Increasing Business Efficiency with Technology: How Can ERP Software Benefit Businesses?
Growing a business in the modern age takes more than initiative. The ever-changing technological landscape presents new challenges to businesses, as well as new solutions for solving them. If you are an established business with a growth problem, issues could just as well be internal as external, with efficiency being a key metric for success. But what is the best way to improve efficiency – and why is it ERP software?
ERP stands for Enterprise Resource Planning, and describes the processes by which different parts of a business are interrelated. ERP software is best thought of as a nervous system, through which projects and routines can be holistically managed. In brief, ERP software is the solution to inefficient communication, redundant workplace processes, and frustrated delivery pipelines. The exact benefits of integrating ERP software in your business can be discovered below.
Reducing Administrative Costs
The foremost benefits of ERP software are the cost-saving possibilities. ERP software eliminates the need for different departments to supervise different local iterations of the same information. Important cross-departmental data, such as sales information, wholesale prices or technical specifications, can be held in a centralised location. Altering data becomes a single event, as opposed to a chain process; the employee-hour savings are considerable.
Accurate Data
Not only does centrally hosting important information save administrative costs through removing redundancy, but also through the refining of data processing and accuracy. With disparate documents, processes and reporting, mistakes are much easier to make and much harder to find. Centralising data considerably reduces the possibility of error, resulting in more accurate reports and better decision-making overall.
Automation of Processes
ERP software is not simply a high-specification joint-access intranet folder, though. The capabilities of ERP are vast, including process automation – which could have a significant impact on your business’ workload distribution. By automating data entry and delivery processes, human error is eliminated; automation algorithms scrape the relevant details direct from source material, increasing accuracy. Delivery processes are streamlined, with faster entry and no hold-ups due to staff priority or absence. Lastly, data safety is maintained, ensuring confidential information is kept confidential.
Better Collaboration
The biggest tangible benefit to employees can be found in the way departments can collaborate and communicate. Without ERP, it is likely that different departments have different workflows, and different tools entirely, to achieve their portion of work on a given project – making collaboration a difficult process for those with different workflows. With ERP, departments can find it easier to share information and collaborate, vastly improving lead times and quality of work.
Improved Customer Experiences
All of the above work together, to improve the end experience for the customer. Customer support is made easier by access to a centralised network of information, and a collaboratively drafted pipeline for each client or project. With ERP software, projects are easier to manage and easier to report on, making the process holistically smoother and improving communication with customers.
