5 WAYS ERP HELPS SMBs PREPARE FOR LONG-TERM GROWTH
WAY #2 - More Often
It’s pretty common for SMB management to see reports based on periods only. That’s just how the simple accounting packages report summarized information. These summaries are important in looking at the entire picture to determine where the company is and where they’re going. These period based reports are usually enough to satisfy the tax and regulation reporting requirements.
When in between periods, the accounting solution provides some easily accessible information, such as open invoices and accounts payable. This information is good for day-to-day operations but not for determining the big picture for long term growth.
An ERP system puts the ongoing summary information executives need right at their fingertips. Data is refreshed daily, giving them the most up-to-date information when they need it. No more waiting for month-end to get key-decision making information. This near-instant access requires a single ERP system; otherwise, constantly getting the information from distributed spreadsheets destroys productivity and morale.
Check back to see the remaining ways ERP can prepare you for long-term growth. Or visit our website