Has your business grown too complex for your software?
An accounting solution to track debtors and creditors, generate invoices, create BAS summaries, and run reports is often one of the first types of software businesses use. It’s a logical step towards managing business finances.
But as businesses grow bigger and more complex, business owners need more from their accounting solution. For example, their sales team should be able to access the information they need, like customer details, stock availability and pricing, at a single touch.
With a single business management solution, all of your data is housed in one database and different teams or individuals can be assigned different levels of access.
Top 5 benefits of a single business management solution
1. Avoid multiple data entry
The biggest up-side to having information stored in a single database is that it only needs to be entered into one database.
Planning and forecasting becomes a much simpler process and you’ll have much faster answers to questions like ‘Where is the business at? Where are the gaps and overlaps? And what projects need extra attention?’.
2. Minimise data entry errors
Entering data across multiple systems can often lead to inaccuracies. Imagine a customer’s order being shipped to the wrong address because the shipping system hasn’t been updated to sync with the order entry system?
A single integrated business management solution ensures the availability of consistent data across the organisation and prevents mismatched information.
3. One source of customer information
Having customer information stored in one place enables every staff member to access the information – and act on it quickly. Data is accurate across the organisation and employees have access to real-time data – so there’s no time consuming double checking, consolidation or comparing of data required.
If a client calls to ask where an order is, the staff member can find the order quickly, see when and how it was shipped and provide a tracking number.
The speed with which you’re able to resolve customer enquiries leads to improved customer satisfaction.
4. Easy to run reports
When systems run separately, processes that are meant to ensure a company runs smoothly can become complex and time-consuming. Pulling reports from multiple systems to collate them into one report also increases the possibility of errors because it’s done manually.
With a single source of information containing accurate, real-time data, a business management solution breaks up bottlenecks, helps staff make better decisions more quickly, and frees up their time to work on more high-value exercises like helping the business grow faster.
5. Streamline costs
Maintenance is a key driver of the success of your business management system. It’s also a key component of the overall cost involved. One of the most common challenges posed by the management of multiple systems is the fact that companies are required to pay for the services of multiple system providers.
A single business management solution means that one company is responsible for its support.
Want to find out more?
MYOB helps businesses think bigger with a range of enterprise solutions for bigger businesses. These include ERP software, smart payroll and HR management systems.
MYOB EXO software has helped thousands of companies take their business to a whole new level, because the sky’s the limit when you think bigger.
To start thinking bigger, visit the MYOB bigger business page.