Why Real-Time Reporting Is Crucial And ERP Makes It Easy

In the present times, most businesses are actively looking for data-driven solutions that would increase the efficiency of business operations and lead to more profits within a short time. Choosing the best ERP software in India and ERP for production can elevate your business and help you achieve your targeted ROI sooner. Read this blog more to learn how ERP for real-time reporting can help your business.

What Is ERP Software?

An ERP (Enterprise Resource Planning) system is a software platform that streamlines business operations by integrating data from all departments of your business in organised, detailed, and presentable reports. The centralised database enables you to have a full picture of the business’s operations, whether it is finances, sales inventories, production, human resources, or any other operation from any department. ERP for manufacturing industry helps employees to focus on the manufacture of products, strategize sales, and focus on all essential tasks while the software automates data management of all the processes.

A report from Panorama says, “ERP implementation led to business process improvement for 95% of businesses.” By utilising ERP software in your business, you will help your business reach newer heights in profits. What makes this special is that the ERP software doesn’t require any specialised knowledge and is configured to fit your business. 

Why Is Real-Time Reporting Crucial?

An ERP software streamlines business operations by providing real-time information in detailed reports. Let us know about its importance in today’s data-driven world: 

Advanced Reporting

ERP software has real-time data-tracking features which produce instant reports with detailed visual representations. This includes charts, graphs and dashboards. This makes it easy for manufacturers to interpret and analyse data quickly and make quick decisions based on the accurate data tracked by the software. This helps your business to gain instant access to critical information whenever you need it.

Improved Efficiency

All the departments of your business have increased productivity due to data being updated in real time. There is no unnecessary time spent on manually tracking data and creating reports periodically. The automation of such tasks also helps your business to receive accurate data which lacks errors from manual labour. All the departments of your business can focus their time and resources towards tasks which are more important and much less repetitive.

Complete Transparency

The data which is shown on the ERP software can be accessed by authorised individuals at all times. There is complete transparency since the data of all your business operations are being tracked accurately by the software. Whether it’s information on customer interactions, production processes or statistics of the operations, all information can easily be accessed from the dashboard of the software. This enables your business to make smart decisions at a much faster pace.

Decreased Manual Labour

The ERP software decreases the overall manual labour of your employees by automating repetitive tasks. This increases the productivity and efficiency of all the staff across different departments. You can also save a lot of time and resources from this because you won’t need additional employees to track, report and analyse data periodically for your business. Due to the ERP software being cloud-based, you will not need additional infrastructure or an IT department as well, which benefits your business in the long run.

Better Collaboration

When data is accessible and easy to understand, there is improved collaboration between departments within your business. The ERP software helps with smoothening your business operations. It decreases any confusion or instability that would have been caused by inconsistent data tracking and timely report presentations of different departments. An ERP software benefits your company with less delay and possibilities of errors within tasks and efficient collaboration between employees.

How Does ERP Make It Easy?

ERP software benefits the employees of your business in many ways, by reducing manual effort and increasing efficiency. Let us know how the software makes reporting easier:

Dynamic Reporting

The ERP software helps businesses to interact with real-time data and read reports which are specific to certain business objectives. It helps your employees to add or change the report’s format or layout whenever needed with its advanced customisation. It is a valuable tool for business since the features can adapt to the needs of the business whenever required. This helps your business to gain a competitive edge in the marketplace. 

Centralised Data

All of the data of your business operations is stored and managed within a central database. This allows your business to have improved efficiency since there is no need to repeatedly ask for updated information from other departments of the business. Moreover, your employees will benefit from the user-friendly features of the software, which will help them to easily understand the data. 

Automation of Tasks

Your business needs to keep up with the fast-paced economy of the world, so it is important to automate tasks which unnecessarily cost lots of time and resources. The ERP Software automates a lot of tasks which helps your employees to focus more on business strategies and tasks which need more attention.

Easy to Use Dashboards

The dashboard features make data easier to understand and enable your employees to have a clear view of data across all departments. With a touch of the finger, you can click on data reports and receive detailed information with visualisations. The complex information is clearly outlined within the dashboards which helps your employees to dig deep into the data with ease. 

