The Benefits of ERP Software
Find out more about the advantages and benefits of ERP systems for businesses.
ERP software (or enterprise resource planning software) allows you to manage key areas of your business within one system, including accounting & finance, inventory & supply chain, project management and more. This can help your business through improved efficiency, 360° visibility across the business, resource management, communication and reporting.
So, why use ERP in an organisation? Here we look at some of the key NetSuite ERP benefits and advantages. Naturally, every business is different, but this will give you a better idea of ERP pros and cons for businesses, to help you make the right decision for your team.
How ERP Benefits Business Processes
With ERP software, you can seamlessly link all your business processes together in one unified system. This means that your organisation can become more efficient, and different teams and departments can easily communicate with each other and share data and reports in real time.
Let’s look at these ERP software benefits for business processes in a bit more detail below:
The Advantages of ERP for Businesses
Using an ERP system, such as NetSuite ERP, brings many benefits for businesses of all sizes and sectors. Here are some of the main advantages for a business of using ERP:
- Seamlessly link all your key business processes
Historically each department in a company would have their own separate system designed to complete their own tasks, resulting in inefficiency across the organisation and poor communication between departments. ERP software eradicates this problem by linking your key processes in a single solution, which means better communication, improved efficiency, fewer costly errors and less time and money spent on training. - Increase productivity with automation
ERP systems can help to save employees time by automating certain processes and tasks. By automating (or even eliminating) repetitive tasks that were previously done manually, ERP frees up your employees’ time to focus on important projects and minimises the risk of errors. - Get easy, real-time access to key business data
Having your business processes linked means it’s much easier to get a comprehensive view of your business and customers. Since the data is available from a single location, it saves you having to search through different systems and spreadsheets for the information you need. It’s also available in real time, from any device, anywhere, so you can make better-informed business decisions, knowing you’ve got all the information you need. - Improve efficiency and data management
The problem with working with several different data sources is that the same data often has to be entered multiple times, increasing the possibility of errors. When everyone is working on the same system, efficiency is improved, and the number of errors is reduced. - Get powerful reporting and search capabilities
ERP software provides incredibly powerful reporting tools and search capabilities because it incorporates all key business data from across the whole organisation. This means, provided you have the access rights, you’re able to locate any type of data you need from any department quickly and easily. You can then create accurate reports on key aspects of your business such as financial projections and customer satisfaction. This leads to improved information sharing and decision making. - Improve customer service
With ERP, specifically the CRM aspect, one major advantage is that it can provide a 360 ° view of your customers and their journeys. This enables you to provide the most relevant support and communication at each customer touchpoint. Automate marketing and emails, track your customer lifecycle and manage renewals, upsells and cross-sells.
Cons & Disadvantages of ERP
While ERP software advantages are clear, an ERP implementation is a major undertaking, so it is vital to also consider the disadvantages and potential challenges of ERP software before you make your decision.
- Cost – An ERP system is not cheap, but NetSuite ERP’s ROI, even in the short term, makes it an investment, not an expenditure. Cost considerations aside from the software include: training, support, add-ons and maintenance.
- Time – Although NetSuite has one of the shortest implementation times on the market, depending on the complexity of your business, ERP system implementations can take time. Accurately scoping requirements, defining existing processes and data sources and having a clear view of what you want to achieve will help to reduce that time. But the time investment will pay dividends in the long run, as ERP systems improve business efficiency, communication and decision making.
- Training – Your staff will require training in how to use the new ERP system, and this needs to be tailored both to business processes and to the needs of each department/role within the organisation. Well-planned change management will help end users in a smooth adoption of the system.
- Data migration – NetSuite ERP seamlessly integrates with other business systems, however there will always be data that needs to be migrated. This can take time to complete. If this is not done properly, it could result in delays to your ERP implementation.
What Types of Businesses Will Benefit from ERP Implementation?
In our 20+ years of experience, we have worked with businesses around the globe and across all areas of industry to develop ERP solutions tailored to their needs. Here are just some of the industries and sectors that can benefit from using ERP:
- Manufacturing
- Warehousing and distribution
- Retail
- Fashion and apparel
- Software and IT
- Professional services
- Media and publishing
- Food and beverage
How Can NoBlue Help with Your ERP Software?
NoBlue has extensive experience helping customers implement cloud-based technology that transforms business processes and eliminates duplicated effort, resulting in more efficient teamwork, increased productivity and higher profits. The ERP software we offer is NetSuite ERP. As a 5-star solution provider, with a team of certified NetSuite consultants and developers, we have the knowledge and experience to implement ERP in all areas of industry