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How ERP Can Help Businesses of All Sizes
Businesses of all types—including SMEs in Malaysia—have many moving parts. No matter which industry you are in or the size of your organization, managing a business is like being the conductor of a constantly shifting orchestral performance that never ends. It can be stressful.
An Enterprise Resource Planning (“ERP”) solution that streamlines various processes occurring within the business, enhances cross-departmental communications, and creates a culture of transparency can help SMEs to cope in their business. Not only will it make life easier within the organization, but more focus can be put into serving customers better and increasing the bottom line.
ERP: The Basics
But let’s back up. In the simplest sense, ERP solutions can be thought of as tools used by companies to manage and integrate critical parts of their businesses. Some of these essential processes include inventory, accounting, human resources, and customer relationship management (“CRM”), but there are many more potential applications. Ultimately, ERP solutions can be thought of as the glue that binds together all of these business components.
This glue is so effective because it ensures that all your team members are on the same page. While certain departments may have their own systems, all systems can be accessed through a single ERP interface. In practice, this is a true game-changer. It allows your employees to rely on the same data or information when contemplating inventory management, resource planning and other major decisions.
As just one simple example, your accounting department may need certain information from a sales team to tabulate total accounts receivable. In the old days, these employees would need to email or meet face-to-face with those on the sales team, who would consult spreadsheets or notes that were only available to them. With an ERP system, your accountants can simply access a shared database and quickly grab the data that they need. The difference is clear – ERP solutions can avoid miscommunication, reduce stress, and ultimately save time.
Along with this, ERP solutions can enhance customer service. While an ERP solution will not automatically transform your organization into one that offers stellar customer service, it can certainly help. This ability to access all types of customer data on one platform lets your employees deliver customized, personal service. You are better able to track relationships with your customers, whether they are first-time customers or have been loyal customers for years. An ERP solution can offer a 360-degree view of a particular customer’s history and preferences, which can vastly increase the odds that these customers remain loyal customers into the future.
An Extremely Helpful Tool
Regardless of the size or sector of your business, an ERP solution can take your business to the next level. It eliminates internal friction and lets you and your employees see what is really going on within your organization. Simply put, an ERP solution is an extremely powerful tool that you should absolutely consider implementing within your business.