Accessibility

One of the main features of a cloud-based ERP software is the accessibility of data. You can access information from any device, whether from a mobile phone or personal computer. This enables your employees to stay updated with real-time data from any place in the world. If you immediately need a report on cash flow, sales, or production, your ERP software will swiftly provide you with the information without any delays. 

Read More: https://www.expanderp.com/how-erp-solves-the-struggle-of-using-multiple-software

Conclusion

ERP software provides smart solutions for your business by effectively collecting, managing and providing accurate data. The real-time accessible data with detailed reports enable your employees to make thorough decisions which benefit your business and help you stay ahead of the curve.

  

Leave your worries behind with the best ERP software in Kolkata. Contact Expand smERP to create a difference in the marketplace. 

Top ERP Reporting Benefits for Better Business Decision-Making

Does your business face issues in managing data, too much manual labour, or handling customer interactions? ERP for production provides quick and effective solutions to such problems. Read this blog by the best ERP software in India to learn how ERP reporting benefits your company and in what ways: 

What is ERP Software?

Enterprise Resource Planning (ERP) software is a system which facilitates business operations by collecting, managing and integrating data across different functions of all departments within the business. The data is centralised and kept within a single database, which provides easy access to all authorised individuals of the business. The examples of business operations which the ERP software keeps track of include human resources, inventory management, customer service, manufacturing and many more. ERP for manufacturing industry enables the business to improve productivity, be more efficient, save costs, improve collaboration and make informed decisions based on real-time data.

Business decisions require accurate and updated reports on data of all ongoing operations. Let us learn how ERP Reporting can solve problems in reporting and how your business can benefit from it:

Graphical Representation of ERP Reporting Benefits

Real-Time Reporting

One of the major benefits of ERP software is the feature of real-time reporting of business operations. This feature applies to functions of all departments of your business, whether it is sales, marketing, HR, procurement, orders, inventory, finance and so on. 

The software tracks all KPIs of your company’s processes and helps with formulating necessary strategies, leading to faster decision-making.

Organised Workflows

ERP software can help your employees access all needed data from the platform with its centralised database. Moreover, the data is organised according to the needs of your business and the reports are also highly customisable. These features enable the workflow of every department to become smoother and increase overall productivity. 

When every process of the business is reported and evaluated in real-time, this ensures that your business can immediately work on any gaps that may appear and make sure everyone is up-to-date with their work.

Cost Savings

ERP software helps your business to save a lot of costs in many ways. Manual reporting in businesses usually requires a lot of time and resources, which can cause many delays. By automating most tasks within data management, your business will not need to hire additional employees or maintain an entire infrastructure to just collect, maintain and analyse data on your company’s processes. 

In this way, ERP software helps reduce costs and lets your business read your ROI objectives faster.

Cloud Security

Another major benefit of ERP software is its cloud security. With dedicated security resources and data distributed across multiple servers, cloud security of ERP helps protect all assets of your data. Since the data is centralised, your data has increased security without needing multiple layers of security across different systems. 

ERP software also has the feature of limiting access to the data so that only authorised individuals can view and edit the data.

Accessibility

Due to the cloud-based storage of the ERP software, you can access all the vital information from any device. Whether you are on a mobile device or if you are using your device, you can track real-time data and read reports from anywhere.  

This is especially helpful for situations where employees need to travel frequently or have to do more on-field work and require updated information while doing so. The software’s user interface is also well suited for mobile users.

Read Also: ERP Reporting: Top Features To Consider For Your System 

User-Friendly Interface

ERP software has interfaces which are easy to navigate. It helps you and your employees to search for information they need whenever required. The process of entering data into the system is also really simple. 

Even generating reports on the software is easy and can be swiftly done within a few clicks. The user-friendly interface helps save your business a lot of time and lets your employees invest time and energy in other important tasks.

Flexibility

The needs of the business can change over time, and with the software of ERP and its highly adaptable features, your business can run its operations as desired without much worry. The system lets users tweak settings according to specific requirements, whether it is uncommon metrics or unique processes. 

The software’s customisations also allow you and your employees to design your reports however needed. The platform will adapt to your company even if the KPIs or structure of workflow evolve differently over time.

Accurate Forecasting

Your business can prepare itself for any situation due to the accurate forecasting provided by the software. It uses all the previous records of your business’s data to predict expenses, revenue or future demands which you may face. Due to all the data being centralised in one location, the reports prove an accurate insight and deliver detailed reports on predictions. 

