Implementation of an ERP solution for business doesn’t guarantee success for your company. However, if implemented correctly, it can bring some notable changes to your business process. And it will eventually lead to the desired business growth and progress.

Many people remain doubtful about the implementation of an ERP solution in their company. They feel it will increase the overall business management and maintenance costs at the end of the year.

But in reality, the proper implementation of an effective ERP solution offers way bigger incentives than just increasing the company’s expenses.

So let’s find out how some of the well-known brands achieved tremendous success in their business using ERP solutions.

Companies that Achieved Business Success Using ERP Solutions

R.A.S Logistics

A profound appliance delivery service provider was introduced in 1998. It got to expand its business by integrating with the last-mile delivery service when a company needed help with delivering its appliances to Home Depot.

Along with the appliance and furniture sales, Home Depot got bigger, as did R.A.S. Logistics. Over time, more new retail customers joined in, and it started operating from more than 20 locations worldwide.

Challenges faced

As the company grew, many customers began to come to them to deliver furniture, spas, mattresses exercise equipment, etc. And soon it started to operate from a single location to 21 locations. So it became quite challenging for the company to manage each of the separate legal entities at each location.

As sales crossed the milestone of $40 million, the QuickBooks of the company was unable to keep up with the huge number of entities. So it began to crash more frequently than ever.

They were unable to handle the consolidation of the financial statements of all the various legal entities of the intercompany. The manual account processing and its paperwork by the accounting team became quite a laborious task.

Benefits achieved with ERP solution

Thus far, the company has been doing almost everything manually. And very few of the accounting functions were integrated with its core system.

So they felt the need for an ERP solution that could provide them with better data insights, easier consolidations, correlated business processes, and financial statement management.

So they have turned to a Cloud ERP and experienced the following benefits.

• Automation of the whole account management process
• Complete Integration with the financial system
• Real-time data insights and information
• Web-based solution with internal server
• Flexible as the business changes and grows
• No custom programming is required to move the SQL database program
• Faster access to any database they want from anywhere

Global Interconnect, Inc.

A globally-renowned custom-engineered cable assembler, connector, and component providers majorly used for medical applications. Its products are mainly used with electrosurgical tools and devices to monitor critical patients. It has a great reputation for its products having zero failure requirements.

Challenges faced

Even though the manufacturing cost was kept low by its outsourcing drill at the same time it adds a severe complexity and urges for close monitoring of day-to-day operational controls.

As there were limitations in the old system of MRP, most of their tasks needed to be done manually. This made it difficult to manage and maintain as the business continued to rise and the suppliers kept on increasing.

All the account for inventory was being processed manually. The crosschecking of this by other people used to take up hours at the end of each month. Moreover, in addition to this complexity, its accounting application was also not incorporated with its purchasing so the invoices prepared for each order required manual approval.

So, therefore, since it is highly time-consuming and error friendly as a result of that, the company quickly realized the importance of implementing the ERP solution.

Benefits achieved with ERP solution

After the implementation of the ERP system, the company was expecting to get a good return on investment over a few years. But just within the first quarter of the implementation, it started to see a tremendous return.

Since then, they have kept on adding functionalities in the form of new features, modules, and other report-generating abilities. Since then, they have achieved some great success for the company, with added benefits like:

• sales by 50% within 4 years
• Increased total productivity by 25%
• Reduced time spent on Accounting and Receiving by 50%
• Achieved anywhere, anytime visibility
• Able to grow without adding headcount
• Improved employee morale
• Better handling of medical compliance
• Reduced inventory carrying costs
• Automatic generation of shipping documents

LG Electronics

A vastly popular and well-recognized Korean-based home appliances and electronics company With more than 114 subsidiaries and over 82,000 employees across 40+ countries worldwide, the company is certainly one of the most successful names in the field of electronics product manufacturers worldwide.

Challenges faced

Its large number of employees worldwide tried to adapt to the functionalities of human resources. However, its control over locals was lacking transparency, and the maintenance cost was going over the top.

Also, its rise in manual processes, non-proper utilization of its resources, and decision-making inefficiency made it quite difficult for the company to act as a global company. This is what led LG to turn to an ERP solution.

