Real businesses must strike the fine balance between striving and surviving, especially during movements of economic uncertainty. There are many strategies and solutions that help find this balance, with one of the more over-looked solutions being an ERP implementation to streamline business operations.
What is ERP?
Enterprise resource planning (ERP) is a type of business management software that coordinates various processes across a single platform.
Standard day-to-day business processes such accounting, project management, order management, human resources, and customer relationship management (CRM) can be integrated into one shared system using ERP software.
In doing so, a business streamlines countless processes while providing a flow of real-time data throughout the entire organisation.
A shared database ensures that the various employees in a business have access to the same information in a single platform, allowing employees to easily access important data (as soon as it is uploaded into the system) without needing to dig into different systems, saving valuable time by streamlining processes.
This helps a business improve in a variety of ways. From providing better customer service thanks to instant access to detailed customer data to offering access to actionable insights that could reduce overheads and keep you ahead of the competition, ERP software offers countless benefits to an organisation.
How a Business Benefits from Cloud ERP software
ERP system implementation allow business to both survive and strive. From times of economic downturn to growing and expanding, the ERP implementation can help a business in many ways.
Increased Efficiency and Productivity
Using ERP systems generally sees a significant increase in efficiency. This is due to various processes being automated on the system and removing the need for manual re-entry of data.
Employees don’t need to maintain separate databases and can pull data from a single system, such as sales data following directly into the accounting system rather than manually re-entering the information into separate systems.
This results in various operations being optimised to save time and resources, which in turn keeps costs down and profits high.
ERP systems offer better insight to business processes through access to real time information. Data from each department is accessible in a single location that offers greater insight into the various processes, allowing for better decision making to be made using the data.
For instance, you can track daily inventory, including inventory in transit, on-hand, and future consignments from a single database, providing a clear picture of inventory levels for more precise control over working capital.
ERP offers detailed insight into countless processes and resources so you know exactly where the business stands.
For instance, an organisation can avoid running out of on stock because the ERP system can alert the appropriate department as soon as inventory is running out, ensuring sales are never lost due a lack of stock.
Another useful insight ERP offers is about the customer. As the lifeblood of any business, customers should always the core focus of your service. ERP has a wealth of customer data in a single database, allowing organisations to know exactly what customers are buying the most so that they can better target them with offers.
Improved Customer Service
Quality customer service is always easier with ERP systems. This is because there is a single database with a customer’s complete sales history and personal information, allowing employees to provide a faster and more personalised service to each customer.
For example, an ERP contains customer data such as previous interactions, current sales, dues and payments, any issues they’ve had and even information on the size and scale of their business. All of this allows customer service providers to offer a personalised experience that makes the client feel valued as a customer.
Types of ERP
SaaS Cloud ERP software
This type of Cloud ERP software doesn’t need to be installed onto hardware, instead being a web-based solution, where a business pays a subscription for access to the software.
Data is stored over the internet with the software operating on a remote server, allowing around the clock access to the Cloud ERP software from any device. It’s a great service for small business and start-ups that want to standardize their work while keeping costs and overheads more manageable.
On-Premise ERP/Private Cloud ERP
This software is installed directly onto an organisation’s hardware and network, meaning all data is stored directly on the premise. On-premise ERP implementation is often more time-consuming compared to cloud-based solutions.
That said, there are also private cloud ERP systems that installed onto a private cloud sever purchased by the organisation. This is versatile solution for small, medium, and large businesses, although is dependent on the ability to finance an in-house team or work with a partner
If you’re considering upgrading to or using a cloud ERP system then be sure to consider Odoo. An open source ERP system, Odoo ERP provides a range of customization integrated features such as project management, CRM, HR, inventory, sales management, project management, manufacturing, accounting, and more.
Odoo implementation is quick and easy while the ability to customise the software to your business requirements means you can find solutions within your budget. Odoo integration streamlines countless processes through shared databases and automating essential processes, helping to save time and money while keeping your business in a strong position.
As Odoo is an open source ERP solution, there are countless features available to accommodate the requirements of businesses small and large. Even unique solutions are easy to come by, while the pricing remains one of the more cost-effective on the market.