Every business, regardless of its domain, has to function in a streamlined manner, in order to increase efficiency, reduce costs, and boost profits. Enterprise Resource Planning (ERP) software is just what you need when it comes to managing teams efficiently and bringing a high level of synchronization within cross-functional teams.
Why is ERP software required in the automotive industry?
ERP is an all-inclusive and effective solution that helps run the day-to-day operations of a business. It integrates all the departments and centralizes information, eliminating the need for disparate systems to manage different processes. You have all the information at your fingertips, from sales to service, which helps monitor the effectiveness of processes, evaluate productivity, and resolve issues in a timely manner. You save both time and effort, as you don’t have to collate data from multiple systems and generate reports from them. The automotive software empowers dealers to strategize and carry out sales and leasing processes with minimal human intervention.
How your business can benefit
Minimizes operational costs
An automotive ERP software consolidates and integrates disparate systems that exist in your business. For instance, information from departments like finance, marketing, supply chain, inventory, etc. can be gathered and made available from a single central dashboard. It eradicates the need for training employees, eases the process of resource acquisition and makes overall management much simpler. Thus, it can reduce operational costs at various organizational levels.
Inventory management
One of the most important reasons for integrating automotive ERP software into your business is for effective inventory management. This is usually a very tedious job, which can be made easier by the ERP software. It basically digitizes the inventory, so there is no need to organize and keep it updated manually. ERP software automatically keeps track of the inventory, sending out alerts whenever the stock is low.
Enhanced customer support
Customer services can also be improved by using automotive ERP software. When integrated with Customer Relationship Management (CRM software), it can be utilized for following tasks:
1. Expand your target audience by widening overall reach.
2. Nurture leads captured in the sales funnel.
3. Convert leads into sales.
4. Retain customers by forging stronger relationships.
5. Communicate more effectively with customers through every phase of the buying process.
Basically, automotive software improves your understanding of your customers and their needs by analyzing their past purchases and preferences, helps provide customized services, and addresses their requirements thoroughly.
Integrating different teams
The main functionality of automotive ERP software is to bring synchronicity between several departments or teams inside a business. If ERP software is seamlessly integrated into the core of your business, various teams can be combined. For example, automotive service business operations such as supply chain, CRM, management team, and the finance team can all be managed from a single ERP software’s dashboard.
Maintain regulatory compliance
Any automotive business has to comply with numerous regulations such as Federal Information and Security Management Act, Sarbanes-Oxley Act, etc. Automotive ERP software comes with built-in modules that specifically handle regulatory compliance and ensure that the business adheres to all compliance requirements. The software automatically generates reports that have to be submitted to relevant regulatory bodies.
Generating analytics
Automotive ERP software lets you generate a variety of reports such as expense statements, inventory level status, income reports, sales reports, and a lot more. The capability of generating timely reports brings agility into the automotive business, and empowers you to make critical decisions based on data, and respond rapidly to crucial situations. You don’t have to depend on anyone to create and access reports or interpret data.
