How Cloud ERP Can Leverage Business Intelligence and Analytics for Your Company

When they first appeared a few decades ago, enterprise resource planning (ERP) software revolutionized business operations and laid the path for then-unheard-of levels of business efficiency. These days, cloud enterprise resource planning solutions are seen as a necessary evolution of previous generations of ERPs, streamlining operations while simultaneously providing users with the full potential of their organization’s data. 

The remote data-sharing capabilities of these systems allow organizations to remove the friction in data sharing, speeding up decisions and enabling even large businesses to act more like a single entity. Once a cloud ERP is set up, companies with complex structures regain the agility normally only available to small startups.

Consolidating all data processing and decision-making in one system across multiple business sites also has other big-picture benefits. With no barriers to restrain the flow of information, businesses can enjoy better cost-efficiency and scalability. This can be done by fully utilizing the cloud ERPs’ business intelligence (BI) and data analytics features. Here’s how your next cloud ERP can supercharge BI and data analytics to provide meaningful results for your business:

1. Real-Time Performance Monitoring Across All Business Operations

Though conventional ERP systems allow businesses to monitor key performance indicators (KPIs), they are seldom in real-time or across all of a business’s operations. Cloud ERPs permit unrestricted connections between business units, enabling swift adjustments and operations based on current data. This data can be especially valuable for decision-makers who must address quality and service issues across multiple worksites since they no longer have to wait for a weekly or monthly report before they start to take action.

2. More Accurate and Effective Analytics

Since cloud ERPs collate data from all business operations, they can more effectively forecast trends and outcomes for the entire enterprise as well as for specific business units and locations. Also, because cloud ERP systems can track organization-wide data as it comes in, analysts and planners can have a much more granular view of information, should they need it.

Importantly, there’s no longer any need to manually eliminate redundancies or reconcile data coming from different silos as the cloud ERP already provides a single source of truth (SSOT). This improves the quality of data that analysts have to work with, enabling more accurate predictions.

3. Improved Risk and Opportunity Management

With better analytics, cloud ERPs can offer analysts a clearer picture of pitfalls and opportunities, from supply chain disruptions to fleeting financial opportunities. These systems also strengthen data security, helping safeguard sensitive business and customer information while ensuring compliance with regulations. This combination enables more proactive management and a much more agile internal culture that’s fit for today’s dynamic market challenges.

4. Automated High-Quality Reporting

Even the best data is often only as good as its presentation. Hard-to-decipher reports can lead decision-makers to the wrong conclusions, negatively impacting the business. Current generation cloud ERPs solve this long-standing issue with automated reporting tools that can automatically generate accurate, real-time reports presented according to the needs of different stakeholders. Because the data in a cloud ERP offers an SSOT, stakeholders can also be sure that their data is just as good as what everyone else is getting, regardless of how the report is customized.

5. Data-Driven Inventory Management

Where legacy ERPs can only optimize inventory for one department or business location, cloud ERP systems can optimize inventory levels across entire organizations. This avoids redundant purchases and their accompanying warehousing costs, saving the business significant funds over time. More importantly, these systems guarantee that merchandise and manufacturing inputs are always available whenever and wherever they are needed.

6. Marketing and Customer Service Optimization

Cloud ERP systems can analyze sales and customer data to identify the most effective strategies for individual sales channels and across the entire organization. If you have an e-commerce platform, they can even be set up to identify individual purchasing patterns, preferences, and behaviors for each customer, helping your business transcend traditional mass marketing and enabling the mass-customization of bespoke offerings.

Cloud ERPs: Your Key to Relevance in Today’s Big Data Landscape

ERP systems have long been essential for fine-tuning operational management for businesses of all sizes. Until recently, however, they were largely limited because the technology to enable deeper integration across multiple business units over various sites was not fully developed. Fortunately, modern cloud-based ERPs have already solved these issues to provide business operations with data-rich business intelligence and analytics in real time.

Once cloud ERPs are integrated, businesses of any size or type can expect meaningful changes, not just in terms of day-to-day data visibility but also in growth sustainability. The key, of course, is to find the right technology partner to support your business’s transition to the world of Big Data.

ANSI Information Systems is ready to help your business begin this process. As a SAP Business One partner, we can provide expert guidance on implementing cloud-based ERP solutions. Whether you’re a startup or an established business, feel free to contact us directly.