Time is money — that’s why business owners will do all they can to streamline processes, saving time and resources wherever they can. There are a number of solutions out there that can help but, in the manufacturing industry, ERP software is the standout solution. Here, ERP software provider Datawright explains what it is and how it can benefit you.
What is ERP software?
Enterprise Resource Planning (ERP) software is a form of integrated business management software that helps centralise core processes. By acting as a central bank of business-critical information, your business’ key processes can be streamlined and made more efficient. This includes:
- Customer Relationship Management (CRM) — ERP software helps you store key client contact information, keeping record of existing and past communications.
- Financial Management — The software gives you greater visibility of your finances, including assets, cash flow and accounting.
- Project Management — Get a 360-degree view of each of your projects, gaining visibility of timescales and budgets.
- Business Intelligence — ERP software delivers greater business intelligence through simplifying reporting and analysis.
- HR Management — Use the software to identify recruitment opportunities to support business growth.
- Stock Control — Understand current stock levels and maximise your existing assets to free up your cash.
- Traceability — Each product and process is fully traceable from beginning to end. It gives you the visibility to identify opportunities and implement solutions to minimise waste, rejections and costs at the earliest point.
Benefits of ERP software
As we’ve already touched upon, ERP software has numerous benefits. We’ve outlined some of the core advantages below:
Visibility is crucial across businesses of all sizes. By enabling traceability across projects, having a clear bank of key contacts and ensuring everyone is informed, breakdowns in communication can be avoided. Access controls can be implemented to limit this visibility on a need-to-know basis, ensuring business-critical data remains in safe hands.
Because the ERP software is a centralised solution, you don’t need to wait for one department to update a spreadsheet before a report can be generated. Rather, the software offers real-time data and reporting functionality, meaning you don’t have to leave your core business decisions to chance. You remain fully informed over all aspects of your business.
A key benefit of ERP software is its ability to streamline processes. By reducing the time you spend reporting, monitoring the supply chain or your internal processes, a sleeker way of working can be established which gives you more time to spend on business-critical activities.
Ultimately, ERP software is the only choice for manufacturing businesses looking to improve their working efficiencies. A spreadsheet simply won’t cut it!