If you are experiencing any of the following common challenges, it may be time for you to upgrade your ERP system:
- Executives and leaders lack timely information to make decisions. They struggle to gain efficiency and free up capital for growth
- Marketing teams lack customer insight to generate more demand.
- You lack visibility into costs and margins which negatively affects purchasing. Orders are rushed because there is a lack of accurate planning which often results in problems. And your supplier performance is unpredictable.
- Accounting departments spend more time on receivables and closing while accurate forecasting and cash flow optimization are ignored.
- When more time is spent on managing customer issues, your sales go down. You experience poor visibility into potential customers and stock.
- Productivity is lost from poor planning and quality suffers.
- You experience stock outs while at the same time your excel inventory is growing
So what can you expect to see after you implement your modern ERP? Here are some of the measurable benefits that will result:
- Reduce cost of working capital – Manage your business performance with real time analytics, reports, alerts, and key performance indicators. Being able to continually monitor and measure performance across the entire company allows you to more naturally optimize your business operations. You need access to every aspect of your business across all departments to drive productivity. Understandable, customizable, mobile, and interactive tools for understanding data are built into your system.
- Reduce cost of labor – The modern ERP solution is designed around the idea of reducing costs by giving you full access to real time data of your day-to-day operations. You can reduce operational costs by up to 23% and administrative costs by 22%.
- Reduce cost of inventory – On average, inventory levels managed by an ERP system are lowered by around 22%. You can achieve better coordination between manufacturing and procurement with customer service, logistics, and delivery. Location management, inventory management, forecasting, quality control and many more supply chain processes are improved.
- Reduce cost as it relates to suppliers and products – Collaborative processes help you to operate efficiently, effectively respond to customer needs, and bring products to market more quickly. You can achieve full and immediate visibility into orders and plan workloads accordingly and with more accuracy. You can facilitate your ability to work with a larger volume of business resources without over paying. Mobility is a must have and is more than just a convenient feature.
- Improve realization of new market opportunities – Modern ERP solutions make it possible for your business to realize and experience rapid growth into new markets with multiple languages, multiple forms of currency; there is really no limit to what you can experience. Your new ERP solution will be built around not only who you are today, but who you will become tomorrow.
- Improve revenue growth – When your customers are satisfied and experience consistency in their interaction with you, they will keep coming back for more.
By Socius, an ERP provider in Ohio (www.socius1.com)