In business, Cash flow is as important and often more essential than profits. Maintaining cash flow is not easy in Dubai, especially during these COVID times. SAP Business One, a leading-edge Enterprise Resource Planning (ERP) system for the Small & Medium-Sized Enterprise (SME) segments, that allows you to consolidate data and automate relevant processes to ensure proper cash flow. Here are nine amazing ways how SAP Business One can help you improve cash flow in Dubai.
Get Invoices Out Faster :
In any traditional business management system in Dubai, we see a gap between products & service delivery and billing. When it comes to managing invoices, integrating your delivery & services to an ERP platform will allow you to invoice faster and hold people accountable for any related delays.
Detect Problem Accounts :
ERP will assist you in analysing the captured data and receivables more efficiently. SAP Business One reports enable you to figure out Customers who are persistently not paying on time. Timely action on these insights will improve cash flow.
Purchasing Just In Time And Planning For Projects :
Optimized purchasing will ensure that inventory is acquired just in time for delivery and cash is not tied up in inventory stuck in stock. This is critical for Projects – SAP allows you to plan your projects effectively.
Reporting Of Partial Fulfilment From Suppliers :
The ERP software solutions allows you to stay on top of the pending orders that are partially fulfilled. This information will help you to avoid project delays, keeping customers satisfied.
Automate Cash Flow Workflows :
ERP software allows automating most of the processes in an organization reducing employees’ workload. It will send reminders to the customers whose dues are pending based on a predefined set of rules. Automating such procedures will help an organization reduce human resources cost, reduce errors and improve the profitability of your organization.
Follow up Overdue Invoices :
With ERP software, you are enabled to do timely follow up of overdue invoices. With SAP Business One, all customer queries can be easily answered. The drill down option allows you access to any level of detail and easily find corresponding documents.
Real-time Reporting to assist Cash Flow :
SAP Business One allows real-time reports – this enables quick and timely decision making and streamlines work process. Cash flow status is known in real time – any misalignments or mishaps are notified immediately.
One of the new modalities of business involves subscription-based business – this involves periodic billing to customers and a similar system on the supplier / vendor side. Intelligent use of this methodology or feature can be used to improve cash flow. SAP supports this functionality.
Better Insight Into Cash Position :
With the aid of SAP Business One cash flow report, you can monitor current and future cash flows. ERP framework makes it easier for you to plan your future decisions faster. Insights from profitability analysis of customers, products and services allow you to redesign your offerings; review marketing strategies, customer credit limits, payment terms and discounts and more helping you improve cash flow situation.