Enterprise Resource Planning gives one an integrated view of your business processes. With our core business process now linked together in real-time, everything is in one place, making life a whole lot easier. This connection is made possible through the use of common databases maintained by a management system. Whether your business has been operational for decades or you run a start-up, whether you are in the manufacturing sector or the hospitality sector, all businesses have their own kind of processes that an ERP tool can work its magic on.
So now, let us throw some light on why you should choose an Enterprise Resource Planning system.
With the sales team on the 6th floor and accounts team on the 2nd floor, isn’t it just easier if the transactions made by one are easily visible on the screen the very next second, rather than the countless number of phone calls or the dreadful flight of stairs? With an ERP software in place, different departments can now work together more easily and efficiently.
Presently, your business might have 2 suppliers they need to pay on a weekly basis, and perhaps 2 products you offer to 5 clients, from whom you receive a monthly income. But what happens when these numbers grow exponentially? Inventory management, monitoring receivables, payables, and tracking the actual delivery of the products, blended together, spells nothing but chaos. And an Enterprise Resource Planning tool is the way out.
When you see your employees no longer buried in a pile of paperwork or pouncing around doing mundane, tedious, and exhausting tasks, you know getting a cloud based ERP software has paid well. Your employees will now be able to concentrate on better tasks, such as, perhaps successfully closing that million-dollar deal?
An Enterprise Resource Planning tool ensures all the data entered by anyone is successfully stored. And what does data help with? Analysis! When your entire business is in one place, all linked, it will be easier for you to monitor. This becomes a business intelligence tool, which can present you with a big picture of your firm, show key areas, identify weak performing areas, etc. This type of analysis would probably take a couple of days without an ERP system in place. The ERP software can generate various kinds of reports for essential decision making, such as hiring, firing, or completely shutting down a department.
Understanding your client’s needs and wants and then giving them exactly that is the right way in, in any business. Most of the ERP systems, these days, are equipped with a customer relationship management (CRM) software, or can be easily connected to one. The CRM tool will be able to look into your clients, their personal details, transaction history, and payment history and give you a better overview of your clients. Know more about your clients this way and build a better relationship with them through an Enterprise Resource Planning.
Yes, you would have to incur some initial costs and precious time in order to get the ERP system up and running, but trust us when we say, it is all worth it. There are quite a few options in the market when it comes to cloud based ERP software. So, make sure you first figure out your exact needs, do some homework, and explore the various ERP tools, assess them critically against a set of criteria, and then make the right pick. Once you have made a choice, use the Enterprise Resource Planning tool to its maximum potential and if possible, set KPIs or goals that you would like to achieve and continuously monitor the same.