Data is the engine of today’s economy. But as much of an asset as it can be, it’s also a complex and unruly beast that can build roadblocks as fast as it opens doors.
Enterprises of all sizes and industries must make systematic data management a major priority. ERP solutions are the most adept tool for doing this, and the ecosystem for these solutions is now expansive enough to suit any user and need.
Thinking of ERP as strictly a tool for data management, however, overlooks its full value. In practice, ERP is a tool that impacts every department and workflow, and which has benefits even eager adopters never expected.
Understanding how deep the impact of ERP runs is crucial for using its various features and functions to the fullest while ensuring the maximum possible ROI. With that in mind, take some time to explore the myriad benefits that follow a successful ERP implementation:
· Decision Making – Once a shared platform for data has been put in place, it’s significantly easier to make decisions based on objective information rather than assumptions or traditions.
· Planning – Creating accurate and actionable forecasts is more reliable once all the relevant data is collected together into an easily-digestible format.
· Redundancy – Instead of asking every department to generate records and reports that already exist elsewhere, they can rely on the shared platform of ERP to eliminate unnecessary redundancies.
· Modularity – The tools incorporated into ERP are modular, empowering enterprises to directly match their capabilities to their present and future requirements.
· Traceability – ERP makes it possible to track even the most granular assets through even the most complex systems.
· Communication – The logistical and cultural barriers that exist between teams/departments quickly dissolve when everyone relies on the same tools and platform for sharing information.
· Costs – In practice, ERP has the ability to eliminate inefficiencies across the board, cutting costs that add up to massive long-term savings.
· Accuracy – ERP ensures that data is always up-to-date and instantly available so that any use of that data is free of errors and inaccuracies.
· Scalability – When ERP is based in the cloud it can quickly and cost-effectively scale up or down almost immediately. When your data needs unpredictably (yet inevitably) change, it creates the minimum amount of disruption.
· Growth – When ERP tools are used strategically, they allow enterprises to nurture deeper relationships with customers and shift confidently into different markets. The effectiveness of a growth strategy is directly affected by ERP.
· Collaboration – A shared platform breaks down the barriers that discourage innovation and creates the conditions for your staff to use their talent and resources to the fullest.
· Security – Dependable data security is next to impossible when the data is spread confusingly across data silos. Once it has been integrated into an ERP it’s possible (and absolutely necessary) to put an enterprise data security strategy in place.
· Mobility – Empowering staff to work effectively from home or on the road is about putting tools and data in their hands regardless of their location. True enterprise mobility is a lot easier to introduce and manage.
The benefits listed above are universal. But what is perhaps most exciting about ERP is that the particular impact it has on a company can be both customized and optimized. The right tool will adapt to the needs of the user. And once it has been implemented and embraced, users are free to utilize it in whatever way best serves their goals. ERP starts with data, then expands outward in every direction.