Companies undergoing rapid growth face many challenges, and ERP business software can help them overcome these challenges.
Enterprise resource planning (ERP) business software refers to a class of software that helps companies manage critical business functions through one application. Accounting, finance, and operations can be managed through an ERP, and with the right add-ons, marketing, sales, and related departments.
For a company undergoing rapid growth, an ERP system offers numerous benefits. Here is how the right ERP system can impact your business growth and support it during its critical growth years.
Three ERP Benefits That Support Business Growth
ERP platforms offer many benefits, but the three that offer the biggest benefit to companies undergoing significant growth include:
- 360-degree visibility
- Real time data access
- Automations to enhance efficiency
360-Degree Visibility
Poor visibility into all areas of a company’s data can impede growth. When systems are disconnected, or data is maintained on spreadsheets, there is no easy way to see into each area at once. Nor is there an easy way to connect the dots and draw conclusions from the data. More time must be spent rekeying data into yet more spreadsheets to develop charts, graphs, and other visualizations that show multiple dimensions of significant company data.
With an ERP business system, all major business functions, including accounting, finance, HR and operations, flow into one single system. This enables companies to view all aspects of data. They gain 360-degree visibility into the sales pipeline, for example, and how this impacts financial projects, and budgeting; they can use this information to assess staffing and payroll; and so on. Better visibility into the data improves decision making.
Real-Time Data Access
Another benefit of implementing a robust ERP business system for a company undergoing significant growth is real-time data access. Cloud-based ERPs enable data to flow seamlessly from all points within the company, including remote workers and field service. This ensures that the main ERP is updated within seconds or minutes of when data changes anywhere in the company. The result is faster, more accurate data.
Fast-growing companies often face rapidly changing market conditions. With access to real-time data, they can plan, manage, and grow more efficiently.
Automations for Better Efficiency
Lastly, modern cloud-based ERP systems such as Acumatica feature many built-in automations that can shave minutes and even hours off the workday, freeing up time for other tasks. Reports can be run automatically and routed to a predetermined distribution list. Customizable dashboards enable users to organize frequently used shortcuts and tasks to save time hunting through the system for what they need. Even automations using newer AI-based tools are available, such as text completion, which, like similar tools built into smartphones, simply complete words based on your most frequently used expressions. All these small shortcuts add up to big time-savings for a busy, growing company.
Choosing the Best ERP for Your Business: Work with the Right Consultant
Choosing the best ERP to support rapid growth can be a daunting task. With so many software providers vying for your business, where do you begin?
The right ERP consultant can save you enormous time, money, and effort. For example, Emerald TC has over 20 years of experience helping small to mid-sized manufacturers choose the right ERP for their needs. We can also assist with implementation, integration, and customization as needed. Our process is simple, but the results are dazzling. If you would like a consultation, we’d be happy to schedule a call. Please contact us at (678) 456 – 6919.