Get Data-Driven Insights with Epicor
Nobody wants to trust a computer over their own intelligence. That’s why executives and managers tend to rely on their judgment rather than digitally generated insights. A PwC survey found that only 35% of executives relied mostly on internal data and analytics to make business decisions. 46% of CFOs make key decisions based on instinct alone, according to Redshift Research Ltd.
But ignoring data from your enterprise software solutions doesn’t cut it today. When you trust your intuition alone, your decisions become susceptible to biases and emotions. An ERP solution provides real-time insights, smart recommendations and predictions to drive your strategies—not hunches or gut feelings. Once you have access to hard facts, you can apply your experiences and context to make the best decisions for your company.
So how exactly does ERP software offer data-driven insights to power decision making? We’ll focus on Epicor ERP, a premier solution for manufacturers and value-added distributors, to demonstrate how ERP provides the backbone for business strategies.
Access to Enterprise Data
A common problem among businesses is having data siloed across multiple departments and platforms. ERP centralizes your data, so users have access to a range of back-office data. Furthermore, Epicor enables employees to personalize their home pages to show the metrics, reports and KPIs most relevant to their company roles.
Some of Epicor’s most useful insights and capabilities for driving decision making include:
- Financial Reports: ERP financial reports give users an in-depth view of their company’s fiscal health, so they can discover opportunities to increase budgets or save costs.
- Production Metrics: Manufacturers can plan production more effectively than ever with Epicor’s data on materials, labor, equipment and lean performance. These metrics help users maximize efficiency and plan multiple aspects of production.
- Inventory Tracking: Manufacturers tend to struggle to access inventory levels, but not with Epicor. Your ERP can track inventory levels across warehouses, helping you detect issues and identify solutions to overstocking or stockouts.
- Simulations: Before changing prices or scheduling jobs, use simulations and what-if scenarios to analyze the decision’s potential impact on your production line, sales or labor requirements.
Epicor makes it easy to access the data you need to make the best decisions for your organization.
Internet of Things
The Internet of Things (IoT) refers to the practice of—you guessed it—connecting things to the internet. When you connect products and machines to the internet, you can monitor the state of your products after they’ve been purchased and the state of your equipment. But these insights only go so far when they aren’t connected to your ERP. Epicor can consolidate and analyze the data from your IoT devices in a single solution, simplifying decision making.
What are some of the ways you can use this IoT data? Some companies track products, detecting any lapses in performance in order to proactively offer services, updates or related products to their customers. You can also keep an eye on the machines on your manufacturing floor. Epicor will alert you of any errors or slowdowns, so you can plan for maintenance before experiencing unscheduled downtime. This information is vital to providing superior customer service and streamlining your supply chain.
When it comes to decision making, collaboration is just as important as data. ERP software facilitates collaboration across departments and locations by providing a central hub for data. An Aberdeen Group report found that businesses with ERP are 145% more likely to have real-time collaboration across their enterprise. The software enables users to access data at all times across multiple devices, so employees can work on projects together even on the go.
Epicor 10 takes collaboration an extra step with Epicor Social Enterprise (ESE). Similar to a social media channel, ESE provides instant notifications on product lifecycles, invoices, orders and more in an interactive stream. It also enables employees to communicate in public or private group chats. ESE serves as a modern tool to help users across departments pool their knowledge to rapidly address problems and develop new strategies.
Instincts can only get you so far. Epicor provides the in-depth insights and functionality essential for enabling manufacturers and distributors to work together to make the right decisions. Datix, a certified Epicor partner, has implemented countless ERP systems for over 20 years. Our consultants know how to leverage Epicor capabilities to enhance each client’s operations.
We also offer additional solutions to help you get the most from your enterprise data. Jet Analytics, for example, is a BI solution fully integrated with Epicor. It allows users to create reports in Excel or Microsoft Power BI from even their largest ERP databases, simplifying reporting strategies and giving users deep insights from their fingertips.
Our Unity integration solution improves your decision making as well. By integrating Epicor with CRM, eCommerce or Marketing Automation, your business gains real-time insight into both back and front-office data. Unity gives you the 360-degree visibility you need to drive end-to-end business improvements.
Don’t let your data go to waste. Let the ERP experts at Datix help you optimize your decision making. Get in touch with one of our consultants today!