7 Reasons Why ERP Software is important for your business

ERP Software for Businesses

ERP software helps businesses manage various functions quickly and easily. It collects business-critical information in a single repository and provides access to only authorized business stakeholders — frontline executives, C-suite executives, vendors, suppliers, distributors, etc. It plays an instrumental role in destroying information silos and brings everyone on the same page.

The following points depict the importance of business management software:

1. It handles back-office operations, thereby allowing employees to perform functions that require human ingenuity.
2. It monitors the functioning of the manufacturing facility and alerts the officer-in-charge should anything go wrong.
3. It allows managers to download rich reports detailing the performance of their teams.
4. It collects essential customer information, such as name, email ID, contact number, address, etc.
5. It maintains a repository of FAQs and provides instant support to customers.
6. It oversees the inventory and places orders for raw materials if the quantity goes down the set threshold.
7. It sends timely reminders, notifications, and emails to customers on the email list.
8. Modern ERP software, such as Sage X3, can be easily integrated with CRM applications, such as Sage CRM, and provide advanced CRM capabilities.
9. It manages all finance and accounting activities and submits detailed reports on a quarterly/monthly/half-yearly/annual basis.
10. It actively manages payroll activities and enables HR executives to focus on other critical matters.
11. It facilitates supply chain activities smoothly.
12. It monitors the warehouse 24/7 and organizes it in such a manner that distribution activities happen appropriately.
13. It provides a single source of truth to all business stakeholders.
14. It conducts data analysis that allows the management to use resources optimally, brainstorm strategies, and forecast how the market will shape in the future.
15. It provides a solid logical framework that enables managers to base their decisions on.

Top 7 reasons why ERP software is important for your business

We live in uncertain times. It’s becoming challenging to estimate how the industry will shape 5 years down the line correctly. Customers’ needs and wants are also changing at a fast pace. The COVID-19 pandemic has only exacerbated the situation. When an envelope of uncertainty engulfs the world, ERP software will come to your rescue.

Here are the top 7 reasons that explain the importance of Business Management Software:

1. It streamlines IT costs

IT systems provide multiple benefits to all kinds of businesses. This reason is strong enough for firms to invest heavily in IT infrastructure. But the majority of times, they overdo their expenses and make net losses. A leading ERP software, such as Sage 300 Cloud, ensures that your resource utilization is optimal, and your IT expenditure is well within your budget. The following points explain how it does so:

1. It integrates different systems into one, thereby reducing the cost to upgrade and maintain multiple systems.
2. It removes redundant systems that no longer support new developments/upgrades and can be easily replaced with better software systems.
3. It puts a cap on the number of expensive software licenses a company has to purchase.
4. It simplifies the end-user training process by leveraging a single, user-friendly interface for executing all kinds of operations. Employees no longer need to invest time and resources to attain mastery over numerous applications.
5. It takes control of trivial jobs, thereby freeing up employees who can focus on other critical issues that require human ingenuity.

2. It breaks information silos and makes a company more agile

Information silos impact the majority of companies. These are glass ceilings that restrict the flow of business-critical information from one department to another. The support team hesitates to share critical customer reviews with the marketing team, limiting the latter’s ability to brainstorm efficient marketing strategies. Similarly, the marketing team provides nil/limited data to the sales team that inhibits the latter’s potential to work at their optimum capacity. And the vicious circle goes on.

Sage 300 Cloud, a leading business management software, breaks information silos and allows free-flow of information across departments. It streamlines workflows, allows better collaboration between teams, and enables the company to function as a cohesive unit. It collects business-critical data from disparate systems and stores it in a single repository. Authorized business stakeholders — frontline executives, C-suite executives, vendors, distributors, suppliers, and customers — can access the repository from any place and at any time. By providing transparent access to information, Sage 300 Cloud makes your company more agile and better suited for delivering today’s customers’ needs.

3. It provides advanced reporting features

Businesses usually have disparate systems that monitor and control different departments, which makes reporting a tiring process as every system runs according to its own rules and standards. Sage 300 Cloud, a leading business management software, integrates different reporting systems into one and provides a simplified workflow. It enables managers to analyze business performance and forecast the changing market trends. Its user-friendly features allow everyone, from frontline executives to C-suite officials, to gain in-depth analytics of their operations. Easy-to-read reports rich with facts and figures allows the management to analyze the company’s weak points, work upon them, and do better corporate planning.

4. It allows employees to focus on essential tasks

The day-to-day activities in a company consist of numerous trivial jobs. Some of them are mentioned below:

1. Filling forms
2. Collecting customer information, such as name, email ID, contact number, address, etc.
3. Preparing payrolls
4. Sending timely notifications and recommendations to customers
5. Creating data-rich reports
6. Publishing social media posts on-time across the day/week/month
7. Tracking blog, website, or social media traffic
8. Generating automatic support tickets enables the customer service team to know the order they should follow while responding to customer queries.
9. Collecting invoices and preparing tax receipts automatically
10. Paying bills automatically so that you get essential utilities — electricity, internet, security systems — without submitting the bill in-person.

Sage 300 Cloud manages repetitive tasks so that your employees can focus on issues that require human intelligence and ingenuity.

5. It improves customer service

Business management software, such as Sage 300 Cloud, can be integrated with Sage CRM to enhance its customer service features. It enables companies to store customer-centric information in a single repository, extract business-critical information from it and allows authorized business stakeholders to access it. The marketing team gathers critical information such as the customer’s likes, dislikes, needs, wants, purchasing behavior, past purchases, etc. that allows them to brainstorm appropriate marketing strategies. Similarly, the support team can analyze critical customer reviews and prioritize their time and resources to attend to angry customers’ needs.

6. It improves data security

In the information age we live in, cyberattacks are drastically increasing. The COVID-19 pandemic has only exacerbated the situation. Hackers are taking advantage of the atmosphere of uncertainty that currently envelops the world. ERP systems, such as Sage 300 Cloud, provide immunity from such attacks. It ensures that sensitive data is shared only with authorized people and unknown external entities cannot access it. It also creates intranet (employees) and extranet (vendors, suppliers, distributors, customers) servers that permit only a group of selected individuals. Further, it ensures that data is edited/updated regularly and is consistent and accurate.

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7. It adheres to regulatory compliance

Governments worldwide are forming strict regulations and are penalizing companies that don’t adhere to such principles. Business management software, such as Sage 300 Cloud, has built-in features that monitor business processes and notify officials if they encounter some deviation. It has a sound system of checks and balances that create and maintain compliance reports. It’s fully automated and hence reduces the cost of conducting regular audits. Sage 300 Cloud conforms to Generally Accepted Accounting Principles (GAAP) principles, which makes it a global package for global reporting.

Take Away

ERP software is a must to survive in today’s cut-throat competition. Automation provides the necessary speed and accuracy to conduct operations smoothly. Executing repetitive tasks enables employees to focus on activities that require human ingenuity. Companies should prepare a list of their challenges and then find the best ERP system that provides solutions to all their problems.

Are you searching for marketing automation software such as ERP and CRM systems to plan your resources efficiently and better deal with your customers? We can help you. At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, You can also write to us at sales@sagesoftware.co.in.

Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.