Introduction
When choosing whether to upgrade or replace your ERP system, it is necessary to talk about revenue. After all, revenue is what drives your business. The right ERP will grow potential revenue by giving your Sales team the information they need to close deals and increase real revenue by improving your traceability in invoicing.
Potential Revenue
If your team can’t properly price products or quote for new business fast enough, then you are missing out on potential revenue. Sales teams are successful in closing deals when they work with three things: speed, precision, and knowledge. Speed is essential in today’s highly competitive marketplace, but your team still needs to quote precisely so that the customer is happy and you make money. Your Sales team should also distinguish themselves from others by using data. 75% of decision-makers surveyed by Forrester stated that salespeople demonstrate little knowledge about their own business (RainmakerVT). This could be because many legacy ERPs make it cumbersome to get data out of the system. An ERP should offer your team a wealth of historical data to draw from as well as cost-based estimates using the latest raw materials and labor costs. It can offer customer-specific templates and automate the quoting process to eliminate human error. Overall, your ERP should support your sales process so that it is efficient and effective. An ERP consultant can ensure that your set up will work with your team and should review your process with a business-first approach to drive your competitive advantage, just like Datix does with our clients. With the right tools, your team can generate more revenue from new customers no matter what the market is doing.
Real Revenue
Additionally, you could be losing real revenue if your ERP lacks traceability and you aren’t properly invoicing. It is a terrible feeling to look at your records and feel unsure if an invoice has been sent out or if it was correct. 61% of late payments are due to incorrect invoices, which delays money from entering your business and makes your team look sloppy (Sharespace). With history tracking, your ERP can tell you who and when tasks are being completed to eliminate the dreaded errors where data isn’t entered into the system and an invoice is never even sent.
Wrap Up
Growing revenue is one of the main reasons to invest in an ERP, whether you are upgrading an existing system or finding a new one. It can be challenging to determine which system will lead to the greatest jump in revenue for your specific business, especially if you are unaware of what a modern ERP can offer.
Learn How a Modern ERP can Improve Operations, Intelligence, and Productivity
About Datix
Unlike our competitors, Datix will work with you closely to understand exactly how you work so we can find the best ERP solution for you. We use your pain points to find the right methodology for your needs and offer our support throughout every step of the implementation process. With 25 years of experience, Datix is the partner of choice for ERP solutions.
