5 Business Problems ERP Solves
Are your financials taking longer to reconcile, are sales forecasts based on guesswork not data, is inventory in a mess, and is customer satisfaction faltering? You are not alone! Derived from an infographic by Oracle Netsuite, we share with you the latest stats on some of the most prevalent frustrations businesses face, and insight into how a new ERP system could solve them for you.
1. You have lots of different software for different processes.
Do accounting, sales, the warehouse and so on, all use different applications? When front- and back-end systems run separately, it can wreak havoc on the processes designed to ensure the business runs smoothly. ERP software integrates these systems so every business function relies on a single database.
2. You don’t have easy to information about your business.
What’s your sales margin, average orders a day, sales to date, or net profit? For companies that rely on siloed systems and spreadsheets that need to be updated constantly and reconciled manually, it takes ages to find out. ERP delivers greater visibility and sharable, real-time data for faster decision-making.
3. Accounting takes longer and is more difficult.
Often, the first noticeable signs that your company needs ERP software will come from accounts. Paper-based invoices and sales orders, repetitive processes and manual entering. If it takes ages to consolidate or resolve financials across systems and spreadsheets, an ERP solution can make a massive difference.
4. Sales and the customer
experience are both suffering.
If sales, inventory and customer data are maintained separately, serious problems can emerge across your company. If a customer calls to inquire about an order and staff can’t track it to see if it’s shipped – or even in stock – your company will start to develop a poor reputation. The right ERP can turn this around.
5. Your IT is too complex
and time-consuming.
Customising disparate systems, integrating them and maintaining them with patches and upgrades can be complex, costly, and sap critical resources. Rather than add more software and complexity to an ineffective system, ERP can give you the agility to respond to changing business needs rapidly.
Looking to Solve your Business Problems?
Sources
1 TechnologyEvaluation.com research
2 Okta’s Businesses@Work report – number of apps per company
3 Panorama ERP Report 2018
4 SelectHub research report
5 Allied Market Research report – APAC
6 Business-Software.com Top 20 ERP for 2020 report
