionality, you must sacrifice time and resources re-entering invoices, collecting data for reports manually, and updating stock turnover and other data. This makes it difficult to access and manipulate crucial business data.

QuickBooks can often lack reporting capabilities that meet your unique needs and help you communicate better with customers.

Business growth

If you find your company growing, QuickBooks becomes extremely limited. And this is definitely not a good thing. The system performance slows to a crawl. You can’t enter critical data on time, so reporting quickly becomes an afterthought.

If you use QuickBooks, a message box might pop up saying that “QuickBooks is busy processing transactions.” This means it has froze while your business was trying to run a report or enter transactions in the middle of a day-to-day operation. Bad performance is not merely annoying — it can stunt your company’s growth. A study by Aberdeen Group showed that 40% of businesses migrate to new software because of slowness, crashes, and other system-related problems.

QuickBooks is only as powerful as the industries it applies to. In some cases, a system is needed that not only handles the traditional business functions of accounting, but also offers specialized features to satisfy needs unique to an industry.

There are certain industries that require a customized system for managing clients, sales, and financials, such as manufacturing, distribution, life sciences, and food and beverage. Because QuickBooks cannot accommodate these industries, the software is not scalable for a growing business.

Summary

At one point or another, most businesses will reach the limit with the software. While its capabilities allow for an enormous amount of flexibility to start up a business, there comes a time when the one-size-fits-all approach isn’t a good fit anymore.

QuickBooks may do the job in an accounting or finance department, but it is not enterprise resource planning (ERP) software. ERP is a business management solution that encompasses multiple functional areas of a company and its data, such as accounting and finance. Business processes are related between these related systems, which means they can be streamlined and easily analysed–if a company’s processes have outgrown QuickBooks.

Download the Signum guide ‘Tell-tale signs you have outgrown your accounting system’ to help you decide if it’s time to move on from QuickBooks

Are You Alerted to Food Recalls?

Food recalls are devastating. They can tarnish the reputation of your organization, expose your company financially, and even put lives at risk. The food safety industry is constantly evolving to keep up with the latest technologies that are impacting the way we grow, harvest, process, transport, and distribute food products.

It’s safe to say that many Food and beverage brands have learned the hard way: It’s easier to prevent contamination than to recall and repair contaminated products. Although recalls affect a relatively small minority of food and beverage businesses, they are more costly to business operations than you might think.

Unfortunately, Food recalls are often the cost of doing business. They hurt your brand, your customer’s health and can damage your bottom line if customers stop trusting your brand altogether. For these reasons, food recalls must always be on the top of your mind because you must always be able to: Share, Track, Automate and Respond (STAR)

S – Share information with vendors in your supply chain

T – Track your products

A – Automate and collaborate

R – Respond quickly to changes in regulatory compliance

Traceability has never been more important in the food and beverage industries. Over the past decade, high-profile recalls and foodborne outbreaks have educated consumers about the importance of knowing where our food is coming from.

So, when it comes to food, your customers expect nothing but the highest quality. Recalls are an unfortunate reality that businesses must be prepared to handle. Whether or not your company has had any recalls, ensuring you’re ready if this scenario occurs is a priority.

A product recall can have a devastating impact on a company. No one wants to have to remove a product from the shelves. By implementing stricter standards during production and utilizing ERP software, food producers and suppliers can ensure that they are producing and supplying the highest quality products for their customers.

Good companies need to be ready for anything. That’s why forward-thinking manufacturers can help prepare for and reduce recall risks by utilizing several important features in ERP software—including supplier management, inventory control, and reporting. Using the tools at their disposal, a company can mitigate liabilities and protect their brand to turn a potential crisis into a future filled with opportunities.

By implementing systems that ensure the mandatory checks and balances are met, food and beverage companies can avoid costly product recalls and with the right ERP (Enterprise Resource Planning) solution in place, you’ll be able to spot contamination and handle recalls much quicker.

Most industries have specific software, and the food manufacturing industry is no different. As one of Europe’s most trusted enterprise resource planning (ERP) solutions, SAP Business One provides all the software you need to run your business, including functionalities like stock management, production management, purchasing, and accounting that are particularly useful for food manufacturing businesses.

With SAP Business One Industry Edition for food and beverage, you give yourself the tools you need to see and track products all the way from the farm, through manufacturing, and on to delivery. You will be able to respond quickly if a foodborne illness or laps in government inspections occurs, and remain confident in your ability to provide safe, quality products to your customers.

To better understand the benefits of implementing an ERP solution in your food business, contact us today!

ERP: 11 stats, facts, and data you need to know

In this blog, we will explore some of the key facts, stats and data you need to know about ERP.

The truth is that business in the 21st century is heavily supported by technology. It must be, to keep up with the competition and to better serve the customer. One of the pillars of any successful business is ERP software. The use of this delivers three main things: efficiency, oversight and control – all of which make it easier for management and employees to perform their tasks without hindering overall production or spending time on monotonous yet important tasks like double-entry bookkeeping. What is more, ERP solutions can provide a much-needed boost to your bottom line.

Here the top 11 ERP Facts, stats and data you should know;

  1. Reduce product loss by increasing the visibility of your inventory with ERP. You know how fast your products are moving through your entire operations. As such, you can make the necessary adjustments to improve efficiency.

 

  1. The global enterprise resource planning (ERP) software market is expected to reach $95.37 billion in 2021 up by an estimated 1%. Analysts suggest the growing adoption of ERP software by SMEs could be a major growth driver of this market.

 

  1. Over 40% of ERP software is used in the manufacturing sector, making it the largest consumer of ERP and that number is growing.

 

  1. 40% of market leaders are looking for new technologies in an ERP system.

 

  1. 95% of SMEs that implement ERP will improve some or all of their business processes over time.

 

  1. Most solutions are designed to allow users to generate insights without having specific data analytics or IT skills.

 

  1. ERP software reduces operational costs on average by 23% and administration costs by 22%.

 

  1. SAP reports that 92% of Ford Global 2,000 companies, along with 98% of the 100 most valued brands, use SAP solutions.

 

  1. Companies can see what orders are being created at any moment. They can use that to anticipate what their customers want.

 

  1. 88% of organizations that implemented ERP systems consider them important to their success.

 

  1. 14% of enterprises are planning to shift from an older ERP system to a new advanced system.

 

Signum Solutions specialises in SAP Business One, an all-in-one ERP package for the SME market. With over 10 years’ experience and specialist packages for Food & Beverage, Manufacturing, Wholesale and Chemicals, we have got your business covered.

Want to learn more about how SAP Business One can revolutionise your business? Download our free SAP Business One Infopack today.

 

ERP facts: Sources

https://www.appsruntheworld.com/?s=erp

https://cdn2.hubspot.net/hubfs/4439340/Panorama-Consulting-Group-The-2020-ERP-Report.pdf

https://www.aberdeen.com/solution/research/enterprise-resource-planning/

https://www.sap.com/

https://www.selecthub.com/enterprise-resource-planning/erp-case-study/