SAP Business One Overview For The CFO
With the increase of digitization and business technology constantly changing, the role of a CFO has evolved beyond just “managing the numbers.” Modern-day CFOs are essential to planning corporate strategy and increasing efficiency to optimize company growth. They are constantly identifying investment opportunities, areas of process improvement or increased efficiency, emerging markets, and more.
This is especially true for CFOs of small and midsize businesses, which are constantly evolving and preparing to scale. With all the moving pieces involved in an emerging business, new developments and strategies need to be implemented and acted on. This makes a system that provides visibility, collaboration, and flexibility imperative to success. With more data and more processes to keep track of, small or outdated systems (or lack of a system all together) can lead to costly errors, tedious manual processes, and lack of visibility.
An Enterprise Resource Planning (ERP) system provides CFOs with a complete view of all business operations, allowing them to quickly make data-based decisions to run as efficiently as possible. A robust ERP system integrates every aspect of the business under one umbrella, so finance executives have a single source of truth that is accurate and up-to-date. This gives them a complete picture of business operations at any given point in time and allows insight into opportunities to reduce costs, areas of improvement, and ways to increase the bottom line.
SAP Business One is specifically designed to grow with developing businesses, so you have all the tools you need to streamline finance operations and drive growth, at a rate that makes sense for you. Here are a few reasons why CFOs rely on SAP Business One to help them make key business decisions:
REAL TIME INSIGHTS
Are you and your team chasing down data or struggling to catch up on deadlines due to manual processes at year end? A robust ERP system will integrate each of your business departments into your financials, allowing for a single, updated data stream that saves you time and money.
WINPLUS cut data consolidation processes by 66%, achieving global transparency across their organization.
INCREASE EFFICIENCY & SAVE VALUABLE TIME
Automate accounting updates and financial reporting so you can stop spending countless hours on data reconciliation in Excel or QuickBooks. Data is instantly and accurately incorporated into A/R and A/P across the business from sales orders, invoices, purchase orders and more, freeing up valuable time to focus on revenue-generating activity.
La Tourangelle cut the amount of time it takes to close their books in half.
GREATER TRANSPARENCY FROM ONE SINGLE SOURCE OF TRUTH
Multiple, disparate systems lead to friction and lack of visibility, creating knowledge gaps and silos within your organization. With all information inputted into one system, you can increase collaboration between business functions with total transparency across all operations. Now you can grow your business efficiently, with an organization that works together as a cohesive team.
BedStu grew 20% without adding any additional staff.
COMPREHENSIVE FINANCIAL TOOLS
SAP Business One provides a complete set of tools for your accounting and finance operations. You can conduct banking activities including processing bank statements and payments, reconciling accounts, designing custom reports, managing cash flows, tracking budgets, and comparing actual versus planned spend and revenue…in a fraction of the time it would take you in spreadsheets.
Choice Organic Teas’ VP of Operations, Ray Lacorte relies on SAP Business One to deliver reliable, accurate and timely information to “make the best possible management decisions.”
REDUCE MANUAL DATA ENTRY & ELIMINATE COSTLY ERRORS
Manual data reconciliation and disjointed business processes can lead to costly human error. Eliminate the guesswork with real-time, accurate updates across your entire business. In-memory computing within SAP Business One ensures your data is always precise and up-to-date.
Rapid Conn Group Of Companies saw 96% increase in inventory accuracy, leading to $30,000 in annual savings.
DECREASE COGS WITH OPTIMAL INVENTORY LEVELS & PRODUCTION SCHEDULING
With up-to-date, precise data on your inventory and raw materials, you can reduce waste due to expired ingredients, inefficient production scheduling and delayed shipment or out-of-stock situations. Now you can always have the optimal amount of inventory available, meet customer expectations with on-time delivery, and have access to instant, accurate information on your costs and revenue.
Trudeau Food Distribution reduced inventory by 25%, resulting in millions of cost savings.
LOWER COSTS & INCREASE SCALABILITY WITH A CLOUD SOLUTION
A SaaS-based solution allows for greater flexibility and scalability than a traditional on-prem solution. Cloud services are more secure, agile, cost-effective, and sustainable than they ever have been. Furthermore, updates to the system can be done quickly and without having to hire a development team to upgrade your solution, resulting in significant savings.
Tivoli Audio implemented SAP Business One on budget and on time, without interfacing costs thanks to immediate integration with Softengine Retail/POS.
USE DATA TO DRIVE GROWTH
With a system that is sophisticated enough to provide instant access to critical business data, CFOs can steer the company in a profitable direction based on data-driven insights on cash flow across every department. Identify opportunities to increase efficiency and streamline operations, determine where you can reduce costs, and pinpoint how you can maximize profits and increase your bottom line!
ReNu Medical completed two consecutive record-breaking sales months thanks to increased visibility into their entire process from beginning to end.
You are an integral part of corporate strategy at a growing company in the digital age. Don’t just maintain the status quo, take your business to the next level with a solution that allows you to make data-driven, growth-accelerating decisions quickly and efficiently.
SOFTENGINE SATISFIED CLIENTS
The good news is that SAP Business One's Sales Analysis capabilities enabled us to evaluate the results of that campaign and then make adjustments for future promotions. Specifically, we can check the number of transactions, discount levels and net gain or loss per promotion and per location. We have to be very careful with how we spend our precious marketing dollars and the new system gives us the tools to optimize our investment in that area.
Denise Ost, Chief Operating Officer, Goodwill Industries, San Joaquin Valley,
“Anyone you tell that you’re going to a new ERP system, they all give you that ‘pained look.’ To think that we’re on a year from when we did discovery to now three months into our live implementation, and all we’re working on is some fine-tuning. Some of these fine-tuning tasks are those little things that make our life so much easier, but this wasn’t what I expected when we went live because people told me so many horror stories. I was thankful for the effort on both Softengine and Baronet teams.”
Bruce Goldsmith, Family Owner, Baronet Coffee,0
Our experience with Softengine has been extremely positive. Any time we call for assistance, they always assign someone who’s highly professional and gets the job done quickly. Interestingly enough, I’ve become so much more educated about IT-related matters since working with the Softengine team on this project. Every time we need to upgrade the system, they walk me though all the steps to make sure that I completely understand what’s happening, which contributes to the overall success of the upgrade. It’s been a pleasure to work with them.
Virginia J. Gregorian, COO, Turbo Wholesale Tires,
The Softengine team was able to tailor SAP Business One to deliver all the traceability Swabplus needed, including all the applicable reports. Softengine enhanced the core system to enable creation of new batch numbers if components don’t already have them and the option of batch-costing. They also added fields for escalation dates, expiration dates and additional inspection data (e.g., who inspected and when), which could be incorporated into each Certificate of Analysis.
Justin Ku, Administration & Operations Coordinator, Swabplus,
We feel like we are in great hands with Softengine and the SAP Business One system they installed. It’s nice to finally put all those unreliable ERP systems and redundant procedures in the rear-view mirror.
Ray Lacorte, VP of Operations, Choice Organic Teas,
We decided to find a partner we could put our trust in. Softengine is very experienced and systemized in its approach. We were very confident we’d made the right choice. Small businesses might be intimidated by SAP software. What they don’t realize is that SAP offers solutions designed specifically for small to midsize companies like ours.
Leonard Kang, Operations Manager, Christopher Lena,
Softengine has been a key contributor to our rollout of SAP Business One. The company's consultants were excellent and helped ensure that we had a successful implementation.