Are you looking for new ways to cut operational costs and make your business more efficient and responsive?

An enterprise resource planning (ERP) solution can revolutionise how you manage inventory, processes and people. It can also pay dividends long into the future.

Here are ten ways your business can save money by installing an ERP solution.

1. New ways to organise and report on data

Your corporate information is crucial, so it’s essential to keep it organised and where staff can find it. ERP software brings together information from multiple sources in an easy to use format.

An ERP system ensures employees at all levels have access to immediate, up-to-date information. They can make faster, smarter decisions, and you can be confident your data is accurate.

2. Advanced calculating and billing tools

Say goodbye to multiple spreadsheets and manual billing. With an ERP system, all your financial information is in one database.

This means you can forget about:

• Painstakingly entering accounting data
• Cross-checking billing details
• Copying information to other systems.

ERP software can also calculate rates and billing according to your business model, and produce custom reports that show which parts of your operation generate the most revenue.

This can help you work out the inventory you need and guide you in determining the best pricing models to use.

The result? Your business will be more productive, your staff will be less frustrated and your financials will be in great shape.

3. Better inventory and equipment tracking

Making sure products are available to customers at the right time is critical to business success.

An ERP brings together your sales, inventory, and customer data, so it’s easy to view real-time information about stock, orders, and shipments.

ERP systems can also accurately track items and equipment in stock. This saves you money by preventing over-ordering. It also saves time searching or inventory, as it can identify stock location at any moment.

With ERP, you can also monitor turnover. Once you identify slow-moving inventory, you can price it to reflect higher storage costs.

4. More efficient reordering systems

Ordering stock can be a slow, mistake-prone process, but with ERP there is no excuse for failing to reorder stock in a timely way. Automatic triggers initiate action based on current inventory, making ordering easy.

Customers will be happy because it’s easy to get the items they need, while staff will appreciate improved processes and real-time tracking.

5. Responsive delivery tools

If your business involves making deliveries, you’ll know how quickly fuel costs add up. Multiple trips are time-consuming and scheduling can be a juggling act.

ERP software makes it a breeze to manage deliveries to numerous sites. You can design your ERP to reflect internal processes, as well as to:

• generates packing slips
• remember warehouse locations and delivery sequences
• factor in multiple delivery addresses.

You’ll make fewer trips, saving money on fuel and delivery resources.

6. Minimised damage to equipment

Equipment damage or loss is tough to avoid. Despite your best efforts, goods may be damaged in transit. Without ERP, it’s challenging to work out exactly when incidents occurred, and who was responsible.

Because ERP solutions are mobile-enabled, staff working in the field can record or update the condition of stock or equipment before pickups or deliveries.

The ERP system captures customer signatures on receipt or collection, so it’s easy to see exactly when any damage may have happened.

You’ll save time chasing evidence and be better placed to recoup expenses.

7. Reduced training costs

With ERP, staff can access detailed online help systems with resources like:

• manuals
• videos
• FAQs
• help systems with forums, online communities and knowledge bases

This saves time waiting for external training to be scheduled or for staff to have the availability to attend a course.

8. More efficient invoice tracking

ERP makes invoice generation quick, easy and accurate.

Reporting and analysis tools monitor the payment history for each invoice. As a result, processes become streamlined and efficient.

An ERP makes late payments, misplaced invoices and disappearing paper trails a thing of the past. Automated solutions ensure your processes run smoothly.

9. Simplified, realistic accounting

An ERP system draws all your financial information together in one database. Data stays consistent and current, which means you don’t need to spend days reconciling bank statements.

Any information buried in different spreadsheets or systems becomes instantly visible. Your team will be more productive and free to work on the outputs you need, while your bottom line will be clear.

10. Reduced infrastructure costs

If you choose a cloud-based ERP model, you can slash your upfront costs by eliminating the need to buy expensive licenses and infrastructure.

Instead, your system will be maintained for a monthly fee that you can factor into cash flow expenditure.

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