As businesses grow, managing every operation of a company seems complicated and cumbersome. You need to control processes like finance, human resources, customer relationships, etc. But, streamlining multiple processes, and ensuring a seamless flow of information can be a daunting task. That is when automated solutions like ERP come into picture.
Enterprise Resource Planning (ERP) solution is designed to manage key functions of a company. It facilitates better planning and assigning of business activities. As an ERP solution integrates several business processes, you can supervise every operation. An ERP solution automates superfluous processes, and eliminates manual errors. As it is a collaborative approach, it also enables you to oversee the status of a project.
Following are the benefits of Enterprise Resource Planning software for business:
1.Improved Efficiency
Because you do not have to pay attention to redundant processes, you save a significant amount of time and effort. An ERP software ensures a faster return on investment by reducing time and improving efficiency. If you install an ERP solution, it saves you from manually updating a piece of information. This not only increases your productivity but also eliminates the possibility of human error.
2.Accurate Forecasting
Enterprise Resource Planning software comes with multiple tools and features that help users create accurate forecasts, think ahead of time, and thus plan accordingly. An ERP software gives instant reports on the progress of each task, which ensures you are updated about every business function in real-time. This also aids in faster decision-making at your end. With an analytical report that provides the minutest of detail about a task, you can assess risks and remove irregularities in processes. With accurate forecasting, businesses can make realistic estimates, and hence avoid misjudgements.
3.Scalability
Having a system that can accommodate a company’s growth is paramount. And the right ERP makes it possible! Whether you want to expand your customer base, enter a new market, try out new processes or products, adding a new functionality to an ERP software should be easy. A well-structured ERP software enables the addition of new users and functions to help your business grow with time. When you are ready to grow, enterprise resource planning software can facilitate your growth. At SourcePro, we offer a configurable ERP solution, which grows along with your business. You can add multiple users, customers, and functionalities to our New Horizon.
4.Reduced Cost
An efficient Enterprise Resource Planning software reduces administrative and operational costs through proper utilisation of accurate and real-time information. It allows manufacturers to manage different operations, prevent delays within production, and break information down, thereby enabling managers to make quick and efficient decisions. Businesses can better manage their time and entrepreneurial resources, eventually saving money and gaining maximum ROI.
5.Data Security
One of the biggest advantages of using ERP software is data security. Data is in the centre of an ERP software. Sharing data across multiple channels such as customer service, sales, marketing, business development, etc. enhances teamwork. However, the other side to the data circulating across the organisation is controlling who can see and edit the information. ERP solutions have intrinsic controls to ensure that the business data is protected from cybercriminals. ERP platforms maintain a high level of data security by providing a single input system.
Cloud-based ERP systems offer an extra layer of security. The ERP user data also comes with additional security through firewalls and built-in protection measures. Improved security eliminates the risk of important business information falling into the hands of the wrong person. You can achieve accuracy and safety, both through an ERP solution.
Backed with technical expertise and years of experience, our ERP software, New Horizon can give your business a boost by simplifying processes and offering valuable insights.