Businesses need accurate facts and figures in order to continue improving their operations. While anecdotal evidence and gut feelings may have worked in the past, today’s ever-changing economy requires businesses to rely on accurate accounts of activity and detailed projections for the future. For this reason, companies need a system that can create a variety of valuable reports.
Many companies can easily become stymied by a lack of hard data – without cold, hard facts and honest numbers, executives can’t be appeased and shareholders won’t be convinced of anything. That’s one of the best reasons to invest in ERP systems. The number of reports that can be generated by automated record-keeping software is staggering. Take a look at a few of the many reports ERP software can generate for your company.
Costs
One of the most difficult conversations that can take place in company planning sessions is one that centers around the cost of supplies. Enterprises live and die based upon the receipt of raw materials and manufacturing supplies, so to convince financing departments and executives that additional costs must be incurred, proof of that need must be shown. ERP systems can easily create reports about what supplies are necessary and how much a company can afford.
Investment
When a supervisor is able to convince the men and women higher up the organization than herself that a project is worth investing in, only half the battle has taken place. The remaining effort must be focused on showing that the project was a success. Detailed ERP reports can show how a return on investment was met or exceeded and that additional projects of a similar ilk should be undertaken.
Departmental effectiveness
It’s very difficult to pinpoint reasons for success or failure, and because reputations and employment are at stake, these types of discussions can be heated. To get past the bickering and cut through all the excuses, use enterprise resource planning systems to generate reports about the supply use, effectiveness and costs of each department. Only then can accurate assessments be made about which sections are pulling their own weight and which are responsible for success.
Customer and client profiles
Choosing who to sell products to can be difficult, especially for busy companies. Some clients may be very conciliatory and willing to accommodate their suppliers, while others don’t make it easy to do business with them. However, these superficial appearances can often mask the profits and resources that result from doing business with different clients. ERP reports can present unbiased pictures of each organization that a company does business with to make dealing with clients much easier.