We’ve talked before about how Business Intelligence (BI) is a crucial aspect of utilizing your ERP system to the best of its abilities. But a surprising amount of manufacturers and other industries don’t realize how important BI is to the future of their business. By ignoring the important data provided by your ERP systems BI analytics, you are losing out on valuable information that will improve your processes and keep you aware of any potential roadblocks.
ERP GIVES YOU THE TOOLS; USE THEM
After an ERP implementation is complete, many businesses want to sit back and bask in the efficient improvements their new system will bring. A lot of work went into their ERP solution, so it’s only natural to want to take a break and enjoy the rewards. However, what seems to be getting lost in translation is that your new ERP isn’t just a set-it-and-forget-it solution; you need to monitor the data and analytics it dutifully provides, giving you insight into your customer orders, total value of invoices, new customers and their pertinent information, etc. Your new ERP system is their to improve your current process and improve your business’ future by giving you real-time data on trends and company information that can help you perform better. Ignoring that data can lead to thinking that your ERP isn’t performing to it’s potential, when in actuality you aren’t using what it’s giving you.
Ideally, your ERP will provide your employees with a dashboard that shows you all the data you need to make better decisions. From mission-critical information such as how your plant floor is running, interactive selections to manage time frames and risk assessments, to charts and graphs that assist you in better decision making; your ERP wants to help your business, you just need to know where to look. Once you’ve gotten the hang of using your BI you’ll wonder how you ever managed without it – which you’ll never have to do again thanks to the mobile capabilities inherent in most ERP’s today. That way you will have real-time actionable data at your fingertips to make the best decisions, no matter where you are.
HIDDEN OPPORTUNITIES, TOMORROW’S SUCCESSES
Utilizing the Business Intelligence baked into your ERP is imperative for simple reasons; it shows you the hidden opportunities that can transform your performance and maintain a competitive advantage, while allowing you to achieve growth and lower expenses by monitoring the daily activities that occur within your organization that would otherwise go unseen. Don’t let this valuable resource go to waste, take the time to look at what your ERP is showing you, and take action when necessary to capitalize on the amazing amount of real-time data your ERP can provide.