Technological developments have opened up incredible potential for businesses all over the world to grow like never before. By having access to multiple options, not only in terms of hardware, but also in terms of software, any company can streamline its operations and thus increase profits, as long as it uses the right software solutions. From multinationals to small or medium-sized enterprises, all can take advantage of technological benefits to gain insights, improve business activities, and boost revenues.
Looking at any successful company, you probably think that it “runs itself” and things go very smoothly, but this is not true. Behind the scenes, there is always a huge suite of solutions and services working constantly to keep the business going. From document management to big data, there is dedicated software for every business segment and while some of them are optional, others are crucial for those who want to achieve success. But which ones should you choose? Here is our brief list consisting of three enterprise applications you should definitely use.
Business Intelligence (BI)
Business intelligence is a field that has become increasingly popular in recent years, as decision makers in the corporate environment use it to gain valuable insights into their business, regardless of its size. So, if you need real-time access to a large amount of data coming from various sources, then a BI solution is the piece of software that you should use. It will extract data from those disparate sources, compile and harmonize it, then allow you to combine information and obtain reports based on the queries you want to run.
Normally, these reports are presented in dashboards which contain all the KPIs you consider relevant for your company. Business Intelligence will help you acknowledge where your business is at the moment, how it got there, how much progress you have made, and what you have to do next in order to leverage its potential.
By having a tool that takes care of compiling, analyzing, and reporting data, you can afford to focus less on these tasks and instead invest more time in making the right decisions for your company. In the rapidly changing corporate landscape, relying on an accurate and complex BI tool can give you a significant advantage over your competition.
If you have decided to start using a BI solution, remember to choose a vendor that offers a self-service platform. This is important because it will allow even non-technical users to manipulate the queries, access the dashboards, and gain essential insights delivered by the solution – without any support from IT professionals.
Enterprise Resource Planning (ERP)
A reliable ERP solution should be at the core of any business. When integrated successfully and used correctly, an Enterprise Resource Planning solution can meet all your requirements, giving you a clear overview of all your company’s processes.
But how does it work? Well, this type of software gathers all the modules of your business, transforms them into digital materials and builds connections, so that all the employees who have access to this data can get real-time updates and therefore be “on the same page” as far as information is concerned. What is more, as an administrator, you can even assign roles and limit users’ accessibility to files.
An ERP can include multiple features, but the most important one is that all business processes are combined into a single structure, offering you complete visibility and a unique reporting system. In addition to this, you can also integrate the software with other enterprise tools, including Business Intelligence, Sales Force Automation, Customer Relationship Management, point of sale data, project management apps and many others.
Particularly for a large company, implementing an ERP can produce immediate and clear improvements in day-to-day operations. However, regardless of how big or small your business is, make sure you choose a dynamic and scalable solution and one that can match potential growth. It will streamline workflow, making activities more collaborative and transparent, while also improving planning and forecasting.
Human Resources Software
HR is a crucial part of any company. On the one hand, expanding your business by hiring new people is an important milestone, especially for start-ups. On the other hand, large enterprises with hundreds or even thousands of employees have to manage huge amounts of human resources data and this can become a challenge. For this reason, using dedicated HR software is essential in the current business environment.
In spite of the game-changing nature of implementing such a tool, many still underestimate its power. As a consequence, few entrepreneurs decide to invest time and money in their human resources needs, which is a huge mistake. HR technologies can streamline needs forecasts and business operations, enabling managers to keep this flow under control.