The Business Need for a Speedy ERP

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In most things, people love speed. We love fast cars, fast checkout lines, fast food, fast service and fast business. Particularly in business, it is more than just a desire. When it comes to staying competitive, speed is a necessity. More specifically, businesses need to consistently be on the cutting edge of innovation to stay relevant. Finance is all about money, and since money is what ultimately drives a business, this need for speed is even more crucial.

Eighty-seven percent of finance leaders either strongly (40%) or somewhat (47%) agree that their companies need to analyze financial and performance data much more quickly than they currently do, according to a CFO.com report. Only 12% said they were able to get finance reports or analysis from staff immediately or in real time. Most (58%) said it would take one day or less. Nineteen percent said it would take two to three days, and 9% indicated a week or longer.

To meet these growing demands to increase the rate at which financial analysis and reporting take place, these same finance leaders largely believe (89%) their companies need to upgrade their information systems. These upgrades must include better analytics, information reporting and data visualization.

Moreover, it is not enough for finance software to churn out numbers without context. Innovative finance leaders recognize that they need in-depth analysis on a “big data” level that old world accounting software simply does not provide. Therefore, a reliable and efficient ERP system, such as Microsoft Dynamics NAV is now more crucial for long-term success than ever.

Hear from a Dynamics NAV user how their ERP helps them improve the speed of doing business and how they up and running quickly with Socius Cloud Services:

By Socius, a Microsoft Dynamics NAV Partner in Ohio

1 thought on “The Business Need for a Speedy ERP”

  1. Online24x7, a renowned software development company provides ERP for Infrastructure and enables to streamlines the business processes in the infrastructure industry.

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