Why Spreadsheets Aren’t Enough To Scale My Company
We all know what spreadsheets can do for us. They can store and sort data, and they can perform simple formulas and calculations. And they can do all of this when information has been manually entered. That’s worth repeating: MANUALLY ENTERED. So it’s no surprise that when a business is ready to scale up, manual entry can become tedious and limit growth opportunities.
That’s why Enterprise Resource Planning (ERP) software is an essential tool for any business that is poised to scale up. Here are the most impactful ways that an ERP platform can unlock your growth potential.
Data Management And Security
Running your manufacturing operation with ERP software allows you to store all of your data in one database that is trustworthy and accessible from anywhere at any time. You can empower multiple users to harness the power of a single source of truth and unify all aspects of your operation. A cloud-based ERP platform enables users to be flexible in their working hours and locations while working with accurate and up-to-the-minute data regarding all departments. There’s no need to open multiple spreadsheets tracking separate data that may or may not be the most current information when your EPR platform has everything in one place.
And what’s more, customizable interfaces like barcode scanning and direct 3PL integrations allow efficient streamlining that meet the unique needs of various industries. Manufacturers in the health and beauty and the food and beverage industries might have completely different production workflows, and a dynamic ERP partner can customize accordingly for individual needs with the same all-encompassing path to success.
Analytics And Forecasting
Managing your data in spreadsheets leaves you with a lot of work to do on your own. Calculating, translating and estimating is time consuming. And there’s a lot of room for human error! Time spent working on spreadsheets is valuable time that team members could be spending on other tasks, like operational management, R&D projects and product line expansion.
With an ERP software partner, you can launch your operation to the next level by improving your efficiency and employing powerful analytical and forecasting capabilities. Make the most of your data with intuitive functionality that allows for “What if?” scenarios and Materials Requirements Planning (MRP) automation. Because ERP software unifies all aspects of an operation, you can easily compare your current inventory to your standing orders to find out what is possible for production, how to efficiently fulfill and ship orders, and when to re-order and capitalize within your existing procurement structure. Spreadsheets store data in individual silos, whereas an ERP platform makes all of your information relational and accessible at the click of a button.
Compliance And Document Retrieval
Regardless of the industry manufacturers operate in, every business is obligated to follow certain standards of compliance. And a cloud-based ERP platform gives a powerful advantage both during a scheduled audit and during day-to-day operation when surprise inspections are possible. Spreadsheet data management can leave you on a wild goose chase when an auditor requires document retrieval. But when you employ cloud-based software, your documents are at your fingertips no matter when or where you need them. Bills of lading, certificates of analysis, purchase orders and more are securely stored and accessible at a moment’s notice. When you operate in a state of constant preparedness, you are ready for anything.
Companies that are poised for growth can anticipate data to increase in both volume and complexity. So managing that data can be a hindrance to scaling up when left to manually entry and management alone. Harnessing the power of operational data is essential to scaling up, and manufacturers who partner with an intuitive cloud-based ERP platform have a clear advantage when growth is on the horizon.
Related article: Spreadsheets vs. ERP Software | How Tech Platforms Can Streamline and Strengthen Your Business →
