The dynamic and volatile nature of the trading business is changing the landscape of a trading business. Being a trader, it is critical to respond timely to customer demands and juggle all responsibilities in a real-time. On top of it, there are many industry challenges that complicate the trading business in one ways or another.
This includes competitive pressures to reduce the cost of goods sold (COGS), improve profit margins and confronting new challenges now and then.
Some leading trading companies have realized the need to bring in a robust and enterprise-ready software to overcome these challenges and instill intelligence in their business.
However, some small trading companies are still evaluating the benefits of embarking on a journey to business automation such as ERP. This blog serves as a great piece to all those traders who want to ride on an ERP bandwagon and are hesitant to do so owing to their misconception or half-knowledge about ERP such as SAP Business One.
Let’s find out what hurdles they are facing and how ERP software can mitigate all those.
Are you facing a difficult time in tracking your leads?
When you converse with one of the leading ERP software for trading companies, you will ascertain how beneficial an ERP can be to your business. You can manage leads and review your sales figures at the speed of the thought. With faster response times, and real-time actionable information it becomes easier to make informed sales decisions and keep a track of leads on the fly. Precisely, you can
- Analyze how many potential leads are coming in and monitor its quality
- Develop key insights into key market factors
- Perform periodic reviews of the sales pipeline
- Analyze your competition and work accordingly
As you expand your trading business, the need of bringing a robust and intelligent ERP intensifies further.
Can you track your sales data at warehouse/department or branch levels?
For traders, it is really critical to stay alert and keep tracking inventory at various warehouses and departments in real-time. This software helps to-
- Maintain periodic checks, consignment, bill & hold, stock transfer etc.
- Fix different sales discounts types, based on preferences, location and budget for customers
- Comply with statutory norms
- Define standard setups such as multilevel discount master, multiple logical warehouse and bin management
- Handle stocks seamlessly
Can you monitor stock availability and track consumption pattern?
With SAP Business One, it is easier to monitor stock in hand and gauge customer pattern in detail. Precisely, you can
- Gain complete visibility across your warehouses in a jiffy
- Gain critical insights into over and under stocks.
- Auto-sync all your expenses and invoices to finance and accounting module.
- Know the stock locations item-wise and place them as necessary in sync with fluctuating demand patterns
- Deliver on promise
The benefits listed above are just a few in hand however when you consult an ERP consulting partner, you will be surprised with the capabilities that this ERP holds. We know, each trading company differs from one or other standpoint. So, to become more dynamic, prepared, agile and curtail costs, ERP such as SAP Business One is an ERP you would want to lay your hands on.