These days, companies in virtually each industry are using complicated business software to boost their growth, but many are still struggling to keep up with their growth and handle their costs effectively. This is because of a medley of disjointed functional systems that lead to process bottlenecks and issues with employee productivity. Integrated business software suites are revolutionizing how companies operate, allowing them to overcome growing pains that previously were preventing them from upgrading their business to the next level of gainful growth.
To make your business develop at the remarkable rates you planned for, it is important to have your business software applications integrated around no more than one codebase, database and business process. A very simple example is using a powerful Excel-based data manipulation tool if your business relies significantly on spreadsheets for record-keeping. The advantages of doing so yields huge cost savings and higher business productivity, including:
Process Efficiency in the Organization
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There are a lot of central processes that you can encounter in your everyday operations, from order management to fulfillment to invoicing to cash collection and so on. Automating such processes allows you not to get new hires that would otherwise be needed to handle these processes, as well as redeploy staff to more important -value activities to help your business grow. In an ROI study that involved customers using integrated software suites, it was noted that companies can fast-track their financial close times by almost half, boost sales productivity by 12. Processing time also decreased by 66{2e7b09de0d98acc480d6ae0c88fb06d167a2dd09c888e48fe466556d71f95dd1} in the same study.
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Considerably Improved Visibility
Real-time visibility is crucial in making timely and sound decisions. When information is immediately accessible from practically anywhere, without spending resources for data extraction and combining data from varied sources, workers are better informed and will be able to make faster, more correct decisions. For instance, with all their data available in real-time, a business can monitor their suppliers’ workloads in real-time and increase their business in the coming years while making significant annual savings.
Substantial IT Time and Cost Savings
With IT not having to procure, install, and maintain several systems and the different integrations between them, a huge reduction in operational costs will be noted as IT time can be spent enhancing business operations.
Fast-tracked Growth
Integrated software system allows for a faster expansion to various locations and expanded sales media. Companies may also upsell and cross-sell more efficiently to their current customer base with the enhanced visibility they enjoy.
User-Inspired Innovation
Since process changes may be implemented fast, day-to-day business users can apply their functional expertise to customize processes and applications for improved performance. Meanwhile, IT is freed to focus on tactical initiatives that can add more value to the bottom line by making creative value-added solutions.