Every company works towards accelerating its revenue growth. Even when economic conditions are volatile and top management focuses on cutting costs as much as possible, encouraging sales teams to improve revenue figures is still paramount. The choice of an integrated ERP solution can contribute significantly to improving the revenue growth of the company while increasing customer satisfaction and employee productivity.
Here are 4 ways to improve revenue growth opportunities with an integrated ERP solution:
Better marketing-sales collaboration
Marketing and sales are two departments that should be working closely together, but are often at loggerheads with each other. An integrated ERP system facilitates better collaboration between these divisions by providing a single platform with shared goals for sales and marketing to make clearer connections between specific marketing campaigns and prospective sales. It provides both the departments with access to not only product and service information, but also lead and customer details. This improved collaboration will result in more leads and conversions, ultimately increasing revenue for the company.
Deeper process insights through business intelligence
Improved business intelligence is another way that an integrated ERP solution can increase an organisation’s revenue. Not only does an ERP system provide convenient access to each department’s tasks, but it also provides decision-makers with a centralised view of the business. This view can disclose unexpected connections between data sets and areas where efficiency can be augmented resulting in lower costs and increased revenue.
Smoother warehouse integration
Warehouse integration is another benefit provided by an integrated ERP system, specifically for businesses involved in process manufacturing. This feature of ERP systems prevents warehouse operations from suffering from a silo effect and lowers costs, raising the overall profit. It also increases productivity as inventory automation enables the organisation’s employees to accomplish more in the same amount of time.
Efficient customer relationship management
Satisfied customers are more likely to be loyal customers as well as evangelists for a business and an integrated ERP solution can help you build a strong bond with customers to further improve their brand experience. An ERP system gives easier access to detailed customer information and history, helping sales and customer support team members tailor experiences for their customers. These customer details can also assist the marketing team, who can use the information to track buyer behaviours for planning marketing initiatives, offer more relevant sales promotions, and use marketing language that better relate to their customer base.
With these rewards in mind, it is clear that ERP systems not only improve business efficiency, but can also directly impact revenue.