Businesses using stand-alone software systems often struggle at the end of the year to collect and validate data, then prepare the reports needed for year-end. Looking through financial transactions, inventory and labor utilization, customer services and satisfaction, and other core business data is essential for establishing new goals and getting the new year started off strong. Replacing legacy and disparate systems with an enterprise resource planning (ERP) solution is an efficient way to close year-end efficiently and position your business for growth in the new year.
Year-end can be a chaotic time for businesses as the accounting team works to reconcile transactions and account for every cent of income and expenses. At the same time, departmental leaders are trying to understand inventory and labor utilization in order to determine potential needs for the next year. Making sense of data that is buried in spreadsheets or stuck in disparate, specialty software is time consuming and risky. Data can be aged or otherwise inaccurate due to mistakes, missing data or redundant entries. Basing next year’s goals on unreliable data can result in a disappointing new year.
Position Business for Success with ERP
Set business up for success by replacing outdated software systems with an integrated ERP solution, such as Microsoft Dynamics GP. This innovative ERP solution offers powerful financial management and accounting features, inventory management, operations, sales and service, human resources management, and payroll services. A single, centralized solution is easier for your departmental leaders and employees to learn and use to track important business information. Your accounting team can manage income, expenses and assets and streamline bank processes. Procurement and warehouse departments can track inventory, forecast purchasing needs more efficiently, and streamline production operations. Real-time data is within reach and easily visualized in dashboards, reports and other business intelligence features. Leaders can track key metrics, identify trends and react faster to deviations in plans or take advantage of new opportunities.
Know where your business is going, by knowing where you’ve been. Modern ERP, including Microsoft Dynamics GP, offers time-saving automations and business intelligence features that will streamline year-end activities. In addition, armed with current, reliable data, you and your team can set up strategic goals for the next year. Contact The Resource Group for more information about using ERP to position your business for success.
By The Resource Group, a Microsoft Dynamics GP Partner out of Washington