Did you know that your enterprise resource planning (ERP) software can help you solve cash flow problems? Using the resources in your ERP more effectively, you can eliminate cash flow shortages and establish a strong cash flow that will allow your business to flourish.
Your ERP integrates and manages all of your business to improve productivity and efficiency. ERP software such as Acumatica and Sage 100 offer a full range of core functionality and add-on modules that provide you with everything you need to succeed.
Cash Flow Problems? Your ERP Software Can Help with That
The key to understanding how ERP software can help with cash flow problems is to think about what it does best: automate and integrate. It can automate routine tasks such as billing and invoicing, and integrate systems such as accounting, inventory, and sales to run reports on unpaid invoices, past due invoices, cash flow, and much more.
Your ERP software can help you improve your cash flow in the following five ways:
- Report late purchase orders: Orders may not be shipping out of your warehouse because only partial orders arrived. With late purchase order reports, you can see at a glance what you may be missing to fulfill orders. You can then follow up, improving both cash flow and customer service.
- Run purchasing and planning reports: Purchasing and planning reports can help you plan your inventory more effectively. Businesses often have most of their capital tied up in inventory purchases, and any excess inventory merely takes up space and bogs down money that could be spent elsewhere. Purchasing and planning reports can help you decide what to restock and when to order it. It helps you plan more efficiently and effectively for the future to keep stock levels sufficient without creating overages.
- Streamline workflows: Improving efficiencies can save you time and money. Remember that an ERP system automates as well as integrates. What processes are you doing manually now that can be easily automated in the ERP system? Many of these processes, once automated, can save considerable time, thus freeing up personnel for other tasks.
- Follow up on past-due invoices: Another benefit to an integrated system is that you can easily see which invoices are past due. Following up on open invoices can add cash back into the cash flow and close out some past due accounts. It is easy to see these open invoices on an ERP system.
- Know your cash flow: ERP systems provide you with accurate, real-time reports. These reports can help you keep a close eye on your cash flow. Many companies now struggle to understand their cash flow simply because they lack data on specific transactions, patterns, and more. With easy-to-run reports, you can quickly review your current cash flow situations. More importantly, you can get to know your cash flow and how it fluctuates on a daily, weekly, or quarterly basis. It’s the start of regaining control over your cash flow.
ERP Software that’s Right for Your Business
Acumatica is a cloud-based ERP that’s “right sized” for your business. You can peer into the heart of your business, reviewing cash flow data and more with a simple web-based interface. The dashboards are easy and intuitive to use, and many of the reporting functions that you need can be used immediately and without custom coding or reports. It’s a robust software package that takes into account the needs of today’s business.
Sage 100 has helped small businesses streamline business processes for years. Previously known as Sage ERP MAS 90 and MAS 200, this modular ERP helps businesses to enhance workflows, manage finances and increase productivity.
Emerald TC can help you choose the right ERP software for your business. Contact us today to learn more about how to use your ERP software to streamline your operations and improve your cash flow.