Enterprise resource planning (ERP) software as we know improves business operations productivity. Here are some of the way that an ERP can help your business.
Report Generation & real-time information
Accurate information is highly needed for reviewing a company’s financial performance. All the numbers from different departments, inclusive of revenue, salaries, sales, expenses etc will be needed to generate a report to analyze the company’s overall performance.
Getting these numbers to be accurate and sync across all departments is essential to make the report as accurate as possible. Rather than having multiple software with data have to be transferred between departments, a central database to store all transaction information will be more efficient. In a way, this will allow data to be instantly retrieved and available down to the most specific search.
Automating Administrative tasks
Imagine doing quotes and invoices on paper, or just on an excel sheet. You probably got to look up, on all the costing from a cost sheet and once the quote is done up in excel, you will have to convert it through a 3rd party software into PDF or any other format which you will then present to your clients.
ERP system thrives on automation, all these steps taken to reach the point of setting up an invoice can be heavily automated by making all these gaps where you have to take your eyes off the main excel off auto. In an example, cost sheets are already inputted and tagged to any product in your catalog. So when you are doing a quotation, after inputting a product entry, you will see the all relevant information tied to that product. Saving u the time to manually look for it.
All your business operations will have multiple gaps that require you to source for information or gaps that prolong the time needed to fulfill a task. This is the part where the ERP system streamlines your operation to improve productivity.
Multitude of functionalities through customization
Functions & features like automatically emailing customers on invoices, creating sales order where inventory will automatically be allocated. Tracking and monitor receivables with automatic notifications, etc. All these are functions that good ERP systems usually have. But in the current market context, many systems are out-of-the-box and standardized. In order to ensure the investment you made will truly help, you need to understand if an out-of-the-box solution will be a good fit or not. It’s these business operation priorities and unique workflow that will create operating gaps that make users feel that the ERP system is not optimized for their business operations. This can be countered when the company communicate their operations to ERP vendors and get a demo based on their own workflow while making sure customization are made to optimize the software for the business.