Enterprise Resource Planning (ERP) software can transform a business and its way of working. A comprehensive ERP system can significantly reduce a business’ financial and time inefficiencies by introducing smooth and effective processes. It does this by giving a business control over everything they need, all in one place. This powerful software controls: stock at various sites, finances, CRM, order processing, promotions, supply chain management, purchase orders, reording tools and supplier management. Having this control in one system enables a business to be proactive not reactive. This blog will identify exactly how an ERP software can help your business succeed.
First a little background. ERP software has been around since the 1990s. Solutions prior to this were traditionally focused on a single business challenge rather than addressing the myriad functions within a business. That’s where ERP software system came in; to offer one package that covers all aspects of a business, affording business owners control without the need to manage multiple systems simultaneously.
How an ERP system can help:
Don’t waste time, save it!
Managing all core business functions in one package allows you to log in and monitor your business directly from your computer. ERP systems will have dashboards and evaluation screens so that you can quickly see how your business is running, whether you’re meeting your margins and if there are any problems that need addressing. Without an ERP system, you may spend hours trawling through spreadsheets or checking different software to understand how your business is functioning. An ERP system, in turn, frees up time to put back into your business, giving you more time to innovate and create, instead of running around putting out fires whenever they arise.
ERP solutions provide the opportunity to automate many of your processes – instead of manually processing aspects of your business, automations take the tedious tasks off your hands and complete them in the background for you. A task such as data entry has a high risk of human error; even one digit out of place could skew the statistics and analytics you use to measure business performance. A common undertaking by most businesses is a stock take/sync, which is an example of manual data entry. When an employee goes to manually count and check all of your stock, they can miscount stock or make a mistake, especially when counting large numbers.
A small mistake can lead to a big issue and can reduce effectiveness as a business wastes more time recounting the stock to fix the error. With an ERP system, all stock is automatically counted and updated, thus removing the need for manual stock takes as stock numbers will always be updated. This removes manual processes such as stock takes, therefore streamlining your business as a result, so you can become more effective, credible and powerful.
Got more questions on stock control within an ERP system? Click here for more info.
Decisions made easy
We touched on dashboards earlier in the blog but didn’t discuss their weighty benefits. Dashboard screens can give you all the important stats that you will need to make decisions. You can see if you’re making money and meeting margins, if you’re as effective and time efficient as you could be and the visibility provided by a dashboard also aids in evaluating important KPIs and areas for growth. If we take the example of order processing, a dashboard allows you to, at a glance, see which orders your team has processed so far, which stages of the pick, pack and despatch cycle they are in, and how much stock you were able to allocate to each one. All this information, at your fingertips, ensures you can make informed decisions based on facts and not guess work. This dashboard will also power your business growth by giving you real time data on your business.
Get with the times
In 2014, 57% of businesses with between 250 and 999 employees used an ERP system for their business. That means 57% of businesses are running more effectively, saving costs and time compared to those without this solution. The figure in fact may even be higher now, with around 600,000 new businesses being forged every year. Having an up to date package to run your business can ensure you are always ahead of the curve, and may instil customer confidence in your brand.
This blog demonstrates the positive impact an ERP system can have on a business. We have our own ERP application, a cloud-based system called Khaos Control Cloud, which offers everything mentioned in this blog. It can speed up your processes, save money and ensure you make fewer business mistakes. Khaos Control Cloud is also mobile friendly, so you can access your business from anywhere with an internet connection. Interested? Get your first 30 days here.