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bluelupinblogs · 1 year ago

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Juggling Too Many Spreadsheets? There’s a Better Way!

Introduction

You can't imagine a business running operations without spreadsheets. From organizing data to analysis and calculation to visualization, spreadsheets are an integral part of your management and operations. But have you noticed how much it gets difficult to manage loads of Excel sheets together once your business grows?

ERP can be considered a modern alternative to spreadsheets. From offering centralized databases to having numerous inbuilt features, ERP can streamline business processes across different departments, without requiring you to juggle several tasks simultaneously.

According to an analysis report by G2, 88% of the companies' business gained success with the implementation of ERP. In this blog, I have mentioned what the top software development company in India thinks about the usefulness of ERP systems.

The Struggles of Spreadsheets

1. Data Silos & Inaccuracy

Spreadsheets are great at capturing data and calculation work. However, different departments within the same organization create different spreadsheets to manage their own data. This pool of information often makes it difficult to provide a full view of business operations, which eventually leads to missed opportunities or misinterpretation of data.

For example, in the manufacturing company, the manufacturing team may hold its spreadsheet on inventory, while the sales teams may record the orders for the product coming from the customers on another spreadsheet. This often gives room for overestimation and leads to customers’ dissatisfaction or underestimation with the same consequences, possibly forcing unnecessary production halts. Ataccama has found that up to 20% of an enterprise’s yearly revenue is lost due to poor data quality and the mismanagement of silos based on spreadsheets.

2. Version Control Issues

Another challenge is to track changes made to the spreadsheet. Most of the time, when a spreadsheet has to be edited by more than one person, tracking the last edited version becomes difficult and at times you can also lose data. If you have a financial firm, then updating different versions of the same budget report, and reconciling those versions can be a nightmare, and may even lead to reporting inaccuracies. In such a scenario, a top software company in Delhi would suggest you adopt the ERP system.

3. Scalability Challenges

As your business grows bigger, it will result in the complexity of the data management needs. The use of spreadsheets, though effective in small-scale operations, can fail to manage large datasets effectively. Manual data entry, complex formulas, and slow processing time will hamper growth. As pointed out by the top software development company in India, an e-commerce startup can use spreadsheets at the beginning to manage orders and inventory, but when the order volumes increase, manual maintenance of the inventory through check-ins becomes unbearable. That's when errors and inefficiency would occur.

How ERP becomes your savior

1. Centralized Data

An ERP system provides a single platform where all business data is stored. This makes it possible for quick information sharing, and bridging communication gaps between departments, as it makes it simple for the employees to have meaningful collaboration.

From the perspective of a top software company in Delhi, a retail chain store that has many outlets should use ERP to synchronize all the inventory data across the varied outlets to ensure that stock levels are tracked in real time and shared accurately.

2. Real-Time Insights

In this perspective, ERPs offer businesses real-time views from different perspectives that make decision-making faster and more informed. This is very important for businesses that need to react and adapt faster to the changes in market conditions.

In a report by MDPI, 33% of businesses that implemented ERP systems improved decision-making and business processes.

3. Improved Efficiency & Automation

The top software development company in India says that ERP systems are very good at automating mundane routine activities, which lets employees engage in more value-added activities.

For example, a pharmaceutical company can leverage an ERP to efficiently automate batch-tracking and quality control processes to bring down errors and ensure regulatory compliance.

4. Scalability & Security

The ERP systems can contemplate the growth of your business, not only regarding the volumes of data but also with reference to user needs. In addition, ERPs have very tight security features to ensure there is no breach of sensitive business information.

An Oracle report went ahead to say,

“81% of nearly 4,750 CISOs who were surveyed by the global consultancy indicated they were in a constant battle to stay ahead of cybercriminals and that the cost was unsustainable”.

Therefore, a comprehensive ERP strategy, implemented by a top software company in Delhi, can prevent this.

FAQs

1. Why is ERP better than Excel?

You as a business owner may find it hard to manage a lot of spreadsheets because it offers lots of complexity along with a common platform for managing data. You may struggle with complex formulas for calculations and manual data entry when you have to deal with loads of data. On the other hand, a user-friendly ERP system helps you simplify data organization with its standardized processes, so that your productivity, accurate reporting, and vital decision-making get improved. According to the top software development company in India, ERP is better than Excel.

2. What is the difference between ERP and spreadsheet?

You can easily get the difference once you try your hands at both ERP systems and spreadsheets. Spreadsheets are prone to human error in data entry, can't update data automatically, are complex for data sharing too, and have limited functionality. Whereas, ERP systems provide a single source of information for all business data, can automate several manual tasks and reduce vital errors, have better-inbuilt tools, and help in better decision-making.

3. What are the benefits of an ERP system?

An ERP system can offer many benefits depending on your business. Among several common benefits over traditional spreadsheets are centralized data, insights on a real-time basis, improved scalability, and robust security. The top software development company in India can efficiently deploy ERP systems, which allow the information to be shared across cross-departments, hence making it possible to make better and timely decisions, make the business grow with simple scalability, and be extra secure in managing business operations.

4. How does an ERP increase operational efficiency?

ERP enhances operational efficiency by automating repetitive tasks and integrating diverse internal business functionalities. The top software company in Delhi can smoothly build ERP solutions that help in reducing manual data entry, faster invoicing, improving report generation, streamlining processes, more visibility and control over data, enhancing collaborations, and improving customer service. This way your employees will focus on more strategic tasks and reduce errors, boosting operational efficiency and productivity.

Conclusion

Switching from spreadsheets or Excel to an ERP system can be a game-changer for your business. You will get valuable inbuilt tools to save you lots of expenses on additional resources and time as well. The automated workflows will reduce errors and boost productivity and better decision-making. You can reap many more advantages using an ERP system. Hence big brands are shifting from traditional Excel or spreadsheets to ERP. What are you still waiting for?

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