3 ways small businesses can take on the retail giants and win
Taking on the retail giants can be tough for small businesses. Here are three ways your business can challenge them and win customers.
Enterprise Resource Planning (ERP) is a type of software that connects core business processes, including inventory and order management, accounting, human resources, and customer relationship management (CRM). Using an ERP allows you to run your entire business from one system.
A company-wide ERP system gives you access to real-time data, making long-term planning and day-to-day operations more streamlined and efficient. It provides essential insights into your company, including areas for improvement, as well as giving you an overview of your finances and automating accounting tasks. Using ERP software also allows you to improve workforce management by tying all the key areas of your business together in one single system. This makes efficiently collaboration across departments straightforward.
Before undertaking an ERP implementation, it's vital to understand the requirements and pain points of your business, and the ways in which the new system will help you address them.
Implementation involves installing the software, migrating your financial data, ensuring information security, setting up users and processes, and - finally - training your staff to use the software.
Using recognised organisational change management practices can streamline the implementation process because it takes into consideration the needs of the people using the software, not just the technical aspect of ERP integration.
Taking on the retail giants can be tough for small businesses. Here are three ways your business can challenge them and win customers.
Discover how asset management CFOs can take the steps to lead the way with digital transformation at their medium-sized businesses.
What is accounting automation? Overcome the data entry challenge with our essential guide to getting started with automation.
Learn how using the right performance metrics can help your business to track the things that matter and help you make the best decisions for your company.
Got a self-assessment tax return to fill in but not sure what allowable expenses you can claim back? Read this article for some essential tips.