ERP Software Solution Implementations and Business Analytics

In a recent survey, 500 respondents who were ERP practitioners directly involved with enterprise systems decisions within their company revealed that ERP software applications, particularly their business analytics modules were a critical feature and tool for helping managers map out the organization’s strategic plan as well as daily operational business decisions. ERP software and its business analytics functionality lays out template for managers to be more innovative and contemplate new ideas and transform the company to more of a proactive, facts based organization. The key take away from the study was the evolution of ERP software solutions and how the data within a business has graduated from a business intelligence perspective to a critical business analytics, business management tool. The key feature of the enterprise application and ERP modules focusing on business analytics were identified as feature functionalities focused on analytics, incorporating information, reporting, data searches, and performance monitoring dashboards. The distinction between business analytics and business intelligence may be a bit fuzzy, nevertheless, the overwhelming majority of the respondents considered both business intelligence and analytics the relationship between information technology tools and business management. Because business management touches every department and task of an organization, collaboration amongst the representatives of the critical stakeholders within the entire company must be formed as the acting steering committee to guide the standards, selection and implementation process of its ERP software and business analytics tools. The vast majority of respondents also stated that the key benefits of enterprise systems and their business analytics helped make better, faster decisions because they synchronized synching resources with strategic plans and company goals. Accomplishing this cohesive relationship dramatically increases the company’s competitiveness within its industry leading to higher market share and revenues. More than 50 percent of those companies surveyed benefited from significant cost savings from their analytics tools from their ERP software solutions as well. The one consistent negative comment resulting from the survey regarding analytics software in general was successfully integrating the analytics ERP module and ERP system for that matter with with legacy systems and other applications operating within the company. With respect to enterprise systems cost, this integration comprised the bulk of the work and resources associated with the capital investment in the application. To help reduce this significant expense it’s a good idea to select and ERP vendor with solutions and features rich enough to meet and exceed your organizations but make sure you get appropriate resources for your implementation activities from the start. Don’t try to wing this activity on your own. Use outside resource experts provided by the vendor or seek a third party consultant who is current on the ERP solutions and business analytics tools available in the marketplace that fit your business. Make sure to benchmark your implementation and enterprise app with standards of excellence to ensure that all your efforts and will indeed give your business the competitive and costs savings advantage.