“How can I increase the efficiency and productivity of my organization?”Does this question sound familiar? Often one area that is most overlooked when strategizing possible solutions to improving your organizations efficiencies is the ‘backbone’ to any enterprise – the software and hardware system. The role of your
If you have an existing software system in place to manage your organization's accounting and finance needs you need to determine just how efficient and powerful it really is and whether you can draw a clear, direct correlation between your software system and your profitability. A good starting place is to define whether your software systems are disjointed or broken.
To do this, consider your current software system and ask yourself this…how often do you have to rekey data into the system? Do you rely on spreadsheets or multiple systems containing various support contracts to run your business?
Or how about this ‐ how old is the technology you are using to manage critical, day‐to‐day operations? One way to answer this question is to consider your year‐end close process. If the process involves a lot of paper shuffling, you will want to consider the affect or implications this may have on the overall audit trail. Too often we spend countless hours, effort and time readjusting financials because of internal miscues which could have all been prevented with proper consideration and investment in the right technology.
All of these inefficiencies can be avoided. There are many accounting/financial software solutions like
How can an integrated software solution like Microsoft Dynamics really increase operational efficiency?
For starters, let’s take a closer look or internal evaluation of your business processes. Is there any duplicated effort? Can the duplication in effort and tasks performed be streamlined using existing resources? If so, is this the most efficient use of your resources?
Continuously performing the same task one, two, or three different times manually by multiple people within your business may not seem like a big concern or impact on a daily basis but in the long run, over time this will largely affect your company’s operational efficiency. For example, rekeying information into your system may only take 10 minutes a day, but if you look at the big picture, this tedious, mundane task adds up to 9 work days a year, not to mention the possibility of errors, and the time and money used to correct or recover from those errors.
A proven, stable ERP/accounting solution that is fully integrated will seamlessly automaterelevant business processes across teams so your employees can be more effective. If you rely on your employees to help drive the company’s revenue, why not provide them with the tools that help make them more productive?
Provide insight into the most relevant, business‐critical information for everyone in your organization, for effective decision making. Enable your people to have role‐based access to the information they need to do their jobs in a format that makes sense to them. Notify your employees in advance when situations occur that require immediate action or attention through automated alerts helping them to take a proactive approach to their job responsibilities.
Integrated accounting and financial software can increase your operational efficiencies and productivity delivering a positive ROI and a firm competitive advantage. The first step to building lasting efficiencies is to take a closer look at the processes in place that manage your company. Take a look at any duplication in effort and tasks. Look beyond today and consider the long term implications these inefficiencies will have on your business.
By Encore Business Solutions,