How an ERP system improves productivity
An ERP system is configured in different ways to achieve the desired business results based on the core objectives, which can determine the level to which it improves productivity in the business. The points below outline some of the ways that an ERP system can improve productivity:
Finance is at the core of every business, and it is imperative that the finance department is operating efficiently. ERP software gives comprehensive visibility into how the finance department performs, allowing management to view the accounts with the full integration of the business’s analytics readily available. This eliminates the need for performance reporting and additional feedback meetings.
Implementing an ERP system can improve your:
- Financial statements and reporting
- Cash flow
- Asset management
ERP systems allow for quick and easy access to information that managers require to make well-informed business decisions, without having to wait for feedback from the relevant departments. The ERP software allows users to define their specific objectives and what their KPIs are, and pinpoint their target market.
Improve Project Management
ERP project management software helps determine a team performance and is able to keep a record of all the necessary details of the business or task. Workflow is centralised at one point to avoid overlapping responsibilities and team confusion. There is no need for employees to waste time searching for information in other areas, with it all consolidated by the ERP system.
The 5 Project Management features of an ERP system include:
- Resource allocation
- Corrective action
- Real-time information access
- Cost estimates
- Change order
Effective Holistic Solution
When ERP systems are implemented correctly across a business, they transform the financial, operational and human resource aspect of an organisation. Companies on the forefront of innovation are implementing ERP software to improve the way data is shared across an organisation, reduce internal costs, increase efficiency, and improve processes across their organisations. An ERP system fits in with any industry, be it retail, corporate, industrial, and even small businesses, assisting with the day-to-day operations of the company, and the ever-changing industry needs.
Bridges Information Gaps Across The Business
ERP systems bridge information gaps across different departments within a business allowing managers to see a more holistic view of companies finances and critical issues. With easy access to all company processes and data, managers can make quick and informed decisions to improve the productivity of the business. The ERP system eliminates time loss and ultimately financial loss, with its ability to provide the necessary information for all departments, in one centralised destination.
Some of the key business issues that are supported by an ERP system include:
- Efficient and professional customer service
- Accurate cash management
- Quality control for every aspect of the business
- On-time and reliable delivery
- Error-free inventory capturing
- Lack of productivity and wasted time
Streamline Your Workflow
Complex business processes take a lot of time. Streamlining is important to maximize earnings, but what exactly does that look like with an ERP system in place?
First, your company needs to examine the existing workflow, from technology to staff to your business processes. Wherever you have redundancy, confusion, or inefficiency, there is an opportunity to streamline with your ERP. Find the pain points and bottlenecks and use the ERPs data and smart analysis to find solutions. Such solutions include automation or implementing new scheduling and workflow monitoring.
Maximize Inventory Management
Inventory management is key to manufacturing productivity and efficiency. Too much product inventory and you’re potentially losing profits. Too little and you’re risking frustrated customers. An ERP system can automatically track and reorder inventory based on historical data and intelligent, automated predictions. It works to track where inventory is, where it needs to go, and when it will arrive, so you never have to worry about stopping work because of missing components. If you run into problems like poor quality, rejections, or late shipments, the ERP tracks it and alerts you so you can find alternative solutions.
Increase Your Revenue
With your workflow, supply chain, business processes, and product inventory working to its utmost efficiency, you may already be seeing increased revenue. There’s still potential for more, as your newly streamlined business has the time and resources to reach out to more clients, create more products, hire more people, or invest in new equipment to do more work. An investment in an ERP system pays off.
How YGL BeyondERP can help SMEs in manufacturing industry to adopt and implement Industry 4.0?
We Help Manage Industry 4.0 Implementation via ERP System
With YGL, you’ll be working with the most experienced professionals in the ERP industry. Whether you need short-term support or resources for a long term engagements, our ERP Consultants have the expertise to help you implement and integrate the ERP system requirement for Industry 4.0. With a core team of functional and technical ERP consultants that are both skilled and certified, we can quickly implement a robust ERP System to maximize the value of your investment.
YGL BeyondERP system applications allows you to enable a seamless workflow from your finance to warehouse and right down to your production efficiency by providing you the essential management dashboard which allows you to have a clear visibility.
As an industry leader in ERP system Implementation, we can be sure that each YGL consultants have the highest qualifications. We provide a wide range of ERP System Integrations with experience ranging from IOT(Internet of Things) right down to Data analytics on OEE (Overall Equipment Effectiveness), supporting all functional modules to complete project management for your project needs. All of our consultants are fully vetted for the project they’re submitted for, which means you’re only reviewing the most qualified consultants who do what you need done.
We Can Help to implement ERP System Integration under Industry 4.0
We look forward to hearing from you. Contact us today so that we can help you with our YGL BeyondERP which is strategy Industry 4.0 ready implementation needs heading towards Industry 4.0.
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