When a business pushes against the limits of its business system, once-simple processes like payroll and invoicing quickly become very complex and new business opportunities begin to require more complicated resource management and billing methods. About the time companies are calculating the ROI of software changes, many businesses run the risk of lost business due to a lack of capacity – which highlight the opportunity cost risk.
The best time to upgrade your business system is before your technology begins to limit your business; however, it can be tricky to figure out exactly when that is before it happens. Here are four questions you could ask yourself to determine whether your business system is still helping you grow.
Is your data managed by copying and pasting? If any of your regular book-keeping routines require your bookkeeper to copy and paste numbers into master spreadsheet, your book-keeper is over-worked and the manual work increases your risk of data error. As a business leader, you should be worrying that the manipulation of data may create opportunity for error or that data was lost in the process. Microsoft Dynamics SL automates these processes, saving time. Since the data is only manually entered once and is automatically moved to all the right places, less error is guaranteed.
Can you see the health of the business in a single view? Is employee time-tracking stored in a separate place from resource availability, and is invoicing stored in another place again? If all the data is stored in the cloud, data goes in once, and information can be pulled out in whatever format you need, whether you need hours posted to different clients at different rates, or you want to compare project estimates to your outsourced freelancer's and employee's billable hours, and view that against your invoicing, so you can determine whether you’re losing profits by missing out on change-orders.
Can you predict the future? Are you able to do long-term resource planning or even view recent business growth? To forecast availability of resources or see where you’re being most profitable in recent billings you need your business system to deliver business insight. If you put all your data into the cloud, you get a master summary of the business from which you can continue the graph to determine your future.
Would data loss or hardware failure destroy your business? Is your business data stored in the cloud or in files on a server in the back room? When have you allotted time and resources to manage the technology? Most companies keep putting off taking the time to update software, transition data, change processes, and update systems across the company. The perfect time to do these tasks, of course is the moment before a hardware failure, but of course nobody can predict that. Today more companies want less dependence on technology. By storing all your company data in the cloud, data loss is no longer an issue. Also your business has no hassle with renewing servers or software – software updates happen incrementally instead of having a massive upset to the business every few years.
As a Microsoft Gold Certified Partner, Accountnet helps companies get up and running with Microsoft Dynamics SL. We don’t just install and configure the software – we train your accounting staff to use it to create the reports they need, so they can analyze data as needed. Our solutions give both technical and non-technical employees the information they need to do their jobs well — wherever they are, in whatever application they choose to use. Take the next step towards growth with Microsoft Dynamics SL in the cloud or on your servers—the choice is yours. Contact us at Accountnet to learn more.
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