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Industry Insights

5 advantages of using an ERP system

With one report suggesting that the ERP software market is expected to be worth £27 billion by 2020 and Price Waterhouse Coopers (PWC) predicting a doubling in cloud-based ERP investments by the end of 2016, now is the time for your business to invest in a fully integrated solution. Need convincing? Here are 5 advantages of using an ERP system.

  1. You can go paperless

In one of our previous blog posts about how to sell profitably, we revealed that every 12 seconds a large document is lost in a large organisation. If this was the case with your business, it would seriously affect your day-to-day operations. What if you lost a customer invoice? Or misplaced the spread sheet detailing your inventory levels?

ERP software enables you to store documents online, keep them secure and to organise them in a more efficient way. Also, in the event of a fire, flood or other natural disaster, your hard-copy paperwork would probably be destroyed. Storing your documents remotely via the cloud means that they are protected.

  1. Everything in one place

Using a fully integrated ERP software means that you can get a complete overview of your business all in one place.

Business functions such as warehouse management, stock control, delivery management and more can be managed using the software, giving real-time updates to your employees at all levels.

  1. More informed business decisions

Do you use different front and back end systems for your separate departments? Having multiple data sources can cause havoc when you’re trying to manage your business effectively.

ERP software allows you to have all of your data all in one place, so you can make more informed business decisions. No longer would you need to spend precious time collating data from your various systems, you can simply generate reports at the click of a button.

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  1. Increased customer satisfaction

Customers like accurate delivery dates and to know whether the item they want is in stock. You don’t want a situation where a customer contacts you to enquire about their order and you’re unable to track whether it is in stock or been shipped.

With the increased visibility and control which comes with an ERP system, you can give them that information. Combine that with a seamless omni-channel customer service experience and your customers will continue to return.

  1. Cost savings

Naturally by integrating all of your business functions into one system, your business will become more efficient and therefore you should see a reduction in operating costs.

In addition, although on-premise ERP still accounts for the majority of the market, cloud based ERP systems make for a cost efficient alternative. Cloud offers low investment costs, plus you will reduce the maintenance and purchasing costs of IT hardware needed on site.

Do you really need an ERP system?

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