Key Strategic Tools For Enterprises- BI With ERP

In the context of complex business operations, Enterprise Resource Planning (ERP) software has successfully transformed organizations by improving supply chain and administrative operations, financial visibility, and reducing manual processes across worldwide industries. In today’s challenging global business economy, Business Intelligence (BI) is emerging as a catalyst technique and solution to make ERP more competitive and flexible for enterprises. Integrating BI with ERP enables corporate decision-makers to analyze ERP stored unified data in deep detail and understand different business scenarios. The BI dynamic dashboards in ERP make it easy to understand the data you are working with. From there, you can mine your data as much as you want and even trace issues to their root causes.

This collaboration of BI and ERP is empowering organizations to manage massive amounts of data gathered by ERP and analyze it for consumers, sales & marketing, supply chain, and various other business aspects.

Why do Enterprises need both ERP and Power BI together?

Most of the competition leaders in an industry have a separate market research capability or a business division that helps them understands their consumers’ needs and expectations. However, knowing customers is not enough in today’s world. Companies must also identify their competitive external environment and analyze the possible actions of their decisions. Power BI with ERP offers this capability to enterprises to predict possible business outcomes in the most accurate way. In addition, it helps in recognizing the changes in a customer's behavior in real-time which can indicate when there is a high probability of a customer’s positive response to an offer. Before knowing the advantages of BI and ERP collaboration, let’s understand ERP without BI:

ERP without BI

There’s no doubt that Enterprise Resource Planning (ERP) software has proven as successful software for integrating and centralizing many business processes across global industries at present. The data gathered from these systems is both insightful and meaningful for driving business value if analyzed in a deep context. However, many businesses are using their ERP just as a ‘one-size-fits-all’ approach to data analysis and planning, when in reality, an ERP is just one aspect of effective business management. By integrating new technologies in ERP, you can extend the functionality of your system to achieve more business benefits. Here are the top three instances where an ERP without BI falls short of being comprehensive for most contemporary business requirements:

1. Enterprises can access only the current status such as open orders. In order to make better decisions, it is imperative managers look beyond the current status to find consumer trends and patterns.
2. The alone ERP is not integrated with other enterprise systems and thus, does not include external intelligence which is an important factor for competitive market analysis.
3. It is rare that ERP systems could address all of the analytical and reporting needs of organizations as each organization has different business segments and operations at different locations.

Benefits of Integrating ERP and BI

With the BI integrated ERP software, the corporate executives can deeply observe the data and convert it to some actionable information. It’s a powerful combination of technology for managing various aspects of your business such as suppliers, customers, finance & accounts, production & planning, and sales & marketing. Here are the top six benefits of BI with ERP

1. Accurate predictions and real-time updates about various business aspects
2. More accurate demand forecasting
3. Ability to compare performance in terms of product margins, turnover rates, customer retention rates, etc.
4. Reporting beyond standard forms
5. Saving time and efforts occurred for data collection and report generation
6. Analyze historical data from legacy systems

Business Intelligence Service- Eastern Software Solutions

Eastern Software Solutions provides BI Service that empowers businesses to evaluate key performance metrics in real-time and make their decision-making process faster. Our Power BI integrated ERP-ebizframe is successful in collecting data from different sources, organizing, preparing it for analysis, and generating customized reports for your decisions.

If you're someone who is looking for such robust ERP software, then ebizframe is the best choice.