As reported by the Arizona Business News, small businesses are reporting the highest levels of optimism in over eight years. As major contributors to the gross domestic product and with the largest share of hiring, small businesses can impose a positive impact to the economy. Small businesses can maintain that optimism and drive growth with the support of a powerful enterprise resource planning (ERP) solution.
Scott Drake reports that small business optimism is up in “Small Business Optimism at 8 Year High,” a short video by the Arizona Business News. Other good news offered by the National Federation of Independent Businesses supported findings that the small business optimism index increased by 2.3 points, the highest reading since 2006 and the Labor Department indicates hiring has reached its highest levels since 2001. Business owners and managers may be buoyed by positive changes in the economy, hiring new talent, or developing plans for the upcoming year that capitalize on these great indicators. However, optimism doesn’t pay the bills. Turn optimism into forward momentum with an ERP solution and reach those goals.
Small businesses can use an affordable ERP solution to manage all of their business operations including financials, inventory and supply chain, manufacturing and distribution operations, human resources and payroll activities, or other core business processes. A centralized business management solution makes it easier to find and monitor the data that you need to keep your business pointing forward. You can keep close tabs on budgets, watch sales figures, and have a finger on profit margins so you can respond faster to new opportunities or turn bad situations around.
Many ERP solutions, including Microsoft Dynamics® GP, offer built-in business intelligence that can support your strategic plans. You can monitor trends in your data such as the products or services that are gaining in popularity or yield the highest profit margins, for example. You can also gain insight into your customer needs which can lead to improved customer satisfaction and long-term loyalty. The more you can learn about your business and customers, the more you can leverage that data to your competitive advantage.
Add forward momentum to your optimism by using a powerful ERP solution to drive growth. Contact Sherwood Systems to learn more about using ERP to streamline operations, improve profitability, and keep your business moving forward.