After the worst of the pandemic petered out in 2022, I made a prediction (and recommendation) that more small businesses would start using ERP. With the acceleration and reliance on technology, plus the need for improved visibility and agility within the business, it just made sense.
As we're now in the midst of all this chaos, I'm sure many of you will be looking for ways to optimise SAP B1, so in the article below, I'll be outlining which features will make it easier for you to grow your profits and customers.
Why you should be looking to invest in your ERP in 2023
In Australia, we're on the cusp of some headwinds. Interest rates will no doubt be going up, the possibility of a recession for the US is close, and global supply chain issues still plague us. And while there is an argument to be made for battening down the hatches, so to say, there are opportunities for forward-thinking businesses that are keen to take them.
Future uncertainty will be making consumers more reluctant to shop at higher prices, but businesses - of all price points - should be observing the 80/20 rule and making sure that their top 20% of customers stay with them.
And to do this, businesses should be investing in systems that make their consumers want to continually choose them over their competitors.
5 most beneficial features of SAP Business One for small businesses
SAP Business One provides your business with all the features needed to improve your relationships with customers, get more visibility, and understand what's coming on the horizon.
I've found that the SAP B1 features you'll find most valuable are the:
1. Enterprise search
Enterprise search allows you to search your entire database without having an expert to write a query for you. You can tick what areas of the software you want it to search (for example items, business partners, price lists, or addresses), type in the word you're looking for, and it'll come back with all the records.
Businesses are made up of tonnes of information and searching for the right data can be difficult and time-consuming when you're not sure what you're looking for - but enterprise search takes the difficulties of this away and makes collecting information quick and easy.
Your customers are incredibly valuable to your business, and in the midst of increased competition, supply chain delays, and higher prices, a well-placed email could be what keeps them with you.
SAP B1's CRM will make it easy to keep track of your customers and their interactions with you, predict sales potential, and keep them up to date with stock levels.
3. Customer 360° view
When it's vital to have as much information as possible, the customer 360° view plays a crucial part in helping you understand more about your customers and predict their buying patterns.
You can analyse data about each of your customers and get predictions on their value to you, their probability to churn, the potential to win an opportunity with them, and much more. These insights will be able to guide your interactions and make sure that your customers stay loyal.
4. Cloud offering
Agility is invaluable for businesses, and improving on this means having information available whenever you need it from wherever you are. While having an on-premises system is common for small businesses, there are significant advantages to choosing the cloud version of SAP B1. Greater security, no hardware or maintenance costs, protections against data loss, and your software is always up to date with the latest version.
5. Web client
Another feature that we spoke about recently is the ability to access your ERP from any web browser on any device. This makes B1 much more approachable and accessible in an age where users expect to have access to all their tools from their mobile devices.
Future-proofing your business with the right technology
Now is the best time to start utilising your ERP more. If you're interested in learning more about how SAP Business One could benefit you, you can read more about which external data sources to connect to your ERP, and other great time-saving features that save you hours of manual accounting.
And if you have any questions, you can contact our team today to discuss how we can help you.