How ERP Software can help you organize your business?
No matter how advanced technology gets around us, we still struggle with organizing ourselves at work. We all get stuck up with lots of daily work and end up not being productive and things gets out of control for us in the business.
In order to sustain the business in the long run the manual ways of working are no longer beneficial for the business.
Businesses globally and around us have adopted technology which has drastically improved their business operation and the efficiency. It has helped the business managers and owners to focus on the primary goals of the business and increased possibility of business expansion in a controlled manner.
The way forward for the businesses is to embark upon onboarding an ERP software that not only will transform their manual ways of doing business but will also provide an opportunity for the business owners to oversee the business from the bird eye view and analyze the data for better decision making.
E.g. You implement ERP software to automate your “Billing Process”. The system will automatically help you in tracking your receivable and provide you with collection forecast data to better analyze and manage your cash flows.
Another example of your business process would be a “Payroll Process”, whereby the system will help you in tracking the attendance of your employees. This attendance data will enable your system to process payroll within no time. Furthermore, the system will provide you with Employee Pay Slips and all the necessary compliance-related reports on a button click. Your accountants will be freed from monthly mundane jobs and focusing on pressing business matters.
The examples given above were only for two business processes i.e. Billing & Payroll.
However, ERP software will help you in every process of your business from Procure-to-pay and Sale-to-receive. This entire process will be then linked to your General Ledger that will help you in generating your Financial Reports i.e. Trial Balance, Income Statement & Balance Sheet.
At the end of the day any business owner or manager would require data on his hand to analyze the progress of the business which is easily made possible by these ERP systems available.
Today government of the United Republic of Tanzania is also encouraging businesses to use technology whereby TRA is open to integrate directly with the ERP systems for real-time invoice fiscalization without the use of EFD Machines. Besides filing of Provisional Tax, PAYE, SDL & Final Accounts is already digitalized.
Thus it’s a time for businesses in Tanzania to embrace Technology in order to align themselves, streamline and improve their business operation.
Whilst we are talking about implementing ERP systems, there is a notion that the journey to technology is highly expensive, however, in today’s world we have options to use Cloud Based ERP systems that make such implementation cost-effective and affordable.
We have many cloud ERP systems around that can help businesses in this journey of transformation, however, it is important to align with the right technology partner. We at Imatic Technologies Limited (ITL) in Tanzania, also help businesses to organize and help to grow with the use of technology.