Grow Your Business Faster by Running a Single System
Think enterprise resource planning (ERP) solutions are just for big companies? Think again. According to Aberdeen, 96% of best in class growing businesses – the top 20% of performers – have implemented an ERP solution. That’s a huge percentage – enough to consider ERP systems mission critical to the success of high-growth small and midsize companies.
When you think about it, ERPs geared for SMEs make perfect sense. You have the same processes to support as large companies: procurement and logistics, manufacturing, customer-facing processes like sales and support, finance, HR and more. You can either manage all of this with systems that can’t interact with one another, or you can simplify with an ERP.
Simplify work and scale easier with a single business system
ERPs act as single business systems that centralise core business data and support core operations, processes, reporting and more. They help organisations of all sizes face their challenges and, as a single business system, they support visibility, efficiency and decision making. At the same time, they make work faster and easier with automation, seamlessly integrated processes, and easy access to accurate, trusted data. And the benefits, based on surveys of executives of growing businesses with ERPs, are significant and directly related to business growth. For example:
- 11% reduction in operational costs
- 10% increase in profitability in just two years
- A 48% likelihood that you will have real-time visibility into the status of all processes
- A four-fold increase in the ability to forecast and plan for demand
- 633% greater likelihood that you can share data with suppliers, customers, resellers and regulatory bodies
- 77% likelihood that you can standardise back-office processes
In addition, best in class growing businesses can easily find and use the data they need, no matter where they are, to make fast, agile decisions. Aberdeen research shows that ERPs reduce the time it takes to make decisions by 36% Why? Because the processes ERPs support, work from and contribute to, a single source of truth, to support visibility, efficiency and decision making.
Have you thought about running your business on an ERP solution? Or are you still using point or stand alone solutions for finance, customer management, HR and other core operational areas?
I guess the real question is, given the competitive edge that ERPs provide – and their ability to make work and life easier in small or midsize businesses – can you afford not to move to an ERP?
To talk to someone about growing your business faster with Business ByDesign click here.