We work with small businesses to medium sized enterprises specialising in wholesale inventory software and retail business management software. Why do our clients choose small business ERP software? In our experience, we’ve found some key reasons why our clients are seeking a small business ERP software solution. Often we hear that business owners are spending too much time working “in their business” instead of “on their business”. Issues like stock visibility and sales forecasting are common so if you’re experiencing issues like this you are certainly not alone!
Here are 5 reasons why ERP software in Australia is in demand from SMEs:
- You have different software for different processes and areas of your business
Unlike an all-in one business management software solution, when you have disparate systems in place, none of the systems talk to each other. For example your accounting team use one system for receivables and payables, and sales staff a separate system for customer orders. The process of taking orders, fulfilling them and inputting them into the accounting system is manual and takes up a lot of time that could be better spent.
When various front and back-end systems run separately, the result is often processes that “interrupt” the smooth running of your business. All-in one business management software or ERP software in Australia integrates systems so that your business operates from a single database.
- Accounting is time consuming
If your accounts team use paper-based invoices and sales orders and spend hours every week manually entering them into different accounting and sales systems it goes without saying that a lot of valuable time is being wasted. The right small business ERP software will handle all of this in an instant.
The same is true for financial reporting. Do you dread 30 June? Does it take forever to consolidate or reconcile financial information across systems and do you rely on countless spreadsheets? With the right small business ERP software your accounts team won’t have to spend hours manually reconciling data because your business operates from a single database.
- You don’t have easy access to information about your business
The best business decisions are well-informed ones. Do you currently know what your best sales margin is or can you find out very quickly? And other key business metrics like year to date sales or your best-selling product, are they readily available? To make the best business decisions that will enable sustainable growth you need these insights.
- Customer satisfaction is down
When a business is bogged down by inefficient processes, invariably it is your customers that suffer. Effective inventory management is a basic requirement to ensure that the right stock is where it needs to be when your customers want to purchase it. You absolutely don’t want stock shortages on your best sellers.
Order tracking is also a “must” when it comes to customer service. If a customer calls to find out where their order is you need to have the answer that they want to hear. Poor customer satisfaction will result in decreased loyalties and likely sooner rather than later your customers will choose a competitor over your business.
- Your small business stock control is poor
As mentioned above, effective small business stock control is vital for a successful business. The right small business ERP software will enable your business to track best-selling products against those are not performing so well. For example, those that aren’t performing well may need to be discounted in order to sell. Knowing your best performing products will then inform your buying strategy to increase the profitability of your business.
The right stock management software will also help you to review your pricing strategies by analysing your sales and profits and adjusting product pricing that isn’t generating maximum profit. Find out more about Foresiight’s all in one business management software.
