Benefits of ERP in decision-making

Finally, we will explain which is one of the most competitive ERP systems on the market and why your company should use SAP Business One when it comes to improving productivity, collaboration between departments and, of course, decision-making. Don't miss it!

The importance of ERP in decision-making

Information is power. If we apply this saying to the business sector, it helps us to understand the importance of data in improving a company's competitiveness. Your company — even if it is an SME — is already handling a lot of information, which will give you the power to make better decisions and increase the profitability of your business.

You may not realise it, but information about your customers, sales, purchases from suppliers, the destination of your exports or the speed of the manufacturing process is invaluable data.You may have all this information on various digital platforms, or some of it may even be in physical record books. In that case, you are not exploiting the full power of your critical information.

Giving shape to chaos

You already know: with every action, your company generates valuable information. But if this flood of data is not organised, processed and properly stored, it is useless. A famous advertising slogan once said: "Power without control is useless". And how do you control the potential of your data?

The answer lies in just three letters. ERP is the solution to sort out the chaos in your company's data. In addition, a business management software also unifies your company's information, processes it and converts it into graphs, statistics and reports.

That's when the saying comes true. Your SME's information is power — power of decision to direct your business.

How does an ERP system help decision-making in companies?

Let's explore five ways in which an ERP system helps to make better decisions within a company. Each one corresponds to some of the functionalities offered by this kind of software to handle business information.

Data collection

An ERP system can collect a company's information through different modules that link the different areas of the organisation. Each module is responsible for managing the data generated in a specific process, such as accounting, inventory, production or sales.

This way, all departments feed the platform with their own data. The ERP system will then store and process the data to help you make faster and better decisions.

Consolidation of information

Another noteworthy aspect of an ERP system is that it integrates all the modules into a centralised database, where the information is stored and updated automatically. In this way, the ERP system produces a global and unified vision of the entire business activity.

This solves a recurring problem in companies: each department has its own system of records. On the contrary, everything is unified in one place, providing complete and contextualised data with information from other parts of the organisation.

Efficiency in data retrieval

Another benefit of ERP in decision-making is that it improves efficiency when retrieving data. This is possible thanks to what we already mentioned, i.e., unifying all the company's information into a single database.

As a result, it becomes no longer necessary to access different sources of information, which can be disjointed, out-of-date or duplicated. With an ERP system, data can be accessed quickly and easily from any device, anywhere, by simply entering a username and password.

Real time data

An ERP system is able to offer data in real time, which means that the information shown is always up-to-date and reflects the current state of the company. How does it do this? Crucially, it synchronises all the modules that are connected to the different processes of the organisation and records any changes that occur automatically.

With real-time data, you can control and monitor business activity more efficiently and react faster by making correct decisions at all times.

Reports, statistics and much more

An ERP system not only stores and organises company data, but also allows users to generate reports and graphs using the data in the system. ERP software such as SAP Business One can generate real-time reports and graphics, which are very useful for visualising and analysing information in a clear and simple way, drawing conclusions and offering recommendations.

SAP Business One gets your company's data under control

SAP Business One, the leading ERP software in all sectors. Thousands of customers in hundreds of countries use it already. It is a very powerful tool for business management that allows you to take control of your business data.

With SAP Business One, you will meet all the objectives discussed in the previous section. This ERP software helps with:

• Consolidating your databases.
• Consulting your company's information immediately and in real time.
• Generating reports and statistics.
• Making the right decisions in seconds.

And how is SAP Business One implemented in a company? The first step is to talk to a digital adviser who has experience in the sector. They will be responsible for designing a plan and adapting the software to your company's needs.

Contact SEIDOR now and let us put several decades of experience in the world of SAP Business One at the service of your SME.