Deciding which technologies your business should and should not invest in is hard. On one hand, you want to be responsible for innovation and growth within your company. Though you do not wish to become the only one to pull the trigger on a failed project. So, is an ERP software investment worth the risk? To find out, you need to know the benefits of using ERP Software as stated by ADS infographic.
What is Enterprise Resource Planning (ERP) Software?
Enterprise resource planning (ERP) is a process used by companies to manage and integrate the important parts of their businesses. Many ERP software applications are important to companies because they help them implement resource planning by integrating all of the processes needed to run their companies with a single system. An ERP software system can also integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more.
Benefits of ERP Software
1. Increased Productivity
One key benefit of ERP software is automation, ranging from invoice generation to marketing automation. This frees up employee’s time to be more productive in other areas and ensures important processes don’t get overlooked.
Further, by having one central repository accessible by all departments, an ERP removes the need for tedious manual processes such as repetitive data entry across multiple systems. The accuracy of your data will also improve too!
2. Improved Collaboration
ERP systems also connect teams, improving communication as well as employee engagement. With an ERP process, every approved employee has on-demand access to operational data, allowing them to understand all of the company’s moving parts and the role they play. Reduced silos and real-time project updates further help the effectiveness which results in smoother workflows and also cost savings.
Collaboration capabilities also extend outside the four walls of an organization to connect with key trading partners and further progress business benefits.
3. Flexibility and Scalability
Another inherent benefit of ERP software is driven by its modular structure which allows adjusting its scale based on present conditions and needs. Because of this particular feature, a resource planning system easily adapts to the reduction or expansion of the organization on each level.
Even the most trivial changes in the company structure and operation, such as the appearance of new products, workers, production facilities, suppliers, departments, etc. demand high flexibility of ERP solutions. Whether the growth involves production increase, inventory extension, addition of new functions, services or users, ERP systems can handle all these changes and much more.
4. Improved customer service
When customer service reps obtain comprehensive customer information like billing, order history, shipping, item fill rates and prior problems all in one portal, they are able to fulfill your customers’ needs faster.
ERP tools can be programmed to ensure that a user views probably the most pertinent information on their customized dashboard first (e.g., customer-related data compared to the whole system’s daily data), making it so easy to access the information they need. ERP software furthermore integrates seamlessly with many sales and CRM systems to offer a 360 degree, big-picture view of a customer relationship.
5. Easier Reporting and Planning
An ERP suite usually means a single unified reporting system. Accurate, real-time data can be generated and shared without the intervention of an IT expert. Employees are able to produce reports, establish difficulties, and offer immediate solutions. Interdepartmental databases are tailored to enable the integration of information for easy access.
Companies are able to plan ahead of time with easy interdepartmental communication.
We have shown you the benefits of ERP software and provided advice to help with choosing the best option for you.
Amenorhu kwaku is an author, internet marketer, and entrepreneur. He is the founder of SuccessValley, a network community for students and aspiring entrepreneurs. He is also the founder of Republik City News and Whoop, a news portal and a business directory.
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