If you’d like to improve your company’s bottom line, there’s no better way to do so than by using a complete, comprehensive and easy-to-use Enterprise Resource Management (ERP) solution.
These systems help companies better manage their operations which in turn can help improve their bottom lines. Of course, since you’re reading this, you may already know this. You’re likely here because you believe an ERP solution could help your business, but you are looking for more information to help you to propose a new ERP solution to upper management.
The following are three unique benefits that ERP solutions can offer your company that you may not have considered before.
1. Increased security
ERP solutions won’t provide sweeping camera views and real-time updates about mischief happening at your company. However, they can help keep your data safe from malicious cyber viruses, which is critically important because new IT security threats are popping up constantly.
Quality, cloud-based ERP systems can update themselves automatically, putting less stress on your information technology department to manually upgrade them. How does this help better secure data? Automatic updates reduce the chance of human error.
Keith Barker, founder of the “Certified Ethical Hacker” training course, spoke to Business News Daily and said it’s very likely IT teams at small businesses could overlook common IT threats simply because they’re too overwhelmed with other work.
“Especially for a small business that doesn’t have a huge IT staff or any specialists,” Barker said. “One- or two-people teams are perhaps so busy they might not have time to step back and say, ‘OK, what are we forgetting here?”‘
Cloud-based or cloud-accessible ERP solutions can help take the slip-ups out of IT security so your team can focus on what it does best: servicing customers.
2. Improved decision making
Each day your employees make high-level decisions that could affect the fate of your company. But are they basing their choices off the correct data?
If they’re not, these employees are unintentionally putting your business in jeopardy. The best way to prevent errors is by using an ERP solution which accurately collects data and allows all employees from every department to access accurate information. By eliminating costly data silos, companies can stop arguing about who has the best data in their department’s systems and instead focus on developing products and services to better meet your customer demand.
ERPs also have sophisticated but easy-to-read dashboards that provide mangers with an in-depth look at how their company is performing. In turn, this allows them to better forecast and prepare for events.
3. Stay in compliance with government regulations
Publicly-traded companies have to ensure they’re reporting accurate information. If they don’t, they’ll upset their shareholders and stakeholders, which would result in a damaged bottom line.
Of course, all companies need to collect and report accurate information because it allows them to manage for profitability as well as keep them in compliance with any applicable government regulations. For example, a small construction company could gather workplace safety information such as the number of accidents that happen in a year, the types of injuries that occur and how employees feel about the equipment they’re using. Managers can compile this information and make improvements to their safety protocols, helping them stay in compliance with OSHA.
As you can see, ERP systems go beyond just basic data collecting and storage. They can also help drive business growth in ways you may have never thought possible.
If you’re thinking about adopting an ERP system, don’t waste any more time! Talk to a professional ERP consultant like The TM Group today about how to integrate one into your operations.