Maximizing ROI with ERP Systems
The most significant return on investment (ROI) from ERP systems comes from executive dashboards. These dashboards offer analytics, key performance indicators (KPIs), metrics, and more for executives. In simple terms, to maximize the ROI of an ERP system, executives must leverage these dashboards.
ROI of Dashboards
The primary ROI of executive dashboards includes:
Answering critical questions.
Building comprehensive knowledge about all departments using the ERP system.
Identifying process and data gaps.
Creating actionable items.
Identifying red flags.
Eliminating the need for files and presentations.
Offering numerous other benefits.
The Crucial Role of the ERP Team
ERP team experts, or consultants, play a vital role in promoting the added value and ROI of ERP system dashboards. Their key tasks include:
Providing training for executives on using dashboards.
Identifying and suggesting critical dashboards with relevant KPIs and analytics.
Raising and suggesting red flags.
Implementing process mining as necessary.
Identifying gaps.
Performing other tasks based on business modules.
Eliminating Files and Presentations
With the availability of ERP system dashboards, the use of files, presentations, sheets, and other similar tools should be discontinued. Executives, especially the CEO, must enforce the use of dashboards and eliminate reliance on traditional documents.
Key Points for Maximizing ERP and Dashboard ROI
– The IT and ERP team should report directly to the CEO to ensure unbiased dashboards KPIs and analytics.
– The CEO should prioritize using dashboards to track business performance across multiple departments and units.
– Auditors must utilize the dashboards.
– To enhance the ROI of the ERP system, it should integrate with the CRM system, identifying and building integration dashboards.