Being able to successfully identify and analyse KPIs is a vital way of understanding how you can improve business performance.
People’s lives are relying more and more on technology, and this reality is something that has affected businesses as well. In fact, those companies that manage to utilise a proper Enterprise Resource Planning (ERP) solution seem to thrive and develop further, while those that don’t usually fall behind the rest of the pack.
One of these innovative ERP solutions used by businesses is Acumatica, which delivers its users the best cloud and mobile technology available, as well as a host of other benefits and features through a robust and flexible platform.
Improve your Customer Management
Serving customers is without a doubt the main reason for any company’s existence, so they should be managed effectively to ensure that the business grows. This can be easily achieved with the Acumatica Customer Management suite, which allows an organisation to set up its own customer relationship management (CRM) process. Such a solution is highly beneficial as it can automate sales workflows, which in turn allows companies to close deals faster.
In addition to the above, Acumatica CRM also caters for other business units such as marketing and customer service, which enable companies to provide better customer retention and loyalty. Likewise, workflow and security features allow businesses to customise approvals to match their sales process, while managing permissions for each screen object and customer account. Having a consolidated view into your customer accounts provides your business with a holistic view of the KPIs which drive customer growth.
Expand your product distribution
One of the hallmarks of any business is a good product turnover when they close their fiscal year. This may be quite a simple KPI to measure for some business, but companies that have a large variety and quantity of stock might find this challenging.
With the Acumatica Distribution Management suite, product distribution management becomes an easy and straightforward process. Users can determine the business real-time profitability, which can even be analysed down to specific warehouses, product lines, and locations. Overall, this leads to less cost that would normally be attributed to the management of the entire supply and distribution chain.
Develop your financial management system
Being able to coordinate product distribution and manage customers appropriately are considered as critical business KPIs. However, the ultimate goal of any company is to turn a profit, which is in itself an integral KPI to take note of.
This ability to do so is possible with Acumatica, thanks to its Financial Management suite. Users can make use of a core set of applications designed for companies with complex requirements, yet are easy to use in smaller organisations.
Some of the key benefits of this package include closing company books more efficiently, having a better understanding of where the business stands, and also taking appropriate decisions on the basis of updated analyses. In addition, this Financial Management module can easily be integrated to any other Acumatica module, which allows the user to obtain a more complete picture of how the business is performing.
Keep your projects on track
Sound project management is a multifaceted skill to have, so it is no surprise that most companies find it very hard to recruit the right people for the task. While having the correct member of staff is essential, every business should consider investing in the right software package which allows you to centrally manage every aspect of a project.
With the Acumatica Project Accounting suite, companies can control budgeting, billing, and profitability for individual business projects, schemes, or initiatives. No matter how many employees are involved, tasks are assigned, or materials being used, this feature makes the process streamlined and highly manageable. In addition, there is the added benefit of real-time reporting, which rolls projects up to company-wide financial reports.
Analysing KPIs is a vital way of understanding how you can improve your business performance. But this is not always an easy process due to the sheer amount of different systems collecting data. With Acumatica, companies can take control of their business and play to their strengths by tailoring the Enterprise Resource Planning solution to fit their precise needs.