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Customized ERP reporting software can save money and increase efficiency
Businesses are forced to make difficult decisions that will impact their short term profits and long term sustainability. Many times these decisions are based on how the company has performed in certain areas or on estimates or guesses as to how the market will perform going forward. In the past, many of these decisions had to be made using data that’s insufficient or lacking in certain areas.
As many of these decisions have come back to haunt companies, the need for more in-depth statistics has increased. Even professional sports teams now heavily rely on statistics to make their decisions. For example, a recent article ESPN ranked professional NBA teams based on their dedication to using analytics (statistical analysis) in their decision making. The Houston Rockets were the team that ESPN selected for the top spot. They use statistical analysis in every facet of their decision making. They make decisions on personal, training, and even game strategies based on the analysis they get. They are able to this using reports that are generated almost instantly.
The same strategies that can give professional sports teams a competitive edge can work for businesses when it comes to decision making. They can use reports that are more comprehensive and in depth to make better decisions. They are able to get a better understanding of areas they are thriving and where they are struggling. They can better predict market trends making committing valuable resources easier.
This is how Synoptix and our ERP enhancement suite helps give you the advantage you are looking for. They have created software that is designed to integrate with most existing systems and produce much more thorough reports. These reports give the ease and functionality of a spreadsheet but with a lot more depth.
One company that is clear proof of how these reports have helped is ICX Technologies. Recently purchased by FLIR Systems, ICX Technologies is made up of sixteen businesses that perform a wide variety of different functions. As a result of having so many different parts performing so many different functions they struggled to get needed reports. This resulted in delayed decisions and lower efficiency. They used their ERP system to create Excel spreadsheets which meant they were limited by using Excel’s operational metrics. Enormous amounts of resources and hours went into creating reports that were useful and functional.
In an effort to streamline their processes, they decided to use the Synoptix software system developed by Compusoft. This produced a solution to many of the problems they faced with getting reports. With sixteen different companies each one wanted custom reports which under their old ERP system just wasn’t possible. By upgrading their software they are able to generate the needed reports specifically designed for each company at a fraction of the time it took previously. This has saved them money directly as well as increasing efficiency.
Regardless if the company is a major professional sports team or a fortune 500 business with multiple different departments or branches, the need for fast and accurate data is essential. Partnering with a company that is able to work in concert with an existing system makes it possible for companies to make important decisions that will improve profitability and thrive long term.