Collins Computing, Inc.

Blog Series: Let’s Get The Facts Straight: #1 Get To Know Your True Profit Margins

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When running a business, it’s important to have swift access to accurate data.  In this blog series, we’ll discuss how you can get your facts straight by trading in disparate, specialty software solutions for an integrated, more powerful business management solution.

As you scan various financial reports, you may get the feeling that your business is doing well.  You may be able to determine that sales are up and expenses are satisfactory.  However, how confident are you in the numbers you have in hand?  Disparate, specialty solutions may not provide as accurate or reliable data as you may want.

Throughout the month you may receive several reports from your various departments.  You may see a budget comparison of actual versus proposed monthly income and expenses, inventory summary reports, customer sales figures, labor productivity evaluations, and other important business reports.  While the data may seem appropriate for the circumstances, it can be outdated by the time you get it.  In addition, since it’s usually specific to that segment of your organization, it can be out of context or an inaccurate representation of your business as a whole.  As a result, your assessment of profitability may not be as precise as you may expect, which can lead to problems with decision-making.  Make sure you have the facts straight by implementing a more reliable business management solution.

An enterprise resource planning (ERP) solution, such as Microsoft Dynamics® GP, can provide a more accurate representation of your business, especially your profits.  This solution is integrated, meaning all of your business data, for each department, can be easily entered within this single software solution.  Your team can enter financial, inventory, manufacturing and distribution, payroll and human resources, and other core business data into Microsoft Dynamics GP.  Microsoft Dynamics GP offers built-in business intelligence and robust reporting features.  You can access data about any facet of your business in real-time without having to piece together data from different departments.  You can use real-time data to prepare more accurate budget comparisons, inventory reports, and profit/loss statements.  In addition, with all of your data working together, you can also begin to identify trends.  Using a dashboard, you may identify regions, customers, product lines, or times of the year when sales are at their highest.  You can also get deeper into profit margins by customer, product, or product line.

Real-time, accurate data from an ERP solution can reveal more insight about your business operations than you can get from disparate software.  Contact Collins Computing for more information about ERP and be confident that you have your facts straight about your profits and your business.

By Collins Computing, a Microsoft Dynamics GP Gold Certified Partner out of California

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