Five Ways Mid-Market Businesses Capitalise on Cloud ERP
With more cloud infrastructure and powerful data-driven processes incorporated in modern software, high-performance ERP systems cater to nearly every business, industry, and requirement these days.
Gartner predicts that by 2023, 65% of organisations will use ERP applications to optimise business operations and improve customer service using analytics and intelligent decision-making. Smart and strategic ERP platforms will prevail.
This is a game-changer for the mid-market business sector. Previously, small and medium sized businesses had to raise investments to compete with large enterprises for speed, reliability or efficiency. The latest advancements in cloud ERP finally level the playing field.
Integrated cloud ERP solutions draw on all the necessary resources and power (thanks to the cloud) to automate and improve operations, e.g. update remaining stock, quote and invoice customers, record sales transactions or analyse customer data.
As Gartner explains, the need to create, manage and understand data is paramount to the business ecosystem, customers, suppliers, partners, competitors and stakeholders. Modern ERP systems rely on robust data management and analytics.
Here are five ways ERP systems are changing the way businesses operate:
1. Central KPI Dashboard
It is a significant advantage to view all key performance indicators on a single display, with the option to click and drill down into more data whenever required. In addition, the ease of presentation, through graphics and charts, simplifies decision-making.
2. BI Insights
More ERP developers chose to embed or make available Add-on products for even more powerful business intelligence to provide businesses the benefit of data presentation and analysis in easy to understand graphics and charts.
For example IQ Retail and Kerridge Commercial Systems partnered with Phocas, leading BI software solutions provider. Phocas simply integrates with Kerridge Commercial Systems and IQ Retail’s solutions for additional business insights as they make a powerful combination.
3. Exceptional Reporting
Businesses usually conduct routine stock management, product sales performance and customer analysis to adjust for improvements. Template-generated reports and other related documents simplify reporting duties and save time so that management can focus on more strategic decisions.
4. Customer-facing Management
For decades, ERP's role was back-office functionality and resource planning. In the past years, ERP has absorbed additional capabilities to become an all-in-one management solution.
For example, IQ Retail and Kerridge Commercial Systems’ solutions allows users to quickly create professional quotes and invoices.
5. System Integration and Scaling
The advantage of cloud ERP software based on the latest technologies goes beyond its traditional functionality and ads a new level of flexibility and scalability. Fully integrated systems with add on modules or apps enabling improved performance or streamlining more processes, if and when required, is the benchmark of the modern ERP system.
A good example is IQ Retail and Kerridge Commercial Systems Electronic Proof of Delivery (ePOD) App that streamlines the entire delivery process.
Contact us to discuss a tailor-made business management solution for your industry related requirements.