Every year or every quarter, companies and corporations publish their reports, which show the aggregate of recent performance. While some companies get results that delight their investors, some others come up with results that can lead to bankruptcy. However, the simple implementation of enterprise resource planning (ERP) can make all the difference between spectacular success and dizzying failure.There are many reasons why analysts have agreed that ERP is the real secret of efficiency in business and these reasons will be highlighted below.
- INTEGRATION OF TASKS
Businesses by nature have many parts and sections, managing these seemingly disparate parts can be difficult. However, with the implementation of ERP, this is not the case as ERP software seamlessly integrates these different parts together, from financial records to sales to procurement to auditing to processing, everything is covered by ERP.
- PROMPT DELIVERY
As it provides for integration of all the steps, ERP allows for a quicker turnaround time and this is absolutely crucial in the business world. Take for example a company that is into the production and sales of goods, ERP ensures a faster processing of customer orders and speeds up the recording of all inventories.
- BETTER CUSTOMER-COMPANY RELATIONSHIP
With ERP, customers are able to properly express themselves, give recommendations to the business or simply leave feedbacks regarding their experience with the business, service or product. By analyzing these details left by the customers, businesses will have a very good idea as to which area to improve upon and which sectors to increase production. Without an accurate custom feedback mechanism in place, many businesses have failed, and this is one of the things prevented by ERP as it not only gives direct information from the customers to the business but also assists in the analysis of such external and user-generated data.
With ERP software application, creating standards for different companies and businesses can be done with the click of a button. By standardizing processes, businesses are able to reduce production and delivery times, boost productivity and minimize unnecessary cost and spending.
- ENHANCED SECURITY
As the records on ERP servers are aggregated in the same place, it is better in terms of security. This becomes obvious when compared with other archaic systems where the details are in different locations or servers that can be brought down by hackers or even workers with malicious intent but this is not the same with an ERP-driven system.