Benefits achieved with ERP solution

It was not easy for LG, for the kind of large-scale business it operates to have a smooth ERP solution implementation.

Still, over five years, the company managed to fulfill its objectives and minimize the challenges professed by its widely spread centers worldwide in the department of human resource management with the help of ERP solutions.

The benefits it got included:

• Minimalistic maintenance cost with a single centrally managed system
• Improved transparency in recruitment & employee assessment program
• Better goal and objective tracking with real-time reporting of the higher management team
• Real-time reporting availability helped in the well-informed decision-making process
• Sounder HR functionality with improved efficiency
• Flexibility for regions to make changes locally due to control over the HR system centrally
• Time-efficient & cost-saving
• Various centers got to share all the best practices easily with each other
• Employees have easy accessibility and self-service capacity
• Enhanced learning process among the employees via the sharing of documents, tutorials, etc. led to time & cost savings
• Boosted productivity, engagement, and morale of employees all over the company

Fuze energy drinks

Founded in 2000, it is a tea and non-carbonated vitamin-filled fruit drink manufacturer. Since the time of the launching of its energy drinks, the company has seen tremendous popularity purely due to its unique and varied flavors with a mixture of vitamins.

Soon, their drinking products started to be known in the industry as ‘New Age’ beverages for all. The company soon caught the eyes of another leading beverage company, Coca-Cola, and was bought by them for a whopping $250 million in 2007.

Challenges faced

Within the launch of its first few years, the business growth of this energy drink producer started to see an uprising trail. So soon, the existing system seemed too outdated to meet the demands of its business requirements. As the business was seeing rapid growth, managing its inventory and stocks became quite difficult.

Production growth also changed based on demand and supply, which made the planning and management processes complex. Moreover, there was a lack of reporting practises, which also led to distress in financial decision-making.

Benefits achieved with ERP solution

As the years passed by, the company kept on feeling the need for an ERP solution implementation. Looking at the initial needs and requirements of the company, I was looking for a cost-efficient, easily maintainable solution. A solution that didn’t have the hassle of computer maintenance.

So the company turned to an ERP solution that is web-hosted and is a certified system suitable mainly for the manufacturing industry.

Implementing the solution provided Fuze with the following benefits:

• Complete automation of inventory management
• Specific modules are available based on company needs
• Full and timely production reports
• Stock and expiration date alert
• Real-time data and accounting entries for better decision-making
• There is no need for any in-house computer hardware anymore due to it being a web-hosted solution
• Easy access from anywhere to the system from a range of devices
• Lowered overall maintenance cost significantly due to off-site computer hosting

Get the best-suited ERP solution for your company today

Up until now, we have established that a successful ERP implementation can have a significant impact on the future of your company. However, it’s important to remember that the ERP solution you choose to use also plays a crucial role in determining the overall success of your venture.

So, therefore, choosing the right solution from the right vendor of ERP providers is also something the company owners should emphasize.

Many companies have achieved success by implementing ERP solutions to manage specific departments like HRM, CRM, or Accounting. However, some companies make the mistake of choosing the wrong ERP solution from the wrong software provider.

One solution for all your ERP needs

If you are thinking about implementing an ERP solution for your company and also looking to have the flexibility of managing your HRM, CRM, and accounting at the same time, then WP ERP is the solution to consider.

The solution comes with three separate modules of HRM, CRM, and Accounting including a separate plugin WP Project Manager to manage all the project management drills of your company.

As mentioned, the suitability of an ERP solution for a company can be a common problem to understand these days. So you might want to take a look at all the features of WP ERP to experience the potentiality of the solution for your company. So here you go.

And if you like its features, then you might want to have a closer look at how it works by choosing all your favourite demo extensions on your WordPress site.

Most case studies suggest that the business success rate of a company increases when you choose the best-suited solution for your company from the best vendor possible. But it is also true that leaving everything on the shoulders of the implementing company wouldn’t be the right thing to do either.

A company only gets the best result out of an ERP implementation when it works hand in hand with its producers.