This helps your business to effectively strategize your plans in marketing. For example, the software may predict that the demand for your products is likely to increase by 40%, so you can purchase more inventory beforehand to stay prepared.

Enhanced Customer Service

For any business looking to integrate better customer service, ERP software can provide many benefits. With features like better access to customer information, improved order accuracy, and faster response times, your business will be able to deliver better customer satisfaction. 

The ERP software helps by automating all tasks and putting all customer information, order history and contact details of customers in one place. This enables your employees to work on solutions faster and create personalised experiences for customers who need assistance.

Scalability

If your business is expanding and needs additional support to manage growing teams and infrastructure, ERP software can easily adapt to all the changes. The software is designed to scale with your business and keeps tracking and managing all processes efficiently. 

This reduces the workload on the IT department of your company or the need to hire more specialised staff dedicated to such purposes. Even when your team expands, newer members can simply log in to the system and access all the needed information whenever required. 

Conclusion

ERP Reporting can provide smart solutions to complex problems within business operations easily. With its advanced real-time data tracking features, automation of tasks and centralised database, your employees can focus on other important tasks which require a lot of time and resources, and allow your business to make better decisions.

Implement ERP solutions within your business with the best ERP software in Kolkata and revolutionise your business strategies. 

ERP Reporting: Top 8 Features To Consider For Your System

The competitive marketplace is continuously changing with the introduction of new technology. Businesses need to quickly adapt to circumstances to make faster and more efficient decisions. To help your business, the best ERP software in Kolkata is here to provide the right solutions. Read more to learn about the features of ERP software.

Implementation of ERP has reportedly observed improvement in 95% of business processes. It can help your business by providing useful insights to your business, reducing overall costs and time taken by the entire process.

ERP software automates financial and operational tasks and gives a detailed visual representation of your business’s data, reducing the manual effort needed for all these integral tasks.

So, if you want to understand the features of ERP for production business, continue reading this blog to learn how the best ERP software in India can help your business prosper.  

​ Recommended: 18 Benefits Of Cloud ERP System: A Revolutionary For Productivity

Top 8 ERP Reporting Features You Should Know

ERP reporting assists your business by real-time reporting of data, service analytics, and customisation of dashboards along with a variety of business tools. It measures your company’s performance and analyses the finances accurately. Is your business considering ERP for manufacturing industry? It has been reported that the manufacturing industry is the No. 1 user of ERP software. ERP software helps ensure the smoother process of your business operations. To help guide your decision, here are the top 8 ERP reporting features:

 

1. Real-Time Data Reporting

With an ERP system, you will have access to real-time data. It helps in observing all business operations, such that you can cultivate better strategies and decisions based on all the information available. The reports enable your business to identify trends and patterns that help in enhancing your business’s overall output.

Apart from this, an ERP reporting system can schedule reposts which are delivered to your inbox on a timely basis. This helps in increasing your focus on other essential tasks of the business, which in turn boosts the productivity of you and your other employees.

2. Customizable Dashboards

Customizable dashboards allow your business to see information that can be curated for specific departments or tasks. It allows you to access information that is necessary to your set goals.

Every department in your business has different needs when it comes to making reports. To keep track of metrics and KPIs of various departments, having a customizable dashboard helps with accessing all the information with ease. This ensures productive workflows and reduces the time spent searching for relevant information.

3. Advanced Data Analytics, AI, and BI Integration

AI-driven analytics can provide predictive insights, helping companies foresee market trends, customer behaviour, and operational inefficiencies. This helps in speeding up all business operations, reducing the time taken for the completion of a multitude of tasks within your business.

Does your business deal with the slow, last-minute deliverance of operation tasks that slows down your business? That might be a sign for your business to include ERP systems in your company systems. AI tools can speed up tasks in finance and operations which decreases the time required for other operations in your business.

Business intelligence is the process of using technology to analyse and present data in a way that helps managers, executives, and other end users make better business choices. Business intelligence tools within an ERP system can be utilised to generate custom reports, dashboards, and detailed visual reports to create strategies for boosting sales.

