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Avoiding Errors: A Small and Mid-Sized Business Guide to Profitability

Avoiding mistakes in small business.
26 Aug

Avoiding Errors: A Small and Mid-Sized Business Guide to Profitability

by SMB Suite
in Managed IT, SMB Blog
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Find out how the correct software can prevent costly business mistakes.

 

Slim margins in many industries mean the smallest errors can cost companies greatly.

 

There are few things as disheartening as that regretfully called meeting to “stop the bleeding.” A great employee might have made a mistake or went on vacation, and something catastrophic has taken place at the office. Someone will be reprimanded, possibly fired, and the near future is going to be a struggle to right the ship.

 

These sorts of mistakes strike small and mid-sized businesses hardest. Unfortunately, one mistake at the wrong time could affect a company for several years. Let’s look at a few ways the appropriate software can eliminate chances for failure.

 

Accounting:

 

One of the most important tasks of every small business is also one of its most difficult. Accuracy is paramount, but software is expensive – sometimes restrictively so. 

 

One of the easiest ways to circumvent the pricey and constantly updating software is a cloud-based accounting solution. A cloud-based solution requires less hardware, fewer headaches and greater security for a small or mid-sized business’ financials. Best for smaller businesses, every new upgrade or update to the cloud-based software is included with its low price. A company in this scenario doesn’t have to worry about this year’s tax code changes or reporting standards.

 

Compare this to an older model that requires upfront purchasing of software and server space. Upgrades can be costly but are necessary to ensure compliance. As the company changes, it experiences severe growing pains, and becomes a financial burden itself. Instead of considering this a “necessary evil,” look into the financials packages at SMB Suite. Often, the overhead costs that a cloud-based package replaces pays for the service itself.

 

Distribution:

 

This necessary task has the most moving parts – and that can seem overwhelming. Many small businesses have an old warehouse or inventory program in place, but it sits unused. Many iterations of distribution software weren’t created for real-world application, so many have been abandoned. Need to ship something out? Many small and mid-sized businesses have someone go into the warehouse and physically find it before making any promises.

 

Today this has become a habit, an excuse. Having unusable inventory or warehouse software is a very real issue, but it shouldn’t be. Warehouse management software exists today that works in real-time. It takes out the guess work and eliminates physical monthly or quarterly stock inventory. The correct software can even flag mislabeled or incorrectly placed inventory. 

 

SMB Suite Distribution Software organizes inventory and optimizes the warehouse layout. It is customizable, but even more importantly – it is accurate. The correct software not only reduces man hours in the warehouse, it also reduces stress. It is useful for single locations, but can also integrate many warehouses to create a single, efficient distribution chain.

 

CRM:

 

Internally, software can create the most effective systems to reduce a small or mid-sized business’s bottom line. But the one thing every business needs is customers. No one forgets about their customer, right?

 

Far too often, mid-sized businesses — and, to a degree, small businesses — chase numbers to determine their measure of success. They sometimes forget about the customer behind the number – and that can be the gravest mistake mentioned yet. There is no greater commodity that a growing business can have than customer satisfaction and loyalty. Customer Relationship Management software, or CRM software, is a must-have in today’s market. 

 

CRM software doesn’t mean billing and invoicing or a salesperson’s address book. The correct software will do all of that and assist the business in decision making and predicting future business. With the appropriate CRM software, marketing teams will receive insight into their most profitable customers, companies can easily see where to invest and where to cut unprofitable business. It is one of the greatest tools for every business, and often is a key between success and mediocrity.

 

SMB Suite has solutions for these three missteps found in many small and mid-sized businesses today. Subscribing to one or all of these solutions is more cost-effective than maintaining the systems in-house. Cloud-based systems are protected from break-ins or even natural disasters. Support from SMB Suite means you can worry about running your business, not about how your technology works. Request a product tour, and stop worrying about the next mistake. Let SMB Suite take care of it.

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.