Fed-up of manually drawing information from silos of data?
Wasting valuable time in sorting duplicate information?
Spending critical resources on performing basic data analysis that turns out to be inaccurate and error-prone?
Uninterrupted and controlled access to relevant data today is not just a need for businesses, but something that cannot be compromised. Yet many businesses consciously continue to be paralyzed by this affliction. Their old school tradition of keeping information in different formats and disparate systems moves on like a legacy, eating up their time and money.
Enter Enterprise Resource Planning (ERP) that aims to provide companies with consistent and accurate data across all systems and departments. It shuns the need of maintaining multiple spreadsheets by integrating all the processes onboard, enhancing communication among different departments. Interdepartmental processes get aligned because the data is captured only once and stored centrally, making it precise, reliable and real time. This reduces duplicity and eliminates mistakes that cost them margins and profits.
Statistics prove that an ERP ensures 63% of reduced duplication and time. Here’s how:
Automation reduces duplication
The ultimate objective of any organization is profit maximization, which can be accomplished by reducing overall costs. Reduction in costs can be achieved by streamlining tasks and by removing blockages created due to delay in information sharing between employees or departments. Moreover, with business processes today being operational across multiple business locations, redundancy in data and information is bound to happen. One of the biggest advantages of ERP is prevention from this duplication of data. With an ERP, the business processes can be easily centralized, standardized and automated. Automated processes accomplished with an ERP are driven from a single database that eliminates discrepancies in the interdepartmental data exchange and sharing across locations. Thereby saving time, reducing losses and rework and thus, maximizing profits.
Smart processes save time
Data collection, sorting, and analysis is undoubtedly a time-consuming task if done manually. Whereas an ERP collects data from different sources like sales records, inventories, vendors, marketing, customer service, production, and quality departments, and stores in a common database. On studying these data sets individually, you cannot visualize the complete picture of consumer trends and preferences. You need an ERP to have a comprehensive insight into it. The ERP generates numerous reports that help in in-depth yet faster analysis. Moreover, it also provides real-time data resulting in better and accurate decision making, which can be deployed for smart marketing techniques and right pricing.
Wastage is cut down to minimum
Because the data is available from a single-point source, the production, and procurement planning is based only on the current demand and supply figures. This abolishes the situations of over-stock, understock, last-minute expensive purchases, scrap, and production halts. Even the production takes place through an automatic batch generation that utilizes a complete resource and labor capacity with an interim quality check to avoid any chances of rejection and reprocessing. This enhances productivity, cuts down on wastage, and reduces the cost of production, too.
The purpose of an ERP is simple: To reduce the complexities of a business by facilitating free and faster flow of information. Data at different places, different systems, or with different people is bound to be different. But, by using an ERP, you can ensure a single point of entry and control of data, no duplicity, and reduced bookkeeping time and errors. This, in turn, ensures streamlined business processes, minimized wastage, more time for growth-related operations, and increased profitability.