Moreover, BI can improve customer experience and predictive analytics with personalised customer interactions and improve response timing. There are many benefits of BI within ERP reporting, increasing the scalability of your business.

4. Interactive Visual Reporting and Interactive Features

It is difficult to interpret data when the details are not visually represented within a report. With this feature, ERP software creates interactive visualisations of your reports, so that your employees face no issues when identifying essential patterns and key trends. Examples include charts, graphs, heatmaps, and infographics. With a click of a button, your employees can dig deeper into the deeper.

 With your database all in one place accompanied by interactive visualised reports, you and your employees can save a lot of time and effort and focus on other essential tasks, boosting productivity. 

5. Automated Reporting and Scheduling

To ensure your business saves time by not involving themselves manually in tasks that are repetitive, ERP helps by automating such business tasks. Automation of tasks like processing orders, invoicing, and payrolls helps with reducing possible errors and time taken in manual data entry, further helping employees to focus on tasks that are more value-added. Moreover, the automation of these tasks means that there are no errors and there will be an increase in efficiency of all business processes.

6. Cloud-Based Reporting

Cloud-based reporting helps your business to generate, and share reports via cloud-hosted ERP software. Cloud-based ERP software stores data on remote servers, helping your employees to access their reports from any location and device, as long as they have an internet connection.

Cloud-based reporting gives your business several advantages due to its accessibility and robust security. It’s also cost-effective as there is no need to recruit additional IT employees or build dedicated infrastructure for this purpose.

Moreover, if your business is upscaling across different departments, cloud ERPs immediately adapt to your business, allowing your company to grow without any interruptions.  For example: in a manufacturing company, the ERP software might include a production and inventory tracking template that automatically pulls data from the warehouse and production lines, saving the operations manager the task of compiling data manually.

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7. Pre-Built Templates

Prebuilt templates in ERP systems are ready-made, standardised reporting formats designed to meet the needs of different departments within a business. These templates are customizable but come pre-configured with the most fields, data points, and calculations required for specific reports. This ensures faster report generation and consistency across all departments in the company.

8. Robust Security and Role-Based Access Control

Presently, data privacy and security are top priorities for business. Cyber threats have been increasing every day, risking companies to incur unexpected losses. ERP software ensures all your business’s data are safe and secure, with access only to authorised individuals. The sensitive information of your business won’t be at risk of cyber threats.

Conclusion

ERP software helps your business to make faster and smarter decisions. It gives your company a detailed and accurate insight into the business operations. With features like real-time data, advanced analytics, and robust security, the business can function smoothly without any roadblocks. Moreover, your business can focus on the development of better services and products for your customers.

By choosing the best ERP system in India, you’ll ensure that your business can stay ahead of the curve within the business landscape.

Common Reporting Challenges Solved by ERP Systems

Struggling with reporting challenges in your business? Wondering how an ERP system can streamline your reporting process? Explore how ERP solutions can eliminate errors, automate data collection, and provide real-time insights, making your reporting smoother and more efficient than ever before!

If you’re a business trying to make a difference in today’s economy, you must know how difficult it is to stand out when the operations are slow-paced. One of the primary reasons behind the slow pace can be creating manual reports for all processes for your business. Manual reporting can result in inaccurate reports and prolonged delays of important tasks. As the best ERP software in Kolkata, we recognise the systematic challenges businesses face in today’s world. Continue reading to learn about the most common reporting challenges and how ERP systems can help solve them:

Accurate data tracking and detailed reports by ERP software help businesses become faster and more efficient in meeting their set goals. A 2023 study found that 83% of companies which used ERP met their ROI expectations.

If you are considering an ERP for production, then the best ERP software in India will provide you with solutions to reporting challenges. Continue to read to learn about the reporting challenges ERP solved:

How ERP Systems Solve Common Reporting Challenges

1. Multiple Systems and Data Silos

Many businesses still rely on multiple systems to manage business operations. The company’s departments have dedicated systems for Finance and HR, where such systems operate for their specialisation. This makes putting together a singular detailed report for the company incredibly difficult. After the systems from different departments put forward their data within a report, the finalised report is delivered after a long delay. As a result, businesses face issues like delays in reporting and difficulty tracking performance across all departments.

