5 Significant Business Risks wiped out by Cloud Jewellery ERP Software
Jewellery companies these days put resources into various aspects, the expected Return On Investment (ROI) can be through reducing expense, increased profits and aiding in choice making. One of the crucial investment aspects is of implementing Jewellery ERP solutions. ERP System gathers, records, integrates, manages and delivers complex information and data in a comprehensive manner across all business units of the enterprise.
21% of the companies in a latest survey described their most recent ERP rollout as a failure. Many jewellery organizations lost money due to the failure of jewellery ERP implementation. There are many use cases of jewellers PAN India that narrate their experiences and failures and, as a result, losses were incurred while implementing these projects.
From choosing the right partner to going live, typically, organizations face many challenges. The most significant issue faced by organizations, however, is the implementation of ERP. These failures can be due to not choosing a specialized promising partner, lack of domain expertise, ownership difficulties by company staff, slow adoption of application at the customer place and never-ending customization.
Below are the 5 risks that any jeweller faces on day to day basis and we’ll show you how making a right choice of Jewellery Cloud ERP software can help mitigate those risks and unlock opportunities.
1. An unrelenting focus on customer delight that keep them coming back
As technology evolves, your Customers expect your organization to keep pace. Your employees can’t deliver great customer experiences if they face issues like system disconnection, switching between applications to gather information while attending to customers. Both customers and employees will lack interest and take advantage of what the competitors have to offer.
Centralize and accessible customer data
You can centralize and access data with Cloud jewellery software, creating better customer experiences across the organization. With access to key customer details at the fingertips, employees can provide efficient, customized Services.
2. Exhibit opportunities for Revenue building
Finance teams spend a lot of time on numbers and reports using spreadsheets and fail to provide insights which could help in quick and easy decision making. Having right and accurate data provides any business edge over its competitors.
Data is an essential resource
Cloud ERP enables easy integration of consolidated and real-time data. This enables use of 3rd Party cloud-based analytics and machine learning to understand customer trends and explore new revenue opportunities.
3. Mobility to the workforce
If your business is still operating on a traditional model, it will get harder and harder to attract skilled and efficient employees. The current workforce expects business processes to be easy, with information right at their fingertips when they are closing a sale, generating complex reports and identifying trends.
Enable the next generation of workers
Using a cloud-based ERP, workers can connect to the systems and information they need to produce high-value work. Providing on-field sales staff with accurate data and freedom of working from anywhere and on any device makes it simple and provides them confidence while coordinating with customers.
4. Eradicate human error through automation
No matter how skilled and careful your employees are, mistakes are going to happen. Regardless of whether it’s entering data in spreadsheets, giving quotations or replenishing stock, if your staffs are working outside of automated and integrated system, they will commit errors. And these mistakes can cost your business customers, profits, and reputation.
Improve productivity and reduce errors
Of the numerous advantages of cloud ERP, automating manual tasks and consolidation of data can help business develop. Interfacing information across the organization diminishes the requirement for manual intervention. Automated workflows guarantee that orders get processed quickly and purchases are planned as per trends in the market. As you improve profitability and decrease mistakes, your employees will have the option to oversee higher exchange volumes—permitting your business to grow.
5. Mitigate Risk in liaison with a Trusted Partner by Moving to the Cloud
Although ERP is a costly investment at its core, there are, at the outset, inexpensive ERP models in which SMEs can invest to take their business to new heights. The best way to reduce your risks is to work with someone who has domain expertise and technological knowhow which in terms helps in seamless and successful implementation.
At GreySauce, we enable jewellery companies transform the pace of the entire business landscape, bringing in exponential improvements in operational efficiency and streamlining every business functionality, irrespective of their magnitude of business.