Companies grow like children, some faster, others slower, helped by the evolution of the economy, the inspiration of managers, capital intake and innovation, etc. Statistics show that 1 from 2 Romanian companies manage to make a profit, which in the case of about 37% exceeds 20% of turnover (see BNR Financial Stability Report 2019 https://www.bnr.ro/PublicationDocuments.aspx?icid=19966). Such companies have an upward evolution over time, become regional players, open branches, expand the range of products or services, increase the number of employees, export, etc.
In essence, any company represents a grouping of resources: people, capital, equipment, products, business processes, technologies, intellectual property, etc. As the company grows, the resources management becomes more difficult and even more using them in a profitable way. For this reason, many growing companies are forced to change their management information systems because they no longer provide the necessary support.
One explanation is that they have invested in simple accounting solutions that fail to cope with the growing number of resources that need to be managed. These solutions have a limited life, both by the functionalities offered and by the technology used and it is necessary to change them at the first sign of blocking.
An ERP system that grows with your business
The situation can be avoided by choosing a modern ERP system, from a provider with vision and long-term development plans. Such a system is modular and flexible. Specifically, it consists of native interconnectable modules with functionalities that can be activated on request. A company can start with 1-2 modules to choose from and later add other modules or activate new functionalities, depending on its evolution.
SAP Business One is an ERP system designed to be developed together with the client’s needs. It is flexible and modular, so that new functionalities can be added permanently, keeping the same foundation that originally was built.
Regardless of the activity field, SAP Business One integrates all the key aspects of a company and offers visibility on all transactions:
- Financial management
- Banking and reconciliation operations
- Fixed assets management
- Acquisitions and inventories
- Sales and customer management
- Production planning
- Analysis and reporting
- Business Intelligence
By consolidating all existing data in the company into a single source, the management has a real-time perspective on the business and can make informed decisions. And informed decisions generate even more business.
SAP Business One – strengths for a developing company:
- Modular ERP system, allows the addition / activation of functionalities only when necessary
- Complete solution: financial accounting management, sales, customer relationship management, operations, reporting, fixed assets, human resources. Basically, the company does not need other auxiliary solutions for basic activity management
- For very specific fields there are over 500 dedicated add-ons (retail, warehouse, payroll, e-commerce, production, POS, etc.)
- Supports innovation. Any change in the business plan will be easy to apply with SAP Business One. Do you bring new products to your portfolio? Want to sell online? Are you a manufacturing company but you also want to have your own distribution? Do you want to export as well? Nothing easier.
- Allows regional expansion and easy office and branches management. Allows unit management of a group of companies.
- Facilitates the management of a geographically distributed team, through virtual management and remotework.
Opening a new line of business, setting up a branch, expanding to another county or highland are not easy to manage without a solution designed for this purpose. The use of a single system in all departments or branches leads both to the consolidation of data in the headquarters and to the adoption of a homogeneous work style. In addition, SAP Business One provides a standardized, enterprise-wide framework and the control that management need for effective remote coordination.
Remote work did not appear during the covid 19 crisis but was always specific for developing companies, with teams are distributed in the most diverse cities and coordinated from headquarters. For such companies, SAP Business One is the platform that offers consistent activity, employees mobility and collaboration. A modular and flexible ERP system that grows with the business and does not limit development.
For more information on how SAP Business One helps grow your business, you can contact us HERE.