With lean business models taking hold and competition getting tighter in every industry, growing a business requires higher levels of strategic planning than ever before. Strategy building with technology solutions like enterprise resources planning is absolutely critical and having the right solutions to support strategy and planning will help businesses stay competitive.
With increasing demand and lowering energy prices in the U.S., operators in industries like chemical manufacturing or heavy equipment manufacturing are seeing new opportunities, and those companies with a solid platform for strategy building will have an advantage in seizing those opportunities.
“The best-performing North American chemical companies will be distinguished by their ability to anticipate the challenges and prepare to capture value in this revitalized landscape,” said Andrew Taylor, a BCG senior partner in a recent report. “Well-informed strategies will allow them to seize first-mover advantages and respond agilely as supply-and-demand developments reshape the chemical industry.”
So how does an ERP Strategy Help you keep up with these developments?
Here are three ways ERP can help you improve strategy building to drive growth.
Plan Smarter and Be More Proactive
A properly configured ERP system will deliver a unique combination of business intelligence, collaboration, and communication tools embedded across your core business processes. With a 360-degree view across your departments and lines of business, you will be able to make decisions that help increase your margins in the short term and the long term. Better plan your supply-chain, anticipate future demand and ultimately drive your business growth.
With integration to social media, customer relationship management and other third-party solutions you will real-time insights into what’s driving your industry and work in a more collaborative environment.
Become more Agile
With a system that is simple to use and navigate through role-specific user experience, your people will have the real time business intelligence that puts the resources your people need most right at their fingertips. This reduces hesitation and turns your people into proactive decisions makers that are able to adjust quickly to the changing market requirements.
Comprehensive built-in capabilities that are easy to customize allow you to accommodate new processes and additional lines of business. Plus, when you deploy your ERP system in the cloud it is easily scalable to meet higher demands, without sacrificing performance or incurring major increases to licensing or hardware investment—or your payroll.
Reduce Working Capital
With automation for billing, invoicing and reporting you can greatly increase the speed of your billing cycle, improve collections and better manage customer accounts in order to boost cash flow and reduce working capital. Improve your human resource practices and gain better employee performance in the cloud when both office and remote employees can perform business processes and connect through the tools and channels they’re used to—such as instant messaging and social media.
goERPcloud is the first on-demand Microsoft Dynamics Cloud Marketplace that allows you to test drive different flavors of Microsoft Dynamics AX, GP, NAV and CRM with preconfigured 3rd party applications. goERPcloud boasts a robust ecosystem of Microsoft Dynamics Partners, helping businesses find the cloud-based software solutions that best fit their current and future business needs. Since 2000 RoseASP.com, the power behind goERPcloud, has provided hosted Microsoft Dynamics ERP and CRM applications to businesses around the world. For more information about goERPcloud, visit www.goERPcloud.com.