Many retailers are breathing a sigh of relief as the holiday shopping season is finally over. This relief may extend through the rest of the distribution chain, eventually down to product manufacturers. It’s an ideal time to start tallying the numbers for sales, revenue, profit and product success. As you gather your data, you may identify ways to better prepare for the next holiday shopping season and the rest of this year. The key is having current, reliable information which can’t easily be found in disparate systems.
Your sales and customer service teams might feel good about the success of the holiday shopping season, and a glance at initial sales reports could support that good feeling. However, there is a big difference between a good feeling and good data. Businesses using disparate software systems often struggle to get current, reliable information. When each department uses specialty software, accessing data becomes a challenge. Reports need to be downloaded and emailed to business leaders, then data needs validation before transcribing it into reports for analysis. It’s a time-consuming process which could leave business leaders with outdated, erroneous information. Good feeling or not, knowing if the holiday season was truly successful can be more of a challenge than necessary.
Manage Financial Activities, Profit Margins in Microsoft Dynamics GP
Enterprise resource planning (ERP) solutions, like Microsoft Dynamics GP, are comprehensive and integrated, providing businesses with a much more reliable and efficient way to manage key data. With ERP, you can manage accounting and financial operations, gain control over inventory and supplier relationships, and improve insight into production and distribution activities. Microsoft Dynamics GP is flexible and customizable, so you have the functionality you need as your business grows and changes.
Using an integrated ERP solution also offers an added advantage over disparate software. Dashboards, strong reporting, and other business intelligence features make it easier to find and analyze key metrics. You can monitor inventory, for example, to identify which products were the hot sellers for the holiday and which might soon become obsolete. Or, look closer into financial activities and determine whether profit margins were and are on target.
Back up your good feeling with good data and be confident that the holiday shopping season was as successful as expected. Contact The Resource Group for guidance with replacing inefficient, disparate software with an integrated ERP solution.
By The Resource Group, a Microsoft Dynamics GP Partner out of Washington