How an ERP solution can support growth: Improving efficiencies to increase profits
All wholesale and distribution business owners, no matter their industry, face common challenges and issues in the daily running of their business. From managing employees, accounts, inventory and customers, business owners try to implement processes and procedures to improve how they operate. But ultimately, from our experience, a business owner’s biggest pain point is finding the time to grow the business. Whether your goal is to grow your customers and sales orders, expand your product portfolio, acquire new businesses or increase profits or market share an ERP solution can be the foundation to support you in your future goals.
Our Software Team have spent over 30 years in the wholesale and distribution industry, talking to business owners and we’ve learnt what it takes to grow a business. From attracting new customers to adding value to existing customer accounts, we’d like to share the knowledge and experience of our Business Consultants and Account Managers to help you take your business to the next level.
Is it the right time for an integrated ERP solution?
As SME’s grow and expand their customer base and product portfolio, they begin to outgrow their disparate systems that helped them start out. Accounting packages like QuickBooks or Xero and standalone CRM systems like HubSpot start to lag as more is demanded from them. As businesses develop, they need sophisticated, integrated systems to connect all areas of the business to work more efficiently and support the future of the business.
ERP systems are no longer solely aimed at large enterprises as it may seem. Small and medium sized businesses are demanding more from their business software solutions to future-proof their business and drive them forward. Cloud technologies, browser-based programmes and subscription models are all making ERP systems more accessible and viable for the mid-market which means smaller businesses can reap the many benefits of a fully integrated business management system, propelling them to the next level.
The time and financial investment implementing an ERP system is a big deal. The time it takes to move processes, migrate data and train employees takes months, so it’s not a process to take lightly, and as ERP consultants, we know it can seem very daunting. But without the initial time and money investment it’s impossible for a business to really achieve its full potential.
So, is your business ready for an integrated ERP system? There are a few simple questions to ask yourself in order to understand if your businesses potential is hindered…
Are you looking to hire more people to take on the increasing workload of day-to-day tasks?
If you’re drowning in admin tasks and are looking to hire more people to take on the admin workload, then consider the financial and time investment in that person and whether a software system could enable your existing staff to do the same job more efficiently.
Do you have full visibility of your prospects and customer sales journey?
Would you know if you’re missing sales opportunities and can you easily break new accounts and reach targets?
Is your customer service giving you the reputation you deserve?
Do you find it hard to meet customer demands and can you deliver a personalised service that makes customers return and choose you as their preferred supplier?
ERP Software is vital for growth
Spreadsheets and disparate systems can only get a business so far. In order to grow, and stay competitive in the digital market, investing in an ERP system to manage your business processes is a necessity. Increasing the number of customers, products, sales channels and data can’t be successfully managed in disparate, manual systems. It’s only a matter of time before something big is missed or an error is made that has a severe impact on your business.
ERP software gives you the tools you need to manage your sales process to increase your sales from both new prospects and your existing customers, but ultimately the biggest benefit is efficiency. In the competitive world of wholesale and distribution, a company’s profits are impacted just as much by ineffective internal processes and they are by sales. Increasing your sales won’t have the impact you need on your bottom-line if you’re wasting resource on manual and inefficient management processes.
ERP software removes the manual processes, the duplication of work and the inaccurate data errors and connects and streamlines communication and processes across all departments throughout the business. And because all your business data flows through one central system, it becomes increasingly easier to scale. Even with the initial cost of implementation, the cost and invaluable time savings an ERP system will give your business is significant. When choosing the right software solution and partner, ROI is often achieved within the first year or two of adoption.
The resources saved in automating processes can then be reinvested into driving the business forward. The focus of your management team can switch from the daily business operations to marketing and business development to grow your customers, improve relationship with clients and focusing on staying competitive. An ERP system makes it easier for your business to achieve its future goals ensuring your business is continually driving forward.
Look out for our next blog in the series: How an ERP system can support growth, with our top tips on attracting new prospects, increasing sales opportunities and growing your customer base.
How an ERP solution can support growth: Increasing sales opportunities - see our top tips on attracting new prospects, increasing sales opportunities and growing your customer base.