Many businesses adopt an ERP-based (enterprise resource planning) approach when it comes to how they now handle their finances, accounts and various other parts of the business. There are many benefits to utilising this approach, one of the main ones being, the automation and improved accuracy that modern accounting brings, when compared with its more dated counterparts. Though this is just the tip of the iceberg.
The team here at Impress Solutions, a Romford-based IT firm offering Sage 200cloud, wanted to run through the product in more detail, looking at how its various modules can help a business grow and succeed day to day, month to month and year to year.
The Major Benefits
What are the benefits to using ERP software packages such as Sage 200cloud?
Easy Access, Anywhere
The nature of cloud computing makes it incredibly attractive to businesses that require flexibility, and the ability to operate from more than one base. Many modern-day business owners work flexible hours, and just because they’re out of the office, they see this as no reason to stop working. Provided you’ve got a stable internet connection, you can access your business’ key operations from a laptop, tablet or mobile.
Better, More Detailed Reporting.
Another key benefit of Sage 200cloud is the ability to produce detailed reports, across a whole range of areas. As well as this, you can easily compare recent results with historic data, to give a comprehensive gauge of the direction in which your business is headed.
Suited to Your Company
There are very few software packages that offer the kind of versatility that Sage 200cloud does. You can truly tailor it around your business, choosing (and paying) only for what you need, and for the number of employees who need it. This allows your business to thrive, not just in the present, but gives it the capability to expand into the future as well.
Sage 200cloud: ‘Financials’
Many businesses want to expand and develop, and yet a relatively small number of those appreciate just how important modern accounting solutions are in helping to achieve that. Too many companies rely on legacy accounting systems which force the business to work around the system, as to how it should be, the other way around.
The nominal ledger acts as your business’ accounting core. It’s where data is collated and all transactions are recorded. The ledger houses a wide range of features, from simple single journal entries all the way through to producing financial statements (balance sheets and profits and losses).
When dealing with suppliers, it’s crucial that you not only keep an accurate record of all your purchases, but also keep on top of payment management; the ability to automate invoices and purchasing processes will keep your business’ supply chain moving smoothly and seamlessly.
The sales ledger enables you to look after both the straightforward and the more complex facets involved in the customer-facing aspects of a business. For instance, you can keep track and records of every customer with whom you interact, noting down their basic details (name and address, for instance). But you can also automate the more intricate processes, as well; managing exchange rate changes, as and when you want and need to, for example.
Sage 200cloud: ‘Commercials’ (For Retail, Wholesale & Distribution)
Retail, wholesale and distribution companies have to handle more than most, in terms of the number of moving parts. For these businesses, attempting to keep on top of their industry-specific processes without adequate management software, in place, can lead to one of two things. It can either result in an overwhelmingly inefficient chain of processes, where everything that needs doing is done, but not to the standard which it could (or frankly should) be. Alternatively, processes end up slipping through the cracks and vital business processes are left incomplete, putting your business in a tricky position.
As a business handling large volumes of stock, it can be easy for the accuracy with which stock levels are measured to fall. Unless you’ve got an appropriate modern system in place, you may end up adopting an ‘estimate’ or ‘best guess’ style of stock control, creating a more inefficient business model in the process. The Commercials module enables you to keep track of all your stock, however, helping to maintain maximum levels of efficiency. Keeping tabs on overheads and incomings and outgoings become increasingly important the more you look to scale your business up. So, if you’re set on growth anytime in the future, it’s better to lay the correct foundations early on.
Purchase & Sales Order Processing
In an ideal world, purchases and sales would all go through smoothly, all of the time. However, we don’t live in an ideal world. Unfortunately, things often go wrong between both businesses and their suppliers, and their customers. Traditionally, this would’ve led to clogged up chains of paperwork and invoicing. This isn’t the case with the Financials module, however. Intuitive features such as the ‘under dispute’ option enable your business to flag up problem invoices. They’re not added to the Purchase Ledger, meaning you can sort the issue without it affecting your business’ other processes.
Our Work as Certified Sage Developers
Here at Impress Solutions, we’re partnered with Sage, and act as certified developers. This means we can gear your Sage package around your business in an entirely bespoke way. By adopting this highly configurable approach, the way your business is then able to tackle its finances is finely tuned to your business and your business alone. At Impress Solutions, we offer the barebones Sage 200cloud package (Sage 200cloud Standard) as well as Sage 200cloud Professional, which feature the following, additional modules:
- Business Intelligence (BI)
- Full Bill of Materials
- Bespoke Development
So, if you’d like to find out more about Sage 200cloud (whether that be the Standard or the Professional package) then get in touch! The flexibility afforded to you as a business is second to none, and shouldn’t be missed out on. Contact Impress Solutions today on 01708 759 760.