By Prangya Pandab - February 25, 2021 3 Mins Read
Enterprise Resource Planning (ERP) plays a crucial role in streamlining processes and improving business operations across verticals. Today, massive data influxes along with the Internet of Things (IoT) are stirring up the ERP landscape, introducing new possibilities for workflow automation and operational excellence.
ERP is the core matter of any enterprise as it offers a solitary wellspring of information. Businesses can use ERP and IoT to leverage their growth opportunities regardless of the size or nature of the operations.
Integrating ERP with IoT can extraordinarily boost information accessibility and precision. With the proper integration of these two, businesses need not worry about connecting their applications and internal business processes with external business data. With the ability to analyze data in real-time, organizations can also make effective and more informed business decisions. With ERP and IoT integration, organizations can also screen their machine activities remotely and conduct the real-time investigation of streaming data.
Better Decision Making
With the accessibility and quality of data improved, organizations can now make better business decisions. Even though data gathered through IoT devices is rapidly increasing, businesses are not ready to analyze it effectively. By integrating ERP and IoT, businesses can integrate and store the business information in a centralized location, making it easier to access that stored data.
Instant Business Insights
ERP and IoT integration can also help organizations gain access to valuable business information in real-time. Organizations can also conduct real-time analysis of the business data, and this analysis will be vital for optimizing operations and performance. This, in turn, will help organizations be proactive in their business operations. Integrating ERP and IoT with artificial intelligence will also allow organizations make accurate business decisions.
Quality Asset Management
Asset management is crucial for organizations to grow and develop since the optimal usage of the available assets can provide them with the best results. ERP and IoT integration automatically feeds the information related to the assets directly to the ERP system that will enable all the related parties to view and analyze that information. ERP and IoT integration will also help organizations send asset information to their employees when the assets need replacements or maintenance.
Amplified Business Efficiency
Organizations can accelerate business operations with effective integration of ERP software along with IoT technology. The new-age organization can now shift to a technology-based business process from the traditional human-centric approach. This will have large scale positive implications as fewer human errors, and improved business performance is the most beneficial outcome.
This integration eliminates the scope of miscommunication and enables the smooth accomplishment of business processes. Furthermore, the live updates can help organizations quickly remove hurdles and complete the tasks within the set deadline.
Read More: Simplifying Taxation for Enterprises
Futuristic Business Approach
It has become increasingly difficult to determine market scenarios and customer demands in the current environment. ERP and IoT integration can help businesses improvise inventory and supply chain and other business process. The integration can bridge the gap between supply and demand to a great extent. Accurate customer information, real-time updates, and psychographics can help businesses draft their strategies and attain business objectives accurately and efficiently.
Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.
A Peer Knowledge Resource – By the CXO, For the CXO.
Expert inputs on challenges, triumphs and innovative solutions from corporate Movers and Shakers in global Leadership space to add value to business decision making.Media@EnterpriseTalk.com