Using Enterprise Resource Planning To Analyse Customers, Sales Data and Plan Future Growth
Here, we take a look at the ways enterprise resource planning can be used to plan business growth through the analysis of sales and customer data.
It’s no secret that data is king in this modern era of commerce. Data allows business owners to make important decisions based on facts rather than conjecture. From analysing sales data and customer buying habits to providing real-time insights into your business operations, using fact-based evidence is essential for sustained future growth. Here, we explain how an ERP system can help you streamline these processes and propel your business forward.
Analyse Sales Data Using Enterprise Resource Planning
Data analysis is one of the cornerstones of enterprise resource planning. Client, production and sales data are all analysed in real-time to provide a comprehensive picture that allows you to make more accurate, meaningful and effective decisions.
With an ERP system integrated with the other internal IT systems in your company (CRM and BI software, for example), you can understand your historic sales data to tweak your current processes.
You might discover that a certain product or service consistently sells well amongst a particular section of your customer base or at a certain time of year. This data, along with the supply chain data pulled from the enterprise resource planning system, can help you ensure you plan for future demand and market it strategically.
Sales data could also indicate that one of your products is beginning to fall in popularity while another is rising. An ERP system ensures you react to this seachange. With data from enterprise resource planning, you can prepare the supply chain for growing demand and reduce investment in materials for the product or service plateauing. Through precise analysis of historic sales data, you can use your enterprise resource planning system to ensure you always remain on the front foot to meet changing demands.
Customer Analysis Made Easy With Enterprise Resource Planning
Sales and customer analysis are joined at the hip in many cases. It’s all well and good seeing that X product is doing well and Y product isn’t – but who is buying X and who is buying Y? Answering this question can help you ensure that your marketing is cemented in a customer-focused strategy. Your ERP system can help you discover the buying habits of your customers to ensure that your sales campaigns are laser-focused. Only by understanding your customers through an implemented and fully integrated ERP system can you illuminate buying habits and tailor your strategy to meet them
More than just knowing which products to market to whom, you can also use an ERP system to understand a customer’s journey; how they buy, their motivations and their reactions to the customer support side of your business. With this data, sales and marketing strategies that work can be constructed.
Using an ERP System for Accurate Forecasting
With all of this data at your fingertips, thanks to an ERP system, you can forecast more accurately. Through forecasting, you can ensure that your risk management, planning and budgeting processes are as precise as possible. Moreover, accurate forecasting ensures that investment can be made at the right time to allow for better and more sustainable growth.
ERP Consulting From ICS Can Help Your Business Grow
ERP consulting services from ICS can help your business grow and adapt to changing landscapes. We specialise in Microsoft D365FO implementations, with a team of Microsoft-certified developers on-hand to provide customised solutions for your business objectives. We can also help you integrate an ERP system with your existing internal IT infrastructure. Contact the team at ICS to learn more about implementing ERP solutions for your business today.