Is Your ERP Reporting Turning Into Action?
ERP systems, when used appropriately, should be the heart of your business. They store large amounts of crucial customer and company data. But what good is all this data if you can’t channel it into anything valuable? One of the issues with ERP systems gaining the capacity to hold copious amounts of data is that users may not understand how to access all this data. Manufacturers of ERP software may not make it easy for you to access it either. Ever hear the term, when you fix one problem, something else breaks? After increasing storage capabilities, some ERP software may be lagging behind in added additional capabilities to access and understand data, nor has their reporting gained anything in sophistication. So what good is the ability to capture more information if you do not have the tools to efficiently analyze it? Simple answer: it doesn’t do your business any good if you can’t use your data effectively to drive important business decisions.
If your business implemented an ERP system simply to collect data, that’s a waste of a lot of good money. ERP reporting is one function of your ERP system that you should put the most emphasis on. Your business reports need to be succinct and accurate, but most importantly they need to be actionable. Do you have an ERP reporting strategy in place? An effective business will have teams sharing the same reporting strategy across the entire organization. First step, is to make sure your team is trained on how to extract the data from the software and how to properly use the reporting functions. If your IT Manager is the only one that understands how to use your reporting system, it is going to become a full time job for them to constantly pull these reports. Or maybe your users will still try to pull reports untrained, resulting in reports with inaccurate or incomplete information.
Accurate reporting is one of the most critical functions of your enterprise software, so assign dedicated team members during the training and implementation process to focus on reports. If you have a specialized report team, they will be able to learn the reporting functionality in the ERP inside and out. They can help screen for errors and faulty data early on, potentially saving your business from making decisions based on bad information. Most important, make sure your team is trained by an expert Consultant who understands what your business and reporting goals are.
The last important thing to consider is there are other tools available that can help you maximize your reporting capabilities. 2W Tech’s Dashboards & Gauges for Epicor is a product that is designed for Executives to get a snapshot of their business in one central place. Designed for use with Epicor 10, this agent uses your SQL database to provide the custom analytics needed to meet the demands of your business. Dashboards display the Key Performance Indicators (KPI) that are important to your organization with the ability to drill down into the details. You choose the frequency at which your data is refreshed. You can control the access to your data and customize the dashboards based on your needs. If you have an Epicor ERP system and want to maximize your reporting capabilities, contact us today. 2W Tech is a certified Epicor ERP Partner.
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