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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 enterprise resource planning (ERP) software 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 performance. 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. When it comes to project management, particularly with regards to 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 handle inventory management. Thus, resulting in more effective demand forecasting. You also get a 360-view on production, allowing you to identify time consuming 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 Robustness and Usefulness

With built-in business intelligence tools, organizations can analyze their data in-depth, uncovering meaningful insights and trends. These analytics can reveal patterns, correlations, and outliers that may not be apparent when looking at simple numbers on a spreadsheet. By leveraging this business intelligence, companies can make data-driven decisions that optimize processes, reduce costs, and improve overall efficiency.

In addition, ERP systems enable the creation of customized reports and dashboards tailored to specific business needs. Users can configure these reports to display the most relevant metrics and key performance indicators (KPIs) for their roles and responsibilities. Whether it’s tracking sales performance, inventory levels, or production efficiency, ERP software allows businesses to visualize and monitor the metrics that matter most to them. This personalized reporting saves time, improves data interpretation, and empowers stakeholders at all levels to track progress and make informed decisions.

Improved Customer Service Efficiency and Performance

ERP software integrates order management processes, from capturing orders to fulfillment and delivery. By automating these tasks, businesses can ensure faster and more accurate order processing. This streamlined process eliminates manual errors, reduces order cycle times, and enhances order visibility. As a result, customers experience improved order fulfillment, timely deliveries, and accurate information regarding their orders, leading to enhanced satisfaction.

When connected with customer relationship management (CRM) software, ERP systems provide centralized customer data, enabling customer service representatives to access relevant information quickly. They can view order history, customer preferences, past interactions, and any ongoing issues, empowering them to provide personalized and efficient support. Additionally, ERP software often includes communication tools like email integration and customer portals, enabling seamless communication between your front office, back office, customers, and support teams. This prompt and effective communication builds trust resolves issues faster, and ultimately improves customer satisfaction.

Productivity Tracking

ERP efficiency features are 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 functions, 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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