Before you make any important business decisions, it is wise to check the books. Can you afford to take on this project or will it strain the profit margin? Unfortunately, when using entry-level accounting software like QuickBooks, the answers don’t come as easily or quickly as the questions. While you can draw financial data from QuickBooks, you still need details from procurement, manufacturing, and other departments to provide all of the information you need to move forward. Constantly going back to the books and your managers means you are looking backward more often than forward.
Growing Pain #4: Looking Back isn’t Helping Your Business Move Forward
According to a 2012 survey by Information Week Enterprise Applications, 24% of businesses hope to develop and deliver innovate products and services. In order to achieve this forward thinking approach to business, you need access to critical business data in order to make the timely business decisions that drive growth. If you are unable to get your hands on detailed financial reports in real-time, then you never really know where your business stands. Are you making money or losing money? Is your profit margin high or are you just barely breaking even? You know you’ve outgrown QuickBooks when you’re so busy looking at reports focused on a backward view of your business that you don’t have time for planning and capitalizing on your future.
A business solution from Microsoft can turn your attention around. A comprehensive enterprise resource planning (ERP) solution will put all of your important data right at your fingertips without added complexity. With quick access to financial, manufacturing, inventory, and other key data in less time, and with greater accuracy, you won’t need to waste time calling managers or digging through the books. Powerful and personalized business intelligence makes it even easier to make the smart, quick decisions that drive growth. You can also spot trends with customers, suppliers, and internally that you can use to your advantage.
Joe Whitty, Controller at Amalfi Semiconductor says:
“With Microsoft Dynamics® … we can grow our sales and operations based on real insights into the actual needs of customers. If we had to do it all over again, we’d make the same choice.”
With more insight, you can boost profit margins by sharpening your supply chain, improving productivity, and optimizing cash flow. Outperform your competition by being the quickest to respond to customer needs, knowing what your customers will want or need before they do and still maintain the profit you need to grow strong.
The possibilities are endless when you can stop looking backward for data you need and use a robust Microsoft business solution to move forward and take your business to the next level. Join us next week when we explore the next growing pain: putting off new business opportunities.
To learn more about software solutions that could help your growing business, schedule a free business consultation with an Admiral executive today!