Why & How To Manage Your Business with ERP Systems
Major Points of the Article
You most likely think about how to manage your business more effectively. With an ERP system, you can, and it can save you thousands of hours of administration and management costs per year.
ERP Systems are a great way to improve your company's efficiency and profitability.
The software solution can be integrated across all areas of your business to streamline processes and collect real-time data.
What Is An ERP System
In the world of business, you most likely would be looking at ways to improve your operations, cash flow, marketing, and more. With Enterprise Resource Planning or ERP, you can do just that. Essentially, it is a type of software that businesses use to manage their day-to-day activities.
Activities such as their:
accounting
procurement
project management
risk management
compliance
supply chain operations
And it doesn't stop there. You can also use it to help plan, budget, predict, and report on a company's financial results through Enterprise Performance Management.
In summary, ERP systems can do a whole host of things for your business that can result in greater efficiencies, profits, and even greater happiness among your employees, plus a whole lot more...
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How Can An ERP System Improve Your Business
As mentioned above, an ERP system is very helpful for your business, because it essentially ties together a multitude of business processes and data to streamline your operations. It prevents data duplication and creates reports (a picture) of how your business is operating.
In fact, you most likely are using many software products, be it on-premises or in the cloud. HOWEVER, they are not talking to each other... Meaning you or your employees are spending hours processing the data from two, or even more, different sources to create a report. This wasted time, and potential human error within the report, will lead to a loss in revenue for yourself.
So instead of your employees being buried in a mountain of writing reports, they can simply click a button and the ERP system will create it. This in turn will save your employees hours that they can better spend on activities that can produce more sales for yourself.
Essentially, an ERP system can be your central hub for end-to-end workflow and data for your many departments and/or subsidiaries. And, has many real benefits such as:
Improved business insights with real-time information or reports
Lower operational costs as you can optimize and streamline your business more efficiently
Enhanced collaboration across your business due to greater communication and sharing of data
Consistent infrastructure across the entire business
Higher user-adoption rates from the common user experience and design
Reduced risk through improved data integrity and financial controls
Lower management and operational costs through the uniform and integrated systems
And improved efficiency through well-defined business processes.
What Are Your ERP for Small Business Australia Options
For the longest time, people thought ERP systems were only for large organizations, however, they are not. It is for every size of business, be it small, medium, or large and there are many options on the market. Options such as SAP, ORACLE, and many thousands more...
In fact, when considering what ERP system is right for your business, you should definitely consider cloud-based as these can readily be accessed through the internet, are backed up, super fast, usually have a mobile app capability for greater communication, and a whole lot more.
Plus there are many Saas systems available, which usually require a small month-to-month fee.
BUT, you can also get a custom-made system that's just perfect for you.
So in summary, you should be considering the time an ERP system will take to implement, the costs and ongoing costs, and how the solution integrates into your business.
Your Next Step
In moving forward, you will need your long-term strategy mapped out. Essentially, the where, when, and how your business will either REGROW, GROW, or ACCELERATE over the next few years. In fact, the team at Paradelta Strategy creates such plans and usually find up to 8% in savings that can be used in other areas to grow your business.
They are a business strategy and brand equity-building company that specialises in reviewing and improving your business. Over the years, we have helped businesses across Australia to grow and expand, nationally and internationally, and grow significantly in profits. To get assistance with your business, simply email us at hello@paradeltastrategy.com.au or schedule a no-obligation discovery call here.
