Pain Points ERP Systems Solve

No doubt, ERP systems are indispensable tools for all types of businesses that require different tools for various operational tasks. In order to further understand its features, we have compiled some of the many pain points that these platforms can solve:

1. Separate Systems for Related Operational Tasks. Many entrepreneurs find themselves juggling multiple software solutions for their daily business operations. However, jumping from one platform to another can take up a lot of time and doing so can make your operations more vulnerable to the risk of human error. Using an ERP can streamline your workflow by providing all the tools you require in one interface. This makes your daily operations faster and more efficient, all while reducing errors. Moreover, by maintaining one platform instead of separate systems, you can save a lot on operational costs.
2. Delayed Customer Accommodation. Being too preoccupied with back-office tasks leave you little time to concentrate on front-of-house duties. This hinders entrepreneurs and their employees to accommodate their customers’ needs and make timely decisions with regards to their concerns. Eventually, this leads to reduced customer retention as well as slower lead conversions. Through an ERP system, you can leverage the combined power of CRM and project management tools to serve your customers better. These features should give your staff members access to all the information they need to help your clients as promptly as possible.
3. Time-Consuming Inventory Management. Keeping your inventory fully stocked while making sure that you don’t waste any supplies is one of the biggest challenges that entrepreneurs encounter on a regular basis. It is a tedious task that requires great attention to detail. Luckily, with ERP systems, you will no longer have to monitor your supplies manually. These platforms come with inventory management features that will allow you to monitor changes in supply levels as they happen and gauge when to reorder stocks accurately.
4. Fussy Financial Data Consolidation. Money goes in and out of your business daily. If you don’t have an ERP system, there’s a good chance that you are keeping tabs on these numbers using different software solutions. While this may work during your first few years in the business, it can get more and more demanding as your sales grow. This strategy makes bookkeeping and financial tracking exhausting for you and your accountants. With an ERP platform by your side, you can consolidate financial data automatically, so you can review all the information without having to check multiple systems.
5. Data Inaccuracies. Manual paper processes can lead to inevitable typing errors and inconsistencies in your business information. Using ERP platforms, you can eliminate the chances of duplicates and lessen typos. On top of that, you can even reduce your carbon footprint because these software solutions will let you handle these processes digitally. You may even store them in an online database that can be accessed whenever and wherever you wish.
6. Unorganized Team Communication. Collaboration is everything if you want your business to run smoothly. To do this, you will need to have a secure and reliable means of communication. Using ERP systems, you can get access to in-software communication tools that enable you to delegate tasks, facilitate group chats, and accommodate your file sharing needs. This way, you can manage more projects efficiently and be more proactive in your operations.

Why is an ERP System Important to Your Company?

ERP Systems are important to your company because they allow you to streamline your workflow and address a number of pain points in day-to-day operations. With these software solutions at your disposal, you can speed up customer accommodation, eliminate repetitive back-office processes, consolidate data more efficiently, and improve team communication.

Industries That Benefit Most From an ERP System

ERP systems have practical uses for different kinds of businesses because of the many tools they have to offer. However, not all companies require all the features of an ERP suite. So, these platforms may be more beneficial to some industries than others. More often than not, those who can maximize these tools are businesses that tackle multiple tasks every day using different software solutions. Some examples are:

1. Manufacturing. The production of goods for other businesses involves a lot of processes. With an ERP system, you get a better visibility of business transactions and progress of operations. This is because these platforms can consolidate the information from different aspects of your business. This way, you are always in the loop about what’s going on in your manufacturing plant without requiring in-depth reports from your staff on a daily basis.
2. Construction. Other than the actual act of building structures, construction companies also have a number of back-office responsibilities to take care of. This is why they require multi-functional applications like ERP systems. These can help them with project management and inventory tracking as well as accounting and service management. Having such a tool as part of their arsenal of business software can reduce their clerical tasks so they can allot more time for their projects.
3. Logistics. Transporting cargo in a safe and timely manner is a difficult task as it is. It becomes even more challenging when you have to consider the details of each freight you have to handle while gauging the schedule of your drivers and measuring the capacity of your delivery vehicles. ERP systems that are created specifically for logistics often integrate delivery planning and management tools, communication features, and order processing options into one platform for you. It even lets you maintain a customer database so it’s easier to look up finished and ongoing deliveries.
4. Healthcare. Clinics, hospitals, and other medical facilities can get busy, making it difficult for staff members to maintain quality patient care while keeping track of back-office responsibilities. With the implementation of the right ERP software, compiling and organizing data as well as other necessary clerical work won’t take too much time or effort, and the staff can focus on monitoring and treating patients.
5. Retail. When it comes to the distribution and sale of goods to the public, it only takes a simple mistake to ruin the flow of your operations. Countless things require your undivided attention, but there’s only so much you and your employees can do simultaneously. This is where ERP systems come in handy. From coordinating with manufacturers and distributors to tracking shipments and managing inventory, these tools help you make sure that you, your customers, and your business partners are happy.