Listed below are top 10 ERP benefits that your business will acquire if you manage to execute the system seamlessly.
Since late 1980s, ERP System, or Enterprise Resource Planning, serves as a double-edged sword to businesses, companies, and corporations. If all the internal and external issues, problems, rivalries, politics, goals and objectives are addressed before the ERP implementation, the company will empathically enjoy its utmost benefit. On the one hand, if there are errors and mistakes before and during the implementation of ERP, the company will either gain no profit or will face a business shutdown.
Top 10: Integration of All Business Processes. ERP system is built to integrate both internal and external management operations across the entire organization. Also, the system will embrace financing and accounting departments as well as outgoing sales and services. On top of that, managing the customer relations is also covered in ERP system.
Top 9: Better Planning. ERP system grants the manager or owner a chance to manage all business and management operations under a single database. As a result, they can plan better and make solutions ahead.
Top 8: Errors in Bill of Materials Will Be Reduced. ERP system is fully customizable, so you can arrange sales information like bill of materials inside the system. This will lead to minimizing errors related to BOM.
Top 7: Improved Business Practices. Upon the implementation of the system, one of the top 10 ERP benefits is that your organization will have the chance to evaluate certain issues like target markets, customer satisfaction, and marketing solutions. Therefore, ERP system will enhance the over-all business practices.
Top 6: Secured Business Information. ERP system and all your business information will be safe because it is protected and backed up under a single database.
Top 5: Enhanced Cash Flow Planning and Management. Once the ERP system is implemented, the manager or owner can monitor all the incoming profit and outgoing expenditures. Also, they can plan on how the cash flow can be enhanced if they detect a glitch or problem in one sector of their sales department.
Top 4: Errors In Business Operation Will Be Reduced By 70%. Research shows that those companies who are implementing ERP system in their organization experienced facing fewer errors in their whole management and business operation.
Top 3: Guaranteed Inventory Optimization. The aforementioned better planning benefit brought by ERP system will also result to inventory optimization by 20% or more!
Top 2: Optimized and More Cohesive Workforce. ERP system can also evaluate the organization’s workforce. It includes inter and intra relationships of various departments as well as Key Performance Measures.
Top 1: More Satisfied Customers, Higher ROI. With the help of ERP systems, you will achieve the highest goal of every business: more loyal customers that yield to higher return of investment.
These Top 10 ERP benefits will surely aid you in your business venture.