Perimeter Business Solutions

Growth During Economic Downturn? It’s Possible with ERP Software!

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Although many companies are struggling with the downturned market, there are thriving companies as well.  The difference?  An effective enterprise resource planning (ERP) solution for operations, accounting, and business analysis.  Here are a few ways that an ERP software solution can get you heading in the right direction.

  1. Work smarter, not harder:  ERP is designed to bring together all of the elements of your business into a single software solution.  Instead of using disparate software and spreadsheets to gather data, all of your important data is organized in a single software solution.  Manage finances, supply chain, manufacturing, project and services management, human resources and payroll, and much more in a comprehensive  ERP software solution.  Not only will you save time from finding and verifying data accuracy, your data will all work seamlessly together to present an accurate representation of your business operations.  Using ERP software will also make it easier and quicker for employees to enter, retrieve, and share data, which will lead to greater productivity throughout your business.
  2. 2.      Make your money work for you:  A 360 degree view of your business will highlight correlations between business operations, cash flow, and profitability.  Get invoices out faster so you get paid faster.  Use notifications in your ERP to keep up with outstanding invoices, so fewer go into collections.  Electronic banking features can also make it easier to pay your vendors and suppliers faster, saving money in late fees and other late payment penalties.  Streamlining accounts receivable and accounts payable can improve cash flow, making your money work harder for you.
  3. 3.      Optimize what you’re doing best and fix the rest:  Some ERP software, such as Microsoft Dynamics® GP, offers powerful business intelligence and reporting features.  Learn what your best products or services are, as well as your best customers, so you can optimize those product lines, streamline marketing efforts, and improve sales.  Learning your less profitable products or services can also help you determine what you might need to do to turn those situations around.

Businesses of all sizes look to ERP to streamline operations, improve productivity, and boost profitability.  Tough economic times can put the brakes on business growth, but it doesn’t have to.  If you haven’t worked with an ERP software solution or aren’t using the one you have, then contact Perimeter Business Solutions to see how you can keep your business growing even in a downturned market.

By Mark D. Kosakowski of Perimeter Business Solutions, Georgia Microsoft Dynamics GP Partner

 

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