All the data your business generates on a day-to-day basis holds no meaning if there is no proper system for management and analysis. This is where Enterprise Resource Planning (ERP) systems come into the picture. Serving as the backbone of modern businesses, an ERP system provides you with a centralized platform where you can store, manage, and organize data from different sources, and generate holistic reports.
In this article, we will discuss how an ERP system can help your business utilize the power of data. We will also evaluate how this can lead to improved decision-making, enhanced efficiency, and better overall business outcomes.
1. Comprehensive data collection and data management
As a business entity, you have to collect and manage a big amount of data to run your firm successfully. An ERP system streamlines the way you collect data from different areas of your business, such as supply chain, production, sales, customer service, and finance. When the data collection is so thorough, it’s easy for you to get an overall view of your company’s performance.
2. Automation of routine tasks
Routine tasks like data entry, data processing, record keeping, etc. can consume a huge amount of time. Your ERP system automates these tasks so that your employees can shift their focus to more strategic work that requires human intervention. When your staff has to do only what they are best at, i.e., analyzing data, identifying trends, and critical thinking, your team’s quality of work will improve drastically.
3. Real-time reporting
Collecting data and keeping it stored in your database is not enough, you need real-time reporting to stay on top of your business processes. Generating reports manually may not be a viable option, especially if you are a big business. Your ERP system comes in handy here— it gives you real-time updates and generates reports as new data is entered into the system. You can be sure of error-free, up-to-date reporting of your business operations.
4. Customizable reports
The ERP system not only generates reports, but it goes a step ahead to create customized reports suited to your business requirements. So you can create reports that are relevant to different stakeholders such as investors, managers, executives, and customer service teams. Individual dynamic reports help your team visualize better, and empower them to make data-driven decisions.
5. Cross-functional reporting
When you opt for an ERP system like kentro.io, you will get a dashboard pre-integrated with cross-channel reporting. This means you can analyze data from multiple channels and departments at one go, or separate the analysis for an individual channel—the choice is yours. With Kentro, you also get pre-configured reports (e.g. revenue, shipping cost, inventory errors, etc.)—you can customize them and export the report to a CSV file. You also get access to an API for data fetching. These offerings make it a lot easier for you to run your business and get a holistic view of your operations.
6. Integrated analytics
Your ERP system may come with integrated analytics to ensure you get in-depth analysis and insights. This is a particularly useful feature because your team will have access to powerful tools that simplify data visualization, trend analysis, and predictive analysis.
7. Improved scalability
As you can tailor your ERP system to meet the individual needs of your business, your operations will run smoothly, there will be a clear communication channel across teams, and everyone will have access to the same data in real time. As a result, you can scale up quickly without compromising on any area of your business, and improve your existing processes by studying and analyzing historical reports.
Streamline holistic reporting with kentro.io
As a modern business looking to scale, you cannot ignore the massive potential an ERP system has. It’s humanly impossible to process huge chunks of data and generate clear and accurate reports from them, that too in real-time. It’s only possible when you have a powerful system like Kentro by your side. It’s seamless to use, integrates with 100+ adapters, and keeps you up-to-date with what’s happening in which channel. Try out kentro.io today, and stay ahead of your competitors.
