It’s not easy being wealthy. The more money or assets one has, the greater the need for sound financial management practices. Without planning, an individual might jeopardize accumulated wealth and watch it dwindle away.
Therefore, most people with considerable wealth take advantage of financial decision-making tools. These are often software systems that provide comprehensive views of personal investment portfolios, as well as data and analysis to help users make more informed decisions.
Businesses are similar to wealthy individuals in this respect. Financial well-being doesn’t just happen by itself, and companies will quickly lose competitive ground without a way to efficiently capture financial data and make smart business decisions. Consequently, many leading businesses choose enterprise resource planning (ERP) software solutions for strategic fiscal help. ERP technology provides a comprehensive overview of a company’s financial operations, saving businesses time and money while also providing department heads with critical data.
Everyday benefits for long-term success
ERP technology doesn’t just steer a company in the right direction for growth; it also provides tangible daily benefits for managers, financial teams and any employees slowed down by antiquated procedures. ERP solutions automate routines like data entry, giving workers valuable hours back as well as real-time updates on the company’s financial health and operations. Role-based security features make sensitive information accessible only to select employees, while still ensuring the rest of the company receives the basic business intelligence benefits.
Additionally, leading ERP solutions are multicurrency and multilingual to accommodate today’s global economy. And with built-in compliance enforcement standards, the latest ERP solutions also assist companies with regulatory requirements, such as those for import/export reporting, Sarbanes-Oxley, or others mandated by the FCC and the FTC.
The recipe for success
Wine Country Kitchens in Napa can attest to the immediate benefits of implementing an ERP solution. The company produces more than 500 custom items, including barbecue and pasta sauces, tapenades, oils and vinegars; it also handles custom contract packaging for independent developers. Consequently, it depends on numerous tracking systems and databases for sales and financial data and manufacturing requirements. However, the company was using dated and disparate manual systems that robbed employees of productivity and drained the company of time and money.
To simplify and streamline its business processes, Wine Country Kitchens partnered with Microsoft Gold Certified Partner SCS, Inc., of San Mateo, Calif., to implement Microsoft Dynamics NAV. “As a growing company, Wine Country Kitchens needed an ERP solution that would be affordably scalable over time,” says SCS Chief Executive Officer Helen Russell. “Given these factors and the complexity of the company’s operations, we concluded that Microsoft Dynamics NAV was just what the company needed to refashion and improve its business processes.”
With the deployment of this technology, the company’s daily operations changed dramatically. The sales staff began spending more time achieving goals and less time on administrative processes, while troubling entry, production and inventory errors became yesterday’s problems.
The company’s customer service improved, thanks to real-time inventory information, and shipping turnaround decreased from 48 to 24 hours for most orders. Time spent on end-of-month inventory reconciliation dropped by 50 percent.
Additionally, the ERP solution has helped Wine Country Kitchens calculate the true cost of goods with greater accuracy. In the past, the company had to base the value of finished goods on abstract figures in a fluctuating market of fresh and imported ingredients. With ERP technology, the company could begin calculating the actual cost of materials and labor in real time.
Wine Country Kitchens’ ERP solution satisfied 95 percent of its business needs with minimal customization, and gave it a significant advantage against its competitors.
Choosing an ERP solution
Businesses have a range of ERP solutions from which to choose and should consider several important factors when deciding. First, ascertain if the solution will scale with business growth. Second, consider the level of technical support needed for implementation and maintenance. Finally, look at the financial feasibility over a three- to five-year timeframe.
Today’s businesses need technical solutions that integrate and remain adaptable with other utilities. Fortunately, current ERP solutions are known for their flexibility, have a wide range of parameters and are highly customizable over time.
Ready for deployment
Just as businesses have a variety of ERP solutions available to them, a diverse assortment of companies exists to help businesses deploy and maintain the technology. To ensure the successful deployment and ongoing integrity of the system, choose an IT partner that provides a comprehensive business process and procedural review. It’s important to choose a flexible ERP solution and licensing structure that will adjust according to the evolution of your business, and let your business maximize its investments in the technology.
In today’s competitive marketplace, business decision makers spend significant amounts of time deliberating the best means to business success. A variety of factors will determine a company’s future, and some are imperative to success, such as business intelligence and strong productivity. When calculating your business’ formula for success, pay close attention to these aspects, factoring in an ERP solution for a guaranteed competitive edge.
Michael Strand is the west region general manager of Microsoft Dynamics and is responsible for managing regional partners and sales of Microsoft Dynamics products in the Western United States. You can reach him at mstrand@microsoft.com.
