With GST being implemented from 1st July and When you notice that your monthly report is going down dont even imagine continuing your business the same statistics for longer and longer. If your business is facing a trouble means you have to upgrade your Accounting Software to an erp system with GST
Lets see some ways how erp system with GST helps with your business after transition:
Everyone planned to provide the best quality products during the startup and they do the same. But as the time goes on there may be some competitors who can produce high quality material at the same price. If this situation persists long tell a good reason why not your customers just move to high quality product available at the same price at which you are providing?
You will have no idea how to move your business to attach people with your side. How will you provide high quality at low price when your business is getting low? There will be no use if you keep upgrading the volume without solving the issues. If you continue doing the same it will results in bad such that you will dare to know how much you will be having in your inventory. Simply, don”™t make the things worse by doing nothing.
ERP Software will provide a solution for this situation. erp system with GST itself categorizes how much stock left over in your inventory? And it will calculate the accurate applicable discount to manage your business with low profit or without any loss to safeguard your business. Any how you can just simply get rid of the typical situation if you own an ERP Software and boost yourself to next level that introducing something special in your brand.
For your Kind attention, if you are already using a erp system with GST means then you wont get into this struggle as the ERP Software alerts you if the sales order is getting continuously low and if your products are lasts long then it wont raise the purchase order.
ERP Software also insists Quality checking at two stages. One is while buying the raw materials and the other is during the product delivery. So you can easily maintain and retain your product quality such that these kinds of problems never arise.
It is important you move quickly to minimize your business risk. You have to re-examine and prepare a new Business Plan to review and assess your current situation and plan the future. Your Accountant or Financial Planner wont do their best it they run on low salary. You have no other better go than the ERP Software to make independent and hard decisions.
The first thing you have to check is the expenses tab of the ERP Software because the expense reduction is the key to survival. ERP Software will hold the values for your Personnel, pens, paperclips, price tags, and personal perks. Examine and cut out the fat! Reduce the expenses until the company is profitable again. Reducing these Non-Trading costs may actually prove that they can be carried more into prosperous periods, making the business even more successful in the long term.
Is it sufficient just to reduce your expense and simply watching how business is going? The Answer is definitely no. You have to increase the income. Collect the debt from your customers listed under the debtors section of the ERP Software. Enter tighter limits on the amount of credit you extend to your customers. If you have exposure to large customers, seek assurances and guarantees on how they will pay their account. Enter repayment schedules and offer ”˜cash only”™ terms until your customer accounts are in order. If the decision is between being flexible and survival there is really only one choice and you know that.
Look very closely at the payroll. No one likes to let people go, but payroll is often the quickest, easiest place to find needed cash. As business increases, many times companies fatten their payrolls with more employees than they really need. These people are great to have around to make the operation easier, but if they are not adding anything to the bottom line, they are not affordable in a poor economic environment.
Implementing ERP Software during the Tough times will stand the top of the risk management strategies which will protect and grow your revenue.
I always Suggest Clients to Try out some ERP Software to compare the best fit for their business or you can check on ERP comparison tool or Listen to what Leading Business Persons say about their ERP Software
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