Nothing is more frustrating than being unable to complete a piece of work because you can’t find an important piece of information that is hidden away in the business’ maze of systems and various other repositories. It is more important than ever for project-based businesses to share information internally and one way to achieve this is by using an Enterprise Resource Planning (ERP) system.
Many organisations run their back office with information stored in various applications by a number of employees across multiple departments; but this approach can be problematic. The use of more than one system often creates silos of information, and hence makes it increasingly difficult for Project Managers to get the information they need to deliver revenue-generating client projects.
Without a unified system in place to help manage projects and business data; costs can spiral out of control due to a lack of insight, poor ability to plan and assign tasks, and ad-hoc reports and alerts. This leaves a large margin for error when making important business decisions. What’s more, the time it takes to find accurate information can cause deadlines to be missed and could potentially risk delays to the project’s schedule – a problem that will really affect profitability. What Project Managers need is real-time visibility into resource allocations, expenses and potential variances to the schedule as these measurements are key to maintaining good margins.
ERP systems are now also available with social collaboration capabilities, allowing Project Managers to collaborate easily across teams. They store relevant conversations, tasks, events and files so that people from different departments across different locations can review the information and contribute to the project safe in the knowledge that they are in possession of all the necessary data.