Make Smarter, More Strategic Decisions to Boost Your Small Business
Have you ever made an important business decision without seeing reports? You’re definitely not alone. Sometimes, decisions need to be made quickly, and you may not have time to create the reports you need.
Now that your business is larger, your decisions have higher stakes. You can’t keep making decisions based on hunches or best guesses. You also don’t have time to manually create reports. So, what’s the solution?
The secret is to start using an ERP system. Here’s how an ERP system will help you get the data you need to make informed decisions.
It Automatically Collects Data
When your business relies on manually created reports, you need to take time to find all the applicable data. When data is spread among spreadsheets, filing cabinets, and multiple computer programs, that’s a big task on its own. Worse, you need to repeat this process for every new report you want to create. Now that your business is larger and more complicated, gathering data just takes too much time.
An ERP system eliminates the need for you to hunt down data on your own. The system automatically collects data about all aspects of your business. Since the data is continuously collected, it will always be up to date. You’ll have real-time data right at your fingertips.
It Instantly Creates Reports
Creating reports manually can be a time-consuming process. After you’ve tracked down all the data you need, you must then input it in yet another spreadsheet and create the report.
By the time you’re done, the report may already be outdated! As a busy business owner, you can’t afford to waste your time creating reports that don’t provide a current snapshot of your business.
With your ERP system, you can instantly create reports. Since data is continuously being gathered, the system is always ready to provide the reports you need. You just need to configure the reports to provide the data you want. Then with the push of a button, you can view your reports.
If you’re currently manually creating reports, or paying someone to do it, this can save you many hours of administrative work.
It Gives You Real-Time Data
In a business, data gets outdated almost immediately. If you’re collecting data manually, you’ll never be able to keep up with all the changes happening in your business. As soon as a customer places a new order, an order leaves your warehouse, or an invoice is paid, the data you’ve collected will be outdated.
You can’t make informed decisions based on outdated business data. But, you also can’t spend all day gathering data. Paying an assistant to constantly track your data doesn’t make sense, either. What every small business owner should know about small business automation is that it’s easy to start automating these tasks. Your new ERP system will keep track of every new transaction as it happens, and you and your employees can focus on more important tasks.
It Lets You Make Strategic Business Decisions
Small business owners need to make evidence-based decisions to be effective leaders. That’s difficult to do when you need to rely on manually created reports. Automated analytics gathering makes it much easier for you to make good decisions. Since the data and reports are always available, you’ll have time to check the data before you make a decision.
Of course, having access to good data doesn’t guarantee you’ll make good decisions. For example, business owners can make poor decisions if they use their data to support decisions they’ve already made. It’s best to look at the data first, and then make decisions after you’ve had time to analyze it.