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ERP, or enterprise resource planning, is quickly becoming a key pillar in business growth strategies across the globe, and this is due to the versatility of the software as well as the various outcomes that come from optimised and efficient planning.

Every business is comprised of various elements – from time management and HR practices, to inventory and workplace management, each requiring proper planning to ensure that a business runs smoothly and at optimal levels. However, how do businesses go about efficiently planning their resources? ERP software allows businesses to take a closer look at their existing processes and procedures, and address various red flags or improve on practices that need refinement, ultimately improving and increasing profit margins. If you’re looking to improve your turnover, here are five ways in which to do so:

Payroll management is one of the most important aspects of a successful business. However, instead of being simple, it can be a problematic HR practice. Oftentimes, complicated payroll management arises from manual processes – think Excel spreadsheets and overflowing file cabinets. These issues often arise in large companies that employ a large staff competent. That’s an overwhelming amount of paperwork!

For any business, big or small, the best way in which to combat the obstacle of payroll management is to invest in an integrated software solution. Here are our top tips for a better payroll management process:

The world of business is governed by trends; consumer highs and lows that effect the way in which organisation operate, produce, and market. Payroll management is no different. With annual trends dictating changes and updates in HR processes and payroll management. Here are the latest payroll trends:

ERP systems, or Enterprise Resource Planning, is one of the best ways in which to keep tabs on a growing business. Not only does ERP assist with fine-tuning various business processes, but it also improves overall performance and productivity.

One of the most appealing reasons to invest in an ERP system is the ease of automation and the convenience of integration, especially when it comes to accurate financial management. With a fair amount of uncertainty in the South African economic climate, business owners and decision makers are focusing more on instant gratification when it comes to financial information – constant, easily accessible, accurate, and up-to-date. The best way in which to achieve this is to invest in an ERP system that supports fully integrated financial information to provide accurate reports on sales, debtors, and available stock. Not only will this information help business owners keep track of their operations, but it will also help them identify weak points in their existing processes.

There is no denying the fact that stock checks are not an employee’s favourite exercise, especially after a busy day. However, accurate stock management is imperative to the success of a business. Without it, business owners are oblivious to the assets that are available, and to the risks involved with inaccurate stock management. When it comes to owning and efficiently managing a retail business, your stock is a safety net – if it is not management optimally, it can become detrimental.

Here are three ways to improve your stock control with you retail system:

When it comes to business transformation, software that can improve business processes and productivity should not be overlooked. ERP, or Enterprise Resource Planning, is one way in which to optimise the everyday organisational practices that can either make or break a business. In an effort to improve revenue and staff productivity, CEO’s the world over are turning to ERP.

From sales to in-depth information about your customers, a Point-Of-Sale (POS) system can revolutionise the way in which your retail business functions and thrives. However, before you can use it to your benefit, it is important to ensure that both you and your staff are fully acquainted with the software.

Finding the correct payroll solution for your organisation can improve your HR processes tenfold, and ensure that you maintain a healthy and satisfactory environment for HR practitioners and employees alike. Not only does reliable payroll software allow you to optimise operations, but it also gives you a better oversight of the costs to your company.

In the last five years, the South African retail industry has experienced a period of transformation. With a rise in online purchasing, the influx of multinational brands, and an increase in consumer trends, the local retail sector has had to work harder than ever to bring feet through the door. This transformation can also be attributed to the current economic climate; it would be naïve to dismiss the impact that the volatile Rand and devastating drought has had on the retail sector. With the VAT increase, weakening currency and the sluggish growth rate, retail companies are facing a rapidly increasing vertical.

Payroll technology improves considerably and accelerates various business functions through the automation of various tasks, faster processing of information, and software integration. Without it, HR specialists can get caught up in various low-value tasks that distract from strategy and efficiency. There is also the risk of high staff turnover and non-compliance which equally have negative, and sometime detrimental, effects on a business.