ERP has been around for almost as long as the internet, pagers and bag phones helping businesses standardize processes, increase efficiency and sales through access to data. Epicor ERP has been able to keep pace with the changing needs of businesses (that bag phone was a little clunky) and has incorporated social business functionality reflecting the way employees are incorporating technology into their personal lives. According to Nick Castellina of Aberdeen Group “organizations that have implemented social ERP saw over twice the improvement in profit margins over the past two years of organizations that have not implemented social ERP.”
The key benefit of Social ERP is collaboration. This goes for organizations that are housed in one building or across the globe. As we all know Al Gore single-handedly invented the internet but in most cases collaboration is extremely beneficial to business. Allowing employees access to data with the necessary tools and infrastructure is the first step to this collaboration. Once employees have the data the next step is to analyze the data (independently and collaboratively) and create a pathway to turn this robust information into a plan that can benefit your business.
Social ERP in Epicor can take many forms including the ability to tag conversations, products, projects, customers, equipment etc. This collaboration creates a central location where all stakeholders can easily access current information and over time you create a database allowing you to avoid previous mistakes and learn and continuously improve with more efficient processes, higher quality products and services, better profit margins.
Here are a few stats compiled by Aberdeen Group…
- Those businesses who incorporated social ERP decreased decision making time 28% versus 21% for those without social ERP.
- Those businesses who incorporated social ERP decreased business processes 11% versus 9% for those without social ERP.
- Those businesses who incorporated social ERP met internal schedules 95% of the time versus 90% for those without social ERP.
- Those businesses who incorporated social ERP had employees that exceeded performance metrics 58% versus only 36% for those without social ERP.
- Over the 2 years these statistics were gathered those businesses who incorporated social ERP improved profit margins 19% versus 9% for those without social ERP.
- The stats are clear (bag phones were good but smart phones are better). Social ERP increases collaboration, efficiency and profits. Contact us today about implementing a social ERP solution for your business.