The recent research projected that 25% of the business organizations look to invest in a modern ERP system, therefore, organizations are compelled to be a part of this trend. The investment in a trendy ERP system provides value and benefits system with optimize ROI. Modern ERP systems are designed to meet the business challenges of current global market requirements. The ERP should be able to scale business purposely built for the cloud, support mobility, real-time centralize information accessibility, backup and recovery, for predictive and smart results, and much more.
Business organizations often execute tough decisions on managing operations in their business organization. ERP has altered pretty drastically in the last few years, hence even if you feel like your system is working just fine, the investment in a modern ERP system give impetus to the daily business operations and overall business outcomes. Let’s look at the significant factors compelling mid-sized organizations to go for ERP:
Factor #1: Reduce Costs
Around 50% of business investments are being executed by the mid-market to minimize the costs. Through accurate, real-time information about daily operations, organizations are able to make faster, smarter decisions which permit them to diminish operational costs by 23% and administration costs by 22%.
ERP system is actually cost saving for your organization, as it unifies various different systems ranging from product development, supply chain management to IT support, management and much more. This generates cost-efficiency and enhanced business processes. Moreover, the organization saves money via eliminating the need for different skilled users to be trained on different systems. All user get trained and accustom to a single system.
Factor #2: Streamline Processes
Why should one use technology? 1/3rd of mid-sized organizations depend on technology to streamline and accelerate processes, guide users via complex tasks, maximizing operational efficiencies, eliminate data re-entry, empowering self-service, and more. With enhanced productivity, order tracking, and decision making, mid-sized the organizations are using modern ERP systems which are able to increase on-time deliveries by 24%.
Factor #3: Manage Growth
As stated above, mid-sized organizations are focused on how to expand their business, therefore managing growth is critical; hence 28% of tech spending in these organizations are aimed at managing business growth. Latest trendy ERP systems are web-based that process oriented with the capability to scale, expand, and grow with a business. Mid-sized organizations who deploy modern ERP systems are able to enable change and grow operating margins by 21%.
Factor #4: Adapt to Global Markets
Watch !where is your business going ? Where do you wish to take it in the future? The technological advancements in ERP make global business possible, also mid-sized business organizations take advantage of that. Actually, 21% of investment decisions in the mid-sized market gets executed to help organizations adapt to the global market. Having the right ERP system, organizations can scale to multiple locations and multiple organizations with a single solution, this simplifies the process, connecting the global world.
Moreover, the organizations who adopt new technology are able to increase respective competitive advantage via rendering customers with fast and impressive service. They are able to fetch customers where they are and where they want to be (a significant factor of customer service that is crucial in today’s mobile world).
Factor #5: Enhanced Collaboration
The business functional features of the ERP applications may differ depending on the program that you are using, but, all of these systems permit you to collaborate, share and edit data as well as to enhance security and access. There is no need to merge information from various systems or sources. When whole data is compiled, shared, saved, and accessed via a single system, this reduces the probability of inaccuracy, securing data.
Factor #6: Smart Intuitive Analytics
The right ERP make system simple and easier, generating faster reports, this includes everything from income and expense statements to customized reports based on trends and metrics. The ability to have accessibility to these reports rapidly permits you and your team to execute better decisions quickly, eliminating the dependency factor.
Factor #7: Profound Productivity
The organizations may carry redundancies in operations, without ERP, organizations would have wasted a lot of time handling and resolving repetitive tasks, manually. This may lead to a negative impact on the business. An efficient ERP capable eradicates the time wastage leading to a positive impact on the organizational productivity, efficiency, and overall business profitability.
Factor #8: Satisfied Customers
An ERP system is a software solution that executes various business operational tasks associated with the processes, inclusive of lead generation and customer acquisition to late-phase customer service, enhancing customer retention. This empowers effective and efficient communication at all stages of the business process, enhancing transparency in the system.
Factor #9: Efficient Regulatory Compliance
The business organization is like most other organization, spending a considerable amount of time to comply with regulations in association with the Federal Information Security Management Act, and many others.
Factor #10: Improvised Inventory and Production Management
For any business organization to have an inventory and a production process in place, ERP plays a vital role, benefiting organization with the enhanced management. An efficient ERP simplifies the task, minimizing overages, enhancing production, delivery schedules and more. Such simple and easy approach optimize the business.
Factor #11: Real-time information
The good ERP system provides business organizations with the real-time data accessibility as per the business-specific requirements. It is common that business leaders and decision makers take decisions based on data which reflects “right now” moment theory. Smart intuitive and predictive ERP systems capable of pulling real-time information, letting business opportunities.
Factor #12: Efficient
ERP system in place embeds efficiency as a built-in feature, as the ERP systems put logistics in place that help an organization gain efficiency.
The business organization who aspires to scale and expand globally, it is imperative to get upgraded to the business-specific ERP system.
In case you are looking for on-site or a web-based ERP consultancy to have a better understanding of the top solutions in the ERP market contact WebBee solutions and request the free demo.
At WebBee, we provide an enterprise, customized, scalable, secure ERP integration tools and pioneer customize solutions. Our capable novel strategies enable businesses via reaching out to various marketplaces with our cutting-edge integrated eSolutions. Our dedicated team works seamlessly for deploying and maintaining complicated business-specific integrations. Our core mission is to empower business-fit platform independent applications for collaborating and connecting marketplaces, at the global level.