Just a couple of decades ago, many businesses viewed ERP (enterprise resource planning) software as helpful but unessential. Somehow, companies found ways to manage supply chains and manage risk without much help from real-time data analytics. It certainly helped that competitors also struggled without insights from ERP software.
Today, industrial companies cannot compete without ERP software that guides their decision-making processes. A company using manual practices against a company with digital ERP solutions would have about as much chance at winning as someone sending a letter instead of an email. The email will always reach its destination first. The digital process works so much better that it isn’t really a competition. You know the conclusion before you even think about testing your options.
Even if you invested in ERP software a few years ago, that doesn’t mean you have all the features you need to thrive today. In this article, we'll explore emerging trends in ERP software that can help growing industrial companies.
When you compare software, you should find critical features that help your business:
Critical Components Industrial Businesses Need from ERP Software
- Collect data from multiple sources.
- Analyze diverse data types to help you streamline business processes.
- Integrate with other systems your business relies on, such as your customer relationship management (CRM) software.
- Track financial data to ensure accurate accounting and payroll.
- Manage supply chains to improve efficiency and anticipate potential disruptions.
Emerging Capabilities Adding Value to ERP Systems
- ETL (Extract, Transform, Load) platforms that give you more control over data.
- Legacy systems that some of your departments still use.
- E-commerce solutions that communicate supply and demand needs.
- Shipping and GPS that lets ERP systems track shipments as they move toward their destinations.
No ERP solution can integrate with every app. You can avoid that problem by choosing one with strong API management features. With API, you can connect practically any app to your system — but you might need to get assistance from software that generates and manages API.
Real-Time Data Collection
- Optimizing every step of your business and industrial processes.
- Recognizing issues as soon as they start to cause problems.
- Testing potential improvements so you can compare results immediately.
Key Advantages Business Owners Should Look for When Comparing ERP Solutions
- Does this software serve as a common repository for all of my critical data?
- How much training will it take for managers to adjust analytics and generate reports?
- Does the ERP integrate with my existing IT assets?
- How much will the ERP cost, and will I get an ROI that makes the expense worth it?
- What features would help my business become more efficient and effective?
Improve Your Business Technology with Help from Dymin
You might not have the expertise to answer all of these questions. That’s perfectly fine. It’s practically impossible for one person to know everything about a business’s operations and what features ERPs offer.
Get help with making informed business IT decisions by getting in touch with Dymin. We can help you explore hardware, software, and services that match your unique needs.