Why Your Business Need A Modern ERP System?

PostedOn: 2018-11-08 12:28:25

If you’ve outgrown your accounting software or your ERP System is old, it’s time to do something about it. Accounting software may give you an oversight of your business’s finances, but it’s not for eternity the right tool for business planning. For example, you might want to identify trends by analyzing data from across your business including from your sales, CRM and supply chain management systems. Accounting software mightn’t be capable of that sort of cross-application integration. If that’s the case, you ought to consider an Enterprise Resource Planning solution.

We’ve covered the benefits of ERP systems previously, but with the arrival of new ERP goods this year, we think it’s worth revisiting this issue.

These products can help your analysis and planning in the following ways:

  • They combine more information from across your business. 

Dynamics 365 Business Central combines financial, sales, service and operational information. For example, you can coalesce data about sales, purchasing, inventory and customer interactions to better understand your business’s economic performance.

  • They have modern analytical capabilities, helping you spot trends and opportunities faster. 

For example, Dynamics 365 Business Central users can harness artificial intelligence (AI) and machine learning to create analytical analysis experiments.

  • They streamline reporting and compliance. 

For example, Dynamics 365 service provider Empire has blogged about how the software helps businesses comply with legislation such as Europe’s General Data Protection parameter. Compliance Manager for Dynamics 365 speeds up compliance assessments and GDPR report preparation. 

  • They’re cloud-based, unlike some old ERP systems. 

Dynamics 365 runs in the cloud and stores data in the cloud. That enables you to access data from any location, rather than confining it to a server that’s difficult to access when you’re away from your office. Storing data in a sole cloud repository also reduces the risk of errors caused by having multiple versions of information in different places. The product also integrates with Office 365, making it easier to access and edit data from across your business.