For the past few decades, many small to midsized food or beverage companies have tried adding on to their business operations by including more applications. They have pieced together this plethora of applications that perform certain functions from accounting, orders, sales, and event marketing. The issue with all of this is that with each function, the hardware and software keep on multiplying which is not efficient in any manner. The aim for these businesses should be to focus on efficiency instead of more labor. This set of operations that are used by companies creates a tunnel vision and takes away their ability to improve significantly while their competitors beat them out easily.  

Such an infrastructure has many problems which arise due to the amalgamation of different applications. This could all be made so much easier if all the applications were managed and accessed through a cloud-based system such as NetSuite. If companies want to adapt and make a name for themselves in this competitive market, they must be willing to understand market conditions and business models and implement them into their business instantly. These applications are good but the issue is that they are not integrated, which makes them less efficient as opposed to a cloud-based system. 

NetSuite has been a godsend for many food and beverage businesses for years as it improves efficiency and streamlines the business. If you take a close look at your business, you will realize that there are many aspects you can improve by incorporating a new ERP. The following is a list of the signs that will help you identify whether it’s the time for a new ERP or not. 

  • Managing and Accessing data regularly 

This older version of businesses relies on a monthly update regarding the revenue and other aspects. However, this process is not applicable in this new age as businesses are getting data about their business every second and it allows them to edge out their competitors. It is survival of the fittest out there and you can either thrive or barely survive in this competitive market.  

Many aspects make up a complex business such as financial management, revenue management, fixed assets, procurement, order management, billing, and inventory management. However, all of this is not possible with different systems anymore. It requires one cloud-based system that saves time and effort and improves the overall efficiency of the business.  

The main issue with so many systems merged is that they are not capable of producing instant data and allowing the owner to make an informed decision. He must wait till the end of the month to collect data, then have it analyzed by experts and then move on to the next step. In the meanwhile, his competitors will have eclipsed him by leaps and bounds. When the business is small, or in a single location, it is easy to access and manage the data because everything is in sight. However, when a business expands this ease no longer remains and hindrances are created. 

Small teams can fully automate a business when they are close enough to the action but a business with different outlets cannot be automated easily, and it requires tons of manpower which most companies do not have. With the increase of systems, the time for assessment and collection of data increases as well. Most of the time is spent by employees looking for the data spreadsheets instead of analyzing them. The reports take a lot longer to process and compiled with the prior signs, you can determine that your business needs a new ERP.  

  • Manual Processing and Entering of Data 

If your business is still relying on manual processing and entering of data, then you have little to no chance of success in the current market. Your systems need to be automated if you want enough time for yourself to look at other aspects of your business that need improvement. If your customers, suppliers, and managers are still waiting for the answers while the data is being managed manually, then you should consider improving your business system.  

  • Loss of Sales due to lack of information 

Many times a business loses potential clients due to the lack of information that is given to them. Customers always look for businesses to help save their time instead of wasting it. They require accurate and fast information that will help them make decisions. If your employers rely on manual processes for all of this, there is a very high chance that the customers will not wait long enough. They will call up the next business operation to get their service or product. If all the responses were automated, you’d have a better chance of landing a client.  

  • Accounting is not limited to the system 

Companies are inclined to perform better if all of their vital processes are performed from within the system. However, most companies use the help of standalone accounting systems which act as a third party, to get their accounting deeds done. This slows down the transfer of data and the companies are forced to adapt to the third party instead of it being the other way around. This becomes even more problematic when a company is trying to expand as there is no system in place that can allow it to scale.  

  • Incorrect usage of Time 

When there are so many hardware and software issues going on with the company, it is hard for the employees to get any work done. All of their time is spent fixing these issues or complaining about them. As soon as a company adds a new layer of software, the entire process becomes even trickier and less efficient. It also brings the potential for many more errors in both software and hardware. 

These are the five signs that serve as the strongest tells of whether you should upgrade your business with a new ERP such as the NetSuite. Not only will it automate most of the processes, but it will also ensure that you can land and retain as many clients as possible.  

  • Which ERP Should You Use?

NetSuite can be fully customized to what your business needs and how it operates. Cloud ERP Partners can partner with your business to ensure NetSuite is being used at full capacity for your company. Contact us today.