How ERP Improves Business Performance

Automation is the heart of ERP. From doing entries in the excel to generating key documents, there is a lot of tedious and repetitive manual work that has to be done with accuracy. By automation, documents can easily be generated on a click and redundancies can be reduced. Time saved is money earned! You can manage all your accounting and financial needs feasibly by automating activities like sales invoice, purchase invoice and purchase entries. Accounts, one of the key departments can be managed with acute accuracy.

It is said that a company’s greatest assets are its customers. For any business to survive in the competition, it is very crucial to make customers a priority and never let them down . ERP provides an innovative way to skyrocket customer satisfaction.

Customers stick with those companies which give them fast and effective services. With ERP, customer’s data can be stored and hence customizing products or services as per the requirements becomes faster and easier. ERP enhances customer support and handling. Imagine a customer who just wants to know the stock availability or status of his order, is getting frustrated because of poor service. Who would ever want that! ERP providing you one database, one application across the entire enterprise makes it feasible to check inventory levels, customer data and history, payments, shipments such that it is answerable from any department. In this way, get a comprehensive view of your customer because of all the details anytime, anywhere. This enhances your customer relationship management and makes support faster, ultimately leaving you with a happy and satisfied customer.

According to a survey carried out by SHRM, the leading job satisfaction contributors are : respectful treatment at all levels, timely compensation/pay, benefits and security.

Your team is the backbone of your organization. How your business performs is very largely dependent on your human resource. It is very essential to build a highly motivated team comprising of the right talent, such that it bridges the gap between you and your goals. ERP allows for systematic and accurate storage of data and thereby significantly improving the quality of talents hired because who doesn’t want to hire the best out of the rest! The company can manage with accuracy the employee’s attendance and the number of leaves they are taking. Always have your employees satisfied with timely payrolls and appraisals. With automation, there will always be accuracy and no delays. ERP helps monitor expenses and reimbursements to employees. In this way always keep track of the costs incurred and effectively manage overall costs.

Catapult your Purchasing potential, churn out more profits!

For an organization, it is essential to have the right quantity of raw materials in the right quality at the right time. Incorrect purchase can lead to undesirable losses for the business. Hence, it is important to have accuracy and optimization in the purchase department. It deals with goods to be purchased from multiple vendors. With ERP, since there is a centralized database, you can record all the necessary details of the vendors, can create quotation and send it to multiple vendors and select the best quote among them. ERP generates automatic purchase requisition when the stocks go below unwanted levels. Who would want to face the aftermath of having insufficient goods in the inventory!

It is very crucial to have transparency and integrity between the purchase and accounts department. With ERP, you can ensure a strong and effective collaboration between both the departments. When a purchase invoice is generated, it goes into the account payable entries and the purchase amount is transacted to the vendor account. The perk of having such a technology is that everything can be handled in a hassle-free manner over a common database thereby ensuring efficiency, accuracy, visibility across all platforms.

Enterprises have to effectively strike a balance between the demand and supply. For this, correct inventory levels have to be managed and it is important to have accurate inventory information including quantity, price and location at all time, which will ensure correct purchasing decisions and also customers demand is met. Imagine if there is a high demand but insufficient stocks. A lot of revenue will be lost, and it will also lead to customers getting turned down. Hence having essential data at fingertips is important so that you are always prepared during the uncertainty.