How Can An Enterprise System Transform the Way I Execute My Business?

If you have found yourself reading this article, you might be wondering what exactly is an enterprise system. Or you might be intrigued as to how it works as a cohesive system. Well, the team here at ThunderQuote are ready to help you delve into the mysterious world of enterprise systems to give you the best information we can!

Enterprise systems are there to integrate information and organizational processes across functional areas with a unified database, and shared operating tools. This system is made with a goal in mind and that goal is integration and efficiency. Being a large-scaled application software, it supports your business processes, your information flows as well as data analytics if you own a large corporation. Smaller corporations can also benefit from enterprise systems!

Figuring out why you should invest in an enterprise system might prove to be difficult but we are going to try our best to help you figure that out

Categories of Enterprise Systems

  • Enterprise resources planning (ERP) systems
  • Enterprise planning systems
  • Customer relationship management software

Transforming Your Business with Enterprise System

An enterprise system works towards creating an outstanding contribution in a company’s strategy, organization, and culture. It pushes a company toward full integration even when a certain degree of business-unit segregation may be in its best interests. And it pushes a company toward generic processes even when customized processes may be a source of competitive advantage.

If a company rushes to install an enterprise system without first having a clear understanding of the business implications, the dream of integration can quickly turn into a nightmare. The goal of enterprise systems is to streamline your business productivity and improve the quality of decision making by consolidating information across multiple departments, business units and functions. Your main goal is to have all your operations and daily work at the office run like a well-oiled engine! 

Moving towards coherence

Just imagine the benefits of ERP which is not only with reduced IT & training costs, an ERP can reduce the time and effort required by your workforce to carry out their daily activities. Properly implemented, an ERP can greatly reduce or eliminate repetitive manual processes, thus freeing up team members to focus on revenue-affecting tasks.

Like mentioned before, the main goal is to promote efficiency. Why do something manually when an automated version of the same action has been made. It just seems like the best idea to get onto the ERP bandwagon as soon as possible.

Streamlining Business Processes

Businesses faces many challenges, one of the main challenges faced by businesses today is information fragmentation. We have seen companies struggling  over having data tied to different formats, distributed across multiple locations, manipulated by different applications, and residing in a generally disconnected manner. Fragmented information decreases the quality of managerial decision making, decreases operating efficiency, and introduces unnecessary administrative overheads.

Enterprise systems remove the bottlenecks created by fragmented information, optimise business processes and increase productivity through improved communication between departments, suppliers and customers. This creates a more efficient and effective business by understanding operating environment and identifying redundant processes.

Benefits of creating visibility

Design of ERP tools facilitates transparency and visibility by allowing you to monitor inventory levels on a daily basis, including future consignments that are yet to be received and inventory that’s currently in transit. This will inform us on the exact state of inventory levels, that you can control and also working capital for the long-term success of a business.

Cost Savings with Enterprise Systems

Every business is unique and selecting the right enterprise system involves understanding your company, its opportunities, challenges, and frustrations. Integrating supply chain management and accounts within a centralised system is important to have a great overview of all the moving and non-moving parts of your company. Improving your knowledge of suppliers and expenses is also another way in creating Business Intelligence and ERP Enterprise Resource Planning.

The major benefit of a tailor-made solution is that it is customized to your business. As a result, your business invests in a software solution that matches its processes and operations without imposing pre-determined structures. Determining the right enterprise solution takes time and requires a clear understanding of business problems, opportunities and objectives. A correctly designed and implemented enterprise system will support your business by providing it with improved information flows, better analytical capability, augmented internal control and a shared view of reality.

All about inventory

Ensuring the right ERP system allows you to manage your warehousing costs efficiently. The best way to do this is to keep inventory as low as possible by implementing systems that allow you to treat your warehouse as a junction in the link between your supplier and customer. You should also use your ERP system to identify slow-moving inventory and price it to reflect its higher warehousing cost.

Integrating inventory

Eliminating duplicate systems is a quick way to reduce costs. Cost can be reduced when business consolidates into a single warehouse and a single ERP. Driving cost reduction by ensuring that there’s a single point of responsibility in your business for keeping a handle on excess inventory. Don’t forget the basics, such as getting rid of aging inventory. The payoff is not just IT cost savings, but also better business performance due to streamlined business processes.

Embrace E-commerce

E-commerce is nothing new, but most businesses are investing on e-commerce platform. Providing a self-service portal for customers also frees up your customer service resources. The availability of real-time data from the ERP system onto the store front allows customers to view available inventory, latest order status, and track shipments with tracking numbers. This helps in reducing my cost of operations and improves customer experience with my store front.

If these reasons can’t convince you on how an enterprise system can transform the way you execute your business, we don’t know what else will! So, if you have decided to take the leap of faith, ThunderQuote is more than ready to help you get started by giving you the help that you need! Visit our website today!

 

ThunderQuote is the most comprehensive business services portal in Singapore, Australia and ASEAN , where hundreds of thousands of dollars of procurement contracts are sourced every month by major companies like Singapore Press Holdings, National Trade Union Congress and more.

Share this article !