How to manage profitability in real-time with ERP

ERP software is a proven way of helping businesses to manage and increase profitability levels in real-time.

A fully integrated ERP solution stores company-wide data from a single, centralised database. With this single source of truth, an ERP system helps companies to manage accounts and calculate profit and loss levels as data is added to the solution. This empowers key stakeholders with real-time information on a company’s P/L status.

Control of data

Rather than having to wait for reports to be generated from poorly managed spreadsheets or by collating data from disparate solutions, working in real-time can improve profitability in several ways.

Distribution companies can provide better services to customers by tracking goods in real-time. Manufacturing companies can check the status of production orders to provide accurate delivery dates of goods.

ERP is also a proven way of improving levels of internal productivity and reducing inefficiencies. What could your company do by increasing company-wide productivity without increasing overheads?

Integrated automation

Rather than having to work from multiple or disparate solutions, an ERP solution brings everything together. This integration is critical to improving cost-effectiveness by working smarter and avoiding duplicating efforts.

SAP Business One is a popular ERP solution with a series of modules that includes functionality that seamlessly integrates with each other. For example, the CRM functionality integrates with key accounting and financial management tools allowing users to only edit business partner master data once.

Key processes can also be automated by various triggers within an ERP solution. When these are configured, these help companies to streamline processes and run smarter without creating bottlenecks.

Real-time insight

Real-time, accurate insight is also a key driver to improving a company’s profitability. Having good information is essential to making smarter, more profitable decisions.

An ERP solution will include Business Intelligence, such as dashboards and analytics, that paint an accurate picture of profitability and performance across a growing business.

Organisations that still rely on spreadsheets or data inputted from third-party solutions are the ones most likely to make rash decisions that often lead to costly human errors.

Faster decision-making

One of the main advantages of working in real-time is that decision-making is faster. Finance managers don’t have to wait for reporting periods to end to understand cash flow or P/L levels. The information that key stakeholders often request is easily obtainable.

Making smarter, more strategic decisions in real-time saves time and money. Saving time, saves money by helping organisations to focus on more profitable opportunities or activities.

ERP helps companies to work faster by reducing inefficiencies and to become more effective. It’s a winning combination used by profitable businesses across the globe.

Control your profitability

Working in real-time is key if you want your company to be more competitive and to increase long-term profits. Arrange a demo of SAP Business One today to see how you can save time and money with this fully integrated system.