Running a successful enterprise is about many different processes working in unison. You have to monitor inventory, take part in bookkeeping, ensure customers’ and workers’ satisfaction, and focus on manufacturing. Enterprise resource planning software, also known as ERP, incorporates all of these into a single centralized location, which provides access to those systems and the information they produce in real-time. If you are not using ERP software, you are missing out on several big benefits of this real-time information. Here are five benefits that you can begin to leverage by combining your business practices with ERP software.
1: Real-Time Data Streamlines Workflow
Are there areas of your business that you are not closely connected to? ERP software allows you access to data about all aspects of your business in real-time. This enables you to streamline the workflow at every stage of the process. From monitoring inventory to dealing with accounting or human resources issues, everything falls under the same umbrella. If you find a hang-up in growth or discover that your sales team is losing it, you can find inefficiencies, rectify them, and improve your overall performance.
2: Improved Order Tracking
Do you have the required information when you are called by a customer who wants to know where his order is? ERP software enables you to easily find an order so that you can give your customer information about its location. This, in turn, enables you to provide accurate predictions of delivery, meaning customers are never left wondering where their products are in the manufacturing and shipping phase.
3: Automated Profit Tracking
Estimating sales margins and profit ratios is difficult for a rising business. These reports are made readily available by the correct ERP system when synchronizing them to make it easier for you to determine metrics. With automated profit monitoring and reports, you can see places that need to be changed before they have the capacity to hurt your profit margins.
4: Prompt Customer Support
What happens when you tell a customer that you have an item in stock or that you can provide service within a set time span, only to find that you can’t? Inaccuracy affects customer support and overall brand opinion. Real-time ERP data prevents certain forms of errors from being committed, and you can see what’s available at the time of sale. This helps improve customer service and overall customer experience, which preserves your image in the eyes of your target audience.
5: Removal Of Redundancies
You can find that employees enter the same data several times as the company expands, which leads to loss of productivity and time management issues. When you have an ERP program, this dilemma is avoided. Both databases are connected, and employees can see if data that has already been registered is being entered. If a redundancy exists, the system will mark it so that you can erase it. This improves accuracy by fixing outdated data entries and eliminates time wasted.
The points mentioned above are only a few of the benefits of ERP software and the real-time data it provides. It’s time for businesses to exploit these benefits to make competitive gains.