Do you wish your small business could be more efficient? Inefficiency holds your business back. Your business’s inefficient processes slow you down and increase your stress, but they have financial consequences, too. Many organizations lose as much as 30 percent of their yearly revenue to inefficiencies.
Business owners need to find ways to make their companies run more efficiently to stay profitable. One of the benefits of using cloud based computing services, like ERP solutions, is increased efficiency. Here’s a guide to cloud based ERP solutions and how they can reduce inefficiencies at your business.
Manage Business Operations in One Place
Do you spend too much time searching for information about your business? When businesses get larger and there’s more information to keep track of, storing data in many places takes too much time. You need to waste time switching between multiple programs on your computer to see the full picture of your business. You need to dig through filing cabinets, desk drawers, and scattered stacks of paper to find the invoice you’re looking for.
With a cloud based ERP solution, you can store all of your business operations in one place. You can track information about your customers, orders, products, pricing, and other operations from the same convenient location. You can see all the information you need to run your business without even getting out of your office chair.
Automatically Gather Useful Data
Business owners need a lot of data to make smart business decisions. When you manually gather information from all the different places you’re managing operations, creating reports can take a lot of time. You might not have time to create all the reports you need, and you might have to make decisions without access to good information. Making decisions without up-to-date information can cost your business money.
What if you could automatically gather all the data you need? That’s what a cloud based ERP solution can do for you. The solution will automatically gather data about everything from your customers to your products to your inventory. You can spend more time making good decisions and less time putting together reports.
Use the Solution as Your Business Grows
If you’ve been in business for a while, you’ve probably switched software programs a couple of times already. Switching to a new program is always a hassle. You need to transfer your data to the new program, and then you need to learn how to use it. While your employees are getting used to the new program, they won’t work as efficiently as usual. To become more efficient, look for solutions you can use for many years.
Cloud based ERP systems are enterprise-grade. That means they’ll grow with your business, no matter how large your company becomes. The cloud system you start using when your business only has a few dozen employees will still meet your needs when you have a few hundred, or even a few thousand.
Keep Your Business’s Data Safe
Over six percent of computers will suffer data loss every single year. Accidentally overwriting an important spreadsheet, getting a computer virus, or experiencing a hard-drive failure can all result in data loss. Your paper systems are also vulnerable to data loss. For example, you could accidentally shred important invoices or documents. Papers could get thrown out or get lost. The end result is the same: data loss. It takes time to re-create the missing data, and that’s inefficient.
A cloud based ERP system stores your business’s data on the vendor’s servers. The data is safe and secure on the servers. If you get a computer virus, or if your hard drive fails, you can easily access all your data from a different computer. Since all the data is safely stored in the cloud, you won’t need to worry about keeping track of paper copies.