Scaling operations and boosting efficiency are directly related to business outcomes. To accomplish such, you need to uplift your business capabilities and streamline your processes. Here, embedding digital transformation through an ERP software upgrade becomes imperative.
In addition, bringing process amalgamation and embarking automation in repetitive processes can impact and make a difference indeed. Thus, considering this rising need, many businesses are upgrading their system capabilities through business solutions like ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), FSM (Field Service Management), etc.
When it comes to market scope and adoption, Statista adds through their research- the ERP market alone may reach $62.36 billion by the year 2028 with an expected growth rate of 4.78% for the period 2023 to 2028.
According to GlobeNewswire, the ERP software market was recorded at $35.81 billion in the year 2018 which is further expected to $78.41 billion by the year 2026 at a CAGR of 10.2% for the period.
Again, we cannot leave the continuous innovations and emerging technology adoption behind such as AI (Artificial Intelligence), ML (Machine Learning), NLP (Natural Language Processing), etc.
To support the above statement, according to Gartner, 89% of the Board of Directors say that digital solution is embedded in all the business growth strategies, wherein merely 35% of the Board of Directors have implemented and acquired their digital transformation goals or near to achieve.
Further, Gartner says that the Board of Directors are seeking to invest in the top-3 breakthrough digital technologies including AI/ML, Software Enhancement, and Data and analytics. The rest of the considerable technology investment can be seen in the image below sourced by Gartner:
Data Source: Gartner Website
Thus, with this know-how, it can be clearly seen how digital technologies are being adopted to achieve digital transformation. Understanding this need, various business solution providers or ERP vendors are building and offering ERP solutions equipped with AI, ML, NLP, etc. Technologies.
You can even get your customized solution demonstrating your unique needs or supporting your different processes. At LionOBytes, businesses can get their customized ERP solution equipped with the required digital technologies to support their current needs and futuristic goals.
With this overview, let’s mold this blog’s flow toward how implementing ERP can help growing businesses scale their operations and boost efficiency.
How ERP Helps Businesses Scale Their Operations and Boost Efficiency
Streamline & Automate Processes
Implementing ERP in your system can help you streamline and automate your processes that drives efficiency and enables scope to scale up the operations. For instance, an ERP software system can help you eliminate your manual processes, optimize workflow, and accelerate the process flow.
Upgrading your system with an ERP solution can enable you to automate your repetitive tasks such as order processing, billing & invoicing, payroll management, and more, helping you save time and improve efficiency.
Centralized data and accessibility in real-time helps amalgamate processes and enables people in your organization to work collaboratively. Acquiring this streamlined flow helps improve efficiency and impacts businesses to scale their business operations.
With the help of LionO360 ERP, you can manage and streamline your end-to-end operational flow from inventory management to finance management, reports & analytics to workflow management, and more. You can even create and automate workflows whether time-based or even-based exhibiting your process-dependent needs.
Level Up Customer Experience
Keeping customers as a top priority ensures half of customer success. Coming up with ERP upgraded system can help you effectively manage and support your customers when they anticipate. It can also allow you to effectively manage customer information, process orders, and handle their support part.
When data is centralized and accessible by every department in your organization, it can help you serve customers what they anticipate indeed. Your support team can effectively listen and provide seamless solutions to the customers, ensuring improved customer experience and customer loyalty.
Leveraging LionO360’s ERP system, you can effectively manage your customer information, faster order fulfillment, drive quality assurance across each processing stage, and provide seamless support via cases & help desk module along with a generative AI-based email writing tool, etc.
Make Data-Driven Decisions
Access to centralized data in real-time can help the decision-makers in your organization to instantly make strategic and productive decisions. Sales heads or managers can easily analyze key performance indicators, monitor inventory levels, track bills payable/receivables, monitor sales trends, and more helping them to make efficient and data-driven decisions.
Moreover, leveraging reports and analytics in real-time stimulates the process flow and encourages people in your organization to work with full efficiency levels.
When your workforce is updated with every move in real-time and will be able to make decisions instantly instead of waiting for the end of the day, weekly, or fortnightly reports, they will remain more productive and deliver better results.
Now, let's understand what sort of reports you can acquire through LionO360 ERP. Our ERP system enables you to access and leverage reports through customized dashboards. Whether to stay updated with accounts payable/accounts receivable, sales, invoices, or finance reports, LionO360 ERP enables you to achieve all such reports.
Analyse Business Performance
To continuously drive growth and scalability, it is inevitable to know what is happening in your business across the stages and this can be gained via real-time visibility into centralized data. For instance, let’s say that you drive multiple warehouses, and you need to manage inventory-transfer/adjustment, customer returns, shipment, and more.
Here, having a solution to manage your multiple warehouses can help you streamline and optimize your warehousing flow from managing Inventory levels to ensuring payments/receivables, taking care of the distribution part, etc.
Using LionO360 ERP, you can seamlessly manage your inter-warehouse transfers, inventory adjustment, and tracking & monitoring inventory levels. Our warehouse management ERP also allows you to manage the pick, pack, and shipping process.
Furthermore, it also enables you to access related reports such as current inventory status, inventory profitability reports, inventory valuation summary, inventory valuation details, and more.
Seeking To Scale Operations and Boost Efficiency? Implement LionO360 ERP!
LionO360's cloud-based ERP is designed to support constantly growing business needs. Our ERP solution comprises a multitude of features enabling the capability to manage your end-to-end process. Such end-to-end capabilities include inventory management, warehousing, aisle rack bins, purchase order & billing management, credit management, and more.
To ensure global compliance, our ERP solution is also facilitated with multi-currency management features enabling you to effectively operate and scale your business in global locations. To know more about our cloud-based ERP, connect with us.
