When you are asked to increase the available capital at your business, are you able to quickly identify options to increase profits, reduce expenses, and otherwise generate cash flow?
Many business managers and owners struggle to answer when this question is posed to them. However, those who use SAP Business One are able to quickly identify at least 5 ways in which to improve cash flow. What are some of their options?
- 1. Explore sales activities to eliminate ineffective marketing campaigns, identify loyal customers, and identify which customer demographic has the most potential for growth – then tailor sales activities accordingly.
- 2. Identify financial waste that’s the result of inventory considerations – then develop a strategy for more just in time production, choosing better warehousing options, or eliminating products that are not selling well.
- 3. Assess purchasing decisions and supplier relationships to evaluate potential areas for savings such as renegotiating terms of sale, working with another closer supplier, or lowering the quantities associated with minimum requirements.
- 4. Eliminate time spent in meetings by ensuring that everyone who needs to access key business data is able to do so, even when they’re on the road.
- 5. Identify areas in which operation expenses could be reduced, either by eliminating overtime or more clearly defining the roles of key staff members.
Of course, all of these are just starting points. SAP Business One also enables businesses to reduce IT costs – both by using a single system to access all business data and through the ease of expanding the system as business needs change, simply by adding additional modules to the system.
SAP Business One gives small businesses a competitive edge by making it possible to access all of the same data as the bigger players in their industries. Whether you’re looking for simple solutions that allow you to increase cash flow quickly or you hope to identify areas where significant changes could greatly improve your company’s bottom line, SAP Business One offers the options you need.