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How to track your business’ efficiency with your ERP system 

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Written by Laura Schomaker

July 2, 2021

Implementing a new ERP solution brings with it several advantages, including enhanced collaboration, data uniformity, and streamlined business processes. What you may not realize is ERP can also serve as a handy tool for tracking your business’ efficiency. By tracking efficiency more effectively with ERP, you can unlock the true business value of ERP and see even more impressive ROI in the long term.  

Enhanced Resource Tracking 

ERP is many things, and it certainly doesn’t slack in the resource tracking department. Planning and scheduling of resources via ERP probably gives you the clearest view of efficiency at your business. Where are resources being put to their best use? Where are resources stagnating? 

Supply Chain Management 

In terms of your supply chain, the business value of ERP delivers big, giving you better ways to track inventory and resulting in more effective demand forecasting. You also get a 360-view on production, allowing you to identify bottlenecks quickly and easily. Finally, this consolidated view of supply chain efficiency provides you with the insights you and your C-suite need to drive better decision making.  

Data User Access 

An ERP system allows you to share data safely and efficiently. You can also track who is accessing what and when, which provides insights into how efficient your current processes are. Consider using your ERP system to improve data protocols at your company to increase both productivity and efficiency.  

Data Visibility 

The detailed data tracking inherent in ERP not only creates data uniformity within your organization but also allows you to push out more precise and more detailed, real-time data to vendors and partners. Using ERP in this way can help you track just how efficiently you are communicating with vendors and partners to solidify these relationships and the underlying processes that are at the heart of those partnerships.  

Productivity Tracking 

ERP is also a great way to track how well everyone is working within your company. As the office space changes over the next few years, use your ERP to implement new protocols around flex work. Introducing this fresh approach can help you increase worker productivity and track their performance no matter where they are.  

With this total view of business operations, ERP is the ultimate tool for tracking efficiency. ERP gives you ways to view and improve efficiencies in the supply chain, in your workflows, and in how you manage and push out data. What does ERP do for you at your company? Do you have your own points to share for tracking efficiency with an ERP system? Tell us all about it in the comments below. For those of you ready to take the leap and uncover the real business value of ERP, head over to this page and start exploring solutions now.  

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