Competitive advantage is increasingly being driven by technology and as a mid-sized manufacturer; this can mean the difference between success and failure.
Timely, accurate information will make your business more agile and allow you to make the right business decisions to drive your company forward. Without this information your business lacks the insight into daily operations, buying trends and production costs that can cause your company to fall behind the competition.
If you are not sure whether or not your business needs an ERP system, here are 7 indicators that will help you decide.
1. Significant time spent on manual tasks and reporting
2. Use of multiple spreadsheets for tracking and analyzing business information
Managing data via spreadsheets is a very common symptom of an inadequate business information system. It may be a result of having several disparate applications or a lack of applications at all. Although spreadsheets can be very effective and useful tools, this method of managing business data is extremely time consuming and prone to errors. With an ERP system in place, real-time reports can be run directly from the application.
3. Your business operates on multiple databases and applications
4. Limited insight into data collected
5. Your business is growing and product lines are expanding
6. Customer service issues
7. Lack of visibility into your supply chain
Product innovation is happening faster than ever forcing businesses to take a higher level approach to staying ahead of the competition.
A carefully selected ERP system opens up several opportunities to help your business increase efficiency, reduce costs and excel into today’s fast paced, competitive environment. Take a look at these 6 Tips for Successful ERP Software Comparison, Selection and Implementation to begin your ERP software search.