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When you are determined to knock out your competition, ERP systems can give you the advantages you need. Streamline your business by eliminating repetitive tasks. Integrate your information so that you know your data is always accurate, consistent, and safe. ERP systems provide businesses with everything they need to thrive while leaving their competition in the dust.

If you haven’t already invested in an ERP software selection process, here is a quick look at the top reasons it is time to do so, especially if your goal is to gain a competitive advantage in your industry.

1. It’s an All-In-One Solution for Managing all Your Business Processes

ERP systems automate operations across multiple departments. All data is compiled, stored, accessed, and shared through one system. This ensures that everyone has access to accurate, real-time data. Generating reports on anything from income to trends and metrics is much quicker and more straightforward. At the same time, it eliminates the need for time-consuming data re-entry. Users can now easily navigate complex processes. Instead of concentrating on redundant tasks, employees can focus on growing your business and working collaboratively.

For example, KanBan has visual signals to resupply inventory. This works well with a single manufacturing facility. ERP turns visual signals into electronic ones. This means notifications and response times are faster. Additionally, multiple manufacturing facilities and even suppliers can now be linked together into one KanBan loop.

2. ERP Systems Improve Productivity While Reducing Costs

The aforementioned items will increase your business’s productivity and efficiency. Time that was wasted on mundane tasks can now be used on essential details and assignments. Individual departments and users can generate reports on their own to set your business apart from the competition. Businesses can focus on projects that promote growth and put you ahead of the competition. Beyond increased productivity, businesses can reduce operations and administrative costs.

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3. Their Predictive Capabilities can Prevent Problems and Capitalize on Opportunities

By using real-time analytics, ERP systems enhance preventive maintenance. Evaluating your business process makes it easier to spot potential issues before a problem can arise. This allows you to resolve problems before they have the opportunity to affect your customers. At the same time, you will be able to create more accurate forecasts and make more realistic estimates. Product availability and reliable delivery is ensured for all of your customers. The ability to foresee problems, eliminate them and maintain great customer service is vital to attract and retain clients.

4. Their Flexibility Makes it Easy for Your Business to Grow

ERP systems are designed to facilitate growth. It’s easy to add new users and modules over time. So whether it’s a small change like adding a new user or major one like opening a second location, you can have confidence the right ERP system will be able to adapt. Additionally, their online capabilities means you can use them from wherever you are working. Unlimited scalability means your business grows the right way at the right speed.

5. They Offer a High Level of Security

Many ERP systems can track industry regulations while monitoring for changes in compliance. At the same time, they include firewalls and built-in resources that ensure all of you and your customer’s personal information remains safe. You can even restrict who within your company has access to specific information. Sixty percent of small businesses that fall victim to a cyber attack go out of business within six months [1]. Data security is critical for staying in business and ahead of the competition.

ERP systems give you the competitive edge you need, regardless of what industry you are in. Now, it is time to invest in the one that best fits your needs. Contact Panorama Consulting Solutions today for help in selecting the right ERP software for your organization.