Importance Of Real Time Data By ERP Software
The data is growing. Is your company growing with that?
The quantification of data generation in most companies are huge. When I say huge, its gigabytes of data generation every minute. The challenge is converting these data into meaningful information in very quick time period. It has become quite evident that the pace of data generation is not going to slow down in near future due to multiple touchpoint and streams.
Knowing the above fact, the important question here is ‘Are these data creating value for organisations?’
Business Intelligence flu has spreaded wider than enough in the economy resulting in faster processes, quicker decision making and lots and lots of competition and challenges.
A faster delivery is a key factor for growth not only in food delivery business but also in every business. Faster delivery of information to the concerned and relevant executive in your enterprise is important than information flowing across the enterprise but the decision maker.
Problem– Faster access to relevant information
Requirement– Faster and robust system
Faster system- A system which provides more amount of data and closest to the time that data is relevant.
Faster system-Faster decision making-Faster growth.
I made the above statement because most of the companies have measured the necessity of faster ERP system. Having intelligent ERP has become necessity more than a luxury. That is why 41% of enterprises are considering shifting to cloud based analytical system to enter in a faster yet safer economic space.
ERP has a growing popularity among enterprises to integrate all the processes and departments. With wide discovery in Business Intelligence and that too a vast progress of BI incorporating in ERP, is making possible snap wise decision making benefitting every department and eventually to whole company.
Tools and Features in an integrated ERP
Dashboard is a screen in an ERP system which depicts the key performing business metrics infront of your eyes. Just few clicks and it allows you to drag the information and analytics in just few seconds.
Dashboard: A story teller
Your ERP dashboard should communicate the story line of your business. It should be insightful and illustrative. A compelling message should be conveyed with the help of rightful ratios, numbers and metrics. The more accurate and resonating story, the better actions can be taken.
Lean and focussed to the goals of the enterprise in a sign of good dashboard. The dashboard functions are:
Gather and Visualise
Gather the entire data from manual inputs and transactions across the organisation. Putting these data in a sorted visualised form which give real time information to the users.
The dashboard is often customisable. Add the metrics and streams as per requirement comes up. The organisation should know what kind of metrics are important to them and accordingly dashboard will depicts such insights. Often it depicts information in number form to be better understandable to the users.
Linkage across the departments and processes to make sense for the dashboard to depict the relevant information.
Graphs, Charts and Statistics
As mentioned above the data for visual learners, ERP must have functionality should provide real time data as well as historic comparison in the form of graphs and charts. A holistic view helps in predictive analysis and also drives efficient budget formation.
Graphical real time information is like google analytics which provides an interactive interface and also allows to pull the required information in intuitive manner.
Cloud based means all your data is not in the internal storage but present in internet. It is better option than on-premise cloud as it is:
- Cheaper to adopt
- Protects integrity
- Accessible from anywhere-anytime
The largest companies are favouring the cloud strategy. Many more collaborations have come into the highlight in recent times for cloud sharing.
With generation of an immense size of data, extracting and gathering information after 24 hour of time period is an obsolete course of action. Today, it has be ‘Now or Never’. This saying goes for grabbing opportunities, making decisions, undertaking collaborations and defusing threats. As computer power improves, data mining becomes possible and real time data extraction becomes easy. You just need a robust, accurate and relevant system for your enterprise.
How about TranZact ERP software?
TranZact is a cloud based ERP solution for manufacturers and traders. With an interactive dashboard and presence of business intelligence, the information extraction is easy and quick. A structured information is presented in different modules. Also, it integrates with tally for full powered performance. TranZact is a smart business software which enables bird eye monitoring and controlling.