Make More Informed, Faster Decisions with ERP

There are two ways where a Manager takes his decision: one who makes business decisions based on an informed analysis of relevant data, or one who makes decisions based on instinct?

It is found that:

• ·         46 percent of CFOs made important decisions based solely on instinct.
• ·         Many others said that they relied on a combination of instinct and experience due to a lack of   pertinent data.
• ·         A third of surveyed companies attributed poor decision-making to not having access to internal data when they needed it.

While instinct can certainly have value, it’s clear that making the best decision requires starting with the right data. Making the decision quickly, meanwhile, requires having access to that information at a moment’s notice. Enterprise resource planning, or ERP, is designed in part to facilitate this decision making.

ERP Data Shows the Full Picture

Because ERP integrates across an entire organization and provides enterprise-wide visibility, it effectively puts the data needed for decisions at a manager’s fingertips. Interpreting the data remains a human endeavor, and this is where instinct and experience can help a company to prosper. A deep understanding of these data-driven issues will aid industry experience and intuition in the decision-making process.

The Human Factor

Compiled together, all of this insight allows the managers to be well-positioned when making important decisions. Instinct alone is not enough, because the right decision for one company may not be the right one for another company facing a similar situation.

ERP not only gives the information but it also eliminates the guesswork; it saves valuable time that would have otherwise been spent tracking down the facts needed. This allows employees to stay focused on their duties with fewer interruptions.

ERP does not make decisions for a company. Rather, it leverages human insight by giving decision-makers everything they need to make the right decision for the benefit of the entire enterprise.