Not all data is good data and not all metrics are meaningful. If you are becoming bogged down with too much data or it’s taking too long to find the accurate data that you need to make business decisions, then it may be time for a better business management solution.
Business owners and managers spend a lot of time looking for and analyzing data. Metrics, key performance indicators, and other pertinent information is necessary to measure the performance of specific business operations, the status of budgets and profitability as well as the success of your business as a whole. Managing important business data with manual processes and inadequate software is inefficient and problematic. Transcribing data between solutions can lead to data errors, which can skew your metrics and lead to poor decisions. In order to capture, access, and review reliable data, you need to have a reliable business management solution in place, not disparate, specialty solutions or elaborate spreadsheets.
Many businesses turn to an enterprise resource planning (ERP) solution, such as Epicor® ERP, to manage business operations and access the data needed to make swift, prudent business decisions. You can manage all of your business operations from this single solution including financials, supply chain and inventory, manufacturing and distribution operations, human resources and payroll activities, and other core business processes. Managers can find data faster when it’s located within a centralized location. In addition, Epicor ERP also offers business intelligence features that makes it easier to monitor real-time data. Your accounting department can monitor payables and receivables, as well as days outstanding, then use this data to monitor cash flow and profitability. Sales teams can monitor sales figures by product, customer, region, or sales representative. You can use this data to identify product trends to determine which products are increasing in popularity and adjust inventory levels and manufacturing schedules accordingly.
Today’s ERP solutions are easy to use, which improves productivity, accuracy of data, and gets managers closer to the real-time data needed for making smart business decisions. Contact RAM Software Systems for more information about implementing a powerful ERP solution to capture, analyze, and use the key metrics that you need to drive business growth.
By RAM Software Systems, an Epicor Authorized Partner out of Texas