ERP software has become a business staple in today’s world. The truth is that managing a business isn’t easy. Trying to ensure everything runs smoothly, especially when running a multi-location or multi-national entity, can be tricky.
Thanks to an ERP solution like GoldFinch, you can have an analytical view of what is happening across various departments and locations from your office. This is because its reporting capabilities always give you access to accurate data.
GoldFinch has exemplary reporting and analytics capabilities that a distribution and manufacturing company could benefit from. Its advanced reporting tools make managing multiple locations and facilities much more straightforward.
Key Reporting Features of GoldFinch ERP
Let’s look at some of the main reporting features of GoldFinch ERP that can give you a holistic view of what’s happening with your business.
One prominent feature of GoldFinch ERP is real-time reporting capabilities—allowing users to continuously update data, ensuring current information is on the system. For example, say you’re tracking inventory at different distribution centers. Likely, data from yesterday won’t be the same as today. If yesterday you had ten boxes of pharmaceutical products, today, you may only be left with six. Real-time reporting allows the company to have accurate information and make informed decisions.
No two businesses are the same. Aside from that, as your business grows, your reporting needs will change. GoldFinch ERP has a customizable dashboard that lets you customize reporting to the company’s needs.
In addition, the dashboard is interactive, providing a visual overview of key performance indicators (KPIs). The dashboard presents the data in a visually appealing and easy-to-understand format, ensuring everyone can understand.
GoldFinch’s ERP boasts a user-friendly interface that’s easy to navigate. You and your employees can quickly find the necessary information or enter data into the system. This saves you time and prevents frustrations when using the system.
We know that a poor interface can make reporting an arduous task. It can also waste time because users are trying to understand the system’s workings. Thankfully, we have a solid interface that makes it easy to generate reports with just a few clicks and see what’s happening across the company.
This feature allows you to generate and distribute reports to various users. It is particularly useful for recurring statements often sent to specific stakeholders regularly. Automated reporting reduces human error, improves productivity, and promotes corporate responsibility.
You can receive alerts and notifications to know what’s happening in your company quickly. Because of these notifications, the staff and business leaders can identify conditions that require immediate attention. For example, if a particular location runs out of stock, the person responsible for restocking receives a notification and takes action promptly.
Benefits of GoldFinch ERP’s Reporting Capabilities
Here are some ways your business could benefit from our ERP reporting and analytics capabilities.
ERP reporting promotes data accuracy in an organization. For starters, it consolidates data from various departments and locations into a single database. This ensures you draw all your reports from a single source, reducing data discrepancies. Other than that, you’re accessing real-time data from one platform. It also minimizes errors associated with data duplication or manual entry. An ERP system facilitates the production of accurate and reliable reports.
Some of the challenges in demand forecasting include fluctuating customer behavior, supply chain disruptions, seasonality and trends, and limited visibility in the supply chain. Demand forecasting becomes much easier thanks to our ERP reporting and analytics capability.
The solution integrates data from different processes like sales, production, inventory, and finance. Demand forecasters can access updated and accurate data through this single platform to make informed predictions. In addition, the tool also stores historical data, which can be used to analyze data from the past to predict future demand.
Monitor Performance Across Different Departments
An ERP helps you track key performance indicators (KPIs) across different departments, including sales, finance, marketing, and human resources, to ensure you meet the company’s goals and objectives.
Optimize Inventory Management
Another benefit of an ERP’s data analysis and reporting capabilities is that it helps you optimize inventory levels. You don’t want to find that a customer has made an order, but you don’t have it in store. According to e-commerce statistics, the number of people shopping online is expected to grow by 10% in 2023. With more people switching to online shopping, if you want market share, you ought to streamline your sales process. An ERP allows you to do this by providing accurate information about your inventory levels so that you are always well stocked.
Through ERP reporting, a company can identify cost-saving opportunities and areas of inefficiency. For instance, by analyzing procurement reports, you can reduce money wastage. You can explore a particular supplier based on price, reliability, quality, and delivery through the statements. With this information, you can negotiate for better terms, avoid overstocking or understocking, and reduce waste. In the long run, this saves the company money and improves profitability.
Improved Customer Satisfaction
ERP reporting improves customer satisfaction by boosting internal processes that impact customer experience. For example, it provides real-time access to essential data, allowing customer representatives to quickly respond to customers and address issues. Faster response time improves customer satisfaction because they feel their needs are met promptly.
Another way ERP reporting boosts customer satisfaction is through inventory management. It allows businesses to optimize inventory levels, which prevents running out of stock. Customers who find products anytime they want will be satisfied with your services.
If you want a holistic view of your business, there is no better way to achieve that than through an ERP. GoldFinch ERP reporting features allow you to access data about what’s happening in your company. It can be particularly helpful to a business with multiple facilities across regions. To learn more about GoldFinch ERP reporting capabilities, contact us today.