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6 Ways Cloud ERP Accounting Can Help You Improve Productivity

20 Feb

6 Ways Cloud ERP Accounting Can Help You Improve Productivity

by SMB Suite
in Managed IT, SMB Blog
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So many small- and medium-sized businesses (SMBs) suffer significantly reduced productivity because they spend too much time dealing with inefficient, outdated accounting systems.452670163

Rather than focusing on the core competency of the business, SMBs rely on manual entry, inadequate system capabilities and error-laden processes. A great way to maintain clarity is to embrace cloud ERP technology to drastically improve accounting functions. Moving line-of-business systems into a well-managed hosted environment keeps your overall IT budget at a minimum.


Here are six ways cloud ERP accounting helps SMBs to improve productivity.

  1. Connect to the system remotely: Want to work from home? With remote access to the system, your employees have the flexibility to work from wherever they want. This feature also facilitates companies that rely on telecommuters. To be able to pull up a web browser and conduct business from anywhere and at any time is so important for SMBs. If someone has to take a day off, you don’t have to delay the whole billing processes. 

  2. Integrate your software programs: How many hours have your accountants wasted attempting to reconcile spreadsheets or financial systems that don’t communicate with each other? The answer is probably “too many.” Programs that lack real-time integration cause many headaches. When one spreadsheet has an error, the other spreadsheets need to be fixed. When one system is off by one number, they’re all off by one number. Hunting down problems, fixing them and putting the company back on track all because your system requires manual data entry sends time and money down the drain. 

  3. Improve your security: Cloud ERP tools are updated constantly. This means security features are more up-to-date, they have better hardware infrastructure than your basement servers and they include better backup features. If something goes wrong with your-on premises system (such as a computer crash), productivity goes down the toilet. Without a valid backup system at a Tier 1 or Tier 2 data center, which is built with many protections such as redundancies, SMBs could lose everything in a moment. 

  4. Understand your company with reporting: Spreadsheets aren’t as robust as cloud ERP systems, no matter how much time you sink into them. Dashboards, real-time data access and high quality reports are simply impossible without powerful systems. To get key performance indicators with QuickBooks, spreadsheets or on-premises solutions, SMBs must invest in third-party software, which is usually cost-prohibitive. At the end of the day, SMBs need to trust their data if they are to reconcile incoming and outgoing figures, make productive decisions, and plan for the future. 

  5. Speed up your invoicing: With cloud ERP systems, financial data is updated in real time and in one location. This means accountants don’t have to wrestle with maintaining the integrity of their bookkeeping. They don’t have to waste time questioning or repairing the validity of their data. They know how much money is coming in. Faster invoicing means faster payments and that means cash flow is improved. Research shows that the faster your invoice cycle is, the more likely you are to get paid in full. Don’t let your company endure the confusion and headaches with lengthy invoicing cycles. 

  6. Improved accounts receivable (AR) and accounts payable (AP): It’s common for SMBs to finance their business on credit cards. But when receivables don’t come in, the company fails. A lack of efficient AR kills your business quickly. But with cloud ERP, online bill pay becomes a reality with web-based systems. And thanks to the system integration, cloud ERP also allows you to pull customer data and store this information in your CRM system. Dashboards allow SMBs to gain insight into pending payments and invoicing history.


SMB owners need to optimize every corner of their companies. To thrive, such businesses must have complete control of their finances, which is only possible with powerful software. Without quality reporting, invoicing security and remote access, SMBs won’t be in a good position to balance the books and move forward with confidence.

 

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.