For growing small and medium sized businesses (SMBs), ensuring successful business management across all areas of your organisation can be a daunting task.

Growing SMBs typically have ambitious leaders at the helm that have made a conscious decision to embark upon a new growth trajectory. In this article we discuss three simple, but critical, top tips for leaders of growing SMBs.

1.    Select the right financial software

As a digital technology business, it is no surprise that our first business management tip for growing SMBs comes in the form of digital technology. It is common for SMBs to quickly outgrow their entry-level accounting solution or legacy ERP systems. Taking the next step with your financial software is vital for your organisation’s success.

Being predominately cloud-based, Microsoft solutions are the perfect option for your financial software as an SMB. Cloud solutions streamline your IT, by removing the need for servers while keeping capital expenditure down. Being cloud-based also means the solutions grow as your organisation does.

Dynamics 365 Business Central is Microsoft’s business application for SMBs. Business Central unifies ERP and CRM capabilities allowing you to run your entire business with intelligent applications that work seamlessly together in the cloud. Selecting the right financial software will empower your sales, service, finance and operations teams to work together to deliver results.

2.    Drive usage of common business processes

Many organisations, large and small, still use a multitude of paper-based processes to perform their tasks – consider job sheets or expenses reporting. While Covid-19 has resulted in the rapid digitisation of paper-based processes, it is critical for SMBs to drive the usage of their common business processes across all of their employees.

The implementation of simple, manageable and automated digital processes is an easy way to not only drive the usage and compliance of your key processes, but also to empower your people to do more. Automating manually intensive processes can help reduce the burden on available staff, allowing them to be reassigned for more strategic and value-add activities – something that can be key for SMBs who at times feel like they are operating without the required headcount.

Dynamics 365 Business Central allows organisations to accelerate their responsiveness and staff productivity using easy process automation. These tools are in-built into the system and easy to use. The out-of-the-box version of Business Central includes several preconfigured business management workflow templates, that you can copy to create workflows specific to your organisation.

3.    Listen to your data

Most organisations face the challenging task of managing ever-increasing quantities of data. Navigating and understanding this data can be daunting. However, for SMBs focused on growth, it is important that you not only have access to the information you need when you need it, but that your decisions are supported by data.

Having a tool in place which allows you to monitor performance in real-time is key. Dynamics 365 Business Central helps you make better decisions through embedded dashboards that provide actionable insights across your organisation. Business Central provides the ability to export data to Power BI to facilitate deeper analysis. Built-in reporting and AI helps to support better decision making, predict future outcomes and provides insight at the touch of a button.

One platform. Unlimited potential.

Dynamics 365 Business Central has the ability to form the heart of your organisation. We recognise the barriers to embarking on a transformational journey often centre around cost and time of execution. Incremental therefore offer rapid, robust and cost-effective core Business Central packages that do not compromise any stage of your digital transformation.

Dynamics 365 Business Central graphic

Our Dynamics 365 Business Central Core Packages concentrate on supporting your digital transformation journey in the areas where you need it most. Offering strong functionality across finance, sales, supply and manufacturing, our packages quickly equip your team with the knowledge to deliver an optimal solution based on out-of-the-box features.

Accelerate your digital transformation today, with a platform that will adapt and grow with you tomorrow – learn more now.