If you look at the current scenario of the business world, you will know, it is never easy to keep your customer and employee satisfied.
At the beginning of any startup, handling the business process, finances, and data are much easier for a businessperson. Managing few spreadsheets, monitoring emails send outs and a good website is probably what they all require to keep it going. But as the company grows bigger, they slowly tend to realize the importance of implementing ERP solution in their company.
With the growth of a company, there are a number of things that the business owner need to keep track of. This actually happens in businesses that face rapid growth over a short period of time. So if your company got big enough to realize the importance of resource planning, then this is the time to find out whether your company is ERP ready or not.
Importance & Benefits Of Implementing ERP Solution
Planning to implement your first ERP system? Then you should know about its importance & benefits first.
Out of all the enormous benefits of implementing ERP solution, the most significant one is the way it can help you improve the productivity and profitability of your business. Implementing ERP system is important for almost every type of business. As this all-in-one resource planning software covers most major business purposes starting from inventory to finances, customer/human resource management to operations.
So with ERP solution, all the hurdles of integrating numerous types of systems come to an end. Though the implementation of such system can be expensive and time-consuming. But over time, you will realize the tremendous progressive results that it brings to your business are totally worth the expenses and time you spent behind it.
Major Indications Of Company Being ERP Ready
Your company is most likely to be ERP ready when:-
- The company is growing faster than your expectation
Has your company expanded its business recently? Did it open numerous operational units at several locations? If your company is going through such growth and there is a distinct increase in the volume of production, workforce and business process, then it is probably the right indication that your company is ready for ERP.
Implementing ERP in such conditions will certainly improve the efficiency. This allows the business owner to manage all the changes that occurred due to the sudden growth of the company.
- It is taking too long to find the right information
It is certainly an inconvenience when an employee requires to manage a pile of paperwork. Nobody enjoys keeping note of daily activities or sales of a company manually in such a fast-paced business world. It surely slows down the business process trying to look for the right information when required.
Now when you manage company information with the help of pen & paper, there is every chance for you to misplace that information. This results in wastage of valuable company time trying to look for the information you need. So implementing ERP will definitely help you overcome this issue by automating the information keeping method in the same system.
- Insufficient and inaccurate data affecting your company performance
Due to maintaining company data manually, there is every chance of having insufficient or inaccurate company data. Calculating exact figures is very difficult with such manual method. Not only it provides inconsistent data of figures, but also creates trouble while retrieving your company’s true performance chart.
But implementation of ERP solution takes care all of that. It helps you to store & manage company data accurately. You will always have sufficient data to assess the performance of your company.
- Getting company reports & accounts consumes too much company time
Any idea how much time an employee can waste over manually inputting company invoices, finances & other related reports into multiple systems? This process sucks up a lot of your valuable company time. It happens normally when your company is still dealing these problems with the old-fashioned way working with accounts & financials in several spreadsheets. But with ERP solution, now you can complete such complex task almost without any hassle immediately.
With accounts and reports generating faster with ERP in the same database, your company can now say goodbye to manual data entering, re-inputting fallacious data, transferring data to other systems and information cross-checking. This enhances the company’s productivity promoting less delay in completing the given task on given time.
- Regular mismanagement in inventory, sales & customer satisfaction
With the vast growth of a company, the biggest challenge that it faces is to be able to manage its increase in inventory, sales & customers. Having to manage sales, inventory, and customer individually may arise severe difficulty within the company. In case of stock out for any particular location of any popular product requires proper management. While any customer asking for any particular order or their products whereabouts also needs proper attention. In failure to manage these actions properly may put a serious question mark on company’s reputation & reliability.
But with ERP solution you can always keep your company reputation intact giving the opportunity to manage inventory, sales & customer order better. As it lets you bring these functions to be managed under one database. This certainly keeps you updated with the current information about the product stock, orders, shipments progress, customer queries and much more. You will have peace of mind knowing that all these things are now easily accessible.
What’s More To Take Into Consideration
Appraise the future requirement of the company
Being future ready, foreseeing the requirement of the company is very important. For that, you need to properly assess the information technology of the company. The company owner needs to find out the requirement it has and the essentials it needs in the future to successfully implement an ERP system.
Getting the employee involved in this regards is also essential to get the company future ready. Their requisition of the future requirement in order to implement a successful ERP solution. As this may also come in handy in this case.
Analyze cost-benefit of your company
Try to find out whether the implementation or ERP be cost-effective for the company or not. Also, find out how will ERP help your company manage the business process. It will be a wise idea to do an investment comparison test with the existing system and the new ERP solution as well.
Also, a thorough implementation and training cost needs to be taken into account. These costs might look small in the beginning, but in reality, even this expenses can get from big to bigger.
Evaluate current technology in your company
One common complaint is always heard from companies that, their software isn’t meeting the expectations. This happens purely because you didn’t properly assess the current technology installed in the company. Failing to do regular maintenance and updates could also be the reason here. But in order to be coup up with the modern technology, evaluating the current technology has no alternative.
This helps the company to find out the type of ERP system that can be implemented in the coming years. Without proper evaluation of current technology, even if you are keen on implementing an ERP solution, this will prove to be ineffective for the company.
Nowadays, almost every ambitious company wants to be competitive providing the best services possible. Taking their business to new heights is always their topmost priority. In order to do so, an ERP system plays a big role in leading that company towards success.
The ERP system software can certainly lead your ways to a more cost-effective, sophisticated and most professional looking workplace. And hopefully, the implications discussed above will surely help you realize whether your company is ready for the much useful ERP system or not.
And if you are a WordPress user and you realize the necessity of adding ERP system in your business, then there can be no better alternative than WP ERP to turn your company into one remarkable & advanced workplace for all.
WP ERP is such a tool that allows the company owner to save & reserve all the valuable information related to the business in a single database. With WP ERP, you can easily deal with the company’s product planning, sales, marketing, inventory, CRM, HRM & Accounting related issues hassle free. So if you want to manage all these business entities within the same system, then you would definitely want to:-
For any further queries or suggestions, do not hesitate to leave a reply in the comment section below.