Find your gold
There is a good chance your business can be even more profitable that you realize. If you do not have a best-in-class ERP system that is well matched to your unique business needs, you may be sitting on gold—cash flow that could be freed up by leveraging your data—that would take your business to the next level.
Research shows that companies with effective ERP systems have improved profitability by enabling:
Those improvements are gained by utilizing a well-designed ERP system, like Sage ERP X3 version 7. If you can create efficiencies and harness your information to make better decisions, you can expect to reduce your operating costs, gain new customers, and increase profits to grow your business.
How do you do that?
Protect your margins
Most companies have an idea of what their profit margins are—or a goal of what they want them to be—but best-in-class companies can accurately tell you what they are, by customer, product, region, or time of year.
Intelligence tools can give you that level of clarity for costs at every purchase point. Sage ERP X3 lets you monitor key performance indicators using customizable dashboards so you can monitor changing conditions in real time and improve purchasing decisions.
Master your inventory
One of the best ways to maximize cash flow is to stock the minimum amount of inventory necessary to satisfy the maximum number of customers. Without first-class inventory management software it is very difficult to strike that balance. Sage ERP X3 version 7 comes with effective tools for controlling inventory costs, right out of the box. Business intelligence tools help you analyze trends and changes in demand to minimize excess inventory and avoid stock-outs. Replenishments can be automated based on criteria you set to avoid delays and serve customers better.
Track changes in demand to capitalize on your customers’ purchase trends and be ready with seasonal items. Identify which products are often ordered together and increase upsells by recommending products to your customers.Monitor what sells well and what does not to avoid tying up cash in undesirable inventory. Free up that cash for things that will grow your business, not drag profits down.
Maximize cash flow
Simple tools can help improve cash flow dramatically. For example—Sage ERP X3 version 7 lets you automate payment collection and processing to minimize the time it takes to get paid.
Sage ERP X3 can also make it much easier to protect your cash flow, helping you: monitor who still owes you and who is chronically late; avoid late payments by running credit checks beforehand to assess risk and impose minimums or maximums for purchase orders to ensure your margins are profitable.
Expand online opportunities
More and more, companies want to increase profitability by leveraging the benefits of selling through both distributors and an online storefront. Yet setting up that infrastructure and connecting your inventory with online sales may seem complicated.
But it does not have to be. If you have a flexible ERP system like Sage ERP X3 version 7 you can easily integrate inventory with your website so online sales flow seamlessly through your supply chain. Customers who visit your site can see accurate inventory counts, place orders 24/7, and receive shipping status updates.
In a short period of time, you can gain new customers by virtue of being online. Attract even more prospects by running targeted promotions on inventory you need to move.
You may not be able to control the market, but you can take back control of your cash flow and protect your margins.
If you are operating with limited capital, look within your organization to correct inefficiencies that cost time and money. They are there.
When you are in the midst of the day-to-day operations of running a company, it can be tempting to think you just need to work harder or add to your team. Though with a best-in-class ERP solution, the same amount of people can get more done in the same time. Get the tools you need to work smarter—regain some agility, take products to market faster, and mobilize your team to gain a competitive edge.
Sage ERP X3 version 7 is the single best tool to help you drive efficiencies across all areas, from finance to operations, so that everyone gets the insight they need, when they need it. No matter where you do business, nor on what device, Sage ERP X3 version 7 is ready to help you accelerate your cash flow and revive profitable growth.