In last week’s blog, I discussed issues around business complexities which may indicate that it’s time to upgrade your accounting software to a new ERP system. Here are some more observations and signs:

Data Duplication

It is common for businesses to have multiple mini-systems running, due to the lack of functionality available in an accounting system. However, this creates the problem of repeat work and the duplication of data entry required. Sometimes the development of an interface between the systems is the only solution to avoid data duplication; other times this may not be practical. This data duplication leads to incredibly inefficient use employees’ time, not to mention that it can be demotivating and may affect overall employee retention. The need to reproduce data that already exists in one system is avoided with a fully integrated system.

Data Access & Reporting

Another common issue that a business can lose sight of is the amount of time staff spend searching for information in the accounting system. Time spent searching for information adds no value to a business; analysing information is where you reap the benefits. If you spend more time searching and compiling data than analysing it, it might be time for a change.

Entering all the information into an accounting system is relatively easy; extracting that information to provide meaningful reports is often much more complex and sometimes beyond the capabilities of simple accounting systems.

These are only a few common triggers that indicate whether you should be beginning the search for a new ERP system. If you are reading this blog then you too may be on the path to discovering what a new ERP system could do for your business. Contact one of our trusted advisors today to explore these ideas, and see if Microsoft Dynamics NAV is suitable for your business.

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Written By Chris Johnstone

Chris joined Fenwick Software in 2010. He is the company’s Finance & Commercial Manager. Chris is a Chartered Accountant with a Bachelor of Business Accounting from Monash University. As well as being responsible for the Fenwick’s finance and accounting operations Chris also helps to manage commercial relationships with customers and suppliers.

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