Because all of your data is accurate, up to date, comprehensive, and easily accessible, an ERP improves reporting processes. The systems also typically include customized reporting capabilities that can be tailored to each user, showing only the most relevant data.
Sans ERP, managers often have to turn to IT or operations to request the complex reports they need to produce accurate forecasting, then mine that data manually or within Excel. ERP software eliminates the need for that middleman and allows for flexible, accurate, customized reports in a much shorter timeline.
Accurate forecasting is critical for a growing business. You need to be able to plan around sales goals, inventory trends, and employee overhead in order to know how much you have to devote to growth strategies. That’s hard to do with manual processes, and very easy within an ERP.
Clearly, there’s a quantifiable number that can be associated with cost savings in terms of employee hours or elimination of errors from manual processes. But the side benefit of freeing up customer service representatives (CSRs) from tedious and error-prone tasks is that they then have more time to build real relationships with your customers.
This is no throwaway perk. The more solid your customer relationships, the stickier you become. When CSRs can see all of your customer’s data, such as past orders, payments, help tickets, and other touchpoints with your business, in one place, they can converse more freely and help the customer more quickly. It’s far less expensive to keep an existing customer than to try to sell a new one, and an ERP can significantly improve customer relations.
A SMB can get away with ad hoc disparate systems, but evolving organizations need a comprehensive business management software that supports their growth strategies and better equips employees to devote time to profit-generating activities. Moving to the next stage is hard no matter what the occasion: having a child, buying a house, starting a business, or growing from a SMB into a solid midmarket player.
There’s a lot of complex prep work that goes into making sure you’re ready to tackle any challenge. For growing companies, implementing an ERP is a necessary framework to build if they want to move to the next level.