Creating your own business is an exciting time. You’ve come up with a grand idea and people are responding to it. But as we all know, startups can be rocky at first. You’re just gaining your footing and there are a million different aspects of the business to manage.
Once your startup really takes off and demand for your product skyrockets, you can face challenges among your financials, management, sales and deliveries.ERP software can help manage all these areas of your startup for you. If you’re continuing to grow and don’t want to burn out, here are the warning signs that your startup might be in need of ERP.
Working on multiple software platforms
If you’re trying to manage every aspect of your startup with a different software, then you’re probably facing miscommunication among employees. If your accountants are working on an accounts receivable software in a different platform than your sales department is managing customer orders, there is no communication and data will go overlooked. ERP software will integrate all the data across departments ensuring easier financial management.
Lack of information visibility
If you’re working on a startup, investors are important. Without their support, you wouldn’t have made it this far. If one of your investors, or potential investors, wants to know your current sales margin, would you be able to find the answer easily? If you have to go crunching numbers, that’s probably not the easiest or quickest solution. You should be able to access your sales to date and other performance metrics easily. Using ERP software allows quick visibility into the data of your startup.
Accounting is difficult
The more orders you get for your product, the more difficult it will become to manage paper invoices and spreadsheets. If your startup is taking off you find yourself drowning in invoices, ERP may be the solution. ERP systems create invoices and send alerts to every department involved in the collections process.
Behind on sales and customer experience
Every startup dream is that you’re inundated with sales, but that’s not so great when you literally can’t keep up. If you’re running out of product, you’re losing out on sales and possibly losing out on a return customer. Being able to guarantee the right quantity of a product is possible on an ERP program and inventory becomes more manageable.
Running multiple software programs is a mess for IT. If you’re integrating each different product with each other and constantly upgrading each one, you’re spending too much time on your software and not enough time on your sales and customers. ERP can change with you as your startup continues to grow and leave constant upgrades behind.
Starting off on the right foot can make a world of difference for your startup. You don’t want to run out of steam before you make it through those first couple of years. Ensure that your business is a success by implementing an ERP solution.
Our ERP check-up will evaluate your system from several angles and give you a calculated grade on:Read more here.