10 signs You’ve outgrown QuickBooks

Overcoming Obstacles to Small & Medium Business Success

QuickBooks is amazingly diverse and easy-to-use software for a growing business, with many ways to expand the software so that it can evolve with your business. However, there will come a point when your company will outgrow QuickBooks and it is no longer the best choice for your financial management software.

You love QuickBooks. QuickBooks may have been good to you. But maybe it’s time to move up.

Your business has been using QuickBooks for years to manage customer accounts, keep track of inventory and business finances, create forms for your business use and store information on your customers, vendors and other contacts. You’ve purchased all 20 concurrent licenses, you’ve set into motion aggressive growth plans, and you’re ready to formalize the financial management of your company. Now is the time to consider why you need to move beyond QuickBooks:

1. Industrial-strength Information Security:
Small and medium-sized businesses have the same information security needs as a large business. You need the peace of mind that your company financial, customer, inventory, payroll and reporting information is proactively managed, backed up, has redundancy/failover capability and protected from external security intrusions.

2. Full/Tighter Business Integration:
In the global marketplace, it is critical that you consider tools that allow you to integrate your business to save money and integrate with your suppliers and customers for additional responsiveness and profit.

3. Greater Productivity and ROI:
You want all of your employees using the best tools to manage sales order processing, inventory, customer relationships, payroll, and the like. If you have more than 20 people who need access, it’s time to move up.

4. Special/Unique Business Requirement:
Your customers and business are unique. You need to have a financial system that adapts to your business, bringing you the greatest benefit. Small and medium businesses should never have to compromise on taking care of business.

5. Better Business Planning/Reporting:
To compete today, small and medium businesses need to have the best planning and management tools. You need to understand where your business stands at all times, where your customers are and have access to information to make faster, more informed decisions.

6. More Transaction Capability:
A small and medium business should never be held back by their financial system. Being able to handle more customers, vendors, inventory items, internal and external customer requirements – and all at greater transaction volumes and speed – are key to your business’s growth and success.

7. Tighter Internal Controls:
Waste and internal process cost rob profitability. Having tighter internal controls gives you the visibility to reduce or eliminate waste, drive out costly processes and create new incremental profits for your business.

8. Full Financial Accountability:
Small and medium businesses need full audit trails, double entry accounting, rich business reporting and automated processes just like a large business.

9. Business Differentiation and Advantage:
As you compete and grow, you need tools that directly contribute to creating advantages that your competition doesn’t have and differentiation that your customer recognizes. Your fully integrated financial system can provide new levels of responsiveness, customer satisfaction, and profitability to your business – making you and your business stand out from the crowd.

10. You Want Help NOW!:
When a problem hits, you want it to go away right now. Don’t spend time ‘browsing’ for answers or waiting for a support ‘call back’ or get charged by the minute for every problem. Rest easy by getting the best, immediate application and technology support possible, right now – no waiting!

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10 reasons you need CRM

CRM has always been the domain of big business. Until now.

Managing customer relationships is key to current and future success. Unfortunately, as a business grows or as more salespeople are hired, customer relationships can suffer. After all, while you have more customers, you don’t have the detailed knowledge or understanding of each one as you did when you had fewer customers.
Enter Customer Relationship Management software (CRM). A solution designed to overcome customer relationship challenges. Previously the domain of large business, CRM is now a must for small and medium businesses wishing to grow steadily and predictably. The ability to understand product and services demand, to weed out unprofitable sales efforts and customers, to capitalize on emerging trends, and to market more intelligently, is important to small and medium businesses. Why? More revenue, faster. It is that simple.

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Here are ten reasons why your small and medium business needs CRM, right now:

  1. Generate More Leads: It’s that simple. You can turn information into leads by understanding conversations and uncovering needs that only you can fulfill.
  2. Qualify Prospects Faster: It’s what you and your salespeople are struggling with, right? Quickly evaluate contacts and leads and uncover needs or issues you can sell into. Stop wasting time where you have little or no chance of success.
  3. Close More Deals: A key to growth – more deals more often! Because you actively manage the sales process and have unique insight into customer needs, your sales team will increase their success at closing more deals.
  4. Higher Average Invoice/Deal Size: Getting more dollars every time you sell. Through customer and product/service insight your business will be in the unique position of being able to more effectively cross and upsell your products/services.
  5. Margin Preservation: Virtually eliminate discounting or leaving dollars on the table. Each sales engagement and customer can be evaluated to discover nuances and need that allows you to solidly position and defend your value and price.
  6. Improved Customer Service: Having the right relationships, processes and capabilities ensure that you can capture and resolve small issues before they become big ones.
  7. Tighter Customer Loyalty: Through closer relationships, better customer service, and anticipating needs, your customers will choose to do more business with you, more often.
  8. Business & Customer Continuity: An historical customer relationship ‘memory’ is always retained in the business, should salespeople leave or be replaced within the company. And, new salespeople get up to speed more quickly, minimizing customer relationship or service interruptions
  9. Increased Marketing ROI: Quit throwing good money after bad. You’ll know how each marketing piece, campaign, or promotional item – from placement to revenue – contributes to the business.
  10. Profitability: This is what really counts – more profit to your business. The business becomes more ‘intelligent’ when it comes to the most important and expensive drivers – sales, marketing, and customer management. Get in control of all three, driving new levels of profit to your business.
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At what stage do SME’s need an ERP system?

