ERP stands for Enterprise Resource Planning. ERP software is an integrated approach towards running your organization efficiently to drive growth and revenue. It gives you solutions to run and manage your business innovatively through a set of tools to make informed decisions.
Every business needs certain tools to help them in attaining growth and revenue. The ERP software used in an enterprise like a tool that can add intelligence to business analytics. It covers each and every aspect of business resources based on multiple metrics. ERP is a crucial tool to track all areas of operations, revenue, payroll management, sales, growth and more. It also provides a dedicated dashboard. The main aim of ERP is to decrease your manpower costs by assisting real-time data about your business activities in one go.
What is ERP Software?
ERP is an enterprise resource planning software. It helps in accelerating the business, their tasks and makes operations efficient for a longer run. It is a comprehensive tool for your business to expand your vision towards better organizational management. NOI Technologies provide the ERP system that can offer you essential data and metrics to run your business in a quite informed and innovative manner. Also, It helps in scaling up the capabilities and tasks backed by the data.
Why ERP Software is Necessary for Enterprise?
ERP software offers numerous advantages to businesses ranging from automating tasks to making their processes more productive. Here are lists of advantages that might help you decide the necessity for implementing ERP in your enterprise.
ERP software - a Tool for Digital Business Transformation
A business transformation is an innovative approach towards scaling up a business in return for revenue and growth. The ERP software can help you through the data and statistics by which decision-makers can take the essential decisions for driving business revenue in a more analytical manner. Similarly, it helps in maximizing the output of your business through a systematic process to power-up your business capabilities. This all can be done through a digital transformation process to make your business digitally compatible through rich data sources offered by ERP.
Analytics: Key to Decision Making
The decision making is an important part of business activities. The ERP software aims to offer various insights and KPIs strictly based on the business scenario. It completely drives analytics through a variety of data sources and business processes to give the in-depth aspects of your business in a common platform. These days most of the ERP software makes use of advanced technologies like- Big Data to retrieve meaningful information that is not only essential for business growth but can also help in accelerating revenue.
Supply Chain Optimization: Comprehensive Order Management & Tracking
ERP systems work quite well for B2B & B2C domains. On the other hand, It allows companies to track their order flow and management in real-time making the supply chain more effective in the business ecosystem. ERP software provides a comprehensive scope to track each and every detail of orders and products being delivered through a dedicated system. Also, It is quite efficient than tracking orders manually in excel sheets and commits to driving more efficiency in your order management process.
Moreover, It also eliminates the scopes and risks of data redundancy or fraud due to its strong tracking mechanism.
Driving Sales: Optimizing Funnel for Sales Process with CRM
Sales & Lead Generation is a crucial part of every business. It is a major contributing factor to the company’s revenue. The ERP can help in terms of optimizing your sales funnel by giving you intelligent statistics. You can analyze your consumer acquisition process through the statistics. This is not only just limited to offering you analytics of your leads. Also, it helps to assists you with major areas from where you are seeing drops in sales to nurture more leads in an effective manner. Here are some of the crucial aspects it can target related to sales:
- Accessing Customer Touchpoints: The ERPs can collect data associated with consumer behavior. Also, it tracks consumer aspects to identify various touchpoints to improve the sales process. This can work seamlessly with existing CRM platforms towards consumer-centric processes.
- Integration with CRM: It can also be integrated with customer relationship management software. CRM helps to track and identify pain points of consumers to improve your business process.
Driving Automation: Simplifying Process
ERP Software is completely data-driven. It uses various data points and sources to offer you analytics and insights. In order to offer more value to your business processes, it can help you to eliminate non-productive processes with more efficient and high returning ones eventually simplifying the business process. For instance, it can replace your traditional order taking system process with an automated process. The automated process helps to push the order flow by decreasing the time taken through the manual interaction. Additionally, it can also assist monthly billing payments, payroll management, invoicing and lots more.
Boosts Workforce Productivity
The ERPs are intelligent enough to offer analytics but it can add more value to your business. Moreover, if employees use it to assist business decisions. It also eliminates the scope of redundant tasks by implementing automation. Automation enables your workforce to focus on essential tasks rather than wasting time on non-productive business activities. Eventually, it removes manual efforts which can result in a burden for employees thus ensuring better productivity.
Harshita Moolchandani, working as Growth Marketing Executive at NOI Technologies. She helps Software Development and Digital Marketing Industry based clients to accelerate their business growth with the help of the latest technology and trends.