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What Businesses Need to Know About Enterprise Resource Planning (ERP)

Angie Hinickle Jul 27, 2023 11:00:00 AM
Small Business ERP

Overall, ERP systems offer a host of positive benefits, driving operational excellence, customer satisfaction, and long-term success for businesses. 

Simultaneously managing operations across several markets is a logistical puzzle with high stakes. Enterprise resource planning (ERP) software is one solution that allows companies of any size to integrate all aspects of their business operations. Here, we’ll dive into how ERP tools like those we offer at Rockton Connect can help these businesses with their accounting compliance headaches, streamline operations and increase their customer loyalty.


What Is an ERP?

At their core, all ERP systems are designed to help manage day-to-day operations. ERPs provide key stakeholders a 360-degree view of their financial and operational health—valuable information for large-scale, complex businesses in growth mode.

An ERP unites disparate systems—sales, inventory tracking, financial, HR and compliance—to create seamless recordkeeping and streamline accountability. That operational insight is important in any highly industry, but especially for companies as they expand their footprint across established and possibly emerging markets. The ability to navigate smoothly across multiple entity structures or geographic locations is where ERP software excels.


Why are ERPs Valuable for Businesses?

Due to their ability to streamline and integrate various business processes, ERP systems are invaluable for businesses.  As companies experience rapid expansion or increased competition, managing operations and accounting functions becomes increasingly complex.  ERP systems provide a centralized platform that consolidates data and automates key processes such as inventory management, financial accounting, human resources, and supply chain management.  By facilitating real-time data access and analysis, ERP systems enable decision-makers to make informed and timely choices.  Better decisions lead to enhanced operational efficiency and productivity.

Furthermore, ERP systems promote collaboration and communication across different departments, fostering cohesive and synchronized workflows.  With their scalability and flexibility, ERP systems offer companies the agility and adaptability required to navigate the challenges unique to their industry, leading to smoother operations and improved customer service.


How ERPs Help with Quality Assurance

ERP software platforms are the best way to track all the data generated across departments as products progress through the supply chain. Integrated workflows at the location level can provide assurance that all quality assurance steps have been followed across all markets, regardless of geography. That’s crucial for companies wanting to ensure their different geographic locations are providing the same great quality product for all customers.

By drawing data from numerous sources and keeping it in one centralized, cloud-accessible repository, businesses can use their ERPs to maintain product quality and consistency across different markets—and if needed, keep track of product testing records for various serial and lot tracked products.


Customer Satisfaction is Key for Longevity

Customer satisfaction is paramount to a company’s longevity, as it directly influences customer loyalty, repeat business, and positive word-of-mouth referrals.  An ERP system plays a pivotal role in enhancing customer satisfaction by providing a comprehensive view of customer interactions, preferences, and purchase history.  With this centralized data, companies can personalize their interactions, deliver targeted marketing campaigns, and provide superior customer service.  ERP systems also enable efficient and accurate order tracking.  Additionally, by integrating customer feedback and support functions with the ERP system, companies can swiftly address customer concerns, resolve issues, and improve overall customer experience. 

The ability to access and analyze customer related data in real time empowers companies to identify trends, anticipate customer needs, and proactively developer strategies to exceed customer expectations.  Thus, an ERP system acts as a valuable tool in fostering customer satisfaction, driving customer loyalty, and securing the long-term success and growth of a company.

Learn more about the capabilities of Rockton’s ERP software for retailers and manufacturers.