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Benefits of ERP — Here’s What Makes You Irresistible to Acquire One

Whether you are a small, medium, or large-sized enterprise, you must have at least once bumped into the thought of opting for an ERP, and there are chances that the arguable dilemma of how an ERP will benefit you might have stopped you from opting one.

However, uncovering those dilemmas and bringing the actual image of ERP upfront is going to be the objective of this blog. As you read in, you will not only find the answers to those concerns preventing you from progressing with ERP but the neglected benefits you could have acquired had you gone for one. It is still not late, though.

Probable Reasons You Are Not Opting for an ERP

Let’s get your familiarity enhanced with the fences on your way to ERP, and then we’ll get straight to the way we can jump them. However, the problems listed below aren’t all out there. There may be more. It is just the best I could get my hands on:

1. Cost

The tallest fence to jump is the unsought cost. Thanks to the leading ERP brands, people do not even consider going for an ERP because they have standardized ERP as a high-ticket product, which can only be procured and deployed by successful and profiting enterprises. Meanwhile, the reality is the opposite. ERP like ERInsight is exceedingly affordable and offers almost the same functionality as those renowned and cost-driven ERPs.

2. Relax, ERP Won’t Bite

ERP is only for MNEs (Multinational Enterprises), it is a complex and hard-to-get-familiar software, it is a giant, etc are some widely held stereotypes across the world. While if professionally and proficiently implemented, an ERP can be the easiest thing to get familiar with and use. And no! It is not for MNEs only; as I mentioned at the start, all sizes of enterprises, especially SMEs, can avail the underrated advantages of ERP at the earliest.

3. Jobs Replacement

ERP centralizes, automates, and integrates the business processes, and in return, frees those employees engaged with them, allowing you to invest their released time into something graver or new. In short, it doesn’t replace jobs but their descriptions.

4. The Pre-deployed System does Fine!?

Technology doesn’t stop evolving, even for a second. The pre-deployed system might be doing fine or even better but is not an excuse to not opt for an ERP. There are many differences between the software you have and the software to follow; no matter what, one thing is for sure, the latter is going to be better because it is technologically advanced and technically updated.

5. ERP doesn’t Provide Tangible Benefits

Streamlining your business flow, connecting all organizational departments, preventing data duplication, presenting you with pivotal figures and stats, planning, budgeting, predicting, reporting, do these capabilities of EPR not lead to that one and most-desired goal, i.e., profit? Of course, they do, and that is usually not tangible.

Benefits of Opting for an ERP

The debate above might have answered your questions reviving in your mind every time you think of going for an ERP. However, the most exciting part is yet to come, which is the benefits of ERP. There were some of them up in the factors above, but the upcoming are even enticing.

1. Productivity at its Best

Streamlining your business flow, connecting all organizational departments, preventing data duplication, presenting you with pivotal figures and stats, planning, budgeting, predicting, reporting, do these capabilities of EPR not lead to that one and most-desired goal, i.e., profit? Of course, they do, and that is usually not tangible.

2. Invest Once — Yield Always

Acquiring an ERP is a one-time process. It is an investment that you sow once and reaps always. Being a centralized hub and a source of integration, ERP formulates the figures and data into the graphical interpretation, providing you with a clear roadmap to wise decisions.

Moreover, it connects you with your prospects, allowing you to comprehend their needs and cater to their concerns. An ERP lets you plan your inventory, procurement, warehousing, distribution, vendor relationship per the data, which in return saves you a collective fortune, which drags you and your business far away from the red zone.

3. Different Departments — One Team

Unbridged communication among the departments brings about redundant and useless outputs. However, an ERP bridges that communication gap among the departments. It enhances collaboration and empowers the entire organization to work at once, all together for the mutually shared strategic goal.

With an ERP, you can circulate the trending data across the departments, which aligns all the departments with the hierarchical decision, and motivates them to their core to invest their brains, time, and energy in obtaining the preset objectives.

In short, alongside building the team spirit and bringing all employees on a single vision, ERP is one of the best ways to enhance employees’ loyalty. It is Because you are sharing the key insights with your employees, which makes them feel connected and not mere labor hired to do as ordered.

4. A Customer-Centric Approach

Customers are who make businesses successful or a failure. You may have a plethora of spreadsheets having your customers’ information saved into the computers and filling up the memory when they could buy you tons of storage. Buy you tons of storage? What do you mean?

ERP puts that storage-filling information to good use. It lets you create marketing, promotional, or awareness campaigns and use a direct medium to let your customers know what you are offering, launching, and how can it help them? And while it will generate massive profit, you can not only buy tons of storage devices but might even go on expanding your business.

Your business will automatically prosper if your customers are happy with you.

5. On-demand Instant Reporting

Better reporting means better decisions, and better decisions mean better results. Such is the type of reporting an ERP offers you. Following are the reports that an ERP generates; however, it isn’t limited to them only:

  • Financial
  • Embedding the real-time and insightful data onto the page, ERP lets you take a bird-eye look at the financials, allowing you to adjust, allocate, and utilize the capital where needed the most.

  • Production
  • ERP generates production reports as per your requirement. You can generate the reports for batch/order-wise production, production for a month, for a year, or even if you want to compare between the targeted and actual produce, ERP lets you do that right away.

  • Inventory Reports
  • Inventory reports that ERP generates vary from the stock report, quantity inquiry, locational inquiry, inquiry following the raw, finished, or ready-to-dispatch produce, etc.

  • Sales Reports
  • It is pretty much self-explanatory. You can generate the reports ranging from what you sold last month, last day, last year, and the same goes for how much you exported from around the world. There can be other reports; the definition only gives you an idea.

  • Procurement Reports
  • For all the reports concerned with procurement, such as what you have bought or imported locally or internationally, ERP organizes that data in a defined pattern and lets you proceed accordingly.

    Conclusively, these were some of the benefits that an ERP offers you and your business. And like every other tool or software, you might expect its disadvantages as well, which can be the cost of an ERP, training, data transfer, hardware cost, and so on… However, ERP like ERInsight deals with all of those disadvantages like no other ERP. Being a cloud-based business manager, ERInsight eliminates your hardware cost; it is available on a one-off price or retainership module, you can opt for the one that suits you the most.

    The training, however, is free. And given its technological advancement, you can transfer not only plain but compound data right away. Explore more about ERInsight here or request a live demo to witness it all in person.