As we’ve mentioned in a previous blog post, an ERP system is not a quick fix to all of your company’s problems. At times, it may even be difficult to measure whether your company is gaining any benefits from implementing your ERP software. If you’re doubting the effectiveness of the software, I suggest reviewing the following areas of your business first:
Tracking Customer Service Experiences: In today’s market, providing outstanding customer service can be the determining factor on whether a customer will choose to do business with you or a competitor. An ERP software puts you in control of the consumer buying journey, enabling you to track online customer experiences, line item fill rates and ensure delivery times to your customers. You’ll be able to compare these measures with previous results to identify trends and determine if the ERP software is making a difference in your company.
Measuring Profit Margins: If you’ve ever taken a business course, then you’ve probably heard of the ’80 – 20’ rule, which states that 80% of a company’s revenue is typically generated by 20% of its total customers. An ERP software can influence your overall strategy, allowing you to concentrate your sales efforts and target your more profitable customers. Once again, the results can be measured and compared with historical data.
Impacts of Inventory Management: One of the key features of an ERP software is its ability to manage and track inventory. Not only does this allow your company to better meet consumer and production demands, but also ensures your company will not be spending more on excess stock and tying up additional capital and resources.
If you’re still wondering if your ERP system is working out for you, why not try and take a free ERP assessment? Click here for more information.