A commonly held perception is that ERP(Enterprise Resource Planning) tools are best suited for large-scale industries due to high cost of ownership, complexity of implementation and subsequent maintenance costs. But, in the last decade, there has been a noticeable rise in the number of SMEs willing to take on this technology and make it an integral part of their businesses.

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The right resources – or lack thereof – can mean the difference between survival and dissolution for a small enterprise. Globalization has led to the advent of disruptive technologies that SMEs need to harness to scale or even stay afloat.

As organizations pass through this transitional phase, they should be able to alter core business capabilities that will generate increased revenue opportunities. And ERP(Enterprise Resource Planning) software provides the flexibility needed to make this shift.

SMEs need to invest in technology to achieve success in the digital economy and seamlessly integrate processes across the organization this will help them take complexities out of the business and focus on growth.

We firmly believe that SMEs need to invest in ERP to benefit from built-in analytics, rapid deployment, and best practices for different business processes, including financials, production, HR, procurement and supply chain management.

Below are some of the ERP tools that can able to automate key processes and free up more time to focus on innovative growth opportunities. This clearly demonstrates how ERP can help solve issues at multiple stages.

Benefits of using ERP
SMEs hold in them the potential to be the next big enterprise and ERP systems can help them create innovative growth. Regardless of the industry or business size, real-time ERP software can help connect people, devices and networks – and create a digital core for implementing new technologies.

Here are some enlisted key benefits of next-generation ERP software:

1. Industry best practices: A systematic approach is adopted to accelerate the ERP solution implementation with minimal risk. The service packages simplify each implementation phase to achieve resilient, sustainable and flexible solutions for SMEs quickly.
2. Immediate: Empowers business users with live information from across operations, enabling business leaders to act in the moment and respond quickly to changing conditions.
3. Intelligent: ERP enables organizations to move beyond automation to contextual, role-based suggestion and autonomy, to improve productivity and support informed decision-making.
4. Integrated: The ERP solution connects workflows across every part of the enterprise and the entire value chain to increase productivity, improve collaboration, and drive innovation.

How to choose the right ERP software for your business
Knowing the organization’s exact requirement is crucial in selecting ERP. Being able to prioritize on the critical features will help SMEs adopt, implement and evolve with ERP faster.

Companies simply need to answer five simple questions to pick the right ERP. These are related to: Employee size, Industry, Deployment Option, Business Complexity and Expected Employee Growth.

These parameters should help SMEs realize their own requirements while selecting the right solution.

SMEs should look out for the following features while choosing an ERP solution:

1. One that covers all business functions and provides industry best practices: When a software provides industry best practices and complete coordination among the various functions of the business, it provides the management with the ability to quickly deploy the platform, get real-time analytics and business intelligence for complete visibility.

Once all the major functions in an organization are interconnected and on the one single platform, it creates an ease of operation, removing unnecessary complexities.

2. Ensure it can grow with you: It is extremely important that the ERP software suite is a completely scalable solution leveraging the benefits of a SaaS ERP. If the organization adds a new subsidiary or acquires new entities, the suite should be able to easily incorporate them and integrate office & warehouses across the globe.

Also, establishing a digital core can help connect the enterprise with people, business networks as well as next-generation technologies such as the IoT, Big Data, machine learning, artificial intelligence and more.

3. Should be available anytime, anywhere: In current times, when work flexibility and accessibility is of utmost necessity, it becomes equally important that the ERP software used can cater to this need.

4. Look for experienced partner ecosystem for rapid deployment: The ERP solutions should be supported by a mature partner ecosystem that can help SMEs identify, buy, build, implement, service, support and run the solutions that best fits the organization’s unique needs. Also, they should seek industry based Rapid Deployment Packages that are built, sold and supported by the partners.

Such integrated solutions leverage the core ERP software and innovations, together with the partner’s intellectual property, such as industry or line of business expertise, specialised services, customisations, configurations or applications. These resulting solutions offer rapid time to value, low risk with high predictability at attractive price points

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