Benefits of ERP Software and how it Delivers on ROI

by Darren Talley | May 8, 2019 | ERP Software

Benefits of erp software

Businesses are focused on ROI (return on investment), and the benefits of ERP software and modern technology can optimize the work employees do and minimize redundancies and error. A State-of-the-art ERP solution is the best step forward for small-to mid-sized businesses (SMBs), that are looking for profit and gain.

Cloud ERP solutions can help business leaders to run an entity more efficiently. Streamlining resources and leaving time to better invest in substantive matters. By optimizing technology, companies can minimize redundant tasks and extensive and useless paperwork.

The utilization of an automated control system allows businesses to manage core processes related to accounting systems. An ERP system can work simultaneously with other systems, including just about any application a company may require to fulfill its unique business needs.

The benefits of a successful ERP software implementation can bring with it maximum return on investment and help to grow a company. Here are a few ways a business can increase its ROI through the use of an ERP system:

Information Sharing

ERP systems are built on a single platform and can be used to monitor a fully comprehensive database covering various departments and processes within an organization. Being able to view the organization as a whole creates a distinct advantage — decision-makers can reflect clearly on insights and data, making timely and rational decisions to better the organization.

Business data needs to be stored in one secure solution; consolidation of data makes managing the sources that feed that insight much more realistic. When silos are broken down, and there is one source to review information, reports can be generated that provide analytic insights that drive actionable and concrete decision making. The actual process of managing the databases is comparatively easy for employees to handle.

Increase Efficiency

An organization can easily spend large amounts of money, updating and managing data for various functions. It’s an exhaustive task that requires attention from many employees, who, in turn, are pressed with putting other tasks on the side. What can happen is that multiple employees wind up working on the same function. Which can cost the company directly due to wasted time.

The benefit of an ERP system is that it can alleviate these issues and others. The purpose of the software is to automate operations and reduce human intervention. What does this save? Money, for one, while also error and repetition — which in turn saves countless wasted hours. Enhancements in efficiency and overall productivity of the resources are tweaked over time for even better results. Employee satisfaction is another positive side effect; staff will have more time to focus on matters that truly benefit the company’s growth.

24/7 Data Access

One of the most important benefits of modern cloud-based ERP software is the ability to work in real-time. When executives and employees alike can check live reports for up-to-date information, the business benefits. With a platform that provides secured access to reliable data, allowing a team to conduct a full analysis, an agile business is better able to plan. Informed decisions make it possible for companies to act and react in today’s competitive environment.

Mobility is another benefit for all team members. Modern technology provides sales teams and other employees with the advantage of obtaining accurate information no matter where they are located and at any time.

Inventory Management

Improved mechanisms of controlling operations can drastically impact a company’s well being —- areas such as production, distribution, warehousing, and others can significantly benefit from an ERP system.

Having up-to-date information on inventory levels helps to minimize shortages and other needless interruptions, while also ensuring production efficiency. Knowing what a company has in stock and what it needs helps to prepare in advance. Likewise, when the staff knows what product is available and what is lacking, it can better fulfill customer expectations. Employees can provide an improved customer experience that benefits the company over the long term.

Cost Reduction

When an ERP system is up and running, it can do wonders to improve business. Undesirable operating costs can be eliminated, helping the bottom line. The modern software also improves procurement and payment operations that can impact a reduction in material costs. The business will see improvement in areas such as staff allocation, reduced overtime and labor costs.

The sooner a company begins implementing an ERP system, the sooner it can expect to see a rise in profits. By organizing the business and minimizing — or eliminating — redundant processes, organizations can save considerable time and money. All of this feeds into the opportunity of profitability.

Getting Started

Implementing an ERP solution doesn’t have to be a daunting or concerning venture for an organization. With over 25 years of experience, we know what business management software and ERP solutions can do to improve ROI.

Working with clients to meet individual objectives and needs is our specialty. Download our guide to see if it’s time to leave legacy systems behind. Contact us to learn more or to schedule a complimentary software consultation.