On a day-to-day basis, small- and medium-sized businesses (SMBs) struggle with so many things. They don’t have nearly as much manpower as necessary, cash flow is almost always fluctuating, the competition is stiff and forecasting anything seems impossible.
While there are an infinite number of ways to alleviate these pains, streamlining accounting is one of the best. Armed with the right tools, SMBs save time and money, gain actionable insights into the company and move the business forward. The best tool to streamline your accounting is cloud-based financial accounting software.
The realm of small and mid-sized businesses is not a friendly one – it’s full of cutthroat competition, empty promises and red herrings. The survivors and thrivers are the ones who innovate, embrace change and form bonds with powerful partners. These partners aren’t necessarily physical entities, though: Some of the most robust drivers of growth are business management solutions and software systems, such as Dynamics ERP.
It should come as no surprise that Dynamics ERP is such a popular business tool. Its effectiveness has been proven time and time again, and it’s backed by the strong support of Microsoft, a true tech titan. But many business owners and executives have failed to realize the full potential of their ERP software, simply because they’re hosting an on-premise version. Let’s look at some of the advantages awarded to those businesses that undergo cloud migration:
There are a lot of benefits a true cloud ERP subscription can provide to your business. This includes the hardware infrastructure, security, maintenance, software licenses, implementation, training, support, integration services and all upgrades in a single monthly investment.
The upgrades in most cases include updates, enhancements, plus the required services to help your business take advantage of them. For the most part this is a good thing. Compared to on premise solutions, there is minimal impact to your budget because a cloud ERP subscription eliminates the days of expensive hardware upgrades, overhauls and upgrade fees. When you don’t have to pay extra for upgrades, your business is no longer tethered to outdated versions of technology that minimize efficiencies and impair process improvements. New versions are often easier to use, make business processes more efficient, provide easier access to information, have deeper levels of functionality, provide greater levels of integration and are more secure and stable.
But what if your business is not ready to tackle an upgrade to take advantage of the latest software?
There is no doubt that Cloud ERP is taking off and becoming more common place than ever before for the emergent business as well as the established enterprise. This movement has forced several technology providers to rush into adapting to these demands, and as we all know, the inevitable short-cut is taken. Today we’ll walk you through the short-cut of forced upgrades vs. allowing you, the customer the flexibility of when, why and what to upgrade.
With cost management being such an important factor for any small-to-medium-sized business, it’s vital for them to make sure they are aware of all costs related to their cloud ERP system. If they don’t, costs can quickly begin to add up. Luckily, you can get it under control in a few simple steps. . .
Communication is a key factor that affects many facets of business. This makes it essential to success and clarity. Without it, different teams may be able to complete tasks through trial and error over time, but this causes difficulty in time and communication management. This can inhibit workflow and productivity.
Luckily there’s a solution. Read on for 5 ways you can improve your business processes with an integrated ERP solution.
A study commissioned by Microsoft earlier this year outlines the productivity lost by small businesses when they have nontechnical employees manage their IT solutions. They estimate that over $24 billion in productivity is lost each year by “involuntary IT managers”.
Why are companies shooting themselves in the foot with wasted energy?
In terms of managing and analyzing your company data in Dynamics GP there are basically two options: go it alone with the built-in KPIs and reports that come with Dynamics GP or work through the integration and implementation process for a third-party Business Intelligence (BI) solution. Here at SMBSuite we know that the most valuable tools are all about flexibility and mobility for your Microsoft Dynamics GP experience. As you catch flights and work on the go to serve your global customer base, flexibility is key. You should be able to access your company’s financials wherever you are, so that you can make the best decisions quickly for the future of your organization.
But the other piece of this puzzle is getting a system that works for you without needing an in-house expert to master a complex and crucial business process. In the next few minutes, let us show you how our pre-configured, role-based dashboards and excel-based graphical report builder can give you the best of both worlds: seamless GP integration and powerful, drag-and-drop customizable business intelligence tools that offer deep insights into your company data.