When explaining the benefits of cloud accounting, I often tell people that with cloud accounting you can build your own ERP system as you grow.
So the obvious next questions is what is ERP?
ERP stands for Enterprise Resource Planning and is the systems in place that facilitate the processes that make your business work as you grow and scale.
When I implement an ERP system for a client, I start with the accounting software. Then I incorporate other systems and processes based on the needs of the business. For example, maybe you require a project management software for your business or a customer relationship management software to track leads. You can integrate those too. Thus you start with the accounting and build your customized ERP solution based on what you need. It all stems from the accounting system which provides you with the financials you need to make decisions for your business.
This means as you grow, you add additional processes, this facilitates further growth.
See the basic outline of an ERP below:
Now let’s change this to a Company that has a website that sells custom dog collars. A basic ERP system for them could be the following.
Eg. Roxy’s Dog Collar Solutions
If you have a business, an Enterprise Resource Planning system automates your processes, which allows you to focus on what matters. It is an important part of your future growth. The above is a simple example, give us a call if you would like our help in mapping out your own system.
Virtual Heights Accounting is a CPA firm that operates in the virtual world. We provide virtual accounting, Virtual CFO and Virtual Controller services for your growing Company. Contact us at www.vhaccounting.ca/contactus or follow our blog on your chosen social media source.