There are many issues to consider when running a business. Employee happiness, profitability, social and environmental impact, governance and image are just a few variables in the complex equation of building a successful company. It’s key for business owners and managers to strike a balance between these factors in order to appease customers and staff members alike.
Finding ways to simplify certain aspects of operations can make other things fall into place. Here’s how cloud ERP can improve productivity and gains for your business.
Lower Expenses
It’s no secret that spending less money can help a business increase margins. However, there’s no guarantee doing this will lead to the desired result. Although the initial investment in ERP software can be relatively expensive, when correctly implemented, it can save companies fistfuls of money. There are a few ways ERP can cut costs:
- Reduce Labor Expenditures—One immediate payoff your company will likely see from using cloud ERP is a reduced need for staff in certain departments. Your internal IT department will focus more on maintaining and troubleshooting the ERP than the broad array of responsibilities required without an integrational software. This will require fewer dedicated employees, especially since most ERP services provide customers with on-demand support.
- Limited Wasted Time—With a cloud-based ERP, companies can easily identify areas in which time isn’t being managed to its best potential. Limiting these problem areas will allow businesses to pay less in overtime.
- Automate Certain Jobs—ERP software wears many hats. One of the many amazing things this technology can do is automate some recurring jobs—specifically in the accounting and human resources departments.
Make Your Business Smarter with Real-Time Data
ERP software can lower your costs in obvious ways, such as the aforementioned points. However, it can also help business owners find completely novel solutions, and even identify problems. This is because cloud ERP solutions integrate data from across the company, compiling it into one convenient place.
Consider the potential for manufacturing ERP solutions. With an ERP system, a company can do things like spot inefficiencies in warehouse layouts. It’s also applicable to fleet management teams, which can track metrics such as fuel usage. Not only does integrated data help businesses immediately improve daily workflows, it can uncover highly important—but otherwise hidden—trends within operations.
Access Information Anywhere
One of the great advantages about moving your company’s back-end to the cloud is it allows employees to access what they need from anywhere with an Internet connection. This can be a huge money saver for companies making the shift toward a remote workforce, as remote employees will be able to access all key data and information relevant to them in one convenient location.
This feature, however, also benefits companies that don’t have totally remote employees. For example, staff members can access the ERP at a job site—an invaluable tool in companies that need up-to-date information before drilling a hole or knocking on someone’s door. In the past, on-site employees would have had to communicate back and forth with HQ in order to solve an unexpected issue. Now, it’s likely they can find an answer in just a few minutes without having to ask for help.
Departmental Integration Makes Life Easier
Following the old methods for doing business, it’s not uncommon for each department of a company to use different management software. Not only does this lead to confusion and inefficiency, it hampers inter-departmental collaboration. These issues are resolved by implementing cloud ERP software.
Having all your company’s departments on the same management platform allows employees to share information and conduct business with greater ease than ever before. In addition, they will be more capable of helping each other solve issues if everyone is working on the same platform.
Clearly, there are many benefits to your company implementing cloud ERP software. If you want to increase the productivity and efficiency of your business, ERP software is a great place to start.