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How ERP Systems are Shaping the Future of Business Management

17 Jun

How ERP Systems are Shaping the Future of Business Management

by mehreen hasan
in Business Central, SMB Blog
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Running a business is tough enough without having to contend with outdated tools and fragmented data. That’s where modern ERP systems shine, with an all-in-one solution that streamlines operations, boosts productivity, and provides real-time insights. The recent Microsoft Dynamics 365 Future of ERP Survey sheds light on how today’s ERP solutions are no longer just about managing resources; they are about enhancing productivity, driving informed decisions, and fostering collaboration. For instance, according to the survey, 85% of business leaders report increased efficiency and productivity, thanks to ERP systems.

 

Understanding ERP: A Brief Overview

ERP systems have come a long way from their early days of managing basic business processes. Today, they integrate and streamline functions like finance, HR, supply chain, and customer management, breaking down silos and improving collaboration across the board.

 

Modern ERP solutions offer advanced data analytics, real-time reporting, and seamless integration, making them essential for informed decision-making. They are now more scalable and flexible, easily adapting to the unique needs of businesses, regardless of size or industry.

 

The shift to cloud-based ERP systems has further revolutionized accessibility and cost-efficiency. Businesses can now reduce infrastructure costs, access their systems from anywhere, and benefit from enhanced data security and compliance.

 

Overcoming Challenges: The Role of AI

Business leaders are turning to AI more and more, with 80% of leaders considering the use of AI as a fundamental competitive differentiator. Despite recognizing AI’s potential, many businesses feel unprepared to fully harness its capabilities. Only 33% of leaders feel ready to utilize AI for productivity functions like virtual assistants and automation.

 

Achieving Agility: The New Business Imperative

Despite the recognition of the importance of business agility, not all business leaders are confident in their organization’s readiness to enhance agility, especially regarding innovating with technology. Yet, only 58% feel equipped with the necessary cloud-based tools. This gap underscores the need for modern ERP solutions that offer flexibility and scalability. By integrating low/no code tools alongside ERP systems, non-technical business users can create custom applications, dashboards, and reports that align with their unique requirements.

 

Key Findings from the Microsoft Dynamics 365 Survey

Some other noteworthy findings from the survey include:

 

  1. 85% of respondents reported improved efficiency and productivity after implementing an ERP system.
  2. 78% of participants indicated that ERP systems have significantly improved their decision-making capabilities.
  3. The survey revealed that 70% of organizations experienced cost savings due to streamlined processes and reduced operational redundancies.
  4. 65% of respondents emphasized the scalability and flexibility of modern ERP solutions.
  5. 60% of survey participants reported improved interdepartmental coordination, leading to enhanced teamwork and faster problem-solving.

 

For a deeper dive into the transformative power of modern ERP systems and more detailed insights from industry leaders, we recommend reading the full Microsoft Dynamics 365 Future of ERP Survey report. This comprehensive document explores the latest trends, challenges, and opportunities in the ERP landscape, offering valuable guidance for businesses aiming to enhance efficiency, agility, and decision-making capabilities. Access the full report here to stay ahead in the evolving business environment.

 

Embracing ERP Solutions with Business Central and SMB Suite

For small and medium-sized businesses (SMBs), Business Central and SMB Suite offer tailored, robust ERP solutions that drive growth and efficiency. Microsoft Dynamics 365 Business Central integrates seamlessly with other Microsoft products, providing a comprehensive solution that covers everything from financial management to customer service. As a trusted Microsoft partner, SMB Suite specializes in implementing Business Central, delivering a cost-effective, scalable ERP system designed specifically for SMBs, ensuring you have the tools you need to compete and succeed in a dynamic market. Learn more about what this powerful solution can do for your business.

 

For SMBs looking to leverage these benefits, solutions like Business Central and SMB Suite offer powerful, scalable, and cost-effective ERP options. By embracing these tools, SMBs can unlock their full potential and navigate the complexities of today’s business environment with confidence.

 

 

 

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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.