When it comes to a shared challenge that every business faces, we will think of the constant pressure to thrive in an increasingly competitive and globalised market. In response to this scenario, the business owner must raise their revenue, and boost their profits whilst lowering their cost if they want to run their firm with flying colours. The sound solution for any company regardless of size lies in its digital transformation journey, where ERP systems should be at the core of a business’s consideration. This article will provide a closer look at three powerful advantages of ERP software to your business.
#1 ERP Systems Eliminate Wasteful Spending by Improving Operational Visibility
It is easier said than done to deliver a project on schedule, within budget and profitably. For example, extensive IT projects typically offer 56% less value than anticipated while running 45% over budget and 7% behind schedule (Mckinsey). These delays may result from poor prioritisation, over/understaffing or a lack of actionable milestones.
In fact, these problems can be solved with the right use of tools and technology – the aforementioned ERP software. To achieve complete control and visibility over a company’s activities, the ERP system focuses on enabling your company to analyse historical and current data at any time with accurate, up-to-date, and comprehensive information available in every single aspect and department of your business. ERP system’s compilation of real-time data allows you to spot issues before it gets worse, and be active in addressing solutions while empowering your decision-making process with an unrivaled level of business insights.
Data is gold. But this most critical resource is usually allocated in separate silos which is a waste. Such ERP software as Cloud ERP eradicates these data silos and integrates data generated across your organisation. As a result, you can track operational KPIs and produce real-time insights. This also keeps everyone on the same page and reduces the chances of leaders getting conflicting information. In this manner, you make better business judgments which save excessive expenditures on a project.
#2 ERP Systems Standardise Business Processes
Establishing standard practices consistently across your business is imperative to boost profitability. However, achieving this uniformity can appear unattainable because each team and department has its own procedures and practices. Fortunately, an ERP system will take care of that hard work.
With an ERP system, you can standardise your business’s processes by such activities as defining a uniform procedure for customer successors to respond to inquiries, for marketing executives to mine data in CRM software, or for salesmen to do product demos.
#3 ERP Software Enhances Customer Experience
“A satisfied customer is a returning one.”
Thanks to its artificial intelligence and its analytical capabilities, an ERP system can enhance the whole client experience in countless ways. For example, by maintaining a transparent and efficient supply chain across your business, your clients will benefit from improved communication, thorough order tracking, quicker delivery, shorter service times, etc.
Moreover, with easier access to the appropriate information, your staff can forge better relations and make more precise communication with your customers. Above all, the customer-centric marketing strategies will be 10 times more effective with better management of historical customer data that reveals purchasing patterns.
Data-driven decision-making is essential for enhancing client relationships and retention. And, ERP software’s tools make this feasible. Always keep in mind that acquiring new customers is always more expensive than retaining the existing ones.
Choosing the Right ERP Service Provider
Now that you are aware of ERP solutions’ extensive impacts on your business, choosing the right ERP system is another notable thing. Here at Synergix Technologies, we support companies like yours in their pursuit of increased profitability, efficiency, and performance.
With 32+ years of expertise, Synergix offers you the experience of a customisable fully-integrated ERP system with the funding of up to 70% of the qualifying cost from Singapore government’s grants.
Interested in a free Synergix ERP demo? Please feel free to contact us.