As businesses expand in terms of scale of operations & presence, it becomes critical to have a solution that helps them to keep pace with their growing needs. The platform a company chooses should offer better control, be flexible and adapt to the needs as the business scales up. Another important aspect is, it should quickly adjust to the changes in the economic scenario.
Technology plays a pivotal role, it helps in streamlining the processes and facilitates better coordination between different departments. There are many traditional accounting softwares that can help in managing the basic features of data input/output, but when it comes to reconciliation, manual efforts have to be invested in to ensure the accounts across branches match. As the volume of data managed increases along with the number of users, these systems slow down and often are not able to perform with efficiency. Thus defeating the very rationale, of having a software to simplify the work and create efficiencies amongst individuals.
SME’s are realizing these challenges, as they are growing in terms of size and scale of operations. This has resulted in SME’s embracing the path of change, for newer solutions that can simplify their processes and are easy to implement. New needs have given way, to the rise of ERP solution providers.
It’s time to look beyond the traditional accounting systems if they are not able to manage the following:
- Concurrent user policy: The traditional software doesn’t support multi user policy, only one person at a time can update data in the system.
- Dynamic changes: Ability of the software, to quickly adapt to the dynamic economic changes.
- Large data volumes: As the businesses grows the data volumes also grow, the traditional partner is not able to handle the growing data needs. Thus, leaving the user in a fix.
- Multi-branch operations: With multiple branches, it becomes difficult to use these softwares. Remote user experience can be painful. The data sync is not real-time thus causing delay in important decisions. As data requires a manual sync/reconciliation.
- Scalability: In this data driven world, as your business expands, you need to scale up – quickly and efficiently. Traditional softwares often don’t come with scalable features that help users change and grow at their pace.
- Mobility: With the advancement in technology, the data should become accessible anytime and from anywhere. This will enable real-time business decisions. But the traditional accounting software is not able to keep pace with the technology, as it doesn’t have the mobile application feature.
Now, there is a requirement for a solution which goes beyond traditional accounting. This solution should be equipped with more advanced features, is more scalable, handles more data volumes with ease and simplifies business processes. Solutions are plenty, but selecting one carefully is critical. Implementation of an ERP helps to address the above mentioned issues.
- Choose an ERP solution based on a future ready platform that can easily accommodate any technological advancements.
- Ensure easy migration of existing customers from an old platform to a new one, seamlessly without any risks of data loss.
- It should empower you to grow your business and improve efficiencies in your operations profitably.
- Better business decisions with access to real time data. Business on the go solutions.
The right ERP solution, will give you more time to focus on growing your business without worrying about the dynamic regulatory situation. Today, it is GST, tomorrow it will be some other regulation. You need a vendor that can future-proof your business.
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