ERPs have a single database which tracks data of all departments within the company. This eliminates any possibility of delays. The data is tracked in real time and does not need different systems. The ERP’s central database helps in the smooth functioning of decision-making in the business. Since the reports generated by the software are produced immediately, your business will not have to give time and effort into making reports from time to time. This allows you and your employees to have easy access to information within one system. 

2. Manual Data Entry and Reporting Errors

Employees often need to input data from multiple sources into spreadsheets or reports. Small mistakes in reporting can lead to inaccurate insights, which in turn affect decision-making in your business.  The entire process can lead to the loss of valuable time and resources.

ERP systems automate data collection and reporting processes. Automation ensures the accuracy of reports and eliminates the risk of errors. Moreover, it also provides insights into expenses, profitability and revenues which helps develop strategies for your business.

3. Lack of Real-Time Reporting

In many businesses, reporting is a periodic activity. This means that the process of decision-making ends up involving outdated or incomplete information when they are cultivating important strategies. You must know the importance of timely operations within a business. With prolonged delays, a business can face losses or fall behind its competitors.

ERP software tackles these issues with its ability to track real-time data. It also creates detailed reports backed by visuals which are easy to understand. Cloud-based ERPs also have the feature of live dashboards, which you can access from any device. You can be updated about the details of every business operation, from anywhere in the world. 

4. Inconsistent Reporting Formats

Different departments within a company have varying methods of generating reports, leading to inconsistencies in data presentation. For example, while the finance team may use spreadsheets, the HR team may rely on a different software. When these reports are compiled, it can become increasingly difficult to analyse and compare the data effectively.

ERP systems streamline reporting by offering standardised templates and formats for different types of reports. This ensures consistency across all departments within your business. Moreover, the time taken to generate these reports is also saved.

5. Overburdened Employees

ERPs save a lot of time, cost and effort for your business. A lot of time goes into the management of data, while consistently keeping tabs on it. Companies using multiple systems are also often dysregulated and don’t have a seamless workflow. Their overall productivity decreases when they have to get involved with non-essential tasks, which could have been used in other meaningful operations of the business.

With ERPs, your business can help increase the productivity of employees. There will be a higher quality of work produced and an overall increase in the speed of completion of tasks. For example, with ERP in manufacturing industry, your business can utilise time for important tasks, manufacturing products of the highest quality.

6. Struggle with Accessing Data

For businesses which use outdated systems, where they have to gather information from multiple systems, it becomes difficult to access data at any time whenever needed. This delays business operations because they are held back by the slow process of data collection, reporting and presentation.

Cloud ERPs solve this issue with real-time data and reports which are continuously updated with the system’s interactive visualisations. The data can also be accessed from any device, including mobile. Your business can focus on making faster decisions without delays.

7. Poor Data Quality and Integrity

To create business reports, employees need to ensure that the data is accurate.

With inconsistencies in data, the reports can hamper a large part of the business processes. Without the right tools, companies may find it difficult to identify the reasons behind the poor quality of data.

ERP software is always up-to-date with the data of your business operations. The features of the software always ensure your business that the data shown is reliable and trustworthy. These systems continuously monitor data inputs and flag inconsistencies or errors for review. 

8. Difficulty in Reporting as the Business Grows

As a business expands across different departments, it becomes increasingly difficult to follow up on all the data. Handling such big databases within separate departments poses a big challenge for the business. Traditional reporting tools may struggle to keep up with this growth, leading to slower reporting processes, system crashes, or outdated reports.

ERP software adapts to the scalability of your business, according to its needs. Cloud-based ERPs quickly adapt to the data from separate departments of the company, without any hassle. Whether a business planning to expand regionally or increase the production of products, ERP software can track all the data of your business as it grows. The performance of your business will not be compromised in the process. 

Conclusion

There is a growing trend of companies involving advanced technology in their business operations. ERP software plays an important role in this technological evolution, as businesses look for methods to make their operations quicker and better. With features like real-time data access, automated reporting and better data quality management, ERPs are helping businesses to exceed their performance and meet their ROI expectations much earlier.  

The reporting solutions provided by ERP software help businesses to thrive in a fast-paced environment. It helps your company make decisions based on accurate data and detailed reports.

If your business is still struggling with reporting challenges, it might be time for you to choose the best ERP software in India, so that your business can prosper without any hassle!