Epicor Emphasizes Real-Time ERP Analytics Helps Businesses Grow
The main theme of Epicor Insights 2016 was growth. One of the topics from the conference that was emphasized was the use of Real-Time ERP Analytics and the important role it plays in their customers growth. Another topic that has been discussed a lot lately is IoT and it’s increased presence in organizations. The combination of the two of these is causing Manufacturing companies and their shop floors to become more sophisticated than ever. By collecting data from all areas within a company, businesses can monitor key performance indicators and use those stats to drive the critical business decisions that affects their bottom line. Thus driving business growth.
Up until recently, organizations have been relying on outside BI (business intelligence) software or other analytic tools in order to provide the data intelligence a business needs to operate properly. The issue with these programs is the high cost that is typically associated with them, which means many organizations are going without BI tools and are spending countless man hours doing manual labor in order to get insight into the information it would provide them. Or for those organizations that bit the bullet and are paying the price for these BI tools, they are still spending more time and money on customization and integration with their other software programs. Neither of these options are good ones for organizations. The launch of the newest version of Epicor ERP software now includes data analysis functionality.
One of the benefits of using ERP analytics is the speed at which a business can manage, track, and understand their operations. Having the ability to access real-time information from all departments of your business can help you make quick and informed decisions. Using analytics in your ERP system also helps a business understand what information is important and what is not. A business accumulates a ton of information and without a system to pull out just the crucial information, a business can drown in paper and useless facts. By allowing a sophisticated software program to do this for you, you are increasing the speed at which you can operate and operate effectively.
Companies that are growing at a quick pace could be at risk for outgrowing their current infrastructure. If departments are working in silos and not communicating with each other, the departments don’t know that they are lagging behind or pushing ahead too quick. Having even one department that can’t keep up with business growth, can cause operations to crash. Using real-time ERP analytics will allow you to access critical data any time you need, from anywhere. Implementing IoT or cloud technologies in your organization, and by automating your shop floor, you are taking the necessary steps to ensure all your departments are connected and real-time analytics is possible.
Just like with every software program you implement, you must first evaluate your specific business processes and needs and then determine how to build an ERP analytics strategy that will help achieve that. Epicor has taken steps to give your organization the tools you need to do so, it is now up to you to plan, implement, and maximize the use of them within your organization. 2W Tech is a Certified Epicor ERP partner and has experience with both implementing ERP systems, but also with the project management and training needed to maximize your system once it is installed.