What does IoT have to offer to ERP?

The growing adoption cloud ERP solutions means that more and more businesses can take advantage of IoT in their ERP systems. Businesses are looking for ways to connect ERP solutions to every aspect of their operations, and IoT makes this connectivity between different departments possible. Let’s look at some key benefits of integrating ERP and IoT.

Competition and advantage

Advanced ERP systems with IoT functions allow increased data availability, easier communication and even smarter Business Intelligence. This means that those that will implement this trend early on, will have a comparative advantage. If your industry has not adopted this technology, you are more likely to be left behind. The success of your business depends on your ability to embrace new technology, especially if it allows for a more comprehensive customer experience.

Real-time insights

At its core, ERP is a unified source of data. With IoT, data becomes even richer as it includes actionable insights. The IoT network of sensors and devices provides a continuous stream of timely information, meaning employees have access to real-time data updates that help them make the right business decisions.

From inventory to device maintenance needs, there are many issues that need attention, and without the help of IoT they may… get lost along the way. With IoT, certified users are immediately notified of any changes in order to meet the challenges.

Improved customer service

The majority of customers expect the delivery of their product within 3 days, according to surveys. Fast shipping is one of the most important aspects of successful customer service, that produce brand loyalty. Imagine how much easier this process would be, if both customers and vendors had easy access to real-time updates. This is possible with an IoT-connected ERP system, as customer and vendor portals will prove to be valuable sources of information, with shipping updates, order confirmations and more.

Automation and efficiency

A key advantage of ERP solutions is the automation of complex manual processes, from Accounting to HR, and with IoT all these capabilities are significantly upgraded. Until this technology was put into practice, there were specific tasks that were just too complicated to be executed automatically. Nowadays, even complex processes, such as barcoding, can be automated. This saves time, money and resources, while at the same time it allows you to respond immediately to customer requirements.

Improved estimates

Analytics and forecasting are some of the most important tools a business can use to plan its future. Reviewing current and past data, helps anticipate trends and prepare for the future, and this will be made easier by integrating IoT with ERP. Benefits are especially evident when considering processes such as customer sales or purchasing behavior. Thanks to IoT, you can access a large amount of real-time data that will enlighten you on how your customers search, find, buy and use your products or services. Sending data to the ERP system makes your forecasts and planning even more accurate and efficient.