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Why Your Business Is More Valuable If You Run Excellent ERP Software

By Joseph Timmins

The global enterprise resource planning (ERP) software market is worth $41.69 billion, and anyone who uses an ERP understands why – because ERP systems handle all your business’s diverse functions, including:

  • Business intelligence

  • Supply chain management

  • CRM

  • Financials and accounting

  • Inventory management

  • Production

  • Project management

  • Material requirements planning

ERP systems also streamline data by storing it in a single database and reduce training costs, user error, and the expense of maintaining multiple systems.  

Now that your business must compete with companies all over the world instead of just the ones down the street, you need tools that offer a competitive advantage and increase your company’s value. An ERP is one such tool.

But how does an ERP make your business more valuable?

Better analytics

ERP systems create useful reports and analytics you can analyze for trends, compare across departments, and use to identify operational strengths and weaknesses.

Happier employees

Streamlined data, lack of repetitive manual processes, easy-to-use dashboards, and other ERP features give your employees more time to focus on higher-level tasks, which is critical for their morale and your bottom line.

Real-time integration

Real-time integration between your accounting and other departments provides always-current financial data and allows you to make smarter decisions. Real-time integration also leads to reduced administrative and operations costs, giving you more funds to grow the business.

Regulatory compliance

Many industries are subject to government regulations, and many ERP platforms keep track of those regulations and monitor changes. This keeps you in compliance with laws that, if broken, lead to audits and fines.

Customer service

ERP systems improve customer relationships because your sales and customer service reps have real-time access to customer contact, billing, and order history information. With this holistic view, your team can better understand customers’ wants and needs and create a stronger lead generation strategy.

Selling your business one day

Selling a company without an ERP system is like selling a house with a leaky roof – no one will want it, or you won’t get asking price. Having an ERP, however, means buyers won’t have to upgrade software, and they’ll already have reliable numbers to work with. When you think about equity, ERP should be part of the calculation.

The value you’ll gain from an ERP system far outweighs the up-front cost and effort involved in the implementation. As you’re making your decision, remember the Acuity team is here to support your next implementation. Our satisfied customers are happy to serve as references, along with many years of experience and proven results. 


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Here's another blog you might enjoy: Want an ERP Project to Succeed in Your Company? Do a Checkup on Your Users.

 

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