14 Oct 4 transformative advantages of ERP technology
The advantages of investing in an ERP technology solution have been well-documented, with specific benefits including the optimisation of business processes, the reduction of time and costs of litigation, and improved customer service, to name but a few.
However, the technology has wider-reaching, transformative qualities, if you take full advantage of your chosen piece of software. Virtual Strategy Magazine explains how you can start to make the most of an ERP:
1. Reconfigure your staff and budgets
The idea of having to manually organise and arrange data is the stuff of nightmares for most people. The amount of man hours, IT resources and budgetary spending required to ensure timely access to reliable information makes manual data handling a nightmare for enterprises, too. ERP automates the whole thing, allowing firms to redirect their staff and budget to a task that can potentially give them a completive advantage.
2. Maximise your sales and revenue
That brings us on nicely to the next gain to be had from ERP technology: higher profits. ERP seeks to optimise the order-to-cash process, thus eliminating inefficiencies, leading to smarter forecasting. Plus, as we’ve already alluded to, ERP automates some of the most time and labour-intensive aspects of the CRM process, giving staff greater licence to concentrate on making your business money.
3. Improve your strategic planning
By synthesising and streamlining data – making data actionable – ERP eliminates the reliance on guesswork in strategic planning. ERP software draws data from every single department, giving you true top-down perspective and allowing you to make effective, impactful decisions about the next steps your business should take.
4. Improve your company culture
What makes ERP technology truly transformative it its ability to break down departmental silos, providing a platform for teams to work collaboratively, sharing data and ideas for the greater good of the enterprise. When everyone feels like an equal contributor and stakeholder, there is a positive atmosphere throughout the company, which offers as many tangible advantages as it does imperceptible gains.
The key to being able to take advantage of an ERP solution, however, is ensuring it is fully optimised for your business. Not just from a technology perspective but from the perspective of your people, your business process and your culture. Without a holistic approach to ERP implementation, there is a danger it will never be fully optimised and the additional value the organisation anticipated will forever remain elusive.
To learn more about ERP optimisation, healthchecks, benchmark analysis and road mapping please contact e-Resolve.