Six Reasons Why You Need ERP with Real-Time Reporting
Axiever Team | 26 JULY 2021
In today’s very digital world, humans have grown to become dependent on multiple screens, devices, and even software applications. In 2015, Microsoft’s study revealed that a human’s attention span decreases by 88% each year, with a current dropdown to eight seconds from 12 seconds in the year 2000s. With the fierce competition for consumer attraction, these shorter attention spans have challenged marketers and business owners to completely change strategies in creating software and generating content for consumers’ use. Thus, it is significant to understand that when consumers want to know something, they want it NOW.
This is why the use of ERP software can be beneficial in businesses today. Whether small businesses or large enterprises, most companies have used ERP software to address consumers’ micro-moments to keep up with the present demands of the digital landscape. One of the many ways ERP software becomes beneficial to businesses is its ability to provide real-time data access to its users. Real-time data updates are invaluable and play a very significant role in achieving seamless business operations. Here are six reasons why you need ERP with real-time reporting.
1. Centralized Database
Accessing real-time data is one of the most essential resources that keep the business stay on track. Having top-notch ERP software lets you streamline all vital information in just one centralized database. With different modules available in one database, all the processes in front and back offices can be fully monitored. A centralized database can optimize and supervise all the information of your assets and daily operations to improve business management. Real-time reports can help monitor the balance of all business processes that require immediate attention and eliminate any errors as detected.
2. Total Visibility of Key Performance Indicators
Perhaps unobstructed business processes are hard to achieve, most especially for start-up businesses. However, having the right ERP software can reduce human errors in manual tasks that avoid inefficiencies in your day-to-day processes. With a highly modernized ERP solution, a massive chunk of real-time data can be collected and become readily available to its users. This helps your business receive insights that enable you to analyze and target the right indicators to help you on the factors to improve, decide faster and be more precise with your decisions.
3. Better Communication and Collaboration
As your business grows, managing several employees continues to be a necessity while it becomes more challenging. Business performance can take a toll on employees due to poor communication and connections. This results in a costly turnover of expenses and reduced productivity. Thus, organizations should have updated and easily accessible data to hone a flexible and collaborative workforce to avoid these circumstances and unnecessary costs. It not only sets higher transparency in communication but also simplifies processes that need collaboration within employees.
4. Better Customer Service
Of course, as an entrepreneur, you have no other vision for your small business but to grow. One of the key drivers to your business’s success is your customers. With intelligent and modern ERP software, you can help your business foster great relationships with your customers. Real-time and accurately updated data prevents you from inaccuracies in orders and deliveries that improve your brand identity through excellent customer services. With a more proactive strategy for handling customer needs, you can provide customer-preferred responses that result in customer satisfaction and more opportunities for stronger business-to-client relationships.
5. Increased business agility and competitiveness
Business agility and competitiveness are not easy to achieve, but definitely possible. Real-time data and accurate updates help businesses become more agile and competitive through streamlining their processes with the help of flexible ERP solutions. When data is constantly updated and reliable, business operations are more easily improved to encourage better strategies and goals for further development. These real-time data updates can also quickly pinpoint issues on processes that push a more strategic approach on daily productions and avoid interruptions for maximized efficiency.
6. Real-time data analytics
Analyzing data has always been very advantageous among businesses. With the right ERP software for your business, real-time reported data can help you make the targeted adjustment that your business needs. Be it in your marketing strategies, customer data, and sales patterns, the right ERP software can help you further understand the constant changes you may encounter. This can help you react accordingly during these sudden changes, avoid costly damages and possible loss in your income.
What’s Next for Your Business?
When running a business, whether a small or large-scaled business, looking for the right ERP software can be a bit challenging. It is vital to look for cost-efficient ERP software that addresses many business needs, such as real-time data and complete business automation. This is where Axiever comes in.
Axiever is a cloud-based integrated ERP software that offers top-notch digital transformation solutions best for small to medium-sized businesses. Overcome your daily real-time data challenges with Axiever’s flexible and customizable ERP solutions. Focus on growing your business while letting Axiever focus on keeping your business streamlined and automated.