Are you a manufacturer and using excel to keep tabs on the day-to-day operations of the business? You are here because you are finding it difficult to manage everything using excel, right? Well, then let us help you by providing insights into the potential of using a custom software. Whether it is based on a custom or clone system, it will offer great benefits. So let’s see how a software can make your business more efficient as compared to excel.
Implementation of Software in Different Aspects of Business:
More Efficient Accounting:
With the help of a customized system software for your business, you can generate accounting reports with just a single click. Unlike excel where you need to enter several formulas to design a framework that gets you a report when you manually enter all the variables, the software does all of this for you. This will save you a lot of time and effort and you can get all reports like profit/ loss sheet with just a single click.
Furthermore, if you make errors in the excel formulas, you won’t have accurate data in hand. By the time you know it is an error, you may have made wrong decisions based on it. Plus it is pretty challenging to find the cell where you put the wrong formula and can take several hours.
For Example: Software like QuickBooks can do all the accounting tasks for you while you sit back and relax. It can generate professional and thorough reports with a single click. Plus, it also has an ‘edit trail’ that you can use to find who is making the changes in the data.
Data on Single Dashboard:
Data is the main ingredient in a successful plan of action. No matter which type of decision you want to take for the betterment of your business, you will be firing arrows in the dark unless you have concrete data.
Excel can show you the sales numbers, profit, loss, inventory, and other numbers but on separate sheets. However, a resource management software can show everything at one place which will save a lot of your time and energy.
For Example: A cloud based app can get data from different departments like sales and marketing, production, logistics, accounting and so on, a process that data into viewable format and display it onto your dashboard. This makes it easier for the top decision makers to view everything at single place and make better decisions rather than going back and forth with excel sheets.
Stemming from the last point, you can view data in different formats when using a software for your business. Excel lacks this feature and you will have to see data in a numerical format which you will have to manually enter first.
The addition of visuals in your data will help you understand the trends better and predict next moves based on historical data.
For Example: Using visuals like charts, graphs, and linear trend lines, you can assess which time of the year you get the most sales and which quarter is the slowest. You can then improve your marketing efforts in slow months and bring in more stock in fast ones.
Automation of Production Department:
The role of excel is to keep tabs on things like how many units of products have been sold, and how many are in stock etc. However, it doesn’t have the functionality to auto update, someone has to update it after every transaction of goods. Furthermore, it cannot notify about a product that is about to run out of stock.
You will have to hire a data entry operator to manually enter all the records of the day into excel sheet and also check it for any product that needs restocking. However, a customized system software can do these things on auto pilot.
For Example: You can have a cloud based app that keeps record of the inventory. All of the inventory has barcodes on it so the sales person can simply scan the barcode before selling it.
This will log that product as sold in the database of software and show real time remaining inventory. So when it gets below a certain threshold, you will be notified to restock.
Automation of Customers Relationship:
Collecting and managing data of your customers is a challenging task especially if you are using excel. You will have to first manually enter it into the sheet, organize it based on type of customer persona and then revisit the sheet and find the data of the customer when contacting him/her. This is a lot of work and can consumers a lot of your time. Using a CRM solution can make it easy for you to keep everything about your customers well-organized.
For Example: The software will be connected to your social channels and email account. So whenever a new customer contact you, their information will automatically be saved in the database.
Later on, you can access it if you want, otherwise, it will automatically come up when the customer contacts you again.