Top 15 benefits of implementing ERP software

There are many advantages to implementing an Enterprise Resource Planning (ERP) software solution. Among countless other advantages, implementing ERP software can improve productivity, increase efficiencies, decrease costs and streamline processes. Let’s look at 15 of the most common benefits of an ERP system that companies have reported after implementation.

1.       Competition. It’s true that ERP software requires a major investment, but there’s also an even bigger cost in not making the investment. While some companies choose to stick to the tried and true methods of the past, others seek technology solutions.  Companies cannot afford to put off an ERP implementation while their competition invests in ERP and starts reaping the many benefits we’ll touch on below.

2.       Efficiency. An ERP solution eliminates repetitive processes and greatly reduces the need to manually enter information. The system will also streamline business processes and make it easier and more efficient for companies to collect data, no matter what department they’re working in.

3.       Forecasting. Enterprise resource planning software gives your users, and especially managers, the tools they need to create more accurate forecasts. Since the information within ERP is as accurate as possible, businesses can make realistic estimates and more effective forecasts.

4.       Collaboration. Nobody wants to run a siloed business with each department functioning separate from the other. Collaboration between departments is a crucial and often necessary part of the business. With the data entered into ERP systems being centralized and consistent, there’s no reason why departments can’t work together. The software also touches on almost every aspect of a business, thus naturally encouraging collaborative, interdepartmental efforts.

5.       Scalability.  Structured ERP systems allow the addition of new users and functions to grow the initially implemented solution over time. When your business is ready to grow or needs more resources, enterprise resource planning software should be able to facilitate that growth.

6.       Integrated Information. No more issues with data spread across separate databases; all information will be housed in a single location. This means you can integrate platforms like your CRM software with the ERP system, keeping data consistent, accurate, and unique. Know your customer, their orders, and your inventory, all in one place.

7.       Cost Savings. With one source of accurate, real-time information, ERP software reduces administrative and operations costs. It allows companies to proactively manage operations, prevents disruptions and delays, breaks up information logjams and helps users make decisions more quickly. If you’ve chosen the right solution for your business, and the right vendor who meets your needs, you’re bound to see a powerful ROI.

8.       Streamlined Processes. As companies grow, their operations become more and more complex. Manufacturing software automates business operations cross-departmentally, providing accurate, real-time information to everyone utilizing the solution. ERP increases efficiency and productivity by helping users navigate complex processes, preventing data re-entry, and improving functions such as production, order completion and delivery. Streamlined, efficient processes throughout.

9.       Mobility. An advantage of ERP solutions is having access to a centralized database from anywhere you work. Home, office, wherever, through our mobile-friendly solution and application.

10.   Reporting. ERP software helps make reporting easier and more customizable. With improved reporting capabilities, your company can respond to complex data requests more easily. Users can also run their own reports without relying on help from IT, saving your users time to use toward other projects.

11.   Productivity. Save time and increase productivity levels. Sound too good to be true? It’s not with ERP software. By having redundant processes automated, users have more time to work on other pressing projects and tasks. They’ll also be able to work easier since the solution was designed for ease-of-use.

12.   Regulatory Compliance. A benefit of ERP software which sometimes goes unnoticed is how it ties well into regulatory compliance in the manufacturing industry. Powerful ERP solutions will keep track of regulations within the industry and monitor changes in compliance.

13.   Flexibility. Modern ERP software systems are robust, flexible, and configurable. They are not a one-size-fits-all proposition but can be tailored to the unique needs of a business. ERP systems also can adapt to the ever-changing needs of a growing business, ensuring you won’t have to buy a new solution once your needs change or your business grows.

14.   Customer Service. It’s easier to provide high-quality customer service using an enterprise solution, especially when you’re using one as well-equipped ERP. Sales and customer service people can interact with customers better and improve relationships with them through faster, more accurate access to customers’ information and history. You’ll also have access to marketing automation and contact center software, ensuring your customers are being interacted with consistently.

15.   Security. Data security isn’t a worry when you have an enterprise resource planning solution in place. A new system will improve the accuracy, consistency, and security of data, all through built-in resources and firewalls. Restrictions to data can also be enhanced by managers of the solution, so you can make your own software as secure as you’d like.