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Enterprise resource planning (ERP) systems are powerful tools that can streamline operations, maximize efficiency and provide critical insights for decision-making across all business areas. They manage everything from finance and inventory to human resources and customer relations.
However, simply implementing an ERP system doesn’t guarantee success. To truly get the most out of your ERP investment, it’s essential to approach it strategically and continuously optimize its use.
Here’s how to maximize the value of your ERP system and drive your business toward greater success:
1. Invest in Training
Even the most advanced ERP system won’t deliver results if your employees aren’t well-versed in using it; when people are not properly trained, the likelihood of errors and accidents increases.
Empower your team with comprehensive ongoing training to ensure that all relevant users, from the executive level to the operations floor, can confidently leverage the system effectively. Create a learning culture by offering refresher courses and upskilling opportunities as new features and updates become available.
2. Manage Data Effectively
Your ERP system will only work as well as the given data. Take control of your ERP system by maintaining high data quality and integrity to ensure accurate reporting and decision-making, giving you a secure foundation for your business operations.
Keep in mind that every time you export data from your ERP system to a spreadsheet or allow data to leave your ERP system, you could set your business up for mistakes and theft. Implement robust security measures to protect sensitive data, including access controls, two-factor authentication and strong passwords. Regularly back up your data to prevent loss in case of system failure or disaster.
3. Customize Thoughtfully
ERP systems often come with a wide array of features, some of which may not be necessary for your business. Customizing the system to fit your specific business needs and goals can maximize efficiency.
Keep in mind that the need to overly customize is often the result of having a system that is too generic. Instead, ensure you're investing in an ERP that is built for your industry, as over-customization can lead to complexities and challenges during future upgrades.
4. Integrate with Other Systems
Your ERP system should not work in isolation. Integrating it with other business systems, including customer relationship management (CRM), human resource management (HRM), warehouse management system (WMS) and supply chain management (SCM), can streamline workflows, enhance operational efficiency and reduce duplication of effort. You can also integrate it with existing software and technological innovations, like the cloud, artificial intelligence and virtual reality.
5. Utilize Data Analytics
One of the most significant advantages of modern ERP systems is their ability to gather and analyze data across departments and systems. Use these insights to drive decision-making, identify bottlenecks and uncover opportunities for improvement.
Implement business intelligence (BI) tools that integrate with your ERP system to make data-driven decisions a core part of your business strategy. Utilize built-in analytics and reporting tools to gain valuable insights into your business performance.
6. Leverage Mobile Access
Many ERP systems now offer mobile-friendly versions, allowing employees to access important information from anywhere. Leveraging mobile access can improve collaboration, productivity and response times, particularly for remote teams. Ensure mobile ERP access is secure and compliant with your company’s data protection policies.
7. Plan for Upgrades and Updates
ERP systems evolve with expanded features and efficiencies, and you don’t want your business processes to miss out. Stay proactive by planning for periodic upgrades to ensure your systems remain current, secure and supportive of your business growth. Updates also close any cybersecurity gaps, as cyber criminals exploit these vulnerabilities.
Set aside a budget and schedule for routine ERP upgrades and enhancements to avoid downtime and ensure you’re maximizing your system’s full potential. Don’t neglect updates – a cyber attack will cost you more in the long run or even threaten your business. Did you know that 60% of small businesses close within six months of a cyber attack?
8. Conduct Regular Reviews
Conduct regular reviews of your ERP system to identify areas for improvement – you want to ensure that current ERP systems meet your company’s operational needs, as well as any compliant requirements. Check for issues like slow response times, system errors or areas where the system isn’t delivering value as expected. If necessary, adjust your business processes to align more closely with the ERP’s capabilities.
Read: Manufacturing Case Study
List of Common ERP Tools
Here's a list of common ERP tools:
Looking to Optimize Your ERP System?
Partnering with an experienced managed IT service provider like Thriveon can help you maximize your ERP’s potential by offering expert guidance, seamless integrations and ongoing support. For over 20 years, we have helped clients, including manufacturers, implement powerful ERP systems and grow their businesses. Schedule a meeting now for more information.
