How to Interpret Data Presented by Enterprise Resource Planning Software
ERP software is a powerful tool for streamlining business operations, automating processes, and providing accurate data management. It brings teams, departments, and organizations together to refine daily operations, improve workflow, and provide valuable insights throughout the entire enterprise.
With specific ERP examples, discover how different departments utilize the data presented by their enterprise resource planning software to enhance business operations.
ERP Examples: Daily Operations
Enterprise resource planning (ERP) software integrates detailed information and key metrics from siloed departments and consolidates it into a consistent, cataloged, and centralized data source that is easily accessible throughout the organization.
If your ERP software is already collecting and processing this data, why not utilize it? By successfully interpreting data, you can track trends and predict patterns that allow your team to make faster decisions, plan for the future, and track productivity.
Here are just a few common ERP examples of how departments can use data to benefit their daily operations and support their big-picture goals.
Customer Relationship Management
A customer relationship management (CRM) tool collects and maintains customer data. From basic demographic information to their email address, customer-oriented departments can use this information to identify sales opportunities, create marketing campaigns, prioritize customer interactions, and so much more.
From employee evaluations to payroll and benefits administration, HR software can accomplish and streamline tasks all in one centralized interconnected application. With data on recruitment, performance, scheduling, and retention, HR can integrate this information into their daily operations to empower employees, manage conduct, and identify HR issues before they arise.
When HR data is directly accessible to the financial department, companies can interpret the data and develop an accurate understanding of how, for example, employee retention can affect the financial health of the entire organization.
With analytics reporting and AI-driven insights, the finance department can use real-time data to analyze profit and loss reports and develop calculated forecasts for a complete financial picture of the company.
Supply Chain Management
Supply chain management covers a wide range of functions throughout the supply chain process. From materials to production, inventory to distribution, with accurate, up-to-date data on daily operations, businesses can streamline production and improve communication. Additionally, connecting data to customers and integrating ERP throughout the supply chain allows transparency and dialogue between your customers and business and gives insightful analytics into areas that may produce inefficiencies and aspects in the supply chain management process that have improved.
Business intelligence into daily operations allows project managers to track progress, organize schedules, and make quick decisions or transitions to benefit their team. With quality data and insights, the appropriate staff can receive a true picture of their projects and make real-time decisions. As a result of this, your team can avoid bottlenecks, complete tasks on time, and stay on budget.
At Local World, we deploy top ERP talent to support your digital transformation, from implementation to optimization.