How Data from Your ERP Software can Help Your Small Business
ERP software (Enterprise Resource Planning software) is there to assist in your business. They have some specific functionalities. Those functions can record your activities, make statistics out of them and thus suggest you how you can improve your business strategy. ERP gather data about almost everything and which in the end adds to the benefits of ERP in business.
For example, it records employees performances, customers activities, storage conditions and investigate those data. You need to extract the crucial information from them and utilize those afterward.
ERP and Its Functions
ERP refers to business management software. As we said before, ERP assimilates multiple programs under one system. ERP works in so many levels. It starts from the ground and goes to the highest. Considering the data ERP collects we can categorize ERP’s function into six divisions. They are:
- Collecting data related to the human resources of a company
- Keeping records of Supplies
- Taking care of customer relationship which we know by the name CRM
- Scrutinizing those data through business intelligence
- Setting the goal of inventory management
- Watching out the financial conditions of a company
Pieces of information You can Gather from Your ERP
We now know the sectors where ERP works. An administrator or an analyst can easily gather important information from those sectors of ERP. Now let’s see what pieces of information you can gather from the sectors of ERP that helps your business.
Get to Know Your Employees
Before starting a business you need to set an office with your employees. You can not concentrate on the transaction if you have to manage your employees manually. ERP’s HR management saves you from that trouble. It stores every needed information of your employee starting from the name, salary to interests. This neat system is a good start for a business.
Have Clear Idea of Your Production
We know Supply chain management is one of the ERP’s functions. This function gives you information about your goods. This system records the initial amount and amount of consumption of a product. In this way, you will be well informed about the usage of your products. This will inform you of the trends going on in the market and you will know when to add new products to your cart and in which amount.
Knowledge about the Mighty Customers
Customers are the real heroes of your business be it in the traditional market or in e-commerce. And business is all about satisfying your customers. In the case of e-commerce, you deal with your customers differently. Customer Relation management(CRM) is one of the most praised functions of ERP. Because you can have information about your customers interest from this function. CRM can record your customer’s interest simply by following their queries.
This information helps a lot in production. You will have a clear idea on what sort of products you should keep in your store and in which season. This also helps you to fix the way your vendors should act with customers.
Understand the Buyer Persona
ERP provides you with information that helps you develop buyers persona. ERP’s Business Intelligence analyzes the collected data automatically. This analysis informs you about your buyer’s age, gender, geographic placement etc. You will understand trends of different places and peoples from this information. Your business campaigns can be more organized this way. You can launch products targeting more specific people now. Setting inventory goal will be more precise.
The fuel of a business is the capital. ERP is a silent observer of your economic condition. Financial management of ERP brings before you the information of the economic investment behind a product. You may not keep track which product brought you the highest capital or which customer gave you the most amount of profits. Information about your finances is pretty crucial, right?
Be Aware of Your Marketing Funnel
You can never deny the importance of marketing funnel in business. ERP helps you analyze your sales funnel. The system keeps the history of how a potential customer turns into your advocates. If you analyze your funnels you will realize they don’t work in the same flow always.
Such as, in a tropical country you cannot always have customers for a product like a hoody. You will have to wait for a specific season for that. ERP presents this information for you. Inventory management system helps you decide when to bring certain types of goods in your marketplace. At the end of a session, it shows you who is your best customer. Or it can reflect your attention to those who are your best buyers. With this information, you generate offers.
You will know whom you should offer membership card or special offers like platinum purchaser or gold user tags. Thus you can build a bonding with your customers.
How the Information can help you in Business
ERP helps us with all those sensitive informations that a businessman has to keep track manually. Without ERP you may have to take a day off to count your sells, calculate your capital. You may have to go through the huge diaries the customer’s inquiries. You will spend a day in your storage to supervise your supply. At the end of the season, you will sit with pen and all paper records and set a new inventory goal.
But all the labors can be saved with the information ERP provides you. Benefits of ERP is that you won’t have to do anything but the data and analyzed data will be there for you. This will save you all the times and you will be able to utilize the time in setting the perfect strategy for your business.
A number of reliable ERP Software
We discussed the information you can get from your ERP and how they can help you. It is not surprising that you will be eager to know a few software that can help you like this. Here is a list of ERP that you can rely on.
WP ERP is the first ERP solution in WordPress. It was introduced a few years back. WP ERP is famous for it’s powerful CRM (Customer Relation Management) and accounting management.
Sage is ruling the market with its mobile responsivity. It is easily customizable. It can customize ERP functions according to companies requirements.
NetERP is popular among manufacturing companies because of its effective supply chain management and customer relationship management system.
Lawson is in the market for the last 30 years. ERP software is one of it’s the latest addition. This is mostly used in the manufacturing industry. It is widely used in more than 40 countries around the world.
Reviews from Companies Who Use ERP
According to featuredcustomers.com, 129 companies are using Sage ERP software right now. Companies like Avon, Belmont, CBN news are using Sage as their ERP solution.
WP ERP who are in the market for three years now has grown radically by now. 8000+ small business now rely on this system.
E-commerce and inbound marketing are new forms of the marketplace. In this modern era where one administrator has to look after an enterprise popularity of ERP is widening. It’s data collecting and information presenting process are the reasons behind its popularity. You can give this a try if you have been facing troubles in your business lately. If you are a WordPress enthusiast and skeptic about your options then hold the skepticism back. Because WP ERP will be there for you.