- October 29, 2018
- Posted by: Asheesh Sinha
- Category: Business plans
Enterprise Resource Planning (ERP) software comes with a variety of business process management tools that enable businesses to integrate and coordinate several aspects of the enterprise. It gives better control of daily operation while at the same time enhancing the business effectiveness. ERP systems will enable you to access and manipulate information from all the facets of your business in one platform, which eases decision-making. ERP integration in your business systems can help your business grow in the following areas.
Enables Sharing of Information Between Departments
As the business grows, it accumulates a lot of customer data and other information. At some point, it becomes hard to have information shared among departments due to its sheer size. An automated ERP system enables easy sharing of information between departments. Departments can share insights such as customer information, inventory information and work in harmony to achieve a common goal. Otherwise, the business may lose great opportunities hidden deep within tons of information.
Makes it Easier to Run Complex Processes
ERP platforms are software suites that facilitate and improve the efficiency of business management. In most businesses, different processes are usually hosted on different software platforms. It becomes a challenge when employees using different platforms need to share information or use data generated by another platform. For example, the accounts department could be using a different platform to record income from what the marketing department uses to record sales. However, ERP creates a shared database where each of the platforms can acquire usable data for its processes. Thus, it helps facilitate and improve the efficiency of business management.
Simplifies Financial Reporting
The hallmark of any business growth is efficient and accurate financial reporting. ERP systems enable the accounting department to integrate financial data from all the other departments with ease. This cuts on delays waiting for project approvals or departmental expenditure. It also helps the business to close loopholes where funds could be getting lost or are being wasted. With the information, top management can better prioritize vital growth projects.
Automating the Marketing Function
Automating the marketing function enables the business to concentrate on the customers, learn market trends, and fast-track the movements of leads through the sales funnel. ERP software helps you automate marketing activities as well as repetitive tasks such as social media marketing and promotional emailing so that the team becomes more focused on individual customer needs and gathering intelligence.
ERP integration results in streamlined processes, improved efficiencies, and cost reduction. In turn, this enables your business to serve more customers, free up more cash for growth activities, and compete effectively at the marketplace thereby promoting growth.
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