By automating systems and consolidating data through an ERP system, you can get cash in the door faster to support the expenses that you need to pay. An ERP system that integrates all departments, allowing you to:
- Get invoices out the door more quickly. How much lag time is there between service delivery and billing? When service techs are connected to ERP through mobile devices in the field, you can bill the customer before the truck leaves the driveway.
- Identify problem accounts. Track collections over time to keep tabs on accounts receivables and be proactive with slow payers.
- Streamline supply chain processes and inventory management. Keeping inventory levels minimized with just-in-time practices will help you reduce the cash tied up in excess stock.
- Optimize purchasing to keep inventory right-sized. Through better forecasting and inventory management, you can make better decisions about purchasing. Track turnover and match buying trends to optimize stock on hand.
- Automate processes so you can grow without adding more employees. An ERP system allows you to manage more transactions without having to hire more people. For example, automate the collections process, sending reminders to past due accounts based on predefined rules. Employees will have to call far fewer accounts for payment.
- Support contract and subscription billing. Many businesses are finding monthly maintenance contracts are a popular replacement for expensive annual payments. Are there new services that you could offer through a subscription model? Automated billing and collection processes will augment and streamline cash flow.
- Have better insight into cash position. Through the consolidated data delivered by an ERP system, you can monitor current and future cash flow. With an understanding of cash position over time, you can take proactive steps to affect receipts and payments. Make smart decisions across your business ‒ from marketing and inventory to customer credit limits, discounts and payment terms ‒ to bring down costs and turn margins into cash.
- Invoices: Control & Automation. ERP solutions make it easy to control your invoices, allowing you to not worry about monthly invoice reports and have invoices issued as they happen instead. This faster invoicing process results in organisations getting paid at a faster rate. In addition to this, businesses can see which invoices are overdue, the collection efforts around them and the frequency of payments, making it easy to chase your clients for payment.
- Inventory Control. ERP provides real-time updates to your inventory, leading to a more controlled and informed purchasing cycle. This visibility of your stock will give any business a better understanding of its cash flow fluctuations.
- Workflow Automation. Automating workflows means your employees save a great deal of valuable time instead of going through tedious manual processes. Your employees can focus that time on what is important for the business, saving your organisation both time and money. There are many areas of the business where you can apply the changes described above. It is critical to understand how ERP systems can be utilised to handle and improve complex processes that drive business growth. As businesses cope more and more with online processes, your ERP can help you with your e-invoicing.
Growing companies need to keep the cash flowing to take advantage of opportunities and overcome challenges. Outdated accounting systems force your people to spend time on manual processes that slow cash down as well as limiting your view into cash flow. Let’s talk about taking your business to the next level with better cash management.
How YGL BeyondERP can help SMEs in manufacturing industry to adopt and implement Industry 4.0?
We Help Manage Industry 4.0 Implementation via ERP System
With YGL, you’ll be working with the most experienced professionals in the ERP industry. Whether you need short-term support or resources for a long term engagements, our ERP Consultants have the expertise to help you implement and integrate the ERP system requirement for Industry 4.0. With a core team of functional and technical ERP consultants that are both skilled and certified, we can quickly implement a robust ERP System to maximize the value of your investment.
YGL BeyondERP system applications allows you to enable a seamless workflow from your finance to warehouse and right down to your production efficiency by providing you the essential management dashboard which allows you to have a clear visibility.
As an industry leader in ERP system Implementation, we can be sure that each YGL consultants have the highest qualifications. We provide a wide range of ERP System Integrations with experience ranging from IOT(Internet of Things) right down to Data analytics on OEE (Overall Equipment Effectiveness), supporting all functional modules to complete project management for your project needs. All of our consultants are fully vetted for the project they’re submitted for, which means you’re only reviewing the most qualified consultants who do what you need done.
We Can Help to implement ERP System Integration under Industry 4.0
We look forward to hearing from you. Contact us today so that we can help you with our YGL BeyondERP which is strategy Industry 4.0 ready implementation needs heading towards Industry 4.0.
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