How your ERP can help mitigate and manage business disruption during the pandemic
By Patrick Tynan, Director at BPF Consulting Ltd, ERP Consultant and FCCA Accountant
Many companies are adapting to Covid 19 by managing operations while enabling people to work from home. This can bring many challenges and risks while Companies still need to continue to operate and report effectively and accurately on a daily, weekly and monthly basis. Here are some of the reasons why a modern ERP can help.
The ability to access your ERP from any location has never been so important. This enables people to work out of the office and particularly from home at present. By having your ERP in the cloud, you have the ability to give people that access, without comprising on the security and knowledge that your information is still secure.
'Working in isolation without being isolated'. Share information more effectively and efficiently by having one place for your key activities and information.
All your data in one place
With any ERP and particularly with Business Central, Microsoft’s ERP solution, you can ensure all your data is in one place. This makes accessibility and reporting more streamlined.
Reduce IT spend
Merge multiple systems and processes into one ERP. Cloud services means they can be managed remotely without the need for iT equipment in your office.
Get real time data
Don't wait until the end of the month to make decisions. With rapid change comes the need for quicker decision making. BY ensuring all your key data is in one place, you reduce the pain of multiple spreadsheets with conflicting information.
Practical challenges like moving paperwork out the office, printing documents, sharing files; all these activities are made very difficult with working from home. When all that paperwork is held within your ERP, these problems disappear. Document capture for Suppliers invoices, attaching documents within your ERP for sales transactions and general journals are some examples of this.
Automate manual business processes
By automating various tasks and decentralising tasks, such as approval workflows, creating Purchase Orders, bank integration, customer reminders on overdue balances, you ensure your people are focused on the higher value tasks required.
Streamline remote Financial close
By ensuring automation of certain tasks and integration of all your data, you can streamline your month end, improving the turnaround time for month end, getting faster reporting and improved accuracy. Each business and industry has the need for one or more of the needs described above. If you recognise any of these in your business, contact firstname.lastname@example.org to see if we can guide you on how to realise the benefits of your ERP. We are here to help businesses maximise the potential of their ERP by focusing on your Business, developing your People and improving your Financial control and associated operations.
- Patrick Tynan