Many small and medium-sized companies often wonder whether they need an ERP system. Managing day-to-day activities is already overwhelming, and implementing a new system across the business can be a daunting challenge. After years of struggles, when things are finally stabilizing, and your business is seeing some growth, getting orders, making a profit, and generally doing alright, why invest time and money in a new system and risk disrupting the status quo? In the beginning, companies can do this by relying on spreadsheets and emails to manage their logistics. However, manually handling logistics can become tedious and eventually hinder the growth of the business. Failing to keep up with customer demand can be damaging during a crucial growth phase.
To mitigate these risks and move on from age-old silos towards digital transformation, organizations can invest in Enterprise Resource Planning (ERP) software. This software can integrate various business activities into one platform, thereby simplifying processes and enhancing the organization's flexibility. Multi-faceted ERP software utilizes a unified database, which can significantly improve response times to clients, increase operational efficiency, and ensure customer success.
Why do companies NEED ERP Software?
While some companies may still resist the idea of implementing an ERP system due to the perceived high cost, lack of time, small size, or reliance on spreadsheets, most ambitious and forward-thinking businesses recognize the benefits that an ERP system can offer them. Still not convinced? Here are 7 major reasons to invest in Enterprise Resource Planning Software.
Optimize your business process
Automating your business processes with an ERP software automation tool can help you eliminate redundant and labor-intensive tasks. Instead of relying on manual processes, you can replace them with efficient automated alternatives. This will allow you to redirect your staff’s efforts towards more valuable tasks that can help optimize your company’s productivity. ERP software offers productivity tools like document management solutions, email integrations, and CRM technology. These tools collectively improve customer service and enhance industry reputation.
Standardization of Software
When an organization's business processes are managed through different applications, it can create confusion in data transfer, lengthy processes, and security vulnerabilities. With an ERP system, all these processes are integrated into a unified interface. This simplifies data access with a centralized dashboard and features like access control and enhanced data security.
Increase Customer Retention
It is more cost-effective to retain current customers than to always try to acquire new ones. However, acquiring new customers is necessary for growth. Therefore, it is important to keep existing customers with an exceptional experience. With ERP software, you can communicate with your current customers through multiple channels and respond to their concerns. This will help nurture their loyalty towards your brand, increase their lifetime value, and ultimately boost your revenue.
Faster Response Time
As your business grows, it's important to distinguish yourself from competition by providing excellent customer service. This can be achieved by ensuring that all your front-line executives and sales team have access to all the necessary information from all the departments. To achieve this, it's essential to integrate your systems into a centralized unit. While many companies already use accounting software, the lack of integration with other business processes renders them ineffective. Most ERP software, on the other hand, comes with built-in accounting features that eliminate the need for manual data entry and duplicate work.
Reduce Costing
Managing large amounts of data using outdated technologies can be labor-intensive, difficult, and costly. Moreover, managing data through disconnected, standalone solutions and manual processes increases the risk of errors, which can be quite expensive, especially if they go unnoticed for an extended period. Integrating your workflows with ERP software can help minimize the risk of data management errors. If any team member makes an error, it becomes easier to detect and correct the issue once your workflow is integrated. ERP software further safeguards your business by automating manual processes, which reduces the possibility of errors.
Mobility and Flexibility
ERP software integrates data from various departments in an organization into a single, unified platform. With the rise of modern workplace trends like Bring Your Own Device (BYOD), it is crucial to consider flexibility when investing in enterprise software. Today, ERP solutions can perform multiple functions by utilizing a centralized database to provide accurate information to any user, anywhere in the world, and on any device. Remote access to critical data saves time and effort while ensuring quality work is delivered within deadlines.
Fuel Short and Long-Term Growth
While on-premises solutions may help solve immediate problems, they cannot adapt and grow as the needs of your business evolve. They may facilitate short-term growth but rarely stand as viable, long-term options. On the other hand, the cloud-based nature of ERP Software gives it the ability to cater to both short- and long-term growth. Its technology is continuously being improved and adjusted to meet the needs of businesses in the ever-changing modern marketplace.
Increase the Value of Your Company and Grow
As your business expands, it becomes imperative to utilize technology to manage and regulate operations while also staying ahead of the competition. If your business is ready to take the next step in its growth journey by deploying ERP software, all you need to do is find an experienced ERP development partner.
Evon Technologies Pvt Ltd is a Salesforce development company in India that can aid you in transitioning from traditional silos to digital transformation, which will be crucial for the future. For more information on how to get the most out of your ERP investment, contact us today or drop an email at This email address is being protected from spambots. You need JavaScript enabled to view it.
