Do you rely on different systems to manage workflows across your dealership? Do you have a system for accounting and another for scheduling? It could be very frustrating and costly to have disconnected departments and teams within your dealership.
Luckily you can have an ERP solution that automates all project processes and workflows and make your day-to-day business management run more efficiently.
Here we will highlight how ERP can improve a business’s efficiency and why you should have an ERP system.
What Can an ERP System Do for Your Organization?
According to Finances online, the adoption of ERP software is popular among manufacturing companies (21%), banking, financial services, insurance organizations (16%), and telecoms (13%). The ERP market is expected to reach around $86 billion by 2027.
An ERP system can give you a full detailed view of your dealership and integrate sales, operations, accounting, and more, all to improve your business’s efficiency.
5 Ways to Improve Efficiency with an ERP System
When the costs and frustrations of your current systems start to add up, it’s time to consider a better solution that solves your existing problems and can help your business grow.
Here are the five reasons you should start investing in a new ERP system:
1. Cost Reduction
The right ERP system reduces operational costs with automation so eventually, you will need less time and fewer resources for work to be done.
For example, most of the IT cost comes from keeping the Hardware and Software up to date. Meanwhile, a cloud-based ERP system eliminates much of the IT administration needed.
An ERP system improves accuracy, which leads to more efficient planning and better cost control. Data flows automatically into the system, avoiding manual data entry. All your business data is linked and accessible within a single system.
2. Enhanced Project Management
An ERP system will provide you with real-time data related to a project such as allocating resources, monitoring costs, tracking performance, and in-depth reporting.
While using an ERP system, project managers can increase revenue and profits by providing an integrated solution that manages all stages of a project’s lifecycle.
3. Better Inventory Management
A product lifecycle begins in the production phase and ends with delivery to the customer. Therefore, it is important to track products while simultaneously tracking stocks and managing your inventory.
An ERP system will automate those and track sales and demand which will reduce the waste of resources and eliminate insufficient and slow-moving stocks in inventory.
4. Optimize Workflows
An effective ERP system will streamline data across the organization in a simple manner.
Teams can now get all the relevant information that is necessary for their job whether it’s a standard or custom report; to enhance their overall productivity. They can standardize operations, create transparency, and follow necessary compliances.
ERP systems will also:
- Provide you with real-time visibility of operations such as easy access to documents like contracts, orders, pricing, and approval data.
- Help identify challenges and opportunities through a continuous flow of information across different business departments.
- Make collaboration across the organization easier and more accessible which will allow employees to identify areas of improvement and collaborate better to achieve business growth.
With an optimized workflow, you can catch problems before they arise which brings us to our next point, providing a better customer experience.
5. Improves Customer Experience
It’s easier to provide a better customer experience when systems like CRM, Order Processing, Project Accounting, and Financials are integrated.
ERP systems assist you in purchase order processing, inventory, billing, and invoicing. It empowers sales forecasts, orders, and shipping tracking by providing real-time data.
Furthermore, it improves customer communication through identifying business opportunities, new sales leads, and tracking quotations.
Increase Your Business’s Efficiency With Khameleon
Whether you are a small or large organization, if you want to become more agile, competitive, and responsive then you need to start revolutionizing your entire business with an industry-specific ERP system.
Ready to switch to ERP software? Read our latest article on 8 Costly Common Mistakes to Avoid When Implementing a New ERP.
Request a free demo to see how Khameleon can transform your organization.