Ever thought how many spreadsheets your employees use daily and also, what type of data do they store in these spreadsheets. From financial planning to customer data, most employees depend on a number of spreadsheets to store business information. Most of them commonly use spreadsheets to store employee information, payroll, sales data, inventory details, project timelines etc. Most organizations track most of the processes in Excel sheets.
1.Do spreadsheets put a business at risk?
While spreadsheets maybe convenient, but most of them pose a significant risk to the business. As they may get lost or misplaced. For Example, secured information may reach to a wrong person’s email. Use of incorrect formulae or is on a disgruntled employee’s hard drive or could lead managers to make poor decisions. Unsecured information puts your business at risk and multiple placed information wastes most if the employees’ time. The risks are endless. Most Businesses use spreadsheets to track End to End sales financing, inventory and anything in between. Unfortunately, as the business grows, the use of spreadsheets tends to grow with it.
2.ERP system helps in combating the issue posed by manual spreadsheets:
For an organization to create a solid foundation that helps to have a strong grip in the market, you need to centralize the information your employees need to complete their tasks efficiently for the above process most effective method for centralizing data is with an ERP system.
ERP software will allow you to provide individual role-based access to information. Only those employees who need the data to do their jobs gain access. ERP Software increases accurate data by automating data entry process, it also helps in providing better analytics, and mapping business processes by eliminating manual tasks. Thus, ERP software helps in time saving and also increases revenue growth. An ERP system helps in seamless integration of data flow from all business systems or branches and provides small and medium enterprises (SMEs) with powerful business strategic and informed decision-making.