Nowadays, companies in virtually all industries are using complex business software to pump up their growth, but a lot are still struggling to maintain their growth and manage finances effectively. This is because of a jumble of disorganized functional systems that cause process bottlenecks and employee productivity problems. Integrated business software suites are revolutionizing how companies operate, allowing them to overcome growing pains that previously were preventing them from upgrading their business to the next level of gainful growth.
To make your business grow at the striking rates you intended, it is essential to have your business software applications combined into a single codebase, database and business process. A very simple example is using a powerful Excel-based data manipulation tool if your business relies significantly on spreadsheets for record-keeping. The advantages of using your systems in this manner bring significant cost savings and greater business productivity, including:
Process Efficiency in the Organization
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There are many major processes that you may encounter in your day to day operations, like order management, invoicing, expense approvals, etc. Automating such processes allows you not to get new hires that would otherwise be needed to handle these processes, as well as redeploy staff to more important -value activities to help your business grow. 5%, and enhance inventory turns by half, among other crucial efficiencies. Processing time also decreased by 66% in the same study.
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Considerably Improved Visibility
Real-time visibility is crucial in making timely and sound decisions. When information could be accessed straight away from almost any location, without spending resources to extract data and tie data from diverse sources together, workers are more informed and can make quicker and more precise decisions. With all of their data accessible in real-time, for instance, a business can keep track of their suppliers’ workloads in real-time and eventually grow their business in the coming years while pocketing sizable annual savings.
Substantial IT Time and Cost Savings
Because IT will no longer need to procure, install, and maintain various systems as well as the needed integrations between them, a large operational cost reduction can be realized as IT time can be dedicated to the improvement of business operations.
Integrated software system paves the way for a faster expansion to varied locations and additional sales channels because of the combined order and accounting management data and processes. Businesses can also upsell and cross-sell to their present customer base with greater efficiency, thanks to the improved visibility they now have.
As process changes can be adopted quickly, daily business users will be able to employ their functional expertise to design performance-improving processes and applications. Meanwhile, IT is free to focus on tactical projects that can deliver value to the bottom line by developing inventive value-added solutions.