Using the right enterprise resource planning program can provide benefits for more than just the employees and managers who are on the work floor, making and handing the products essential to your business.
While the increased efficiency realized through ERP implementation provides a variety of time-saving features for front-line workers, like the application of a barcode inventory system and alerts about stocking levels, the improvements aren't limited to the warehouse. The ability to share and analyze information from different departments means that significant financial efficiencies can be realized by employees, from direct managers to CFOs and other top executives.
Technology news source ITWeb recently provided some examples of how high-level staff can also benefit from the use of ERP, specifically in terms of growing revenue and hitting profit benchmarks.
The ability to track production, finance and more
The best ERP solutions tie together data from various points across an organization and create useful informational streams that can be used to seek out efficiency and reduce waste. A report from Aberdeen Group shows that the biggest driver of companies deciding to use these programs is a lack of current data about business operations. Additionally, the third most common factor for the selection and use of these programs is the general drive to reduce costs.
Because ERP provides access to a variety of real-time data, managing the various cost-related aspects of a business becomes easier. CFOs can make executive-level decisions related to company finances, like setting manageable amounts of inventory and making adjustments based on peak times and periods to put resources where and when they're needed most.
ITWeb also points out that the detailed and impartial information provided from ERP systems can be used to back up the large-scale decisions made in the boardroom. When other executives need to be convinced of the efficacy of a solution, in-depth supporting data can make a big impact.
A modular solution
Companies that want to get the most out of their ERP should consider an easily customizable system like Microsoft Dynamics NAV. Modules can be added to the base program to increase functionality, based on the individual needs of a business. This approach can maximize the return on investment provided by such software, leading to increased savings and more streamlined and personalized data being provided.
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