Enterprise Resource Planning (ERP) is without a doubt a useful tool for businesses. It offers numerous advantages as it helps improve business operations especially when it comes to the collection, storage, management, interpretation, and presentation of business data. It creates an integrated view of the primary processes of a business operation. However, ERP can do more. With effective implementation, it can also become a useful tool in helping a business grow through better business intelligence.
The following are ways through which ERP can enable business growth or development.
- Efficiency
Efficiency is a key advantage of using ERP tools. Because of ERP’s ability to integrate a multitude of information pertaining to various aspects of a business operation, it leads to a system that enables the better control, supervision, and management of business processes. ERP unifies and automates record keeping, storing, and presentation for various business activities including product planning, manufacturing, inventory control, marketing, sales, shipping, and payments. This leads to more efficient business supervision and management as the communication and collaboration between business units and sites are enhanced.
Efficiency makes it easy to pursue expansions or business growth as it becomes easier to plan, track, and control resources, expenditures, as well as the selection of efficient options and processes that will benefit the growth of a company. Efficiency leads to better operations that warrant expansions or new but related ventures.
Moreover, efficiency improvements in business processes or a marked improvement in the overall operations of a business can lead to better customer relations management. Great customer relations can be a significant contributor to business growth.
