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As the owner of your business or manager of a department, you are faced with decisions every day. Decisions that can change the course of the business. If you are like most businesses, your decisions are based on the monthly financial statements. Reports created through a manual process where your accountant combines data from multiple financial and operational systems.
If you are lucky you receive the reports about a week after the last day of the month.
Month old information
Think about how much can happen in a month in today’s terms. Your customers – whether they are businesses or consumers – are making buying decisions based on a daily diet of information overload. How can you stay ahead of your customers if you are working on information that is a month old?
You need real time information to remain competitive and responsive to your customers. Information from across the company, delivered in a way that you can easily understand to make smart decisions quickly.
Consolidation is key
Collecting all of your business data in a single software solution, like an integrated ERP system, is the most efficient way to deliver real time information for your business. Combining financials, manufacturing, supply chain, project and services management, human resources and payroll allows you to monitor all the important metrics in one place.
With combined information, you can offer role tailored dashboards to give your managers the information that they need without data that could distract them. Employees can find the information that they need to serve customers quickly without searching in three different systems. Your decisions will be based what’s happening now, not last month.
Let’s talk about how you can consolidate the information in your organization to respond at the speed of business.
Published on 22nd March 2013 by Jeanne DeWitt.