Businesses cannot continue to use spreadsheets after a certain period. It increases the manual hours spent on data entry, increasing disorganization and decreasing the overall organizational productivity.
And that’s where Enterprise Software comes into play. Also known as Enterprise Application software, these platforms help organizations streamline large-scale data, easing the business and management reporting tasks.
Scroll down to discover the seven key benefits of Enterprise Software solutions and learn how it gives the business a competitive edge, improves organizational productivity, and increases overall revenues.
A word to eliminate confusion: Enterprise software solutions are not limited to large organizations alone; even small and mid-size businesses can benefit from them. Moreover, since there are seven main types of enterprise solutions, let’s understand them and learn how they can help your business.
#1. Enterprise Resource Planning (ERP) Solutions
Businesses use ERP solutions to manage their day-to-day activities better. The ERP solutions tie together a multitude of data and allow the individuals and teams within an organization to collaborate better. Oracle, SAP, NetSuite, Sage, and Microsoft Exchange are some examples of ERP solutions.
Moreover, you can use tons of integrations within these solutions to further streamline the process and bring visibility into every process.
One such example is Itrezzo’s File Sync, allowing businesses to sync Public Folders to iPhone solutions and improve connectivity among teams. Using integrations like Itrezzo, businesses can sync the data to iPhone solutions without manually dragging the data into the mailboxes of everyone who needs them, thus, ensuring a high degree of automation.
The Benefits of Enterprise Resource Planning (ERP) Software:
- Improved Coordination
Better access to data means that the teams can access data anytime, anywhere. Thus, allowing everyone to know about their tasks and removing any redundancies.
- Better Planning and Higher Management Performance
Every department in the organization — human resources, production, sales, customer support, inventory, and supply — can access the data and remove any discrepancies, thus, increasing the management workflow.
Furthermore, the analytical data delivers the much-needed information and helps plan any changes to the workflow.
#2. Customer Relationships Management (CRM) Solutions
As the name indicates, Customer Relationship Management allows an organization to connect with individual customers and maintain a knowledge base. Be it any business — or of any revenue scale — it depends on sales and customers, and a CRM tool helps them take charge of these critical aspects more conveniently and seamlessly.
The Benefits of Customer Relationships Management (CRM) Software:
CRM technology helps businesses increase customer retention, improve sales productivity, and gives them access to customer data.
- Better Access to Customer Data
Some 30 to 50% of sales are acquired by companies that approach potential customers before others do. So, just imagine what role customer data can play in your organization. Excel sheets and lead management tools (via emails) often lead to duplicates and inaccurate or non-relevant data. However, CRM tools are designed to automate these things and predict only real prospects.
- Improve Customer Retention
Organizations can lose, on average, US$ 243 on every lost customer. Moreover, bringing a new customer often costs 5x – 25x more to the companies than maintaining the old ones.
- Increase Revenue and Productivity of Sales Professionals
IBM estimates that if companies implement CRM systems accurately, they can receive an ROI of US$ 30.41 for every one dollar spent. Additionally, by helping the sales professionals to automate their tasks and deliver better customer data, CRM tools help reduce the sales cycle by up to 14%.
#3. Business Intelligence and Analytical Tools
Business Intelligence and Analytical Tools, or simply BI, help organizations to collect, store, and analyze data.
The Benefits of Business Intelligence and Analytical Tools:
- Improve Organization-Wide Decision Making
With the accurate data collected with the help of BI systems, teams can make better decisions. At the same time, it reduces decision latency. Precise data helps the organization identify what changes, risk management practices are critical, and the risk of bottlenecks in the way.
#4. Supply Chain Management (SCM) Systems
While not applicable to all types of businesses, the organizations involved in manufacturing or delivering processes can benefit from a Supply Chain Management solution, as it allows them to manage procurement, storage, shipping, and distribution.
The Benefits of Supply Chain Management (SCM) Systems
- Improved Product and Material Flow
Having real-time access to data about the products, raw materials, and equipment, organizations can eliminate any delays and improve their productivity.
- Ensure Cash Flow
One of the most significant problems of organizations is the lack of cash flow, especially the startups and small businesses. However, the data helps you regulate cash as per need. This allows organizations to better plan their distribution, production, and storage finances.
#5. Project Management (PM) Systems
Project Management systems help organizations with everything related to project management. Creating scoping documents, financing, planning, and workflow — these tools ensure organization-wide success.
The Benefits of Project Management (PM) Systems
- Improve Cash Flow, Increase Project Completion Rate, Avoid Latency
Some 67% of projects suffer from delayed completion, some 27% remain incomplete, whereas at least 72% of projects often need more cash than initially allocated. However, some 89% of organizations using PM software say it helped them deal with all these effectively.
#6. Marketing Automation tools
Marketing Automation helps organizations automate their tasks and improve access to data.
The Benefits of Marketing Automation Systems
- Helps Organizations Understand Their Processes
When it comes to overall organizational maturity, not many project leaders are aligned with it. Instead, they tend to focus on short-time, strategic gains. However, having access to the data helps the project leaders and executives identify the long-term, intangible goals, improving the organizational maturity.
#7. Business Process Management & Automation Systems
Business Process Management and Automation Systems help the individuals and teams better understand each other and their processes, leading to overall success.
The Benefits of Business Process Management & Automation Systems
- Better Competitivity, Flexibility, and Scalability
Optimizing daily patterns can help the organizations understand their daily markets and recognize the transformations happening in other organizations, allowing them to bring the same changes, if not better solutions, to their organization.
Of course, businesses need not use all the Enterprise Software Systems. In fact, any of these tools come with the added functionality of other solutions mentioned here. So, organizations, especially SMBs, should focus on using one that better complements their business.