ERP-The Key to Transforming Real-time Analytics into Competitive Advantage
By Martin Singaram, Head-IT, Valuepro International
Today’s organizations have the zeal to analyse the data which are captured through ERP and set to get the keys to success. Entire strategy for the company’s forward path is decided by the relevant data analysis. Any presentation in the corporate now not only has pictures in PowerPoint but of the facts and figures derived out of the transactions happened in the system.
None of the corporate wants any meeting that “can be, may be, could be” to check the failures and history. Now the real-time analytics provide what-needs-to-be-done-actions-points proactively and not reactively.
ERP—specifically, cloud-based ERP solutions—can play a critical role in helping decision-makers leverage this real-time data at every stage in the business.
ERP is not a source of recording transactions but became a tool to take decisions on the transactions captured. The increased competition has forced companies to become more agile and find fresh revenue streams, all while reducing costs. To compete globally, all firms must increase their speed, accuracy, and productivity to remain profitable.
Advent of cloud computing has made all access to data and applications over the internet possible in real-time. Cloud-based ERP systems offer many advantages including increased data storage, real-time data access, scalability, and reduced costs.
The cloud ERP lets firms access all that big data in real-time anywhere in the supply chain, from the shop floor to the distribution warehouse, allowing every department to react instantly to the changing needs of the business. Logistics firms can upload orders faster, respond to changing despatch schedules more quickly and manage inventory more efficiently. This improved efficiency helps dynamically manage the transit time and makes end customer get the real-time visibility.
Companies are spending less on infrastructure, maintenance, and lifecycle costs by as much as 54 percent, thanks to cloud ERP.
"Companies are spending less on infrastructure, maintenance, and lifecycle costs by as much as 54 percent, thanks to cloud ERP"
Cloud based ERP and Mobile Apps
Mobile applications are a part and parcel of any business now and the entire business of logistics is driven by the mobile application and maps integration with web application.
Mobile technology allows managers and employees access critical data in real-time over a cell phone or tablet. The field people as and when travel to deliver the goods, the same has been tracked now and over phone real-time interactions happening between customer, employee, and real-time data being updated in system.
A study from The Aberdeen Group found that companies who have already implemented some kind of mobile software into their operations realized a 44 percent increase in efficiency.
Wearable Devices in Ecom Warehouse
Google Glass is a natural forerunner. Glass technology could also serve as potential replacement for old, expensive bar code readers and scanners. This has been applied in the floors of warehouse of Ecommerce companies and pick in the floor is easy and now, the work pressure is being changed to work pleasure.
The integration of cloud ERP and wearable technology is the difference maker here. Equipment operators and other workers on the shop floor will access the live data and transactions through their wearable devices, and the cloud ERP applications will turn this information into actionable intelligence for managers who will be able to make on-the-spot decisions. Once again, efficiency and productivity go up while costs go down.
Expected time of arrival (ETA) for any shipment taken for delivery has been made available to the end user real-time in logistics. This predictive analytics put the logistics service provider (LSP) and the end user comfortable in knowing the transit real-time.
Now companies are starting to turn to predictive analytics to refine this decision making. One consumer-packaged-goods (CPG) company mines a massive database of historical point-of-sale and promotions data, integrated with real-time data from social media and weather forecasts, to predict daily demand by store and optimize assortments and promotions in order to maximize sales and profitability.
Now it is possible in ERP to have instant visibility of our sales, purchasing, marketing, finance, HR, warehousing, and operations. Visual charts and reports on the key performance indicators that we have chosen. They’ll also give you integrated reporting which makes it easier to identify patterns and trends from all across the business.
Gone are the days when people used to do the transactions on field and update the same in the later hours. Now it is more customer centric and customer experience management is the mantra for the business and ERP is also developed based on this.
“One of the emerging trends that stand out in the market is greater demand for real-time or near real-time data integration” -IDC’s Survey Results (Overcoming Data Integration and Data Quality Challenges: End-User Survey Results)
Headquartered in Bangalore, India, ValuePro is technology enabled services company operating since 2011. The company offers Facility Management, Employee Transportation, Supply Chain Logistics, and Landscaping & Indoor Plants Rental and Maintenance services.