Paul Rogers looks at four key reasons why tech companies are turning to ERP systems to strengthen their businesses.
In this era of seemingly unending digital disruption, for technology companies in particular, the pressure is on to make the most of available technologies to future-proof their businesses. Faced with an overwhelming need to improve time to market, while ensuring their offerings are best in class, more and more technology businesses are themselves investing in technology to help capitalise on demand, creating new revenue streams and pursuing that all-important strategic business growth.
Nowhere is this more evident than in the number of technology companies who are implementing Enterprise Resource Planning (ERP) software solutions. Designed to address the specific needs faced by those operating in the technology sector, by amalgamating key business data from across the organisation in real time, the right ERP software provides both the business insight and market foresight needed to stay one step ahead of the competition. So, just how are ERP systems helping technology companies?
Business agility in a dynamic market
Operating in one of the most complex and dynamic environments, technology businesses need to have the ability and the agility to respond quickly and effectively to an ever-changing marketplace and rapidly shifting customer requirements. The right ERP system enables technology businesses to harness the huge amounts of data that are an inevitable part of doing business today, making sense of this data from across the business to generate real, in-depth business insight.
It’s only with this depth of insight that tech companies can pinpoint potential efficiency savings, not only improving productivity and performance, but underpinning timely, right-first-time decision-making for the ultimate in business agility. This ability to undertake immediate, effective action, with a lack of delays preventing any lost opportunities and the subsequent lost revenue, helps technology businesses to stay ahead of the competition, improving efficiencies and identifying new sales opportunities, faster.
Increased customer understanding
As customers become more digitally savvy, their expectations increase, with customers demanding more innovative products, quicker than ever before. As such, a tech business’s ability to not only innovate but also effectively determine and analyse customer needs are more important than ever. With integrated CRM capability, leading ERP solutions combine this with advanced analytics to successfully anticipate, meet and even exceed customer expectations.
By pulling together and analysing customer information with market data, product information, financial forecasts and emerging trends, business management software enables a technology business to analyse customer needs, behaviours and trends to underpin strategic innovation, giving customers exactly what they want, when they want it. And, by providing real time access to customer information any time and anywhere, the best ERP solutions guarantee real-time decision-making, speeding up business response times for increased levels of customer satisfaction.
Stay ahead of the competition
It’s all very well to have real-time access to in-depth and insightful business information, but if you don’t have the infrastructure in place to make the best use of this information, then it really is a wasted opportunity. The constant pressure to create new, exciting products and services that need to be rolled out quickly and effectively on a global scale, means that seamless global working is a must. The best ERP solutions offer multi-lingual, multi-currency and multi-company functionality for effective and efficient international operations. Flexible and scalable solutions that grow alongside your business won’t stifle your business potential either, keeping you ahead of the competition when it comes to being a truly global player.
In terms of the time it takes to innovate, ERP systems automate vital processes and procedures, lessening the time spent on mundane but business-critical functions, reducing any reliance on manual, error-prone activities, and leaving more time to explore innovation, right across the business. With automated alerts in place to highlight emerging trends, employees have the time to respond accordingly, exceeding customer expectations and stealing a march on the competition.
Putting you in control
ERP solutions can provide optimum levels of visibility not only over your entire business, but your customer base and the wider market too. This real-time visibility, in combination with in-depth business insight and rapid awareness of trends and opportunities, guarantees unprecedented control over your business. This control helps to streamline operations, making valuable efficiency savings and speeding up the introduction of new products to market, in line with rapidly changing customer expectations. This complete control and comprehensive business oversight enables technology companies to capitalise on new business opportunities, growing and strengthening their businesses while turning a healthy profit, standing them in good stead to face whatever challenges our increasingly digitised world may bring.
For more information on how Sapphire can help your technology business to implement the right ERP system, contact us.