8 Reasons ERP Is A CEO’s Greatest Companion

PostedOn: 2017-07-19 11:04:48

Some CEOs may look upon ERP as just a business management tool that keeps things running in the background. However, today’s more savvy CEOs are fast recognizing ERP’s ability to considerably transform their businesses and add exponential value and earnings. Here are some of the reasons CEOs are turning to ERP to innovate: 

Control

ERP means better and more efficient controls. This ensures the entire organization has accurate and real-time information, and assists management to maintain a firm grip on operations.

Dashboards

Every CEO needs a consolidated and complete quick and easy reference of where their business is currently standing with drill-down capabilities. ERP provides critical information fast and naturally. Stats such as weekly sales, employee performance, and inventory levels are all examples of items quickly available, showing real-time growth or changes in the business.

Reporting

What CEO doesn’t want instant and accurate information available around the clock? When sharing information with groups like management, shareholders, boards of directors, ERP provides easy access to all information, making fielding even the most advanced questions simple.

Changes

ERP delivers a single source of truth and a clear view of exactly what is going on in the business. This is vital for any CEO implementing changes, regardless of the circumstance. When integrated with CRM, the ERP-CRM capability gives a 360-degree view of the business. 

Decisions

ERP gives a lone integrated view of the business and provides transparency across all departments. This means consistency and coherence in all operations, and assists in faster decisions in response to challenges, opportunities, and market trends.

Cash Flow

ERP greatly improves efficiencies, specifically in areas of the business like supply chain management, inventory control, and forecasting. Access to this information can help free up vital capital that can be better used elsewhere to fast-track growth.

Customer Experience

A happy customer is a loyal customer. ERP streamline your business, resulting in improved service levels, accelerated response times, and ultimately a more satisfied customer base.

Scalability

The real-time information ERP provides increases an organization’s capability. This can mean scaling operations up or down in response to demand, making it easier to plan and ensure the business performs as efficiently as possible.

ERP is a toolset that goes beyond management – it helps everyone in their individual roles and day-to-day operations.  A well implemented ERP system will provide benefits that can support overall goals and objectives in running a business.