- January 9, 2020
- Posted by: Arvant
- Categories: Blog, ERP Systems
Deciding whether or not your business should take on an ERP software can be an overwhelming decision, especially if it is your first time implementing major software. You may think that operating without ERP software can be done, but if you want to see a positive change in business and experience overall growth, it is important to take the necessary steps in order to see the benefits. So is investing and implementing ERP software worth your time? We say yes, because with implementing this software comes major benefits that you don’t want to miss out on.
There are many benefits of Odoo ERP software, which include improved productivity, increased efficiencies, decreased costs and streamlined processes. Let’s look at 15 of the most common benefits of an ERP system that companies have reported after implementation.
Why is ERP Important?
The importance of ERP revolves around what it can do for your business. ERP manages a number of business functions through streamlining and automating daily business operations. The software creates a leaner and accurate operation and provides a complete, 360 view into the ins and outs of your business. With the software, businesses are able to improve both user efficiency and productivity, becoming agile which improves customer service.
Advantages of ERP Software
See below for primary ERP benefits when implementing a robust ERP system:
It’s true that ERP software requires a major investment, but there’s also an even bigger cost in not making the investment. While some manufacturers choose to stick to the tried and true methods of the past, others seek technology solutions. With so many benefits that ERP provides, users can see improvements within multiple departments. Implementing the software helps to keep you ahead of the competition because you no longer run the risk of making costly business mistakes, which could place you behind the pack instead of ahead. Manufacturers cannot afford to put off an ERP implementation while their competition invests in ERP and starts reaping the many benefits we’ll touch on below.
Improved Process Efficiency
An ERP solution eliminates repetitive processes and greatly reduces the need to manually enter information, which not only improves user productivity, but it eliminates the possibility of inaccurate data which could lead to making costly business mistakes. The implementation of an ERP system will also improve daily business activities by streamlining business processes, which makes it easier and more efficient for companies to collect data, no matter what department they’re working in. Think of ERP as an extra hand and brain, designed to keep businesses on track, noticing every detail and making work life easier and more efficient, from software users down to its customers
Enterprise resource planning software gives your users, and especially managers, the tools they need to create more accurate forecasts. This helps software users, and businesses as a whole, think ahead and properly plan what they need from inventory and sales down to financials and customer service. With stronger forecasting, businesses can effectively decrease business costs, which saves money as well as become an more overall proactive unit. Since the information within ERP is as accurate as possible, updating in real time, businesses can make realistic estimates and more effective forecasts.
Nobody wants to run a business in silos with each department functioning separate from the other. Collaboration between departments is a crucial and often necessary part of the business, especially because business projects often involve more than just one department. With the data entered into ERP systems being centralized and consistent, there’s no reason why departments can’t work together, sharing information and collaborating whenever it is needed. The software also touches on almost every aspect of a business, thus naturally encouraging collaborative, interdepartmental efforts. The beauty of ERP software is that it updates in real time, so no matter if you are using ERP software in the morning, afternoon or from a remote location, the opportunity to communicate, share information and use data is always available and accurate.
Did you know? Structured ERP systems allow the addition of new users and functions to grow the initially implemented solution over time. No matter how big or small your business is ERP grows with it, being able to occupancy new users and new rounds of data whenever your business is ready to expand. There is no worry about whether you will need a brand new system once a new user or two needs to be added, simply make sure that the enterprise solution that you choose is able to grow with your business because ERP should be able to facilitate that growth.
Enterprise resource planning software acts as a central hub for all of the important information that your business and the departments within it need to maintain daily business practices and operations. No more issues with data spread across separate databases; all information will be housed in a single location. This means you can integrate platforms like your CRM software with the ERP system, keeping data consistent, accurate, and unique. Know your customer, their orders, and your inventory, all in one place. There is also no need to worry about whether the information that you are using from the system is accurate, since it is updated in real time across the board. This improves your data accuracy, which eliminates making potential business mistakes with false data and analytics.
