What can a modern ERP System do for your business – Part II
In Part 1 of our post, we talked about the indicators that signal a change may be the right move for your business. In this installment we will review some compelling reasons to adopt a modern ERP system.
GAIN THE CAPACITY AND FLEXIBILITY TO GROW YOUR BUSINESS.
Every company’s mandate to grow is of paramount importance. This means keeping up with evolving market conditions by ensuring that your business is agile, responsive, and connected. Today’s enterprise management solutions integrate and streamline your departments, networks, people, devices, and business processes—enabling you to unlock the potential of the digital economy, innovate and deliver new experiences and value to customers.
The capacity for growth and innovation require business management solutions that:
- Deliver business agility, providing the flexibility to take advantage of new technologies, data sources, and business models.
- Facilitate increases in capacity, implement new processes, and support additional sites and business units.
- Provide flexible, customizable configuration specific to the unique needs of your industry and business.
- Support financial reporting and compliance needs in an ever-changing regulatory climate.
- Are flexible and extensible enough to take advantage of new technologies: IoT, machine learning, blockchain, artificial intelligence, and whatever tomorrow will bring.
DRIVE OPERATIONAL EFFICIENCIES
One significant characteristic of a modern ERP system is that it integrates both processes and data. A second characteristic is the result of the first – because processes are connected, substantially greater automation is possible.
When management tools are not integrated across business functions, both processes and data are siloed. This results in a lack of coordination and insight into your operations which has numerous negative impacts:
- Handoffs between people and processes can be disjointed
- Data access requires manual intervention and workarounds
- Collaboration across geographically distributed teams, both internally and with business partners is impeded
- Delivering a great customer experience is challenging
- Opportunities for automation are minimal
A modern ERP delivers a single system that connects all those people, processes, and data, that will allow you to:
- Streamline your operations with end-to-end integration of your business processes
- Automate processes to gain efficiencies and its corollary, minimize manual processes which can lead to costly errors, delays and frustrate customer and trading partners
- Easily access real-time information from one consolidated source
- Manage core business processes from one place
- Accelerate collaboration among locations
MAKE BETTER-INFORMED DECISIONS
It’s critical to have your decision-making supported by relevant and timely data and actionable insights. The right enterprise management solution provides real-time business intelligence reporting for executives, managers, and leaders to see what’s going on across their businesses. Built-in analytics provide deeper insight into operations while accelerating communications, and decision-making. Your solution should include:
- Integration across all departments, providing data that is a single source of truth.
- Real-time monitoring of performance and costs, order and inventory status and other key business indicators.
- Actionable data intelligence for forecasting and decision-support.
- Robust reporting capabilities with the flexibility to deliver customizations when needed.
In our final installment, we will talk about minimizing IT complexity and reducing cost, stay tuned or contact us today for more information.