Which software increases your company's productivity the most
The advantages of an integrated business software
Every high-growth company has to decide which business system it wants to use to control its expanding activities. The consistent planning of an integrated system is often neglected because it initially seems more urgent to achieve short-term sales targets. And so different applications are then installed in the individual company areas at different times, which leads to inefficiencies in business processes and challenges in software integration. But how did these problems arise in the first place - and how can they be avoided?
Architecture of a typical business system with silos
A rapidly growing company can soon find itself with a complex application landscape. At the beginning, companies usually install accounting software.
In order to acquire more customers, they then use standalone systems for opportunity management, as well as separate customer service systems for solving customer service problems. Inventory management, order management and fulfillment are addressed with different software and spreadsheets.
In order to further increase sales, many companies are opening new locations and opening up additional sales channels, which leads to more sophisticated processes, for example through e-commerce integration, subscription billing, financial consolidation. Systems from various providers, self-developed applications or a large number of workarounds and spreadsheets are used to support these processes.
Companies that acquire their systems in this way over time will soon have to deal with a poorly planned architecture that covers short-term requirements sub-optimally and prevents the company from growing efficiently in the long term. Because the tangled network of isolated business software systems inhibits flexibility, productivity and ultimately the company's ability to grow.
Problems caused by software silos
When high-growth companies deploy silo applications, many challenges arise that can become so severe that they cripple growth. These are the five main issues that can hinder your growth when running a company with different business software systems:
Activities with no added value When your company is in growth mode, every employee must be at optimal productivity. If your employees struggle with inefficient processes, however, they have less time for their core tasks. Disjointed processes mean that important processes such as order processing, invoicing, approval of expenses and fulfillment take an unnecessarily long time. Employees may spend hours entering order information into the accounting system while their sales colleagues have long since entered the same data into the CRM system. If orders are canceled in the meantime, employees may have to search through large amounts of data to reconcile the information. This manual duplication is not only inefficient, it also increases the error rate.
Lack of real-time overview Different software systems and separate databases make it difficult to get a complete overview in a timely manner. Reliable, up-to-date reports on finance, sales, marketing, service, and fulfillment are critical to an integrated view of business. At some point, however, most companies refrain from evaluating the information on a regular basis, as the acquisition, extraction and analysis of the data takes too much time. Or countless hours are wasted linking distributed information with one another. As a result, companies make critical decisions based on inaccurate, inaccurate, outdated information - or simply on gut instinct.
Integration effort If there are many different applications, the IT department invests an enormous amount of time and money in integrating, maintaining and updating them. As soon as new versions are purchased, more integration and maintenance are required to get the different versions to work together again. As a result, valuable IT overhead is wasted and maintenance costs skyrocket.
Customer Churn: When the competition is fierce, it is important that companies deliver an exceptional customer experience in order to acquire customers and retain them over the long term. This includes informing customers quickly and precisely about the order status. If separate systems are used, however, it is difficult for employees to provide the information they want at all times because they do not have real-time access to all interaction and transaction data. Negative word of mouth and customer churn can be the unpleasant consequences.
An integrated software system ensures that customers have the right information and the right customer experience, and that your employees have instant access to all the information they need for sales, maintenance and optimal customer care.
Advantages of an integrated software suite
In order for your company to grow rapidly, it is imperative that your business applications are based on a single code base, database and integrated business processes. The advantages of such a design include enormous cost savings and improved company productivity:
Process efficiency across the company By automating key processes - such as order management, fulfillment, invoicing, collections, expense approvals, and financial consolidation - you can avoid hiring new employees who would otherwise be required to manage these processes, while keeping people engaged in higher value activities. In an ROI study of customers using the leading cloud business suite, NetSuite, Nucleus Research found that companies can use an integrated suite to increase their financial close up to 50% faster and increase sales productivity by 12.5% , increased inventory turnover by 50% and achieved further increases in efficiency. Thanks to streamlined processes, Siracom, for example, was able to increase sales by 30 percent compared to the previous year without hiring new employees.
Much better overview Real-time transparency is important in order to be able to make informed decisions in a timely manner. When employees can get information instantly from almost anywhere without wasting resources on data extraction or merging data from different sources, they are better informed and can make more accurate, faster decisions. The error rate for the DWA Media finance team was reduced by 50% by less manual data entry, while the effort for monthly consolidation and reporting was reduced from 14 days to eight days.
Significant time and cost savings in IT If IT does not have to procure, install, maintain, and integrate multiple systems with one another, it significantly reduces operating costs, and the IT time saved can be used to grow the business and improve operations.
By using the cloud, P3 Medical, a global medical device manufacturer, has saved £ 75,000 plus £ 25,000 annually in administration and maintenance. The work involved in the monthly closing has been reduced from three weeks to two days. Production costs have decreased by £ 100,000 a year.
Rapid growth With standardized processes and data in order and accounting, an integrated system can significantly accelerate expansion into new regions, markets, product lines and sales channels. The greater transparency also supports upselling and cross-selling in the customer base.
After implementing NetSuite OneWorld in just six weeks, Deliveroo easily added six new subsidiaries in the following quarter and three more shortly afterwards, with real-time reporting giving the company detailed insights into costs.
Adaptation and innovation Because process changes can be implemented quickly, ordinary business users can use their functional know-how to adapt processes and applications to improve performance. Meanwhile, IT can focus on strategic initiatives and innovations that add value to the business.
Today companies in all industries use sophisticated business software for operational management. However, many companies are still struggling to keep up with their growth and manage costs effectively. This is almost always due to the fact that a number of separate applications are in use. This causes bottlenecks in the processes and affects the productivity of the employees. Integrated cloud-based software suites such as Oracle NetSuite enable companies to overcome these difficulties that previously prevented them from growing profitably.
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