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How your ERP can help your business in challenging times

This blog explores how getting the right ERP system for your business helps you stay nimble and profitable in periods of deep market uncertainty.

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An illistration of a compass pointing to ERP

Given the current unprecedented global economic situation, markets are changing more rapidly than ever. This is undoubtedly impacting your business’ performance and the way you operate.

ERP systems were initially designed as business optimization tools aimed at improving efficiencies, including everything from sourcing - all the way through to your customer service processes. Today, ERP systems still support the business optimization function, but they have evolved into far more. ERP has become a non-negotiable business management tool as most enterprises are unable to remain competitive without a modern ERP deployed.

It is important to understand the ways in which the right technology can actually help your business for more with less. Your ERP system, when used to its full potential, can assist you in proactively taking control of your business’ operational processes with fewer people required than those companies running an outdated or non-industry-specific ERP software solution. Here are a few of the key processes that experience the most significant positive impact from a modern ERP.

Source effectively

Having the right ERP solution in place can ensure that you source the right product at the best price and at the right time. This is key to managing your entire supply chain process and serving your customers better than your competition.

Stock efficiently

Inventory management is a critical part of every business. With the right ERP solution, you can better manage your stock levels through detailed reporting that can help you predict and forecast correctly as well as identify products that perform well and spot those that don’t or are simply seasonal items.

Sell profitably

Selling profitably means everything has to happen more efficiently. This includes quicker follow-ups on quotes, having visibility of a detailed sales analysis to help enable the business to measure margins, detailed forecasting, implementing competitive prices, and much more. This can keep you at the forefront of your market and one step ahead of your competitors.

Service competitively

Selling to a customer once is good, but having repeat customers is key for almost all market leaders. Providing excellent service and support is crucial to continue attracting repeat customers. These days servicing the customer well is where best-in-class enterprises differentiate themselves from the pack.

Your ERP should be able to provide data such as customer profiles, purchasing history, and product knowledge. Greater choice, better communications, and a faster response will help to secure the sale, satisfy the customer, establish a long-term customer relationship strategy, and enhance your reputation.

Ultimately, having the right ERP in place is essential, and having the right ERP supplier is even more so. All of the modules within our system have been developed specifically with industry requirements in mind and will be able to support you in those business-critical areas of sourcing, stocking, selling, and servicing. All this benefit originates from a truly integrated, end-to-end ERP system.

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