The Importance of Having Real-Time Information for Your Business

WHAT IS REAL-TIME INFORMATION?

Real-time information refers to the data that is viewable at the moment it is required. This data is usually passed on to the end-user as rapidly as it is collected without any delay. That is why this type of data is useful for all kinds of business analytics plans and can keep people informed real-time.

Below, we will be talking about the 3 significant benefits of having real-time information in an organization.

1. Make Better Business Decision

Making rational business decisions at an organizational level is definitely not an easy task, especially during crucial situations. Decision-makers must quickly gather relevant information from each department and gain prompt insight into them. Data provided in real-time gives the most accurate updates of general key performance indicators, clarifies superior performances and indicates insufficiencies throughout the company which will aid in the decision-making process. Thanks to that, companies can now avoid suffering from loses due to outdated data or data which were not able to be obtained immediately.

2. Ensure Operational Efficiency

Real-time information also enhances productivity and efficiency in a company. Take the distribution field as an example of this circumstance. Companies operating in this sector usually have to handle and process a humongous amount of information each day, such as the purchasing orders, sales quotation, delivery order and more. Hence, this is when real-time information comes in useful in order for projects managers to keep pace with all the orders and delivery. Otherwise, the internal operational process can be in chaos and disorder.

3. Improve Customer Service

We are sure that many of us, at some points of our lives, have encountered a long waiting time during a call with a customer service representative. Nobody likes it, right?

Besides the two aspects mentioned above, real-time data is also making positive impacts on customer service. When a call comes in, the priority is always to provide the caller with a satisfying answer after fulling understanding their concerns or issues. With a real-time dashboard, the customer service representative will be able to track vital customer information at their fingertips, which will lead to better customer interactions, greater customer satisfaction and a higher reputation for the company.

SUMMARY

Since real-time information is proved to be beneficial in various aspects, business owners are now more willing to invest in technological software such as ERP software. This software does not only integrate all parts of a company into one single unified database, but it also provides real-time information from different departments such as sales, accounting, inventory, human resource, etc, as the data can be automatically updated and processed under the ERP umbrella. Both business owners and employees can share this database to access to real-time information any time via the cloud-based platform of the system.

With almost 30 years of experience in the industry, Synergix Technologies is proud to be the leading ERP software provider in Singapore. Having a variety of modules and possessing the ability to do heavy customization based on each company’s most specific requirements, we are trusted by hundreds of business organizations not only in Singapore but across South East Asia too. If your company has a plan to implement an ERP system, feel free to reach out to us as Synergix Technologies has been recognized by IMDA as a pre-approved vendor for the Productivity Solutions Grant. This Government Grants will allow eligible companies to receive financial support of up to 70% from Singapore’s government to keep their cost affordable.