5 Signs Your Organization Needs ERP
Are your month-end financial processes taking a long time to complete? Do you have trouble tracking your inventory? Have you experienced an increase in customer complaints due to slow order fulfilment? Do you have the right sales data to forecast demand? If any of these scenarios sound familiar, it might be time to consider an ERP system.
Each organization is unique and has different business requirements, but many companies face similar business challenges. No matter the industry, organizations need to be able to respond quickly to changing customer demands. The right ERP solution can create a unified, agile business that enables continued growth. Here are 5 signs your business might be ready for ERP.
1. Data is stored in multiple, disconnected systems
Do your employees need to access a variety of systems to view critical business information? Is the same type of data entered in multiple places? Accessing and entering data in various systems not only takes up valuable time, it leaves room for costly errors.
ERP software integrates disparate systems into a single, unified platform that provides a centralized source of information accessible throughout the entire organization. By accessing a single source of truth, employees are gaining better visibility into all areas of the business saving significant time – time that can be spent on activities that add value to the business.
2. Processes are complex and time-consuming
Large companies typically need to manage complex operations. These companies need to communicate between a variety of departments, including production, purchasing and accounting. An ERP system can streamline workflows and automate processes to achieve higher efficiencies and help reduce time to market for new products.
Most organizations need to manage a large supply chain – an ERP system can interface with supplier systems from both a purchasing and accounting standpoint. Companies that use just-in-time (JIT) inventory management can allow their suppliers to access their systems to keep inventory at an optimal level based on real-time data. An ERP system can streamline the planning, forecasting and ordering processes across multiple locations.
3. Reports are lacking deep business analysis
Running reports doesn’t equal business analysis and if reports are difficult to build or share, you might be missing valuable business insight. The right ERP solution will go beyond traditional reporting and provide integrated business intelligence and analysis displayed on dynamic dashboards that are easy to understand and manipulate.
The key to business intelligence is to turn data into actionable insight. That insight needs to be based on real-time data that can be easily viewed for different scenarios. This is especially important for sales forecasting or predictive maintenance. Getting the most out of your data will enable your organization to spot trends and better respond to market demands – all to help grow the business.
4. Customer satisfaction is declining
Companies that experience rapid growth are often challenged to keep up with inventory management and having the right product available at the right time, in the right place. This can have a negative effect on customer satisfaction, which in turn can negatively impact a company’s reputation.
The right ERP solution will integrate sales, inventory management and customer data into a single, unified platform that is accessible in real-time – across the entire organization. Service agents and sales teams will gain a 360-degree view of the customer, enabling them to respond to inquiries and requests quicker and more effectively – all to provide a more satisfying customer experience that will positively impact customer loyalty and revenues.
5. IT systems cannot accommodate changing requirements
Running multiple, disconnected systems and keeping those systems updated and maintained can be a real challenge for IT departments. Not only is it time-consuming, it can get expensive. Rather than adding more solutions or patching existing software within an already ineffective system, an integrated ERP system is scalable and provides the flexibility businesses need to respond to changing business requirements.
This is especially true for cloud-based ERP systems that make it easy to keep solutions up to date and add new functionality as your business grows and changes. Instead of expending large capital investments up front, your business can take advantage of the latest technology while minimizing total cost of ownership.
So, which solution is right for your business? Microsoft Dynamics 365 is an end-to-end solution offering enterprise resource planning features that integrate business processes into one platform to more effectively manage:
- Financial controls
- Supply chain and operations
- Customer relationships (CRM)
- Human resources
- Business intelligence
With the integration of ERP, CRM and front-end office technology, your organization can eliminate the silos that hold you back today. Your company will experience more efficient collaboration, faster decision-making and improved productivity throughout the entire business – laying the foundation for continued growth and success.