As much as 77% of enterprises use at least one cloud software but for separate functions such as payroll and e-leave. While leaner companies might get by on basic free-for-use accounting software or spreadsheets, these have limitations that could affect a company’s expansion plans. As companies grow, project management, purchasing cycles, keeping your accounts in check, and sorting billable hours can become increasingly complex.
Robust enterprise software can serve to streamline data and provide valuable analysis critical to a company’s growth. In our previous article, it talks about the benefits of adopting cloud over on-premise systems. But when exactly is the right time to invest in one?
Here are the top 3 tell-tale signs:
1. You require more robust financial reporting but struggle with increasingly complex data and how to integrate it into other functions of your business
Often associated with accounting software is the buzzword ‘ERP’. In the business landscape, ERP stands for Enterprise Resource Planning but the full name doesn’t shed much light on what it is or what it does.
At the most basic level, ERP software does more than just accounting. It integrates all the essential functions of a business such as inventory, order management, accounting, and human resources into one central feature.
By investing in an integrated ERP system, data migration can be further streamlined and information can be shared across departments. These cross-function features generate more comprehensive financial reports as they pull data and performance across all areas of your business.
2. You find that customers are frustrated by unmet demands and you worry you might be losing your competitive edge
Unhappy and unsatisfied customers that arise from companies’ inability to deliver, can be a disastrous nightmare. This causes many companies to lose customers and their competitive edge. When companies expand, so do customer demands.
Like Deskera’s robust ERP system, an integrated ERP solution enables real-time automation of sales orders and order management. This consolidates and organizes your stock-taking process and reduces time wasted on manual data entry and, by extension, human error. This ensures that you gain full visibility on inventory flows and that you will always be amply prepared to meet your customer needs. Often, these solutions also come with intuitive dashboards that help staff make better sense of the in-flows and out-flows of stocks and encourages shared responsibility among staff.
3. You spend too much time integrating various platforms, compromising on productivity and efficiency
Using a basic free-for-use software could also mean that you would require other add-on features and system upgrades to keep up with your business. The customization, integration, and maintenance of these separate features require specific IT expertise to execute, can be labor-intensive, and leaves your software vulnerable to frequent crashes. Consequently, upscaling your in-house IT team and dealing with crash-fixing require additional time and monies.
With an all-in-one integrated platform like Deskera’s, implementation is one-off and system updates are seamless. What’s more, the implementation team is always on standby to help with any queries, enabling your team to start using Deskera’s ERP system effectively.