Effective integration of Business Intelligence (BI) and Enterprise Resource Planning (ERP) systems within your business
In today’s competitive environment, managers are anxious to stay well informed of what's happening within their business and throughout their industry. As a result, businesses are placing more and more emphasis on the integration of Business Intelligence (BI) and Enterprise Resource Planning (ERP) systems as a platform for informed decision making. But despite the best intentions, many businesses are struggling to implement BI and ERP software systems effectively. The key to effective implementation lies within understanding their wider purpose within your business.
Have a clear understanding of the end goal
ERP software records large volumes of data across a wide range of business functions. The role of BI systems is to then convert this data into relevant information that can be used as a platform for informed decision making. Determining the direction and specific purpose of this information is therefore the first important step in implementing effective BI and ERP systems. Outlining key business objectives, important performance indicators or specific desired business outcomes will give a clear direction with which to successfully employ your BI software.
Use your BI system to its full potential
By limiting your BI system to data collection and record reporting, you underestimate the value of this powerful business tool. BI provides up-to-date information that is relevant to the past, present and future of any business. It can provide the foundation for identifying historical trends and current patterns in important business data such as sales or production costs. It is also a useful means of predicting outcomes and making informed decisions on future developments.
Collaborate don’t delegate
BI and ERP are complex systems and implementation can be a long and difficult process. By hiring the services of an experienced business software provider, you lower your chances of experiencing problems later down the track. Remember that the most effective BI systems are ones that are specifically geared towards the user’s individual business objectives. Therefore,you should ideally aim for a business software provider with extensive experience within your business’ industry and where possible, collaborate with your software vendor to ensure the most effective implementation of your business’ BI system.