Don’t you wish there were more hours in a day to finish everything you need to accomplish? We know you want to maximize your team’s output, so many business owners are turning to business process automation to help with manual tasks.
Having to deal with piles of paperwork can slow down operations. Often, some invoices are paid late, data entry mistakes happen, documents disappear, and who knows what happened to those purchase orders. Staff members lose endless hours searching for lost files.
Enterprise resource planning (ERP) is a business management software that applies business process automation to coordinate accounting, logistics, human resources, and supply chain operations in a single platform. Professional services ERP software is commonly used by consultancy firms, engineering companies, and advertising agencies to help them with project management.
Below, we’ll detail the major advantages of automation with an ERP system.
Better Project Management
ERP enables performance tracking, which records data such as project resource utilization, mapping and evaluating outcomes, assessing, addressing challenges, and reaching certain milestones.
ERP systems can help with planning before starting any project. It can be set up to update tasks with project-specific details consolidated on a single database. This can include defining jobs and segregating tasks. Automation helps managers assign and align tasks, record what has been completed, and ensure that deadlines are met.
Streamline Human Resources Functions
Managing staff can be difficult. Your organization can benefit from automation to help with human resources (HR) functions and payroll tasks. ERP interfaces with all other departments and consolidates all employee-related information stored in various data repositories into one platform.
ERP software can automate payroll, completing employee timesheets with just a few clicks. It is also easier to get a comprehensive view of staffing resources to assist you with scheduling and tracking overtime hours. You can even set up alerts to notify your employees if their overtime hours exceed what the company allows.
Improve Supply Chain Management
ERP systems manage, streamline and automate the complicated processes and logistics of transforming raw materials into completed products. It can also improve your deliveries to customers. Leading ERP systems offer modules that handle supply chain operations, including:
- Inventory management
- Warehouse management
- Order management
It can provide real-time information on inventory levels versus demand, allowing you to reduce the risk of stockouts or overstocking. ERP systems can also enhance communications between suppliers, distributors, and other supply chain partners, decreasing delays and improving coordination.
ERP automation eliminates the need for manual data entry, which frequently leads to errors. An automated ERP system digitizes, simplifies, and lowers the possibility of human error by ensuring that information is gathered and stored correctly.
Avoid Late Payments
Missing payment deadlines can hurt your relationship with suppliers. They may charge late fees or interest, be less eager to work with you or prioritize other customers who pay on time. It harms your company's reputation and makes it more difficult to negotiate good terms.
When you automate your ERP, you won't need sticky notes to remind you when your invoices are due and which ones need to be approved—the system will do the work for you. It automates payment scheduling and sets up payment reminders and alerts. You can also generate financial reports to stay on top of your financial commitments and ensure all payments are completed on time.
Bill on Time
Late billing can have a negative impact on your business because it disrupts your cash flow and makes it difficult to manage your money. Clients may be unaware of the amount they owe or when payment is due if invoices are not sent out on time.
ERP systems can automate billing accurately based on purchase orders and contracts, ensuring that all invoices are issued promptly. An ERP also alerts you on late payments so you can take corrective action.
Save the Environment
We're all looking for ways to reduce our carbon footprint. An ERP solution allows your organization to "go green." By automating your ERP, you can begin to reduce the use of paper in your office, resulting in less waste and a lower environmental impact.
Working with a professional ERP solutions provider allows organizations to reap the full benefits of this vital technology while receiving reliable ongoing support. To learn more about our services, please get in touch with NBS today to schedule a consultation.