Information from Data – Using Fit for Purpose ERP to Gain Business Insight

When comparing ERP systems and deciding which will best meet your needs, it is important to look beyond data. Any business platform will claim to collect data from across your organisation and provide you with a limitless stream of facts and figures you can access at your leisure. But what can you learn about your business from this data and more importantly, how can you use it to improve performance?

Business leaders are already inundated with data and ERP providers will promise to supply you with even more. The question to ask, is not about who can provide me with more data but “who can select the right data to capture and analyse it in a way that provides me with actionable insights that grow my business?”

Fit for purpose ERP systems turn data into information which can then be used to drive decision-making and boost business results. This is what embracing the digital age is all about. For instance, SYSPRO Manufacturing Operational Management (MOM) module closes the feedback loop for manufacturers by ensuring that data is analysed to deliver actionable insights.

From a single platform, users can accurately schedule, publish schedules to the shop floor, collect data from humans and machines, access analytics with loss analysis and use that learning to optimise production. By feeding learning back into the plan, business leaders can boost efficiencies and optimise production.

We live in a data rich age, and it can at times seem overwhelming. So how do you see the wood for the trees and ensure you have reliable information to navigate an ever-more complex commercial landscape? The answer is to select an ERP system that puts meaningful real time information at the heart of your decision-making.

Top 5 things to consider:

In-built business insights

Turning data into information should be at the core of your ERP system, not a nice to have bolt on. SYSPRO’s powerful business insights and real-time reporting means you can monitor your performance against self-defined key performance indicators (KPIs) This provides invaluable insight into the key areas of the business and alerts you when you need to take action.

Embedded Analytics

Data is only useful if it can be analysed effectively, and the results presented in a user-friendly format. Look for visualisation solutions within ERP systems that give you all the information you need to drive the business forward. Time is precious and you want a system that does the hard work for you, connecting insights and actions to give you a clear operational overview. SYSPRO users rely on Embedded Analytics to make data-driven decisions faster and more easily,

Customisation

Different people within your organisation will need access to different information depending on their job role and current priorities. Effective ERP systems empower users to customise their dashboard and decide what information is presented in what form. With SYSPRO you can change the look and feel of the user interface to suit your changing requirements, streamline your business processes and improve user experience without bespoke programming that prevents updates to newer releases.

AI & Machine Learning

Harnessing AI can supercharge business intelligence. Look for an ERP system that integrates disruptive technologies to improve insight. The use of machines learning can enable your ERP system to interpret data at a whole new level. SYSPRO has an AI to UI approach with pre-built models that can analyse existing data and surface to the user interface to support informed decision-making.

Robust reporting

The best ERP systems that convert data into information allow you to be selective in what you gather and disseminate. Ensure that your system helps take the strain by automating the generation of reports such as financial statements and with visual analysis capabilities. SYSPRO Reporting Services (SRS) provides high-quality financial and operational reports and documents such as customs documentations and quotations, together.

Other top tips include doing a sense check. What data does your system really need to collect? It is of little use unless it can be turned into meaningful information to drive business performance. Also, remember that the most valuable data is that which is gathered and analysed over a period of time to identify trends and anomalies. Choose a system that is designed to turn that data into information that can be used to help your organisation fulfil its potential.

As businesses look to secure competitive advantage in a challenging global market, turning data into information has become mission-critical. Ensure that your ERP system can keep pace in extracting actionable insights from the data fed into it. Equip your team with real time insight into business performance. Be it forecasting customer demand, understanding purchasing trends or identifying new revenue streams, the possibilities are endless.

Industry built SYSPRO ERP is designed to give movers and makers a 360-degree view of operations and empower you with the information you need to drive continuous improvement… Find out more on how NexSys can help you empower your business through transformative ERP.