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ERP & Growth: Why Is It a Must?
Across all sectors and industries, today’s business environment doesn’t leave any room for stagnation and staleness. In fact, businesses not in a state of constant growth and expansion are all arguably considered failing or, at best, old-fashioned and too conservative. Therefore, being successful in such an environment necessitates a will for growth and a practical plan and infrastructure enabling it to realize that will.
In this article, we’ll discuss why businesses may not grow as they should and how ERP helps businesses grow.
Business Growth Barriers
Companies and organizations of almost any size and scale have some form of a department either actively or unsuccessfully, engaged in or dedicated to the business’s growth and expansion. However, not all of these departments are working to their full capacity, primarily caused by two problems, which will be discussed here below.
Lack of Direction
Without a clear-cut vision and the right tools to execute that vision, development and growth is much more complex than it could be. A common misconception is that only relatively large enterprises require a more systematic development approach. The reality is that having a well-defined objective, as well as efficient planning and management of resources, will go a long way in achieving goals faster, no matter how big or small the organization.
Legacy Infrastructure
It’s been decades since the advent of ERP (Enterprise Resource Planning) systems in businesses as tools that help companies efficiently manage resources and access helpful insight and information on overall performance and direction. However, being fixated on one or a couple of aspects of their functions has led their users into treating them as mundane and routine parts of their day-to-day work.
Most companies have some form of legacy automation or ERP system in place. Some of these systems are still being used and updated regularly for the benefit of the organization’s requirements. But many of them have slow and unnecessary trouble-making software that’s near useless, if not completely obsolete.
The fact of the matter is, if companies were to continue utilizing their legacy ERP systems without any changes, their future would be more of the same, ho-hum business as usual, without any prospect for growth or any new development. In order to achieve meaningful advancement in any industry, it’s vital to truly comprehend the requirements of the day in your sector and act compliant with those needs. Replacing the old system with an agile ERP capable of solving problems forthwith is critical to reaching sustainable business growth.
How ERP Helps Businesses Grow
As a system with the potential to assist with managing resources and the flow of reliable information efficiently, ERPs can contribute immensely to the growth and development of any organization. A potent, well-managed ERP software can not only connect people within the organization for communication efficiency, but it also has the potential of creating a working environment that harbours more creativity, productivity and success.
Assimilation & Synergy Among Departments
An ERP solution’s primary task is to create a shared space where all departments inside the business can work together as an efficient unit. Timely and well-directed access to the flow of tasks and information at all times helps all the components of an organization to function seamlessly towards the clear-cut objectives obvious to all members.
This objective connection and assimilation of tasks on a unified and comprehensive platform will also help executives to acquire a more transparent view of their organization at all times, providing them with a valuable standpoint from which decision-making can become significantly less challenging.
Mechanization of Routine Procedures
Increasing the efficiency of each individual within the organization will inevitably impact the overall performance of that entity. Every day, a great deal of time and energy is exerted into tasks and missions that, although crucial, don’t necessarily contribute to the organization’s growth. What makes these tasks and missions more troublesome is that assigning them to personnel who’ll be fulfilling them manually will inevitably induce needless wastage of time, energy and efficiency.
ERP is the magic solution! It automates and mechanics these day-to-day tasks and missions, freeing up valuable time for the workforce to be in a position to more efficiently contribute to the growth and expansion of the organization. They’ll be doing what they should be undertaking - focusing on the core pillars of the business toward generating maximum revenue.
Helpful Insights in Real-time
Working with a reliable ERP that covers all aspects of your business provides you with the opportunity to accumulate valuable information. This data will then, in turn, help you assess and understand not only the status of your own business but also the requirements of your clients and the areas where you need to put more work.
Even though many organizations are more than prepared to spend significant chunks of their development budget on studies to obtain insight into their business, with an efficient ERP, you’ll have at your disposal all the requisite information for growth. The ERP will also assist you monitor and evaluate the degree of success (or lack thereof) of your plans and objectives throughout the process.
In fact, probably the most valuable takeaway of an ERP system implementation is the organization’s leaders will likely have a more holistic understanding of their company and how it works, where it’s headed, and how to plan and execute based on its roadmap.
Professional CRM
What sustains and expands the success of any organization is ultimately, and above all, the degree of satisfaction expressed by its clients. In many organizations, most interactions with clients are conducted through representatives ambiguous or not fully informed on the requirements and demands of clients. Hence, it is crucial to keep on top of such relations with a laser focus and handle it as the most delicate matter that it is.
A comprehensive ERP system has the potential to help you implement a more efficient CRM. This is achieved through constant access to information and insight on each customer’s behaviour and requirements, predicting upcoming hiccups or issues and being able to swiftly tackle them.
Keeping in Touch at All Times
A significant takeaway from the global COVID-19 pandemic for all business leaders has been to understand the need for a comprehensive system enabling them to keep track of how each task is being handled. ERPs solve this issue by providing executives with the means to be in the know at all times, empowering them to make informed and timely decisions to enhance the growth of their business.
Implement ERP & Start Your Growth Now!
It’s safe to state growth for any organization is only achievable through practical planning, efficient management and systemic monitoring. ERP helps businesses grow by freeing up their time, resources, etc., allowing them to focus on the core aspects of their business toward generating maximum revenue.
We at IMTS offer a wide range of ERP solutions tailored to your operational requirements and budget. Please contact us to receive more insights and the peace of mind you deserve.