Getting the Most from Your ERP Data

To gain the most benefit from your company’s enterprise resource management (ERP) system, it is important to proactively manage data collection and organization. It is only when clean, organized data feeds reports can you be sure the information in those reports is accurate and use it to make decisions.

Ensure You Are Capturing the Right Metrics

The first step to ensure you receive the highest benefit from the data in your ERP is to ensure it is capturing the appropriate metrics. Just because you can collect data does not necessarily mean you should collect it, nor does it mean you are collecting the right data for the needs of your company.

Begin by verifying the data captured. Then, conduct a gap analysis between the reporting metrics and the data collected. If there is a gap in the metrics collected, ascertain whether you are currently capturing the data for that metric or if there is a gap.

Verify Data Feeds

Investigate all the data feeds and verify each is channeling data correctly into the ERP. You may be capturing data from the e-commerce portal, for example, only to have it fail to reach the ERP reporting system due to a programming glitch.

If systems are not communicating correctly, spend time trouble shooting to see if it is a minor issue or a major error. Minor issues should be addressed immediately. Major errors may require a cost analysis to determine the costs versus benefits of fixing them.

Check for Data Lagging

Some older ERP systems are configured to update reporting data on a weekly or daily basis. While this was adequate a few years ago, modern ERP systems, including cloud ERP systems, can report metrics much more quickly, often in a matter of days or even hours. If you are using an older system, you may be missing a competitive advantage by having older data in the system. Switching to cloud ERP can improve data collection and metrics reporting time to ensure nearly real-time data is available for better business decisions.

It May Be Time for a New ERP

If, after going through these steps, you still feel you are not receiving accurate or adequate data from your ERP system, it may be time to call in an ERP consultant familiar with your system. Consultants who know a particular system can often pinpoint issues impeding data collection or producing inaccurate reports. Many data reporting issues can be fixed with the appropriate knowledge of the system.

However, not all problems can be fixed. The root cause may be deeper than a misconfigured data feed or a lagging data collecting date. You may need to address systems that feed data into the ERP, such as a warehouse management system, or similar adjustments. And, if the system is truly outdated and unsupported by the developers, it may be time to consider a new ERP system.

The right data from your ERP can propel growth and improve profit margins. If your ERP is not providing you with the data you need, do not delay, but investigate it immediately so as not to miss any information that can be of value to your company.

By Mindover Software - Acumatica Gold Certified Partner