In this day and age, businesses are moving to leverage the power of technology, streamline their processes and improve their overall operations. However, existing technologies are increasing with each passing day, making it hard for companies to choose the best one to go with.
One main question that most business owners ponder is whether an ERP software investment worth the risk? To understand this, it helps to assess the benefits of having an ERP software and to see whether they can have a significant impact on your business.
Before we dive into the benefits of ERP software, it is essential to demystify some myths about them. It is known that selecting the right ERP is a considerable challenge, even for the most seasoned IT professionals.
One thing to note is that the cost of an ERP should be a huge determining factor in your decision. It is better to buy a comprehensive system that is costly but will have more benefits to your business than saving money on a cost-effective one that offers you partial benefits.
Do not just let your IT personnel handle the selection of ERP software as it will be used by all departments in your firm. Let all the stakeholders have their say when determining the best software to ensure that you get the best for your business and not just for the IT people only.
Lastly, the more functions an ERP software has, the better it is for your business. However, this is not cast on stone as some functions might be irrelevant to your business. Therefore, ensure that you find one that exhaustively takes over your business functions.
Following are some of the key benefits of ERP software:
The investment you put in an ERP is vast but it goes a long way in unifying all your IT costs for better efficiency. Rather than creating multiple budgets for different systems that require dedicated support and infrastructure, you can focus all these into one ERP.
Aside from that, you might end up saving on the overall cost since all the infrastructure and support will be handled at once rather than having to do it separately.
The single system reduces the training requirements for end-users and improves collaboration between the various business departments, leading to better business efficiency.
This is one of the strongest selling points for ERP software. It allows you to have a more holistic view of your business since you can access data from all parts without having to interact with different systems.
For example, you can monitor inventory daily, watch your accounts, and get business reports frequently.
By having a clear picture of where your entire business stands every day, you are better placed to make better business decisions and change things in real-time for the benefits of the firm.
Apart from the improved business visibility, you get better insight. Implementing a single ERP across all your business departments means that your business has a unified reporting system.
This makes it easier for you to generate accurate reports for the entire company. The centralised system makes it easy to relate the reports coming from different departments and compare them for better business decision making.
Modern ERP vendors offer business intelligence features to the software, and these can help with corporate planning since they can identify any potential strengths and weaknesses within the business that require improvement.
Other advantages of ERP software include;
If you are looking for ERP or accounting software solutions anywhere across Australia, then please get in touch with us at Stratus Smart Software Solutions. We are located in Melbourne, Perth and Sydney with affiliate offices and resources nationally.
Our solutions encompass many functions of ERP software including financials, CRM and sales, stock control software, barcode scanning, EDI integration, project management and more.
Call us today on 1300 499 000 or fill out our inquiry form and we will get back to you within 24 hours.