There is one fundamental factor that improves productivity, regardless of whether we are discussing business management, urbanisation, or any other domain: connectivity.
Connectivity is perhaps the biggest value the Enterprise Resource Planning (ERP) will bring to your organisation. One of the most important features of ERP is that it stores all information in one place, thus streamlining business processes. You can think of it as analogous to a sophisticated subway network that boosts productivity and leaves users satisfied with the commute. Below, you will find 5 reasons why implementing ERP in your business is going to pay off long-term.
Enhanced Customer Service
With the online opinions and reviews being more important than ever, it is salient for the prosperity of your business to effectively address customers’ needs and nurture the relationship with them. Usually, ERPs tools include CRM– customer relationship management. It enables you to provide your customers with tailored care, and effortlessly handle them with a broad spectrum of real-time data.
As customer information is centralised and easily accessible, the clients’ needs and requests can be approached adequately. A shared interface in all modules of the software and ease in the data input allows your employees to move their focus to establishing and maintaining relations with customers, instead of performing mechanical, time-consuming tasks.
Lower Costs
This argument in favour of using an ERP may seem counterintuitive at first. The software is widely believed to be a substantial investment. However, multiple IT systems that are bound to be substituted with a single ERP are not free either. Additionally, using each one of them requires dedicated staff, time, and resources for their training, as well as infrastructure.
With ERP, training employees takes significantly less time, which can be then used directly for profit-generating activities. Furthermore, the system is designed to maximise the efficiency of data input and operations in general.
Finally, the modular structure of ERP allows you to choose only the features that are most needed in the management of your company. Therefore, there is no reason to fear that the purchased product will not be utilised.
Transparency and Improved Collaboration
In an ERP like NetSuite, there is a common, easily accessible database. This can benefit your enterprise in multiple ways: First, different departments cease to be isolated from each other. Information is kept in common space, not in silos as before. As a result, inter-departmental actions are less of a hassle and it's easier to monitor them. Also, there is more room for insights coming from all branches of your company, and such improved creativity will be critical for introducing new solutions.
Because of the high accessibility- instant access to relevant dashboards, reports, etc., errors due to misinformation are simpler to avoid. Effectively, human error is neutralised. Furthermore, your staff feels that you’re granting them a higher degree of trust. They can see ‘The big picture’, not being limited to data kept by their own department. All in all, when it comes to transparency and collaboration in your business, implementing ERP results in enhanced efficiency and higher staff engagement.
Data Security
If you are a business owner, you should perceive it as crucial that the insider information of your enterprises is stored safely, so you are not susceptible to data breaches and frauds. Netsuite and other ERPs assure the security of your company at least regarding databases.
Although there is an earlier mention of the high accessibility, a centralised database means that you can strictly control who may and may not see any of the information. The unified storage also ensures that data can be only accessed in one way- through the system. This means that there can be no situation where some sensitive information is well taken care of, while others, because of negligence, are exposed, therefore posing a threat to your prosperity.
Finally, vendors often undertake additional security measures like firewalls and hiring security experts. This is especially important when it comes to cloud-based ERPs: the fully virtual location of your resources also proves beneficial for their security.
Eliminating ‘growing pains’
Sometimes, an organisation desperately needs an ERP. Sometimes, it is not so urgent. But regardless of the size of your company, you could compare it to buying a 13-year old an adult-sized jacket. Is it going to be a little too big? Probably. Will it do any harm to them? Most definitely not. But they will be then left with a product they can use as long as they wish (Given that they will not put on weight), instead of making decisions under time pressure and exposing themselves to all obstacles associated with growth.
Each decision of expansion poses a significant risk of errors. Possessing an ERP not only saves you from many threats on your path but also allows you to take advantage of growth to the fullest, thus ensuring a substantial development of your company.
Interested in learning about particular ERP systems and the idea behind ERP in general?
