Quick - what's the most valuable non-product component of your business? While answers such as employees, sales and marketing might spring to mind – and certainly can be correct – the truth is that data is an often-overlooked top driver of your business.
It helps you intelligently allocate resources, expand your reach with a much smaller degree of risk and make important decisions based on real-time facts. If utilized efficiently, data can become a powerful and important tool for the growth of your business. The methods of collecting and sharing this valuable data are equally as important.Why Pen and Paper Should be Written Off
Papers, notebooks, files and other physical forms of record-keeping are subject to a variety of vulnerabilities, and lack the automatic “paper trail” of an electronic system such as ERP software. With a paper-based system, if a cup of coffee falls on last year's data or a disgruntled employee decides to swipe the only copies of a customer list on his or her way out, recovery can prove extremely difficult, if not impossible. With ERP software, a manager or business owner can safely organize and back up data with a few keystrokes, as well as prevent extraction by setting access levels which allow only certain groups to view sets of data.
Conversely, a comprehensive data system such as ERP enables employees across teams, departments and multiple sites to share data in real time, optimizing resources and reducing potential for human error.
Data Flexibility: Comparison in a Snap
Running a business with pen and paper records requires a great deal of work that eats into productivity and delays solutions. ERP software organizes data in a digital format and allows a company to forecast, predict and mitigate issues with a swiftness that simply can't be matched by physical record counterparts. The ability to extract organized data swiftly for critical business process from order processing to invoicing, to gathering numbers for shareholder meetings and conference calls, allows businesses to manage events much more effectively, even when they pop up at the last minute.
A fast, easy way to “modernize” your storage and use of important data, ERP software can completely revolutionize the way a business operates. Retire your pencil, pick up a keyboard, and join the future of business progress through ERP!
Are you stuck in the middle ground between paper systems and comprehensive ERP? Check out next week’s blog: “Time to Upgrade from a QuickBooks-Based System: The Limitations of Disparate Digital Data Processes.”