4 Ways in Which ERP Provides a Competitive Edge

4 Ways in Which ERP Provides a Competitive Edge

Author: | Published: 16 Sep 2019

ERP_and_the_4_ways_you_gain_the_competitive_edge_for_ your_business

We are constantly told that the world of business is becoming increasingly cut-throat and that every enterprise needs to find and hone its competitive edge if it is to survive and thrive. The local and global marketplaces are increasingly dynamic, which means that what worked yesterday, may not work tomorrow.

 

Could ERP be the solution?

There are many ways to achieve a competitive edge, ranging from hiring exceptional talent to adopting a customer-centric approach, to applying more effective marketing strategies. True business success is no longer defined in simplistic terms such as ‘winning’ and ‘losing’ – rather, it’s a question of adding value and creating opportunities.

 

What if there was one single change that your business could make that would give it a competitive edge? An edge over your rivals that could adapt and evolve over time to meet changing market conditions and make a significant contribution to the long-term health of your organization? Surely, everyone would be doing this.

 

Incredibly, not every organization has realized the transformative power of ERP solutions. This makes them even more powerful tools (or even weapons) in the hands of those who have.

 

Before investing in an ERP solution, it’s only natural that you would want to be certain that it will make you more competitive.

 

Find the 4 ways that your business will get a competitive edge that you desire:

 

1 – Increased Efficiency

ERP allows for massively enhanced automation. By doing away with multiple legacy systems and combining all your business data in one software package, it saves time and reduces administrative burdens across company structures. Being able to access and process data rapidly from a single source means that informed decisions can be taken and implemented at a speed that non-ERP-equipped competitors simply won’t be able to match. Reducing the length of paper and data trails promises significant time and cost savings.

 

2 -Increased Insight

Disparate data sources can disguise connections and shield the true meaning of your business information. By consolidating all your data into one ERP solution, you can make decisions based on insights gleaned from real-time data and reporting. This makes it much easier to respond rapidly to changing circumstances and is particularly valuable in managing stock and customer expectations. Rather than waiting for scheduled reports, ERP gives you a continuous flow of data that sheds light on exactly what’s happening in your business right now.

 

3 – Increased Focus

If your hands are bound by red tape, and too much of your time (and your colleagues’ time) is taken up by administrative tasks pertaining to data, you’ll find it hard to maintain your competitive edge. The moment you implement an ERP solution, that will cease to be a factor in your business. Instead, you’ll free up significant time and human capital to focus on what’s important: growing your business and meeting the needs of your clients and customers.

 

4 – Increased Agility

Each of the factors examined above will feed into making your business more agile. That is, more responsive and better able to anticipate and meet changing demand and circumstances. A more streamlined organization can change direction much more quickly – and more frequently. Agility is the key business trend of the late 2010s – without it, no business can achieve or maintain a competitive edge over its slower rivals.

 


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