Sap Business One Service For The Growth Of SME’s

by Dattatreya Kulkarni Co-Founder and Director

Steady growth would be a critical factor for small and medium sized businesses. The use of technology helps small businesses focus on their long-term growth while also meeting short term goals like boosted sales. But some businesses find technology solutions to be expensive especially when they are just starting out. This is where a cost-effective and fully scalable solution like SAP Business One can be of great use. With a SAP Business One service, small and medium sized businesses will be able to add robustness into their vital processes. As a result, there is long-term improvement.

Better Snapshots Of Business Performance

Improper tracking of progress could be a big hurdle for SMEs. They might have a strong business plan and a good approach to process flow. But unless they track the progress continuously, it becomes difficult to understand whether the business is growing in the right direction. In fact, ignoring periodic evaluation could also be a reason for stagnation in some businesses. In such cases, there might be cash flowing in steadily but there might be no significant growth in terms of increase in customer base or increase in demand for the products.

With Business One, businesses would be able to capture a cumulative picture of the business performance. The performance of the brand can be understood through details about customer response, social media and other digital marketing performance and other aspects. Consolidated reports along with data visualization will help management teams to periodically obtain essential inputs from accounting, sales and customer service teams.

Better Cash Flow To Support The Growing Business

In the beginning stages, having a strong cash flow would be very important for SMEs. More than the profit margins, these businesses are concerned about the funds for their crucial expenses like marketing, inventory and supply chain processes. As a result, these businesses would benefit from any solution that can boost their cash flow. Invoicing delays or even a weak invoicing strategy can affect cash flow. Automation through SAP Business One allows SMEs to automate invoice processes. Faster check clearance and tracking of pending payments along with inventory status input help businesses work on their cash flow.

Better Streamlining Of The Processes

Sometimes, every department in the business might be performing well on its own. But gaps in communication between these might lead to unexpected hurdles. Sometimes, big bottlenecks in execution of crucial orders could also be due to such problems. For example, the inventory stocking strategy might have been changed due to operational issues. But if the sales team is not aware of this, and if there is a sudden change in the volume of orders that can be handled, then it might lead to delayed fulfilment of orders. With a SAP business One service, businesses will be able to bring all their data to one platform. As a result, before any major decisions are made, the common data reserve is referred to and this prevents order delays and other hurdles that affect the reputation of the brand.

Also Read: How Does SAP Business One Help in Serial Number Management?

For a brand to grow consistent quality of products and services, good customer service, timely order fulfilments and several other factors are important. With a SAP business one service a business can bring all these factors to a more unified channel and thus focus on growth.