An Enterprise Research Planning (ERP) system is essential for managing a company’s central business processes and management systems, such as human resources, accounting, customer relationship management, and inventory management. As an integrated business system, it enables employees to better manage their time by accessing real-time data about the various core processes of their organisations. ERP systems serve as comprehensive project management software, enhancing overall operational efficiency.
In the old days, employees spent countless hours retrieving updated information from different management systems, such as inventory management and accounting management. Today, accessing this information on an ERP system will save your employees a lot of time from searching for it manually. Then, because of the automation associated with ERP systems, many routine tasks are automated to save time and improve efficiency. This business process automation is one of the key automation benefits that ERP systems offer.
Time management is the key to faster decision-making. Business managers cannot afford to waste time working on repetitive tasks all day when they could be focusing on more important things. By managing their time effectively, managers can make well-informed, data-driven decisions and meet strict deadlines that benefit themselves and the company.
Below are the five primary ways ERP systems can enhance time management by offering real-time data and automating routine tasks for quicker decision-making.
1) Immediate Access to Real-Time Data
Organisations require employees to perform various routine tasks, such as invoicing, data entry, order fulfillment, and payroll calculations. Most employees despise this kind of repetitive work and are more liable to make mistakes the more they do it. So, if your employees no longer need to do these tasks, they can focus on more critical company activities, such as product development, customer engagement, and strategic planning. This automation leads to increased productivity and cost reduction.
For instance, your ERP system will automatically send out invoices to customers immediately after sales are made. You don’t have to send out invoices manually, and it ensures they are sent on time. The system can also automate payroll management, eliminating the need to calculate employees’ work hours manually. The last thing employees want to see is mistakes in their paychecks. Nothing hurts employee morale more than that.
The most important thing is automated purchase orders submitted to suppliers when products run low in your inventory. When your ERP system detects a low supply in your inventory, it automatically submits an order to the supplier before you run out entirely. Then, you won’t risk being incapable of fulfilling a customer order because you ran out of stock. That will go a long way in satisfying your customers by ensuring you can deliver their orders on time.
2) Automating Routine Tasks
Organisations require employees to perform various routine tasks, such as invoicing, data entry, order fulfillment, and payroll calculations. Most employees despise this kind of repetitive work and are more liable to make mistakes the more they do it. So, if your employees no longer need to do these tasks, they can focus on more critical company activities, such as product development, customer engagement, and strategic planning.
For instance, your ERP system will automatically send out invoices to customers immediately after sales are made. You don’t have to send out invoices manually, and it ensures they are sent on time. The system can also automate payroll management, eliminating the need to calculate employees’ work hours manually. The last thing employees want to see is mistakes in their paychecks. Nothing hurts employee morale more than that.
The most important thing is automated purchase orders submitted to suppliers when products run low in your inventory. When your EPS system detects a low supply in your inventory, it automatically submits an order to the supplier before you run out entirely. Then, you won’t risk being incapable of fulfilling a customer order because you ran out of stock. That will go a long way in satisfying your customers by ensuring you can deliver their orders on time.
3) Manage Several Workloads and Projects More Efficiently
An ERP system has excellent scheduling tools to help you manage your company’s projects and workloads more efficiently. It lets you set project deadlines, allocate tasks, and assign users to teams to complete different projects in the organisation. The real-time tracking tools enable you to monitor their progress to ensure they finish the work on time. This functionality makes ERP systems excellent productivity tools for resource allocation and performance monitoring.
Speaking of automation, the ERP system will automatically send progress reports to your inbox when specific tasks are completed and when they are not completed on schedule. The visual project timelines and charts will make it easy to see which teams and employees are falling behind and which remain productive. This automated reporting feature saves time and provides valuable efficiency metrics.
4) Faster Communication Between Management and Teams
A cloud-based ERP system establishes a centralised platform for team members and managers across the organisation to communicate with each other quickly. There is no more worrying about communication delays or wasted resources due to miscommunication. All employees will have access to real-time information and communication from remote teams and managers to ensure everyone is on the same page.
For example, if the inventory team needs to restock certain items before they are sold, it can use the ERP system to communicate this to the sales team. That way, there is no risk of the sales team selling something that is not in stock. Any team member can share updates, resolve issues, and submit questions without waiting for a video chat or phone call to do it.
5) Calculate Taxes and Financial Data Faster
Businesses are responsible for accurately recording all transactions in the organisation. The ERP system automatically maintains accurate transaction records and integrates the data with all installed third-party applications and systems, including accounting applications like QuickBooks. This integration enhances financial management and ensures compliance with various regulations.
As a result, your business can automatically calculate its taxes accurately and prepare itself for unexpected audits if they arise. Since the ERP system keeps accurate records of all transactions, you will not need to spend too much time dealing with auditors or filing taxes. Just let the ERP system do most of the work to ensure you comply with the taxing authorities.
Hire an ERP System Integration Consultant
Are you interested in integrating an ERP system into your company to improve time management? Bluehub has a team of digital system integration consultants who can assist you in this effort. They specialise in ERP implementation for companies across many industries and sectors. By leveraging these time-saving technologies, you can significantly enhance your organization’s decision-making processes and overall efficiency.
