It’s the start of a new year and, for companies in any industry, it presents a chance to reevaluate strategic goals. Setting new goals can be great for business; however, managers need to be able to monitor key metrics in order to be able to keep those goals on the right track. Disparate software makes it difficult to access and rely on the data needed to keep moving forward. Stay focused and achieve strategic goals by replacing inefficient software with a stronger business management solution.
Businesses may choose to focus on cash flow this year, for example, and look for ways to reduce the time it takes to get invoices out as well as cut days outstanding. Your procurement team may want to get closer to buffer inventory levels without risking stock-outs. There are any number of goals that can be deployed to improve productivity and profitability; however, the ability to measure progress is essential for meeting these goals.
An integrated business management solution, such as Microsoft Dynamics GP, can provide the platform you need to set and achieve your business goals. You can manage all of your corporate operations from this single, centralized solution including financial transactions, inventory and supply chain management, manufacturing and distribution operations, and human resources and payroll activities. A single solution is easier for your employees to learn and use than multiple, disparate software programs. In addition, with all of your data in one spot, you can use dashboards, automatic notifications, and other visualizations to monitor key metrics.
When a proposal is sent to a customer and approved, that same data can be used for a purchase or sales order, and later used on an invoice. Instead of transcribing data repeatedly, the same data can be used for multiple documents, each of which is stored within the customer account. Similarly, changes in inventory can be updated in real-time so you can monitor inventory levels in real-time. The business intelligence features within Microsoft Dynamics GP offer a powerful way to identify trends in your data, which you can then use to streamline operations and boost profit margins.
When making strategic goals this year, be sure to have the right business management solution in place. Contact The Resource Group for more information about replacing outdated software systems with ERP to set and achieve your goals.
By The Resource Group, Washington Microsoft Dynamics GP Partner