With every business, you want to be smart with your financials and avoid making costly mistakes that could hurt your business in the end. With one source of accurate, real-time information, enterprise resource planning software reduces administrative and operations costs, allows businesses to utilize money in other, much needed areas. It allows manufacturers to proactively manage operations, prevents disruptions and delays, breaks up information logjams and helps users make decisions more quickly. If you’ve chosen the right solution for your business, and the right vendor who meets your needs, you’re bound to see a powerful ROI. ERP software is available to help you become smarter about saving and spending when necessary.
As manufacturers grow, their operations become more and more complex, which unfortunately increases the opportunity for costly mistakes to be made. Manufacturing software automates business operations cross-departmentally, providing accurate, real-time information to everyone utilizing the solution, all while eliminating manual duty, which often has the potential to lead to errors. ERP increases efficiency and productivity by helping users navigate complex processes, preventing data re-entry, and improving functions such as production, order completion and delivery. Streamlined, efficient processes throughout.
An advantage of enterprise resource planning software is its ability to make users the center of its attention, providing deployment styles that will give on the road sales reps the same opportunities as in-office users to use ERP whenever and wherever they need. With Odoo ERP software, users have access to a centralized database from anywhere you work and from different devices including your laptop, tablet or cell phone. The adaptability of a ERP software is crucial, as it increases productivity and makes information accessible no matter where you are. Do you often have time sensitive projects that have hard deadlines? Use ERP at home, in the office, wherever, through our mobile-friendly solution and application.
ERP software helps make reporting easier and more customizable, fit to meet all of your needs. With improved reporting capabilities, your company can respond to complex data requests more easily. This improves productivity, completes process faster and helps to close out projects without large wait times in between. Users can also run their own reports without relying on help from IT, saving your users time to use toward other projects.
Save time and increase productivity levels. Sound too good to be true? It’s not with ERP software’s automation and streamlining capabilities. Often times, when tedious tasks take up much needed business time, there can be a delay in production, which can effect your business and even the customer service experience. By having redundant processes automated, users have more time to work on other time sensitive, pressing projects and tasks that may truly require more of your attention and time. Users will also be able to work easier since the solution was designed for ease-of-use. ERP was designed with ease of use in mind, as well as giving business a break from long winded tasks, allowing you to shift your focus toward other matters.
A benefit of ERP software, which often times goes unnoticed, is how it ties well into regulatory compliance within the manufacturing industry. Powerful ERP solutions are designed to keep track of regulations within the industry and monitor changes in compliance. This allows users, and businesses at large, to stay abreast with laws, regulations, guidelines and specifications as it relates to business processes.
Modern ERP software systems are robust, flexible, and configurable. They are not a one-size-fits-all proposition but can be tailored to the unique needs of a business. ERP systems also can adapt to the ever-changing needs of a growing business, ensuring you won’t have to buy a new solution once your needs change or your business grows. When implementing the ERP software of your choice, it is important to make sure that you can customize applications and suits, so that your system has every function needed in order to assist with daily business operations. Make sure that your ERP system can grow as your business grows, allowing you to add new users when and if needed. ERP’s flexibility also goes into how it is implementing, which can be done in either your choice of the cloud or on-premise.
It’s easier to provide high-quality customer service using an enterprise solution, especially when you’re using one as well-equipped as Odoo ERP. Sales and customer service people can interact with customers better and improve relationships with them through faster, more accurate access to customers’ information and history.
ERP provides reliable data that can be accessed from different locations (if implemented in the cloud) and through multiple devices including tablets and smartphones. With the ability to update in real time, ERP improves data accuracy and consistency. With this, users can ensure that all data and analytics are safe to use, without running the risk of errors. ERP user data can also have additional security through firewalls and built-in protection resources. Improved security removes the risk of important business information getting into the hands of the wrong person. Both accuracy and safety are key with Odoo ERP software.
Ready to learn more? Our ERP solution experts are ready and willing to answer all your questions and help you get started on selecting the right solution for your business.