Why Businesses Across Industries Need an ERP
Technology advancement and liberalised economies have brought upon a new era in which businesses expanded and grew rapidly which brought on a need for robust and automated solutions to equal the speed of growth and expansion.
An Enterprise Resource Planning solution or ERP streamlines workflows, automates internal processes, speeds up operations and provides a 360-degree view of the entire business. Solutions like SAP Business One also reduce dependency on a specific individual in business and easily tracks statuses and progress.
Below are key areas that businesses can benefit from an ERP
1. Streamlined Processes
Streamline the processes and workflow with an ERP solution in place. You can now make sure that all the processes involved in every department are well documented and follow thoroughly with the new ERP solution. You have the opportunity to improve the workflow and make changes to adapt to the new business environment.
ERP solution removes the need for manual work which also reduces error and increases the accuracy of data. Companies need not rely on manual data entry which is prone to mistakes and at times might result in inaccurate data and reporting.
3. Integration with other software
Some legacy business systems functions as a silo and are not integrated with each other. Different departments would have their own way of maintaining records and exchanging data. All these different silos of information require a lot of man hours to collate and analyse. ERP solution such as SAP Business One shares the same information across different departments, which improves collaboration of information.
4. Data Integrity & Security
Data integrity and security is important to ensure that there is correct information before it is used for further analysis. Data that is stored manually and entered manually, and handled by different individuals before being used by the management for decision making. Data integrity and security can be easily compromised because there is open access to anyone. With ERP solutions, there is a level of security access for specific information and this ensures that only the right people access the information. Because of the high-security handling of information, the data used for analysis and reporting is of better integrity and likelihood with higher accuracy.
5. Operational Efficiency
Businesses usually associate adding on additional manpower to increased efficiency, because they may require additional people to perform additional data entry when business picks up. ERP solutions can help minimise the need for additional manual labour because there will operational efficiency in the way data is handled and managed. There will be less need for manual intervention when the initial data is entered in.
6. Customer Service
An ERP solution also means that data is kept securely in one location, which can be accessed by approved staff to get their job done smoothly. An example would be the customer service team who can easily access information on a customer’s pending order and provide precise information to the customer without delay. An outdoor salesperson can also instantly check stock levels without the need to make phone calls or speak to an internal team to get the information.
7. Control, Monitoring & Analysis
Having an ERP solution would also mean better control and monitoring on the use of specific functions. In this way, the salesperson using the same solution will not have access to the entire finance functions. Similarly, the finance person would only have access to functions that are required to get the job done. This means that there is overall better control. Having all information in one place also means that the analysis and reporting can be easily achieved within the same solution.
if you are keen to start your ERP journey, do contact us.