How an ERP system will create value for your business

The benefits of ERP systems have been explored time and time again – and it’s clear why.

As an incredibly powerful asset designed to manage day-to-day business activities, ERP transforms disjointed companies into organised and competitive market leaders.

But when it comes to adding value across an entire company, success goes beyond profit margins. By supporting data organisation, streamlining business processes, and allowing greater management across all departments, ERP adds value to both customers and employees, as well as stakeholders.

So, let’s dig a little deeper and explore the ways ERP create value beyond a healthy bottom line.

1. Manage customer relations

We all know and understand the importance of providing excellent customer service.

For one, customers that are kept happy are much more willing to return and make repeat purchases, and two, they won’t feel the need to spend their money elsewhere, filling the pockets of a competitor.

In fact, 86% of buyers are willing to pay more for a great customer experience, which says a lot in itself. And with the digital world we now live in, consumers can access businesses from anywhere at any time, meaning you must provide an engaging customer experience both online and offline.

Thankfully, ERP systems allow you to do so. By consolidating all your customer data into one location, employees can access important information such as order history and complaints with peace of mind it’s up to date.

The right ERP will make accessing this data quick and easy, ensuring customers aren’t waiting around for an otherwise slow response.

Plus, ERP systems provide you with the ability to divide your client base into high and low value categories. This makes targeting customers with specific marketing material a whole lot easier, improving relevant communications for greater results.

For example, you may want to create a category for ‘low spending’ or ‘single order’ customers and send out a promotional email. The content could be geared up towards reminding them of your business and may even entice them to make a purchase - all without pestering your larger customers.

2. Eliminate waste through every stage of the production chain

Another way to create value for your business is through maximising efficiency, and ERP systems are an effective way to achieve this. By giving your business the tools needed to analyse where you’re wasting resources and where processes can be sharpened, your production chain will be free from inefficiencies.

For example, with manufacturing, there will always be defects, and an ERP can help detect, monitor, and track these by storing all production data.

An ERP system will notify you of any errors or malfunctions, which can then be addressed to prevent and avoid any further issues that will impact the efficiency of production. Quality assessments can also be put in place before materials enter the production line, helping your business limit damage extent, thus saving both time and money.

3. ERPs motivate your workforce to add value

Employees are the backbone of your business. They provide crucial insights into the overall customer experience, have a great influence on one another, and are the driving workforce that get what’s needed to be done, done.

Because of this, it’s extremely important to ensure any system you implement has their best interests and needs in mind.

ERPs offer a fantastic way to boost employee motivation. By bringing new solutions and features to the table, day-to-day tasks can be made to feel less tedious, leading to happier users.

A sophisticated ERP system will also improve processes and workflows throughout a variety of departments, resulting in employees feeling confident with the capability of:

• Having easy access to information stored in a single database for quick data retrieval and lookup.
• Sharing real-time data that is essential to their job role with the correct stakeholders
• Streamlining inventory management, accounting, customer management, warehouse management and order entry with an all-in-one solution.

In short, ERP provides the functionality and features employees desire, helping them carry out their role within the company with great confidence and motivation.

Add value to your business with expert ERP solutions

At Nolan Business Solutions, we specialise in providing tailored NetSuite and Microsoft ERP solutions for businesses looking to grow. As an award-winning NetSuite partner and accredited NetSuite Solution Provider, we have the expertise and experience needed to recommend, deliver, and maintain the very best software solution for you.

If you’re looking to add extreme value to your business and take things to the next level, contact our team of experts today. We are more than happy to answer your questions and would love to support your business through 2022 and beyond.